Product category:
Motors and Variable speed drives
News Release from: IMS Research | Subject: Chinese market for drives
Edited by the Processingtalk Editorial
Team on 24 April 2006
Exceptional growth for China motor
drives market
2005 was an exceptional growth year for the China AC and DC motor drives market, according to a new market report from IMS Research
According to new data from IMS Research, the China market grew an estimated 18.6% over 2004 to become an $860 million market for motor drives Standard and premium AC drives experienced the most revenue growth during this same period, most notably in the larger power ranges
This article was originally published on Processingtalk on 12 Nov 2003 at 8.00am (UK)
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A large proportion of these drives went into construction-related sectors involved in building China's manufacturing and logistical infrastructure.
China's strong economic performance continues to be a major contributor to the extraordinary growth of its motor drives market.
The country's economy has boomed since its entrance into the World Trade Organization in November 2001, experiencing annual growth of no less than 8% for Gross Domestic Product.
These attractive market conditions have motivated virtually every major multinational motor drives company to enter the Chinese market.
According to analyst Steve Lam of IMS Research, these global companies have brought with them competitive advantages such as more reliable and technically superior motor drives, and have enabled them to dominate this market.
However, these drives come with a higher price premium, and have recently allowed indigenous companies to gain market share by competing in their own niche 'economy drives market'.
"Additionally, strong economic performance has resulted in a rising consumer income in China, which is driving the lower power drive segment.
More and more Chinese consumers are able to afford packaged consumer goods, resulting in increased use of motor drives in food and beverage and packaging machinery applications that utilise these lower power drives".
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