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North American Medium Voltage Motors Market
Frost & Sullivan, April 2011, Pages: 51
This research service identifies the key trends, industry challenges, market drivers and restraints and competitive structure of the North American medium voltage motors market. This research service provides comprehensive forecasts for the total North American medium voltage motor market till 2016 with 2009 as the base year. Through the end-user analysis and forecasts, the strategic importance and growth metrics of the end-user sectors under consideration for this research has been analyzed. The research also provides a geographic breakdown, and lists the market shares of the top market participants.
Market Overview and Introduction
- As a result of the economic downturn and continued economic uncertainty, the North American medium voltage motors market witnessed a significant decline in growth during 2009. The market experienced a negative growth rate in 2009.
- Many of the end-user industries had experienced exceptionally strong growth from 2007 to about the first half of 2008, so the impact of the economic downturn was even more profound.
- During 2009, many OEMs and end users were delaying making new orders and postponing existing projects. While uncertainty still exists, many industries began capital investments, including medium voltage motors in 2010 and many motor companies have reported making up a strong percentage of the losses they experienced in 2009.
- Cautious optimism permeates the market and many motor suppliers are expecting to reach pre-recession levels in 2011.
Industry Challenges
- Stiff Competition Creates the Need for Consistent Innovation
- Low-cost Imports Hinders the Growth Potential of Local Manufacturers in the North American Region
- Customer Demand for Cost-effective Solutions Necessitates Motor Manufacturers to Provide Integrated Solutions
Market Drivers
- Varying Process Requirements Incites the Demand for Custom Made Motors
- Demand for Premium Efficiency Motors Enhances Market Growth
- Increasing End-user Awareness on Product Quality, Reliability and Performance
Market Restraints
- Unfavorable Economic Conditions Weakens Growth
- Volatility of Raw Material Cost Results in Declining Order Bookings
- Highly Price-competitive Market Result in Decrease Revenues for the Local Motor Manufactures
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