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Growing Need to Reduce Energy Consumption and to Create Higher Awareness on Benefits of VFDs will Drive the Growth of Electric Drives in India
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The study focuses on analysing the Indian AC electric drives (Low Voltage electric drives and Medium Voltage electric drives) market outlook for CY 2016 and forecast the market for CY 2017–CY 2021. Research Scope:• Analysis by product segment, power rating, voltage rating, OEMs and end-users segment, distribution channel, major participants in each segment • Projections by product segment, end-user segments, distribution channel over the forecast duration• Market trends (competitive factors and assessment, growth trends, technologies, regulations/mandates) for specific product segment have been discussed. • Key drivers and restraints, growth opportunity, impact of Mega Trends, current offerings • Highlights strategic imperatives for success and growth The Indian AC electric drives market will experience growth over the next 5 years. The growth will be driven by escalating energy prices, energy intensive industries’ preference for energy-efficient solutions to optimise production cost, increased awareness about the other benefits of AC electric drives among the end-user industry. The electric AC drives market is analysed for CY 2016, revenue forecast and year-on-year growth rates by product segments, OEMs/end-user segments, distribution channel (distributors, system integrators and direct sales to end users) is discussed from the years CY 2014 to CY 2021. The market is highly price-sensitive. Therefore, the AC electric drives vendors need to offer competitive pricing with additional services such as greater ease of installation, operation, and maintenance. Greater reliability would be the key to surviving in the Indian market. Growth analysis, competitive landscape, and key trends over the forecast period have also been discussed in the study. Key Questions This Study Will Answer• Is the market growing, how long will it continue to grow, and what rate? • What are the significant technological developments expected out of the market? • What are major challenges affecting vendors in this space? • Which are the major growth sectors over the forecast period? • Who are the major companies and what is their market share?
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