Dedham, Mass. – The market for high power AC drives is expected to grow at a compounded annual growth rate (CAGR) of 10.8 per cent over the next five years, according to a new ARC Advisory Group study.
The study found that the market was more than US$5.8 billion in 2007 and is forecasted to be nearly US$9.7 billion in 2012. According to ARC, emerging economies, such as those in the BRIC countries (Brazil, Russia, India, and China) and Eastern Europe, helped propel this growth. The regional expansion was led by China, where real GDP grew robustly as exports and investment accelerated, and by India, where gains in domestic demand and particularly investment underpinned strong growth.
“High power AC drives are widely used in infrastructure industries where significant investments are being made globally, especially in emerging economies. This assures strong market growth across all regions of the world for high power AC drives,” says senior analyst Himanshu Shah, principal author of ARC’s “High Power AC Drive Worldwide Outlook, Market Analysis & Forecast Through 2012” (www.arcweb.com/res/achi).