|
|
 |
|
Viewing report
|
|
|
|
Electric Motors Market in South Korea
Frost & Sullivan, April 2011, Pages: 48
This Frost & Sullivan research service titled Electric Motors Market in South Korea provides an analysis of the advancements in the electric motors market and the guidelines developed by the Government with regard to the efficiency. It covers key market drivers and restraints, industry challenges, energy efficiency trends and identifies the major industries that are likely to use high-efficiency motors in future. In this research, Frost & Sullivan's expert analysts thoroughly examine the following technologies: AC asynchronous, AC synchronous and DC motors.
The research study is aimed at understanding the industrial electric motors market in South Korea. The key focus area of this research is on the high-efficiency industrial motors. The research covers key market drivers, restraints, industry challenges and energy efficiency trends. The research excludes electric motors used in domestic appliances and other non-industrial applications. A forecast has been made on the revenues in the industry for a specific period and the advancements in technology that are likely to affect the sales of electric motors in the future.
Market Overview
Efficiency Levels of Motors Do Not Significantly Affect the Decision Making Process in the South Korean Electric Motors Market
With electric motors consuming 60 per cent of the overall electricity used in industries, end users realise that they have to focus their energy conservation efforts on getting their industrial plants fitted with energy-efficient motors. The recent initiatives to lower carbon dioxide emissions have led to numerous customers opting for high-efficiency equipment in their production facilities. “Several new technologies have been incorporated to improve efficiency and these include variable speed drives, copper rotor technology, and advanced materials to reduce weight and size,” says the analyst of this research. “The objective is to improve the system efficiency rather than just enhancing motor efficiency.” South Korea has been developing industrial clusters, which makes it easier for motor vendors to establish their sales and service centres near the offices of major manufacturers.
The $850-Million Market to Grow Steadily to $1.06 Billion at a Compound Annual Growth Rate of 3.3 Per cent from 2009 to 2016
The high efficiency of electric motors also has a downside, as its long lifecycle offers little scope for replacement sales. The average life span, including repairs, for a standard-efficiency motor rated between 7.5 kW and 75 kW and operating daily at about 75 per cent of full load is approximately 12 years. This increases to about 13.5 years with the use of a high-efficiency motor and even longer with a premium-efficiency one. The market is also highly price sensitive, and this squeezes participants’ profit margins. The smaller manufacturers (tier-2 and tier-3) cannot compete head-on against the larger participants, as they lack the financial and technological resources.
The drop in exports will further hamper the market and disturb the balance in the gross domestic product (GDP) because most Asia Pacific countries have relatively smaller domestic markets. However, there is a solution in sight for these export and technology issues, as the Government has signed a free trade deal with the United States after several years of negotiations. This translates to a faster rate of technology transfer and improved access to other markets.
“Overall, electric motors are indispensable equipment, extensively used in all industrial, commercial and domestic establishments,” notes the analyst. “Though the market has reached maturity, the demand for electric motors is expected to be sustainable and stable, even in the long term, due continuous activity in key end-user segments.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- AC Asynchronous
- AC Synchronous
- DC Motors
Product samples
A sample for this product is available. Please Login/Register to download this sample.
|
|
|
|
