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Frost & Sullivan: Modernization of Mining Automation in Europe and Russia Sustains Power Conversion Market

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7 Pages
English

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Frost & Sullivan: Modernization of MiningFrost & Sullivan: Modernization of Mining Automation in Europe and Russia Sustains Power Conversion Market PR Newswire LONDON, Jan. 20, 2014 -- Need to reduce power consumption in the face of escalating energy costs stimulates market growth The need to modernize automation in the mining industry has lent momentum to the power conversion market in Europe and Russia. Market growth is bolstered by the fierce competition among mining companies, rising energy costs, and increasing awareness on the benefits of electric drives and motors. New analysis from Frost & Sullivan (http://www.motors.frost.com), Power Conversion Market in the European and Russian Mining Industries, finds that the market earned revenues of $221.3 million in 2012 and estimates this to reach $272.6 million in 2017. The research covers electric motors and electric drives. Electric motors have a greater market share because they are a key component of electric drives and find use in a wide range of applications. Electric drives also hold tremendous promise due to their high-tech, energy-efficient functions. "Power conversion products help optimize plant performance, improve functionality, lower production costs, and boost profit margins," said Frost & Sullivan Industrial Automation & Process Control Research Analyst Maryna Osipova.

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Published 20 January 2014
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Frost & Sullivan: Modernization of Mining Automation in Europe and Russia Sustains Power Conversion Market

PR Newswire

-- Need to reduce power consumption in the face of escalating energy costs stimulates market growth

The need to modernize automation in the mining industry has lent momentum to the power conversion market in Europe and Russia. Market growth is bolstered by the fierce competition among mining companies, rising energy costs, and increasing awareness on the benefits of electric drives and motors.