Energy cost savings drive AC drive market growth
Strong global economic growth and consumer demand contributed to robust growth of the high power AC drive market.years, according to a new ARC Advisory Group study, “High Power AC Drive Worldwide Outlook.” ( www.arcweb.com/res/hpacww )
The escalating energy costs experienced in recent years has forced manufacturers to focus on energy conservation measures.al expenditures on AC drives,” according to Senior Analyst Himanshu Shah, co-author of the study.
Several factors are expected to contribute to robust growth of the high power AC drive market including manufacturer energy saving and reliability initiatives, incorporation of more user-friendly features, and new solution-based drive systems.
Positive economic developments in emerging markets such as Asia also contributed to market growth.