Medium Voltage AC Drives Market in India Growing
January 12, 2012 - The global economic slowdown is likely to have a marginal effect on India’s economy in the short term, but in the long term, its growth prospects continue to remain robust because it depends largely on domestic consumer demand. The expanding Indian economy provides impetus for the growth of the country’s manufacturing industry. Almost all industry verticals, spanning process, batch, and discrete, are growing and the growth seems to be sustainable from both mid-term and long-term perspectives. While manufacturing companies in India are well placed from the demand side perspective, they are under pressure to reduce manufacturing including energy costs. However, they can benefit from the State’s demand-side energy management initiatives. This outlook makes India an attractive market for AC drives suppliers.
According to ARC Advisory Group’s research, the total medium voltage AC drives market in India will exceed $180 million in 2015. ARC’s latest study, “Medium Voltage AC Drives Outlook for India,” provides an in-depth analysis of the medium voltage AC drives business in India. In addition to market analysis and forecasts, the study also covers the current market nuances, strategic issues, and the future outlook. The report also highlights the factors that influence the MV AC drives market in India and its dynamics.
India’s Sustainable Long-term Growth Prospects Attract MV AC Drives Suppliers
According to Rajabahadur V. Arcot, Vice President and GM, ARC Advisory Group, “India, with an expanding economy and robustly growing manufacturing industry, provides excellent growth opportunities for MV AC drives.” India, according to him, is emerging as an important market for medium voltage AC drives suppliers seeking sustainable long-term growth oriented markets. ARC, based on its research, has identified some regional medium voltage AC drives companies among the leading suppliers serving India’s medium voltage AC drives market.
Sustainability Issues and State’s Initiatives Reinforce Market Growth
According to the principal author of ARC’s study, Naresh Kumar Surepelly, “Apart from the industrial growth, the State’s demand-side energy management initiatives and its commitment to sustainability are also contributing to the increased use of AC drives.”
On one hand, India does not produce enough electric power to meet the country’s demand and on the other, the energy costs are high. To mitigate the situation, the State has initiated measures that encourage the industry to adopt energy conservation and sustainable manufacturing practices. While some of these measures are voluntary in nature, others are mandatory. These initiatives have a force multiplier effect on the growth of the AC drives market in India.
Market Understanding Is Crucial for Success
The country’s robust market outlook for medium voltage AC drives attracts global and regional players to enter the market. However, only those suppliers who understand the market nuances and adopt appropriate strategies will ultimately succeed.
The “Medium Voltage AC Drives India Outlook” study with ample market intelligence covers market share of suppliers, five-year growth forecasts, market trends and challenges, strategic recommendations and such others. Quantitative information and assessment apart, this study provides an insightful analysis of issues that will affect the business in future and suggests well-researched strategies for suppliers.
About ARC: Founded in 1986, ARC Advisory Group is the leading research and advisory firm for industry. Our coverage of technology from business systems to product and asset lifecycle management, supply chain management, operations management, and automation systems makes us the go-to firm for business and IT executives around the world. For the complex business issues facing organizations today, our analysts have the industry knowledge and first-hand experience to help our clients find the best answers.
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