At the same time, the market is also set to benefit from increasingly competitive price levels.
The move toward more competitive prices across all product sectors has expanded the potential customer base and is offering suppliers the opportunity to capitalise on new applications.
Supported by these trends, the Chinese variable speed drives market is estimated to grow at a compound annual revenue growth rate of 6.3% to reach $1.87 billion in 2010.
Among the product sectors, robust growth is anticipated for servo and standard AC drives.
These technologies are expected to increasingly shift to dominate demand and revenues within the variable speed drives market.
With an expected 13.4% annual revenue growth rate and a compound annual unit growth rate of 14.3% over the 2003 to 2010 period, the servo drives sector is in line for the greatest individual advance in both revenue and demand terms.
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