Energy efficiency spurs low-power AC drive market
August 2, 2012 by Manufacturing AUTOMATION
Strong demand for energy efficiency solutions in manufacturing is driving the low-power AC drives market, which expected to grow in 2012, according to a new ARC Advisory Group study.
The study found the market for low-power AC drives experienced strong growth in 2011 as manufacturers and other industrial operations addressed initiatives for energy cost savings and reduced energy consumption.
Researchers expect capital investments for low-power AC drives to grow as they save energy and raise productivity by offering more precise speed control and providing a quick ROI.
“Low power AC drives are a key product for improving energy efficiency as well as sustainability in the manufacturing, infrastructure and building automation sectors,” ARC senior analyst Himanshu Shah, the principal author of ARC’s “Low Power AC Drives Worldwide Outlook,” said in a statement. “This will create significant growth opportunities for the low power AC drives market and its suppliers over the next five year forecast period. These factors make the use of low power AC drives easier to justify even during uncertain economic periods.”
Industries in the mature economies are expected to invest further in improving the productivity and energy efficiency of their existing manufacturing operations. The trend toward intelligent building automation will further increase demand for low power AC drives in all economies, the study found.
Compared to the developed economies, the Asian market, especially outside Japan, will continue to expand faster, but at a slower pace than previous growth. While China experienced strong low-power AC drives market growth in the recent past, future growth is expected to be a bit more modest, and key regional development opportunities will also be in Latin America, according to the ARC study.
For more information on this study, please visit the ARC Advisory Group website.