Government initiatives to develop energy efficiency, infrastructure and safer water create growth opportunities, finds Frost & Sullivan's Industrial Automation and Process Control team
SINGAPORE, June 7, 2017 /PRNewswire/ -- Several factors are sustaining growth potential in the Southeast Asia and Australia-New Zealand motors and drives market despite reduced investment and sluggish economies. These include the adoption of smart sensors and government initiatives to develop infrastructure, improve energy efficiency, and provide safer water. Successful companies will be those that become one-stop providers, offer best-in-class systems, and build wide portfolios.
"When purchasing drives and motors, end users consider energy efficiency to control costs, performance of installation over time, and safety capabilities as key," said Frost & Sullivan Industrial Automation & Process Control Industry Analyst Krishnan Ramanathan. "They also look at the breadth of a supplier's portfolio as an indicator of their experience. End users expect this effort to eliminate problems at a later stage, save them time, and allow them to customize their purchase with low servicing and maintenance cost."
Southeast Asia and Australia-New Zealand Motors and Drives Market Outlook, 2017, part of Frost & Sullivan's Industrial Automation & Process Control, provides an understanding of the motors and drives market in Southeast Asia (Vietnam, Thailand, Malaysia, Singapore, Indonesia, and the Philippines) and Australia-New Zealand. It discusses the current market scenario and expected changes by analysing the trends impacting demand and use of motors and drives, including use of smart sensors in motors, setting of energy-efficiency norms, and potential integration problems. The market share and competitive landscape for major players such as ABB, Siemens A.G., TECO, Mitsubishi Electric and Toshiba are also discussed.
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Trends and developments driving growth in the Southeast Asia and Australia-New Zealand motors and drives market include:
"While obvious advantages are anticipated with the implementation of Internet of Industrial Things (IIoT), results are more likely to be felt in more developed countries such as Singapore and Australia. Growing economies may have opportunities, but they still lack infrastructure. Right now, the effort is to help these countries become ready for digitization, which is unlikely to be achieved in the short term," observed Ramanathan.
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Southeast Asia and Australia-New Zealand Motors and Drives Market Outlook, 2017
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Contact:
Carrie Low
Corporate Communications – Asia-Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com
Melissa Tan
Corporate Communications – Asia-Pacific
P: +65 6890 0926
F: +65 6890 0999
E: melissa.tan@frost.com
