Date: Jan 16, 2013
Keywords: AC Drives, Adjustable Speed Drives (ASD), Automation, Energy Efficiency, Motor Speed Controls, Variable Frequency Drives (VFD), Variable Speed Drives (VSD), Automation, Market Research Study
India is one of the most important markets for low power AC drives or variable frequency drives (VFD) in Asia. Most of the top global companies have expanded their presence in India; this has led to a demand for industrial automation control systems like low power AC drives in the country. As manufacturing firms in India move up the value chain to produce more sophisticated products, they will further boost demand for these automation systems. The low power AC drives market in India has seen a strong growth of 18.2 percent from the previous year, according to a new ARC Advisory Group market research study.
The overall low power AC drives market is distributed across many industries. The growth in the market mainly comes from industries such as food & beverage, infrastructure, electric power generation, cement & glass, automotive, and water & wastewater.
Energy Efficiency and Infrastructure Will Be Key DriversARC believes the low power AC drives market in India will grow at a much faster rate than other Asian countries with a CAGR of nearly 14 percent over the forecast period of 5 years (2011-2016). The market growth for low power AC drives will be driven largely by massive consumption in the infrastructure and manufacturing industries. Huge investments in infrastructure, as projected in the 12th five year plan (2012-2017) of India, and the newly introduced National Manufacturing Policy will boost investments in several industries.
Also, the need for energy efficiency will make companies invest in automation equipment, including low power AC drives and other categories of VFDs, which are required to help users achieve their energy savings goals. The food & beverage, machinery, water & wastewater, pharmaceutical, and consumer packaged goods industries will continue to make investments in low power AC drives.
“New construction activities during 2013 and beyond in India, investments in industrial infrastructures, while simultaneously focusing on energy conservation and renewable sources of energy to curtail costs will drive long term growth of the low power AC drives market in India,” according to G. Ganapathiraman, Country Manager ARC India, and co-author of ARC’s new “Low Power AC Drives for India Market Research Study”.
This study provides an in-depth analysis of the low power AC drives market 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 low power AC drives market in India and its dynamics.