Global Integrated Drive Systems Market 2017-2021
About Integrated Drive Systems
Integrated drive systems are relatively new, and many end-users have started using these systems to improve the efficiency of their facilities, as the systems help in optimizing the functions of components like gears and motors. These systems improve efficiency and reduce energy consumption at the facilities. The growing awareness and the increasing need for energy conservation are some of the major reasons for the rise in adoption of integrated drive systems among end-user industries.
Technavio’s analysts forecast the global integrated drive systems market to grow at a CAGR of 5.63% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global integrated drive systems market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Integrated Drive Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global integrated drive systems market: ABB, Bosch Rexroth, Emerson, Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: Eaton, Integrated Drive Systems, Mitsubishi Electric, Rockwell Automation, TQ Group, and Yaskawa Electric.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing awareness about the importance of integrated drive systems. Energy consumption is one of the major concerns for industrial and manufacturing facilities, as it leads to high operational costs. This has led to an increase in demand for energy- efficient products. Within manufacturing facilities, motors, gears, and compressors are some of the major components that consume the highest power. Integrated drive systems help in optimally utilizing the drive trains and components involved.”
According to the report, one of the major drivers for this market is Integration of drive train functions has led to increase in demand. Integrated drive systems offer a solution to integrate components of a drive train, such as motors, gear units, and couplings, into a single system, which helps in improving efficiency. This will enable end-user industries to improve the production efficiency and save space within a workplace, as all the components are integrated into one system.
Further, the report states that one of the major factors hindering the growth of this market is High cost of integrated drive systems is restricting potential buyers. The cost of implementing integrated drive systems is high, as this includes integrating the components like drives, motors, and couplings, making it an expensive process. The installation of these systems will also lead to downtime, which affects the production and operation of the facility. These high investments costs are restricting many potential end-users from implementing integrated drive systems.
ABB, Bosch Rexroth, Emerson, Schneider Electric, Siemens, Eaton, Integrated Drive Systems, Mitsubishi Electric, Rockwell Automation, TQ Group, and Yaskawa Electric.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook