AC drives are used to control the speed of an electric motor that are used in electrical products. The speed of the motor is controlled by changing the frequency of the electricity passing through the motor. The AC drives are commonly used in industries, such as oil & gas, power generation, food & beverage, metals & mining, and others. The major advantages of AC drives include energy saving, reverse operation, and elimination of mechanical components in order to reduce maintenance cost.
AC drives are used primarily for controlling the speed level of an electric motor that is used in electrical products. The motor speed is controlled and regulated by changing the frequency level of the electricity passing through the motor. Some of the major advantages of ac drives are reverse operation, energy saving, and elimination of mechanical components so as to curb down the maintenance cost.
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The growing demand for AC drives market is attributed to the growing industrilization, across the globe and rising need for energy efficient products in oil & gas, power generation, and building automation industries. Countries such as the US, China, and India are continously focusing on investment in advanced technology including industrial Internet of Things (IIoT) to improve the energy efficiency in electrical and electronic components used in building automation and power sector. However, the global AC drives market could be restrained by the cavitation effect in AC drives.
Global AC Drives Market, By Voltage
Global AC Drives Market, By Power Rating (kW)
- Low power
- Medium power
- High Power
Global AC Drives Market, By Application
Global AC Drives Market, By End-Use
- Oil & Gas
- Power Generation
- Metals & Mining
- Water & Wastewater
- Chemicals & Pharmaceuticals
The global ac drives market is geographically segmented into four major regions, namely Asia Pacific, Europe, North America, the Middle East & Africa, and South America.
Among these geographical areas, the Asia Pacific regional market held the highest share percentage in AC drives as per the 2017 released study report. The market is expected to grow during the forecast period with the highest growth percentage and cement its positioning at the top of the global rankings for the foreseeable future. The regional market’s positioning globally is due to the increasing pace of urbanization and industrialization. Additionally, the proliferating rate of demand for energy efficient equipment and favorable government plans are slated to strikingly boost the global market for ac drives in Asia Pacific. The fast-paced industrialization and the booming GDP level across emerging nations like China and India is reportedly opening new opportunities to various AC drive manufacturers.
Across the globe, governments are laying increasing focus on curbing down the consumption of energy across industries and households by encouraging them to instead use various energy-saving techniques. AC drives provide a precise solution to save energy by improving the efficiency level of machines using AC power. This is expected to drive the growth of the market across all the above-mentioned regions.
The global AC drives market includes a host of different players, in both large and small-scale level. Some of the key players identified by MRFR are as follows Schneider Electric (France), ABB (Switzerland), Siemens (Germany), Toshiba International Corporation (Japan), Danfoss Group (Denmark), Hitachi Ltd (Japan), Rockwell Automation, Inc. (US), Delta Electronics, Inc. (Taiwan), Mitsubishi Electric Corporation (Japan), Hiconics Drive Technology Co. Ltd (China), WEG (Brazil), Parker Hannifin Co (US), Yaskawa Electric Corporation (Japan), and others.
Scope of the Report
This report provides an in-depth analysis of the global AC drives market, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East, Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the AC drives market by its voltage, power rating, application, end-user, and by region.
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Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
5 Market Dynamics
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Porter’s Five Forces Analysis
5.6 Value Chain/Supply Chain Analysis
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