Sales in the Americas grew faster in 2007 than during 2006, despite the economic turndown. IMS attributes this to a combination of record energy costs and the push by US companies to cut their running costs. These have made drives "the darlings of the boardroom", it says.

"Motor drives continue to provide decision-makers with an effective way to manage their long-term energy costs, as well as significantly bringing down the total cost of ownership for a majority of the motors used by industry," comments IMS’ motor drives analyst, Alex Chausovsky.

The Asia-Pacific region was another area where sales grew faster during 2007 than 2006. In part, this can be attributed to the insatiable hunger for raw materials in China and India. Another factor is the increasing spending power of consumers which is driving a construction boom and boosting demand for processed food and beverages – segments of industry that rely heavily on drives. Drives are also helping to manage the region’s limited energy resources more efficiently.