Economic downturn not expected to affect sales of low voltage drives

Worldwide market for low voltage ac and dc motor drives will grow in 2009.

03/12/2009


According to the latest statistics from IMS Research, the worldwide market for low voltage ac and dc motor drives experienced unprecedented revenue growth in 2007, increasing by 19.7% over 2006 levels. Data reported by leading drives suppliers for 2008 and 2009 indicate all regions and industry segments will continue to exhibit growth. The information is in line with year-ago forecasts showing "gangbuster growth" in mechatronics , motors, and motion control markets.

The market is expected to continue performing well despite the global economic downturn, with positive growth forecast for 2009. By the end of this year, annual revenue growth should bottom out at 3.7%, according to IMS Research. High energy prices and an increased focus on energy efficiency will contribute to the sales of more low voltage drives.

Lead by infrastructure expansion in China and India, the Asia Pacific motor drives market experienced the largest amount of growth in 2007, and was the second largest regional market after Europe, Middle East, and Asia (EMEA). Valued at nearly $2.4 billion, the drives market in Asia Pacific is expected to continue growing at the fastest rate over the next five years. However, difficult economic conditions around the globe will slow growth across all regions, with most impact felt in the drives markets in the Americas and Japan. The success of recently introduced government stimulus packages will determine the severity of the market downturn, according to IMS Research.

Purchases of drives by users in the utilities, food & beverage, chemicals & petroleum, and renewable energy industries are expected to offset declines in demand by users the metal processing, mining, textiles and commercial HVAC industries.

– Edited by Renee Robbins , senior editor
Control Engineering News Desk
Register here and scroll down to select your choice of eNewsletters free.





No comments
The Top Plant program honors outstanding manufacturing facilities in North America. View the 2015 Top Plant.
The Product of the Year program recognizes products newly released in the manufacturing industries.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
2016 Product of the Year; Diagnose bearing failures; Asset performance management; Testing dust collector performance measures
Safety for 18 years, warehouse maintenance tips, Ethernet and the IIoT, GAMS 2016 recap
2016 Engineering Leaders Under 40; Future vision: Where is manufacturing headed?; Electrical distribution, redefined
SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Safety at every angle, Big Data's impact on operations, bridging the skills gap
The digital oilfield: Utilizing Big Data can yield big savings; Virtualization a real solution; Tracking SIS performance
Applying network redundancy; Overcoming loop tuning challenges; PID control and networks
Driving motor efficiency; Preventing arc flash in mission critical facilities; Integrating alternative power and existing electrical systems
Package boilers; Natural gas infrared heating; Thermal treasure; Standby generation; Natural gas supports green efforts

Annual Salary Survey

Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.

There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.

But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.

Read more: 2015 Salary Survey

Maintenance and reliability tips and best practices from the maintenance and reliability coaches at Allied Reliability Group.
The One Voice for Manufacturing blog reports on federal public policy issues impacting the manufacturing sector. One Voice is a joint effort by the National Tooling and Machining...
The Society for Maintenance and Reliability Professionals an organization devoted...
Join this ongoing discussion of machine guarding topics, including solutions assessments, regulatory compliance, gap analysis...
IMS Research, recently acquired by IHS Inc., is a leading independent supplier of market research and consultancy to the global electronics industry.
Maintenance is not optional in manufacturing. It’s a profit center, driving productivity and uptime while reducing overall repair costs.
The Lachance on CMMS blog is about current maintenance topics. Blogger Paul Lachance is president and chief technology officer for Smartware Group.
This article collection contains several articles on the vital role of plant safety and offers advice on best practices.
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.
This article collection contains several articles on strategic maintenance and understanding all the parts of your plant.
click me