The global integrated drive systems market is expected to grow at an impressive CAGR of close to 6% during the forecast period, according to Technavio's latest market research.
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Technavio has published a new report on the global integrated drive systems market from 2017-2021. (Graphic: Business Wire)
In this market research report, Technaviocovers the market outlook and growth prospects of the global integrated drive systems market for 2017-2021. The market is segmented by solution (hardware and software and services) and by end-user (process industries and discrete industries).
Technavio's research analysts segment the global integrated drive systems market into the following regions:
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Integrated drive systems market in EMEA
Oil and gas, mining, and food and beverage are the major end-user industries in EMEA. This region had the highest revenue during the base year, and this is expected to continue throughout the forecast period. The oil and gas industry is recovering from the recent fluctuations in crude oil prices. Investments in this industrial segment will create an increase in demand for integrated drive systems. The Middle East countries, especially Iran and Saudi Arabia, are the major producers of oil and gas across the world. The use of integrated drive systems in the oil and gas industry and the growth in the industry are expected to increase the demand during the forecast period.
According to Bharath Kanniappan, a lead automation research analyst at Technavio, "The water and waste water industry in the region also witnesses a high demand for integrated drive systems. The demand for potable water from countries like Kuwait has led to many investments on desalination plants; these facilities are expected to use integrated drive systems for optimum operations."
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Integrated drive systems in Americas
The Americas is the second largest revenue contributor for the integrated drive systems market during the base year. Oil and gas, automotive, and power industries are the major end-users of integrated drive systems. The US, Mexico, and Brazil are some of the major revenue contributors in the region.
Increasing shale gas exploration and the growing demand for oil and gas from automobile and transportation sectors have benefited the integrated drive systems market, as these systems are used to achieve optimum operational efficiency. The oil and gas industry in the Americas is regaining from the global decline in crude oil prices; revenue from this industry is expected to have a slower growth during the forecast period.
Integrated drive systems market in APAC
APAC was the least revenue generating region for integrated drive systems during the base year, and this is expected to continue throughout the forecast period. Water and waste water, oil and gas, and food and beverage are the major end-user industries of integrated drive systems in the region. China, India, Singapore, and South Korea are some of the major revenue contributors.
"The growing demand for potable water in countries like Singapore and India is leading to investments in water treatment plants and water supply systems. Singapore is mainly dependent on Malaysia for water. These reasons have led to an increase in investments in water treatment plants and desalination plants. This will have a positive impact on the integrated drive systems market," adds Bharath.
The top vendors in the global integrated drive systems market as highlighted in this market research analysis are:
- Bosch Rexroth
- Schneider Electric
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