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Investment in Automation Solutions Across Industries Fuels Global Drives Market Finds Frost & Sullivan - Affordable, energy-efficient drives are the need of the hour, finds Frost & Sullivan - Motors.Frost.com
Investment in Automation Solutions Across Industries Fuels Global Drives Market Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Mountain View, CA, United States, 2015/07/24 - Affordable, energy-efficient drives are the need of the hour, finds Frost & Sullivan - Motors.Frost.com.

   
 
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Heightened investment in automation technologies across end-user industries will propel the global drives market. Due to the rising need for operational excellence and process automation, the replacement market, in particular, will witness particularly strong growth. While demand in the United States will be fuelled by the resurgence of the chemical industry, globally, investment in the water and wastewater industry and increased interest in mining will have a positive effect on the drives market.

Recent analysis from Frost & Sullivan, 2014 Global Drives Factbook, finds that the market earned revenues of approximately $11 billion in 2014 and estimates this to reach almost $17 billion in 2019. The study covers low- and medium-voltage drives.

“Countries such as India, Brazil, Mexico, Russia and Indonesia are likely to boost the overall adoption levels of drives,” said Frost & Sullivan Industrial Automation & Process Control Senior Consultant Michael Rasche. “As the demand for cost-effective machinery manufactured in these countries is anticipated to rise during the forecast period, the need for drives will also intensify.”

However, economic uncertainties in regions like Europe will reduce the uptake of drives. Sluggish growth in China will also have a negative impact on the market in the short term. This, along with pricing pressures from low-cost participants, will stifle the speed of market development.

“Nevertheless, the need for energy efficiency will bring opportunities to drive manufacturers,” noted Rasche. “With end-user industries having to abide by strict energy-efficiency standards, they are increasingly looking for drives that have the desired performance specifications but are reasonably priced.”

2014 Global Drives Factbook is part of the Power Transmission (motors.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Analysis of the North American Low Voltage (LV) Motors Market, Global Welding Robotics Fact Book, Strategic Analysis of the Global Industrial Bearings and Couplings Market, and Analysis of the Global Motor Control Centers Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.

The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion | Join Us: Join our community | Subscribe: Newsletter on “the next big thing" | Register: Gain access to visionary innovation

2014 Global Drives Factbook / NE74-17

 
 
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Investment in Automation Solutions Across Industries Fuels Global Drives Market Finds Frost & Sullivan

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Contact: Jaylon Brinkley - Frost.com 
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