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Engineering Industry Reports and Surveys
News Release from: Frost and Sullivan
Edited by the Engineeringtalk Editorial
Team on 26 July 2002
Siemens scoops drives award
Frost and Sullivan has presented its prestigious Market Engineering Leadership Award to Siemens Automation and Drives for outstanding performance in the European electric drives market.
Frost and Sullivan has presented its prestigious Market Engineering Leadership Award to Siemens Automation and Drives for outstanding performance in the European electric drives market "The company has continued to show a consistent advance over recent years, leveraging improved technology, high quality, service, and innovation to support rising customer demand and use of drive solutions all of which have contributed to the company maintaining its leading industry rank", notes Frost and Sullivan Research Manager, Mik Sabiers
Siemens A and D's strong accent on offering technologically innovative products at competitive prices has provided growing customer benefits, particularly in the case of its fourth generation Micromaster series.
"One of Siemens key strengths with the new Micromaster series was the fact that good technological progress was realised.
The highly cost competitive nature of this advanced drive solution has supported customer interest and acceptance of the drive solution, and contributed to a fast take up of the series sustaining the company's position", explains Sabiers.
In an increasingly competitive market, Siemens has forged an effective service and technical support network across Europe.
To ensure rapid delivery of drive technology, Siemens established world-class logistics, In addition, a concerted focus on developing Internet-based commerce strategies has further enabled Siemens to build market share and increase sales.
A keen understanding of market realities and customer perceptions together with ongoing technological improvements has underlined the geographic expansion of Siemens throughout Europe and the company retains the leading position with a market share of in the region of 15% according to Frost and Sullivan.
The award recipient has continued to nurture its core base in Germany - the largest single market for drives in Europe.
It has, concurrently, posted continued gains in other crucial country markets.
This has translated to Siemens posting the highest revenue sales in the European electric drives market.
"Awards such as the Market Engineering Leadership Award are generally important and have a high status because they are also a reflection of our work.
If - as in this case - we receive an award for our work, it confirms that our strategy to continually and consistently match our products to the requirements of our customers is correct and that we will continue to pursue this goal", comments Prof Werner Vogt, Division President Standard Drives Siemens A and D.
According to Frost and Sullivan analysis, the dynamic electric drives market is characterised by rising user demand, widening applications, and continuing product development.
Positive trends are projected to continue in 2002 with the market driven by the fast advances in demand for low power rated alternating current (AC) drives.
Nevertheless growth is expected across the total AC market with revenues projected to advance from a value of $1.31 billion in 2001 to $1.70 billion in 2008.
To choose the recipient of this award, Frost and Sullivan analysts tracked revenue and market share of leading electric drive manufacturers in Europe.
Through extensive interviews and secondary research of proprietary data sources, Frost and Sullivan compared all manufacturers in the drives field, with Siemens claiming the number one rank.
Overall, the highest revenue sales in the European market, high quality drive technology and broad market and customer knowledge have all contributed to Siemens sustaining its leadership position and in recognition of these factors, Frost and Sullivan presented the Market Engineering Leadership Award for the European electric drives market to Siemens.
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