Europe to lead drives market
15 Jan 2000
Europe is set to be the world's largest market for AC drives over the next five years, overtaking Asia, according to research from market analysts Datamonitor. The market in Europe is set to rocket by over 17 per cent per year, the report claims.
The Asian crisis will dent sales into the region, particularly as automation spending has dropped back in Japan. The US market is set to catch Japan up in 2003. However, the market as a whole is still set for annual growth of over 14 per cent, says Datamonitor.
The fastest growing sector in the industry is compact drives, defined as those rated below 2.2kW. These account for almost two-thirds of the market, and are set to increase this proportion as the technology improves, the report states.
