Strong demand fuels low voltage motor drives market

Wellingborough, UK – The global market for low voltage motor drives continued to register double digit growth in 2007, according to IMS Research, which estimates growth in the EMEA (Europe, Middle East & Africa) region at about 15%, compared to prior-year levels. Demand for motor drives in the Americas, meanwhile, seemed unphased by US economic woes, increasing more than 15% over 2006 levels, the market research firm added.

The strong demand is linked to a continued focus on energy conservation and an emphasison cutting operational costs, particularly by major American companies, said IMS Research motor drives analyst Alex Chausovsky. “Motor drives continue to provide decision makers with an effective way to manage their long term energy costs, as well as significantly bringing down the total cost of ownership for a majority of the motors used by industry.”

The Asia Pacific drives market performed even better in 2007 than its European and American counterparts, growing by more than 25% over 2006 levels. Increasing spending of people in India and China is driving the demand for construction and processed foods & beverages, all of which are industry segments that rely heavily on motor drives, said IMS. These economies, it added, continue to expand, so there is a greater need to apply motor drive technologies to manage their limited energy resources.