Integrated Drive System Market: Introduction
Advancement in technology has led to a continuous increase in deployment of smart manufacturing factories over the past few years. This has fuelled the demand for drive technologies, which in turn is driving growth of the integrated drive market. The integrated drive system helps integrate electrical and mechanical components into complete coordinated automation systems. These integrated drive systems are used to enhance efficiency, international competitiveness of industrial production, and productivity at low costs. Integrated drive systems are used among varying horse powers in various industries, such as automotive, pharmaceutical, oil & gas, food & beverage, and mining.
Manufacturers benefit by installing integrated drive systems in their factories. For instance, the global sugar industry faced a second year surplus in 2012, reaching a record of 10.3 million tons of surplus, as compared to 9.2 million tons in the previous year. To address this challenge many manufacturers installed integrated drive systems to improve asset utilization, enhance sustainability, reduce operating costs and increase turnover. The major applications of integrated drive systems in waste water management are fans, compressors, and pumps. The increasing concern over declining ground water levels and water scarcity has led to various innovative ideas in wastewater treatment. With the help of integrated drive systems, the process of waste water treatment has become fully automated, which helps save time while offering better quality.
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Integrated Drive System Market: Drivers & Restraints
Globally, the growing need for efficiency and automated systems in factories are expected to fuel the demand for integrated drive systems over the forecast year. Moreover, regulations on energy efficiency along with advancement and rapid growth in automation are further expected to upsurge demand for the integrated drive systems market during the forecast period.
However, the system’s installation and maintenance cost is expected to hamper growth of the market during the forecast period. Additionally, the uncertainty related to the market for the industries (automotive and oil & gas) in which these systems are installed and lack of skilled workers are further expected to restrict growth of the market.
Integrated Drive System Market: Segmentation
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Integrated Drive System Market: Key Trends
Integrated drive systems help mitigate many indirect costs related to drive train projects. Using multiple vendors for each engineering component burdens the user as well as increases the cost. Therefore, purchasing an integrated drive system saves time, enhances the productivity of the facility and increases efficiency.
Growing industrialization and the high demand for accurate and fast drive systems (to achieve greater production) are forecasted to increase the demand for integrated drive systems. Implementation of the just-in-time concept by many in the automotive industry has fostered the growth of integrated drive systems. Moreover, high growth of industrialization in the APAC region, which includes customized robots, machinery, and electronics assembly for different industries has fueled the demand for integrated drive systems in the region. In the APAC region, growing countries, such as India, Japan and China are also expected to see a rise in the demand for integrated drive systems owing to the increase in demand for automated systems.
Integrated Drive System Market: Key Players
Examples of some market participants in the global passenger stairs market identified across the value chain include:
- Gate GSE
- Denge Airport Equipment
- TLD Group
- Omega Industrial Products
- Sitnar Corporation
- Metal Solutions Design & Fabrication LLC
- NMC Wollard Inc.
- FMC Technologies
- Excel Group of Companies
- TEC Huenert GmbH
- Absolute GSE Inc
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