Impressive growth in China’s low voltage motor drive market
According to a market survey carried out by IMS Research, sales of low voltage motor drives in China were worth over $1.7 billion in 2008, up nearly 10% from the previous year.
The Chinese drives market is heavily dependent upon machine builders, with sales to this channel representing almost two thirds of total market revenues. Some major suppliers started to worry about the market in the first half of 2008 before the global economic crisis started because of the sharp decline of the demand from textile machinery sector, which accounted for 25% of the total shipment in terms of units.
Analyst Jackey Wang said: "The slowdown or even decline of some machinery sectors did decelerate the growth of sales to machine builders significantly in the second half of 2008.
"However, the impact of the global financial crisis on end-user markets was insignificant till now. Sales to end-user markets continued growing as a result of the government-guided energy-saving and omission reduction projects and related policies. The fast growth in end-user markets offset the slowdown of the machinery market."
