The high power AC drives market rebounded in 2010, recovering from the economic downswing in 2009. For many countries, the intensity and impact of the economic shocks depended on the ability to implement counter-cyclical policies. For Latin America, the global turmoil represented a confluence of negative shocks: freeze in global credit markets, weaker external demand, and lower commodity prices. However, the impact on Latin America was not as severe as in other regions of the world. Many of the leading countries such as Brazil, Argentina, and Mexico already have a substantial industrial base. With rich natural resources and increasing world demand, there is an opportunity to leap frog other regions of the world. High power AC drives will play an important role in achieving national, if not private, industry goals.
High power AC drives suppliers are in a good overall position to participate in future growth because AC drives are a key product for improving energy efficiency in both the manufacturing and building automation sectors. AC drives are also a key product in energy production, utilizing renewable sources of energy, and in water management processes. Knowing that Latin America as well as the rest of the world is suffering from a shortage of energy and lack of clean water, sustainability applications that utilize AC drives will remain in high demand long into the future.
While the global economy continues to expand unevenly, with emerging economies growing faster than advanced economies and consequently facing different challenges and risks, in many emerging market economies, including in Latin America, the recovery has been much faster. ARC’s report provides profiles of different countries in Latin America and shipments by country.
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