The demand for medium- and high-voltage motors is predicted to grow in Southeast Asia in years to come as the need for new automation technology in major end-user segments increases.
The market made $615.4 million in 2012 and is expected to reach $802 million by 2019, according to the study, "Southeast Asian Medium- and High-Voltage Motors Market" by Frost & Sullivan.
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"Energy requirements have escalated in most Southeast Asian countries, and electric motors account for almost two-third of the energy consumption in an industry," said Vineeth Purushotham, industrial automation and process control research analyst for Frost & Sullivan. "This highlights the need for high efficiency and reliability, fuelling the adoption of customized medium- and high-voltage motors."
When is comes to medium- and high-voltage motor selection for use in critical applications, end users are most interested in quality and reliability. In order to remain competitive, vendors are producing more efficient technology, such as condition monitoring equipment, that reduces maintenance costs and power loss in motors by continuously monitoring the health of the motor.
Condition monitoring equipment is offsetting high initial investments in medium- and high-voltage motors by guaranteeing faster returns. It is important for manufacturers to educate their end users on the benefits of these types of equipment, and how medium- and high-voltage motors can improve operations to ensure market growth.
"Moreover, established companies are looking to consolidate their market position through strategic mergers and acquisitions, which will help complete their product range and gain local acceptance," said Purushotham. "The recent ABB acquisition of Baldor Electric, the leading supplier of medium- and high-voltage motors in North America, is a clear indicator of this fact. Though the main objective was to acquire a share in the American market, ABB's product range widened through the acquisition, making it a force to reckon with in the Southeast Asian market."
