New infrastructure propels high power AC drives market
The high power AC drives market rebounded in 2010, recovering from the economic downswing in 2009. ARC Advisory Group expects the high power AC drives market to experience strong growth during the forecast period through 2015. Emerging economies, including the BRIC (Brazil, Russia, India, and China) countries, drove growth for the high power AC drives market in 2010, and these countries also remain important markets during the forecast period.
In advanced and emerging economies, infrastructure development continued, as a significant portion of government stimulus funding was directed to that sector. Consequently, investments for high power AC drives in industries such as electric power generation and water & wastewater increased at a strong rate. Additionally, end users and OEMs across a wide range of industries have recognized that high power AC drives are a major contributor to energy savings as well as achieving sustainability.
Globalization also created a large demand for modern infrastructure, especially in emerging economies. Airport facilities and new road construction are driving demand for products from the metals & mining, cement & glass, and oil & gas industries. Emerging economies know that their current infrastructure is a huge bottleneck for their continuing high economic growth. High power AC drives will benefit in this environment as they are key components for any infrastructure development and operation.
-News brief courtesy of Automation.com.