|By PR Newswire||
|January 2, 2013 01:56 AM EST||
KUALA LUMPUR, Malaysia, Jan. 2, 2013 /PRNewswire/ -- In response to the International Electrotechnical Commission (IEC) standard mandates and the increasing demand for high energy efficiency, low-voltage integral horsepower motor market participants are introducing high- and premium-efficiency motors. The high growth verticals that are generating demand for low-voltage integral horsepower motors are drawn to the energy efficiency feature of the motor, as it reduces energy consumption and carbon emissions.
New analysis from Frost & Sullivan (http://www.motors.frost.com), ANZ Low-voltage Integral Horsepower Motors Market, finds that the market earned revenues between US$140 million to US$150 million in 2011 and estimates this to reach US$166 million in 2015.
The uptake of low-voltage integral electric motors in Australia and New Zealand is largely determined by the growth in the revenue-generating verticals such as mining, water treatment, and oil and gas. These verticals, in addition to smaller verticals such as dairy and timber, are likely to raise their demand for energy-efficient motors in the next two to three years.
"The opening of new mines is especially likely to drive the demand for low-voltage integral horsepower motors," said Frost & Sullivan Research Analyst Susan Sahayan. "The redevelopment and improvements in existing mines also call for higher efficiency motors, which aids the steady growth of the market."
However, the market, like many others, was affected by the global economic downturn. It is gradually regaining momentum, although participants witnessed limited, bordering on zero, growth in 2011.
The market is currently at the mature stage, but sustainable growth opportunities are still available. Due to market saturation, participants are turning their attention to retrofits and services for the motors.
"In future, motor prices are expected to increase with improvements in efficiencies," noted Sahayan. "As efficiency standards gain more prominence and focus in the market, motor manufacturers will need to re-evaluate original motor designs to stay competitive."
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