Global AC Drives Market Synopsis
The global AC drives market is expected to grow during the forecast period as stated by Market Research Future (MRFR) majorly due to the regulations in energy efficiency. The global market is calculated to grow at CAGR of 7.05% during the forecast period of 2016 to 2023. The regulations in energy efficiency plays a significant role in accelerating the demand for AC drive in the global market.
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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AC Drives Industry Highlights
AC drive is an equipment that is applied to monitor the speed of an electric motor. The electric motor’s speed is governed by altering the frequency of the electricity transmitted through the motor with the assistance of these drives. The drives are mostly used in sectors such as power generation, oil & gas, metals & mining, food & beverage, chemicals & pharmaceuticals, and water & wastewater. Within these verticals, AC drives are arranged in applications such as conveyors, compressors, and pumps. The key benefits of AC drives include reverse operation, the elimination of mechanical elements to decrease maintenance cost, and energy saving. Factors like surging GDP in the emerging economies and rapid industrialization are propelling the AC drive market globally.
Economies such as India and China are offering an opportunity to several AC drive makers as these drives are placed with compressors and conveyors that are being applied in an assortment of industrial applications and manufacturing facilities, fuelling the AC drives market. Furthermore, governments throughout the world are putting focus on lessening energy consumption in households and verticals by allowing them to apply energy-saving methods. AC drives extend ideal solutions for saving energy by enhancing the efficacy of the machineries with the incorporation of AC power. This is likely to fuel the worldwide demand for AC drives market.
Leading Plyers of AC Drives Market Report are:
- Siemens (Germany),
- ABB (Switzerland),
- Schneider Electric (France),
- Danfoss Group (Denmark),
- Mitsubishi Electric Corporation (Japan),
- Delta Electronics, Inc. (Taiwan),
- Rockwell Automation, Inc. (US),
- WEG (Brazil),
- Yaskawa Electric Corporation (Japan),
- Hiconics Drive Technology Co. Ltd (China),
- Toshiba International Corporation (Japan),
- Parker Hannifin Co (US),
- Hitachi Ltd (Japan)
Global AC Drives Market Segmental Analysis
The global AC drive market segmentation is based in terms of the following key dynamics: application, voltage, power rating (kW), and end-user.
By Power Rating (kW)
- Low power
- Medium power
- High Power
- 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.
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Table Of Contents
1 Executive Summary
2 Market Introduction
3 Research Methodology
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
6 Global AC Drives Market, By Voltage
7 Global AC Drives Market, By Power Rating (KW)
7.2 Low Power
7.3 Medium Power
7.4 High Power
8 Global AC Drives Market, By Application
9 Global AC Drives Market, By End-Use
9.2 Oil & Gas
9.3 Power Generation
9.5 Metals & Mining
9.6 Water & Wastewater
9.7 Chemicals & Pharmaceuticals
10 Global AC Drives Market, By Region
11 Competitive Landscape
12 List Of Tables
13 List Of Figures
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