LONDON, March 15, 2013 /PRNewswire/ -- Evolving energy legislation, paralleled by the need to regulate energy costs and improve efficiency, is boosting the uptake of micro electric drives. These trends will be reinforced by technological changes and advances in the networking capabilities of micro electric drives.
New analysis from Frost & Sullivan (http://www.motors.frost.com), Analysis of the Micro Electric Drives Market in Europe, finds that the market earned revenues of $516.8 million in 2012 and estimates this to reach $637.1 million in 2016. The research covers AC, DC and servo micro electric drives.
In Europe, motor-driven applications account for almost 65.0 per cent of energy consumed in manufacturing plants.
"To limit electricity consumption by motors, manufacturers are investing in energy-regulating devices such as variable-frequency drives," noted Frost & Sullivan Industrial Automation & Process Control Research Analyst Raaj Thilak Raveendran. "Moreover, as energy prices spiral and regulations promoting optimal energy usage become stricter, most manufacturers are expected to upgrade their plants with energy-efficient equipment."
Technological advances in microprocessors and insulated-gate bipolar transistor (IGBT) technology have made electric drives more compact and user-friendly. This is encouraging more OEMs to use electric drives in their machines. Evolving semiconductor technology has resulted in electric drives that are capable of withstanding high temperatures, allowing them to be directly mounted onto motors.
"Most micro electric drive manufacturers are now offering OEMs such packaged drive solutions that reduce the use of control cabinet, complex wiring and space," explained Raveendran. "OEMs are favouring the integrated motor drive concept because it supports lower costs and project planning time."
However, increasing commoditisation and the availability of cheaper products from Asia threaten market prospects. To offset these challenges, micro electric drive manufacturers in Europe are focusing on product and service differentiation. Enhanced life-cycle support also help in reinforcing and expanding the customer base.
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Strategic Analysis of Micro Electric Drives in Europe is part of the Mechanical Power Transmission Growth Partnership Service programme. Frost & Sullivan's related research services include: Motor Management and Control Devices, Advanced Motion Controllers Market in Europe, Repairs and Refabrication Market for Electric Drives in Europe, and European Market for Integrated Motors and Drives. All research included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Strategic Analysis of Micro Electric Drives in Europe
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SOURCE Frost & Sullivan