Electric Drives Market to Exceed $8 Billion by 2010, According to New Report by Global Industry Analysts, Inc.

Electric drives market has been witnessing steady growth rates for the last couple of years on a global perspective. The market is predicted to reach US$8.1 billion by 2010. Europe is expected to remain the largest market until 2010, currently holding a market share of about 38%.

San Jose, CA (PRWEB) July 12, 2007 -- Steady growth in the Electric Drives Market (http://www.strategyr.com/MCP-1727.asp) comes primarily from product group such as AC drives, power ranges; and regions encompassing the Middle East, Africa and Asia. High energy prices, increased spending to gain base commodities, and China's manufacturing boom, have contributed to an expansion in the electric drive markets.

Asia-Pacific (incl. Japan) is likely to be the fastest growing electric drives market, registering a CAGR of about 4.9% for the years 2001-2010. AC Drives represent the largest product segment for electric drives, capturing a market share of about 90% for 2006. AC servo electric drives market (http://www.strategyr.com/MCP-1727.asp) is growing steadily and is slowly substituting DC drives, as the AC drives are known to demonstrate high accuracy rate, and are more reliable and cheaper. Market share of standard DC drives has been on decline in the last few years mainly on account of the introduction of newer AC products. Machine Tools and Robotics represents the leading end-use segment, garnering a market share of about 15% for 2006.

As per the findings of the new report, strong consumer demand and vibrant economy increased the growth of high-power AC electric drive market. Factors contributing to the growth in this market include integration of user-friendly features, reliability initiatives and energy saving mechanisms by the manufacturers, and new solution-based drive systems. Moreover, positive developments in the upcoming markets of Asia also accounted for the growth. As Asian countries such as India and China are investing heavily in infrastructure related industries, including metals and mining, cement, oil and gas, and electric power; the use of high power AC drives in these countries are expected to witness strong growth in the future.

The Spanish industrial segment is currently under modernization drive, though industrialization process began quite late in the country. The country is also making investments in infrastructure to comply with the EU regulations. Even though Germany is the largest electric drives market in Western Europe, Spain is predicted to record the fastest growth rate during the period between 2005 and 2012. The electric drives market in Eastern Europe is very small in size when compared to the Western Europe, but is fast emerging as an important market. Demand drivers for growth include lower costs, higher end-user acceptance level, increasing demand from significant regions and rapid technological developments.

GIA's comprehensive research report titled "Electric Drives: A Global Strategic Business Report" analyzes similar market trends with hard-to-find data and analytics for key regions such as the United States, Canada, Germany, France, the UK, Italy, and others alongside up and coming markets such as Asia-Pacific and Rest of World.

The study also sheds light on trends, issues, and price dynamics prevalent in the industry. Also discussed are in depth competitive analysis of leading manufacturers in the electric drive industry, amply illustrated with numerous data rich, market data tables depicting major research findings. Demand patterns quantified in value and volume terms across major product segments include, AC Drives and DC Drives (http://www.strategyr.com/MCP-1727.asp); and end-use segments such as Automotives, Chemicals, Food & Beverage, HVAC, Material Handling & Logistics, and Machine Tools and Robotics among others.

Dominant global players in the market are Allen-Bradley, Alstom SA, Asirobicon, Baldor Electric Company, Bosch Rexroth AG, and Control Techniques, among others. In addition to the global leaders, the report offers detailed profiles of the dominating players in the US electric drives market - Asirobicon Inc., Ballard Power Systems, Bosch Rexroth Corp., GE Fanuc Automation, Inc., and Mitsubishi Electric Automation, Inc., among others. ABB of Switzerland, Siemens of Germany, Ansaldo Electric Drives Spa of Italy, and several other regional players are also profiled in the report. The study enumerates recent developments, mergers, acquisitions, and other strategic industry activities, and is an easy guide to What, Why, When, How, Where, and Who of the industry.

For complete description of this research report, please visit www.strategyr.com/MCP-1727.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) (http://www.strategyr.com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.

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