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Analysis of the European Electric Drives Market—Fact Book

  • January 2014
  • 114 pages
  • Frost & Sullivan
Report ID: 2011360

Summary

Table of Contents

Emergence of Ethernet, Need for Safety and Productivity Drive Sales

European countries are experiencing unprecedented economic changes, forcing manufacturers to optimise product cost by implementing energy-efficient systems, which, in turn, is increasing the demand for electric drives in various end-user segments. This research service offers segment breakdowns for the low- and medium-voltage electric drives with a look at revenue forecasts by region, power rating, and end user. Analyses are provided for the unit shipment, revenue forecast, and competitive analysis. Apart from this, the research highlights the growing regions and countries within Europe, which in the long run will attract investments and boost sales. The base year is 2012 and forecasts are 2013-2017.

Executive Summary

• Current Scenario: European countries are going through unprecedented changes on the economic front, forcing manufacturers to optimise product cost by implementing energy-efficient systems. This, in turn, is increasing the demand for electric drives in various end-user segments.
• Drivers for Adoption: In order to comply with the energy-efficiency regulations existing in Europe, end users need to adopt electric drives to reduce costs incurred with electrical energy usage.
• Key Concerns: Competition from regional and Asian manufacturers is causing vendors to reduce prices in the European electric drives market, leading to reduced profit margins.
• Product Trends: Electric drive manufacturers serving the European market are differentiating themselves by packaging their products with motors or by increasing the functionalities of electric drives.
• End-user Trends: There is an increasing requirement for electric drives in the heating, ventilation, and air conditioning (HVAC); medical; and machinery segments due to the increasing trend of automating processes.
• Machinery and other end-user segments were the major contributors to the growth of micro-electric drives in 2012.
• Geographic Trends: Germany contributed X% of revenue in 2012 in the European electric drives market.

CEO’s Perspective

1. An efficient sales and service network and brand reputation are mandatory to maintain better sales prospects.
2. Servicing of the electric drives becomes an important part of revenue generation within Xyears of sales.
3. The market is driven by the need for ease of use, safety, features, process control, and price.
4. Quick delivery time and end-to-end support for the electric drives are the key challenges for manufacturers.
5. The market is dependent on European economic stability and the growth of Eastern Europe.

Market Overview—Definitions

• A electric drive is essentially a power amplifier that provides electric power needed by an electric motor based on the torque and/or speed demanded by controllers, which are digitally programmed.
• Low-voltage (LV) drives have a voltage range of less than XV.
• Medium-voltage (MV) drives have a voltage rating greater thanXV.
• The low voltage electric drives considered for this research operate with power ratings between X kW and X MW, while the medium voltage electric drives operate from 1 to XMW.
• The electric drives considered for this research include AC, DC, and servo drives.
• The term “revenue” in the context of electric drives includes revenue generated from direct sales and sales done by distributors. Revenue from services offered after the sale of the product is not considered part of market revenue in this study.
• Segmentation by geography is discussed in detail in a separate chapter.

Currency Used: US Dollars
$1 = £X = € (2009)
$1 = £X = €0X (2010)
$1 = £X = € (2011)
$1 = £X = € (2012)

Time Frame Analysis
Historic Period: 2009–2011
Base Year: 2012
Short Term: 2013–2014
Medium Term: 2015–2016
Long Term: 2017

• European electric drives is a growing market; AC, DC, and servo electric drives are used across a vast range of end-user applications. Their usage across all these end-user segments has witnessed growth over the last decade except for in 2009, when the demand across all the major end-user segments decreased because of the economic recession.
• Meeting the EU’s legislative requirements for the energy efficiency of electric motors through implementation of electric drives has made manufacturers concentrate on electric drives.
• High competition between the electric drive manufacturers and fluctuating raw material costs has triggered a price war that indirectly affects the total revenue of the micro-electric drives market.
• Increasing technological changes in semiconductor devices and networking capabilities are the key drivers the manufacturers are targeting to tap into to increase the functionalities of their drives.
• Apart from the technological changes, due to the European Union’s (EU) energy-efficiency legislation, most of the drive manufacturers are providing drives as integrated motor drive packages through a decentralised concept.
• The European electric drives market is highly fragmented due to Asian competition catering to the needs of end users across major end-user industries.
• Due to a large number of market participants being active in the segment, the entry barrier for new market participants is low, but acquiring a significant market share and subsequently sustaining competition have become extremely challenging for participants.

Key Questions This Study Will Answer

Is the market growing, how long will it continue to grow, and at what rate?
What are the geographic trends, and how are they expected to grow over the forecast period?
How will the structure of the market change over time? What factors will govern the key purchasing criteria of end users in the future?
What are the threats this market is likely to encounter, and what are the drivers for uptake?
What was the impact of the recession on the mining machinery market? What are the trends witnessed post-recession? What is the growth potential for the market in the future?

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