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Electric Drives Market in the European Chemical IndustryPublished by: Frost & Sullivan Published: Dec. 31, 2008 - 153 Pages Table of Contents
AbstractThis Frost & Sullivan research service titled Electric Drives Market in the European Chemical Industry provides a market overview, revenue forecasts and a competitive market analysis of electric drives for different regions in Europe. In this research, Frost & Sullivan's expert analysts thoroughly examine the following technologies: AC drives, servo drives and DC drives. The research also provides an in-depth examination of power ratings as well as of applications, including fans, pumps and compressor applications in the chemical industry.Market Overview Reliability and Flexibility Required in Process Control Applications Promote Demand for Electric Drives in the European Chemical Industry The increasing demand for energy-efficient systems coupled with the need for reliability in process applications offer high potential for electric drives in the European chemical industry. Despite the economic slowdown and declining industrial output in the European chemical industry, the electric drives market is anticipated to sustain its growth rates due to the need for infrastructural changes in chemical plants across Eastern Europe. “The heightened demand for energy efficiency and greener manufacturing has spurred the uptake of electric drives by the European chemical industry,” notes the analyst of this research. “The need for improved reliability and added flexibility in process control applications - achievable through electric drives - within a chemical plant has boosted market prospects.” In EU, energy prices for industrial applications are showing an upward trend. The average energy price for industrial applications in EU 27 rose 23.9 per cent in 2008 compared to 2007. Due to this unprecedented increase in energy prices, chemical customers consider the usage of variable speed drives in their plant optimisation programmes an energy-efficient measure. Portfolio Comprising Complete Automation Solutions and Electric Drives of All Power Ranges Central to Success The current slowdown in the European automotive and construction sectors has adversely impacted the electric drives market in the European chemical industry. The lack of new projects and frozen investments due to the apprehensions of chemical suppliers in the ongoing global economic crisis is restraining the expansion of the electric drives market. “In 2008, the EU chemical industry’s output experienced negative growth,” remarks the analyst. “Chemicals used in industrial and other key customer sectors remain seriously affected by the dramatic slowdown in the level of economic activity across EU as well as by the sharp deceleration in world output.” Lowered productivity indicates that many production sites in Europe were closed during 2008. This resulted in the lack of demand for electric drives in the European chemical industry. “A product portfolio encompassing complete automation solutions and electric drives of all power ranges is key to growth in the electric drives market in the European chemical industry,” advises the analyst. “Electric drive manufacturers are augmenting their existing portfolios by producing drives in higher power ranges.” The concept of modular technology in electric drives has enabled electric drive manufacturers to customise their offerings according to end-user specifications. Get Full Details About This Report >> |
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