The global market for medium voltage (MV) motors will experience “sub-par” growth in the period to 2015, according to a new forecast from IMS Research. The market, still recovering from the global downturn, is now facing challenges from a slowing Chinese economy, the Eurozone debt crisis, and a shaky US economy.

During 2010, the MV motors market contracted by an estimated 15%, mainly because the large projects business was dormant due to investors shelving plans, and funds being frozen, re-allocated or cancelled. However, 2011 appears to have seen a bounce-back, led by the oil and gas and mining sectors.

“The oil and gas industry has seen major revenue growth during 2011,” says IMS research analyst, Mark Meza. “In North America, hydraulic fracking techniques have breathed new life into existing wells once thought tapped out, and this has acted to jump-start the sector coming out of the downturn. The global mining sector was also reignited during the year.”

Despite these gains, the outlook for MV motor sales remains uncertain. China, a major producer and user of MV motors, has is showing signs of a significant industry-wide slowdown that will affect the global market for these motors. And the Eurozone crisis is causing some European MV motor manufacturers to fear a contraction in 2012, and possibly 2013.