AC Drives Market Technology Analysis, Industry Size, Share, Developments and Opportunity Reach business Worth to 32.51 billion USD by 2027

The AC Drives market is growing pervasively, witnessing an exponential growth backed by the increasing investments, competitive activities, global developments, opportunity, and business trends during forecast period 2022 to 2030.

AC Drives Market Overview

AC Drives Market is projected to be worth USD 32.51 billion by 2027, registering a CAGR of 5.97% during the forecast period (2021 – 2027), The market was valued at USD 19.15 billion in 2020. AC drive is a device that is used to control the speed of an electric motor. It helps in enhancing control and reducing energy consumption, thus, ensuring energy efficiency. Moreover, the AC drives also help decrease the mechanical stress on motor control applications.

AC Drives market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.

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Globally Major key Players accelerates the AC Drives Market are Siemens (Germany), ABB (Switzerland), Mitsubishi Electric Corporation (Japan), Schneider Electric (France), Danfoss (Denmark), Rockwell Automation Inc. (US), Eaton (Ireland), Yaskawa Electric Corporation (Japan), Parker Hannifin Corp. (US), and Hitachi Ltd. (Japan).

Most important Segments of AC Drives market covered in this report are,

The global market for AC drives is segmented based on voltage, application, end use, and region.

By voltage, the global market has been segmented as up to 1 kV and above 1 kV. The above 300 MW segment is expected to hold the largest share during the forecast period. The up to 1 kV voltage segment generally covers electrical equipment with low voltage ratings. The AC drives in this range are used in various end-use industries, including residential, commercial, and transportation. The increasing use of low voltage electrical equipment and the constant need to protect the equipment from electrical surges is expected to drive the growth of the low voltage segment in the global AC drives market during the study period.

By application, the global market has been segmented as pumps, compressors, fans, conveyors, extruders, and others. Pumps are exposed to failures due to varying operating conditions, including density, pressure levels, and flow rates. To evade such situations, AC drives provide accurate speed control of motor-driven pump application, enabling reaching an adequate efficiency point. Moreover, AC drives eliminate the need for valves to control the flow. The major features of AC drives that make them suitable for pumps include accurate speed control of the pump motor, reducing mechanical stress with a soft start and stop, ensuring significant energy savings, and avoiding mechanical disturbances.

By end use, the global market has been segmented into power generation, oil & gas, food & beverage, building automation, metals & mining, chemicals & petrochemicals, water & wastewater, residential and others. Pumps are exposed to failures due to varying operating conditions, including density, pressure levels, and flow rates. To evade such situations, AC drives provide accurate speed control of motor-driven pump application, enabling reaching an adequate efficiency point. Moreover, AC drives eliminate the need for valves to control the flow. The major features of AC drives that make them suitable for pumps include accurate speed control of the pump motor, reducing mechanical stress with a soft start and stop, ensuring significant energy savings, and avoiding mechanical disturbances.

AC Drives Industry Influence of the global market report:

• Comprehensive assessment of all opportunities and risks in the AC Drives Market.
• AC Drives Market recent innovations and major events.
• A detailed study of business strategies for the growth of the AC Drives Market market-leading players.
• Conclusive study about the growth plot of AC Drives Market for forthcoming years.
• In-depth understanding of AC Drives Market, market-particular drivers, constraints, and major micro markets.
• Favorable impression inside vital technological and market latest trends striking the AC Drives Market.

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The global AC Drives market during the period has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs VPs, directors, and executives. Finally, the global market breakdown and data triangulation procedures have been employed to complete the overall market engineering processes and functions and hence, arrive at the exact statistics for all segments and subsegments.

Regional Analysis

By region, the AC drives market is segmented into Europe, Asia-Pacific, North America, the Middle East & Africa, and South America. Asia-Pacific is one of the largest markets for AC drive in the world and is one the fastest-growing market during the forecast period, mainly due to industrialization and urbanization. Moreover, the increased demand for energy-efficient equipment and supportive government plans are expected to drive the market for AC drives in Asia-Pacific. Favorable government policies and regulations aimed to increase focus on developing manufacturing sector, rising demand for energy in the region because of the growing population and rising per capita disposable income in the region and growing concern for energy optimization are some of the major factors supporting the growth of the market in the region.

LIST OF TABLES

TABLE 1 LIST OF ASSUMPTIONS 29

TABLE 2 GLOBAL AC DRIVES: MARKET ESTIMATES & FORECAST, BY VOLTAGE, 2019–2027 (USD MILLION) 42

TABLE 3 GLOBAL AC DRIVES: MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018–2026(USD MILLION) 44

TABLE 4 GLOBAL AC DRIVES: MARKET ESTIMATES & FORECAST, BY END USE,2019–2027 (USD MILLION) 48

TABLE 5 GLOBAL AC DRIVES MARKET, BY REGION, 2019-2027 (USD MILLION) 51

TABLE 6 NORTH AMERICA: AC DRIVES MARKET, BY COUNTRY, 2019–2027 (USD MILLION) 52

TABLE 7 NORTH AMERICA: AC DRIVES MARKET, BY VOLTAGE, 2019–2027 (USD MILLION) 52

TABLE 8 NORTH AMERICA: AC DRIVES MARKET, BY APPLICATION, 2019-2027 (USD MILLION) 53

TABLE 9 NORTH AMERICA: AC DRIVES MARKET, BY END USE, 2019-2027 (USD MILLION) 53

TABLE 10 US: AC DRIVES MARKET, BY VOLTAGE, 2019–2027 (USD MILLION) 54

TABLE 11 US: AC DRIVES MARKET, BY APPLICATION, 2019-2027 (USD MILLION) 54

TABLE 12 US: AC DRIVES MARKET, BY END USE, 2019-2027 (USD MILLION) 55

TABLE 13 CANADA: AC DRIVES MARKET, BY VOLTAGE, 2019–2027 (USD MILLION) 56

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