Substantial Growth Foreseen in Chinese Servo-System Market
Aug. 1, 2007
Servo-system revenues in the Chinese market increased by 26.8%.
Servo-system revenues in the Chinese market increased by an estimated 26.8% in 2006, according to a new report by IMS Research.
The analysts estimate that the Chinese servo-system market approached $362 million in 2006. The market is expected to grow steadily to about $953.8 million in 2011.
IMS says servo systems account for more than 80% of revenue in the total motion controls market in China. As the main impetus for growth in the motion controls market, servo systems are expected to grow at a compound annual growth rate of more than 20% in terms of revenue over the next five years.
The competitive environment also is evolving rapidly, says IMS. The existing market framework, in which Western, Japanese and local suppliers seldom compete directly and primarily focus on a dedicated market, is changing due to Taiwanese and Korean companies entering this market.
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