Indian AC Drive Market Driven by Strong Economic Expansion

According to a new ARC Advisory Group study, India’s economic expansion, propelled by the country’s growing manufacturing sector, is fuelling the low power AC drive market in India. The study also reports the market for low power AC drives in India, which exceeded $150 million in 2006, to grow at a compounded annual growth rate (CAGR) of 15.4% over the next five years.

“Manufacturers exhibiting strong growth over the last five years in this thriving and intensely competitive market are increasingly relying on automation to help gain an edge and improve profitability. With increasing automation spending, the outlook for the low power AC drive market is extremely bright,” according to Senior Analyst Himanshu Shah and Senior Analyst S. R. Venkatapathy, the authors of the study.