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Statistics from IMS Research show that the worldwide market for large motors experienced double-digit revenue and unit growth in 2008, reaching a size of USD3.5bn (GBP2.2bn).

The research also revealed that more than 28,000 units were shipped during the year.

All regions and industry segments exhibited strong performance, with particularly rapid growth seen in China and in the oil-and-gas, marine, metals and mining sectors.

Full order books were reported by suppliers of large motors and manufacturing lead times averaged between six months and one year.

This is expected to cause the growth to carry over into 2009, when the large motors market is forecast to increase by more than five per cent in revenue terms over 2008 levels.

The full extent of the global economic downturn is expected to be felt by the large motors market in 2010, when revenues are forecast to decline by more than 15 per cent and unit shipments are projected to drop by more than 13 per cent.

Market growth is forecast to be relatively flat in 2011 as the economic recovery is expected to be gradual and prolonged.

However, after this period of stagnation, the large motors market is set to return to double-digit growth rates by 2012, assuming that the economic recovery picks up momentum over time.

The world market for large motors is forecast to grow by a compound annual growth rate of 1.9 per cent in terms of revenues through 2013.

Western Europe, the US and China were the three largest regions in terms of large motor sales in 2008, together accounting for 62 per cent of total market revenues.

Other notable regional markets include Brazil, Japan, India and the Middle East.

Metals, oil and natural gas and power generation were the three largest market segments in 2008, with sales of large motors into these industries accounting for about 56 per cent of total revenues.

The global economic downturn has had an adverse effect on most of the industry sectors that utilise large motors.

Alex Chausovsky, research manager of the Motion and Drives group at IMS Research, said: ‘There are two distinct groups of industries that have been affected to varying degrees.

‘Industry sectors that have links to population growth and increased urbanisation, such as oil and natural gas, power generation and water and wastewater, have held up relatively well during the recession.

‘In contrast, heavy industry sectors, such as marine, metals, mining and pulp and paper, have suffered greatly as a result of the downturn.’ ABB and Siemens continue to dominate the large motors market in terms of market share, together accounting for nearly half of all market revenues in 2008.

Other notable suppliers include Converteam, GE, Teco and TMEIC, according to the statistics.

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