January 14, 2013 - The Asian region is the largest market for low power AC drives, representing around 42 percent of the global low power AC drives market. The growth is chiefly driven by improvement of internal infrastructure and manufacturing operations to meet increasing domestic demand, as well as to improve energy efficiency and the quality of their processes. The leading countries contributing to the total shipments of low power AC drives in Asia include China, Japan, and India. Emerging economies such as China and India will continue to be the growth engines for the low power AC drives market in Asia, according to a new ARC Advisory Group study. Most of the Asian countries are growing at a GDP rate of above 6 percent.
The domestic demand-driven economies of China, India, Indonesia, and others have become the destination of choice for major global companies. Automotive, electric power generation, food & beverage, machinery, and other infrastructure related sectors have been the key drivers for low power AC drives growth in the region.
Energy Efficiency and Infrastructure Will Be Key Drivers
ARC believes that the low power AC drives market in Asia will experience good growth with a CAGR of above 9 percent over the forecast period of 5 years (2011-2016). Asia is expected to remain the largest market for low power AC drives during this period. Growth will be driven by increasing concerns regarding energy efficiency and environmental issues.
G. Ganapathiraman, Country Manager, ARC Advisory Group India, and co-author of the “Low Power AC Drives for Asia Market Research Study” says, “New construction activities during 2013 and beyond in Asian countries such as China and India, and the trend towards intelligent buildings, are further demand drivers for additional automation solutions and low power AC drives in mature markets.” He also adds that continuing economic growth in developing countries of Asia and an ongoing focus in the areas of renewable energy and energy efficiency applications will increase demand for low power AC drives during the forecast period and beyond.
Also, other crucial factors like the rapidly expanding middle class in Asia, the demand for consumer goods, and oil & gas requirements, will create a greater need for automation across a broad range of industries and applications. ARC’s “Low Power AC Drives for Asia Market Research Study” provides an in-depth analysis of the low power AC drives market in Asia. In addition to market analysis and forecast, the study also covers the current market nuances, strategic issues, and the future outlook. The report also highlights the factors that influence the low power AC drives market in Asia and its dynamics.
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