Medium voltage AC drives market in India expects strong growth

ARC Advisory Group expects the medium voltage AC drives market in India to continue to grow through 2015 thanks to increased consumer demand and India's demand-side energy management initiatives.

01/16/2012


Chart projecting medium voltage AC drives market growth for India. Courtesy: ARC Advisory GroupThe 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.”

However, India does not produce enough electric power to meet the country’s demand and 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.

ARC Advisory Group

www.arcweb.com

- Edited by Chris Vavra, Control Engineering, www.controleng.com



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...
Hannover Messe 2016: Taking hold of the future - Partner Country status spotlights U.S. manufacturing; Honoring manufacturing excellence: The 2015 Product of the Year Winners
Inside IIoT: How technology, strategy can improve your operation; Dry media or web scrubber?; Six steps to design a PM program
World-class manufacturing: A recipe for success: Finding the right mix for a salad dressing line; 2015 Salary Survey: Manufacturing slump dims enthusiasm
Getting to the bottom of subsea repairs: Older pipelines need more attention, and operators need a repair strategy; OTC preview; Offshore production difficult - and crucial
Digital oilfields: Integrated HMI/SCADA systems enable smarter data acquisition; Real-world impact of simulation; Electric actuator technology prospers in production fields
Special report: U.S. natural gas; LNG transport technologies evolve to meet market demand; Understanding new methane regulations; Predictive maintenance for gas pipeline compressors
Warehouse winter comfort: The HTHV solution; Cooling with natural gas; Plastics industry booming
Managing automation upgrades, retrofits; Making technical, business sense; Ensuring network cyber security
Designing generator systems; Using online commissioning tools; Selective coordination best practices

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 that compressed air plays in manufacturing plants.
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.
click me