China high power AC drives market across US$1 billion
1st Quarter 2009
Electrical switching & drive systems & components
Towards the end of 2008 ARC reported that robust growth continued in 2007 for the high power AC drives market in China riding on the back of another year of double digit growth in GDP of the country. The China market for high power AC drives is expected to grow at a compounded annual growth rate (CAGR) of 12,9% over the next five years. The market was over $1,0 billion in 2007 and is forecast to be nearly $1,9 billion in 2012, according to a new ARC Advisory Group study.
China’s manufacturing industry, which has grown rapidly over the last few decades, will need to adjust to moderation in demand from the global economy. However, China’s favourable business environment will continue to provide investment opportunities for global manufacturers in setting up facilities for low cost production facilities and to serve the expanding domestic market of China.
Labour arbitrage apart, more pronounced factors, such as infrastructure and long term fiscal incentives provided by the local authorities make feasible establishment of large-scale plants catering to global demand. The expanding economy that is China, in the long term together with other growing economies, such as Brazil, India, and Russia, will define global growth. “Energy conservation measures will continue to provide the impetus for growth of high power AC drives in China, even as process related advantages gain recognition by manufacturers,” according to senior analyst Himanshu Shah and senior analyst and principal author, S.R. Venkatapathy of ARC’s ‘High Power AC Drive Outlook for China, Market Analysis & Forecast Through 2012’.
For more information contact S.R. Venkatapathy, ARC Advisory Group, [email protected], www.arcweb.com
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