Energy efficiency drives electric drives in Europe
In Europe, the food and beverage industry has been a major user of AC electronic drives. Although the economic slowdown has had an effect on slowing the purchase of drives, the cost of energy has heightened the interest for energy-efficient, highly reliable and appropriate product customization, according to a study from Frost & Sullivan.
According to the report, Strategic Analysis of Electric Drives Market in the European Food and Beverage Industry, the market, with revenues of 205 million Euros ($269 million) in 2010, is expected to reach 313 million Euros ($411 million) in 2017, producing a compound average growth rate of 6.2 percent over the seven-year period. Electric drives represent almost two-thirds of the energy consumption in the food and beverage industry. Surging energy prices have, however, had a negative impact on the performance of this industry. In this context, energy-efficient drives have helped processors reduce production costs, improve ROI and lower CO2 emissions, according to the study.