Study finds low power ac drive market growing
The low power ac drive market experienced robust growth in 2004, according to a new ARC Advisory Group study, “Low Power ac drive worldwide outlook.” The low power ac drive market crossed the $5 billion mark in 2004 and is expected to grow at an annual rate of 8.6% over the next five years.”
Investments were made in many industrial segments to cater to growing consumer demand and infrastructure development needs. The driving factors for capital investments are expected to remain strong during the next five-year period. “With oil prices escalating and drive prices falling, the payback period for AC drives investment is becoming shorter, pushing their use on a broad basis,” according to senior analyst Himanshu Shah, the study’s principal author.
The study can be found at www.arcweb.com/res/study .