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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.
On the basis end-use, the market is segmented as oil & gas, power generation, and water & wastewater, among others. Power generation segment is estimated to dominate the market during the forecast period due to rising investment in renewable energy, across the globe. Further, AC drives are widely used in manufacturing industries to regulate and control equipment, such as fans, conveyors, machine spindles, and pumps to improve the efficiency of equipment and reduce energy consumption by 35-40%. These factors will help increase the growth of AC drives market within the power generation sector.
The global AC drives market is expected to grow at ~ 7.05% CAGR during the forecast period.
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Market Research Analysis
Asia-Pacific accounts for the largest market share and the fastest growing region as well.
Region wise, Asia-Pacific held the largest share of the global AC drives market in 2017. It is estimated that Asia-Pacific would be the fastest growing market during the forecast period, mainly due to the 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.
GLOBAL AC DRIVES MARKET 2018-2023
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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By Power Rating (kW)
- Low power
- Medium power
- High Power
- Oil & Gas
- Power Generation
- Metals & Mining
- Water & Wastewater
- Chemicals & Pharmaceuticals
The key players of global AC drives market are ABB (Switzerland), Siemens (Germany), Danfoss Group (Denmark), Schneider Electric (France), Rockwell Automation, Inc. (US), Mitsubishi Electric Corporation (Japan), Yaskawa Electric Corporation (Japan), WEG (Brazil), Toshiba International Corporation (Japan), Hiconics Drive Technology Co. Ltd (China), Hitachi Ltd (Japan), Parker Hannifin Co (US), Delta Electronics, Inc. (Taiwan), and others.
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
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Keywords: AC Drives Market, AC Drives Market 2020, AC Drives Market 2021, AC Drives Market Size, AC Drives Market Share, AC Drives Market Analysis, AC Drives Market Forecast, AC Drives