Global AC Drives Market size was valued US$ xx Mn in 2019 and the total revenue is expected to grow at 6.85 % through 2020 to 2027, reaching US$ xx Mn. The report has covered Country Market trends with competitive landscape.
Global AC Drives Market Overview:
AC drives supports in improving efficiency of the system, saving energy, &to reduce motor wear. Also, less maintenance, easy to use, &rising demand for motor applications is also the main factors enhancing the demand for AC drives through the globe. AC drives increasing demand from many regions & the growing prices of electricity is powering the development of total AC drives market.
The key factors pouring the development of AC drives market are improved electricity prices, increasing demand for energy & electricity, strict regulations imposed by government in order to cut down the CO2 emissions through the consumption & production of electricity, and automation&growing urbanization. In United States., AC drives market demand has been rationally hugecomparatively to other county, with development in applications like fans, compressor, & pumps.
Furthermore, wide range of growing popularity of IIoT & opportunity in the emergency sector is further enhancing the development of AC drives market. Though, AC drives market development is anticipated to decline owing to reduction in Greenfield investment. Additionally, rising competition within the local firms’ outlooks animportant restrain for the development of this AC drives market. On the other side, the reasons which are hindering the development of AC drives market are growing prices, & complex functions like synchronization between many axes or low end drives used for basic positioning.
Key trend recognized in the global AC drives market is the transforming manufacturing industry with great adoption of IoT. With the acceptance of this technology, producers can rise productivity & efficiencies of their processes to stay competitive on aninternationallevel. This influence makes a positive environment for the demand of servo drives & motors, which in result, will also enhance the demand for these drives, as these are used in motors to get energy efficiency.
By power rating, low power segmentlead the market, due to their rising applications in building automation, food & beverages, oil and gas, construction, and other industries. Heightened construction movement in the Asia-Pacific & the MEA &Africa (MEA) will help the category to endure its control during the forecast period. Additional, rising population, changing customer food habits & lifestyle, &increasing tour & travel segment are expanding the food and beverages industry, which in result, will also push the demand for low power drives.
Asia-Pacific was the major contributor to the market, in terms of value, followed by Europe, during the historical period. The main factor anticipated to fuel the development of the Asia-Pacific market, over the forecast period, is growing industrialization & urbanization, driven by China, India, Japan, & Australia. China was the main market for AC derives in the Asia-Pacific region during the historical period. Moreover, the growing government initiatives to save electricity through energy efficiency standards are further estimated to spur the development of the market in the APAC region.
Competitive Landscape:
The objective of the report is to present a comprehensive analysis of the Global AC Drives Market including all the stakeholders of the industry. The past and current status of the industry with forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes Market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global AC Drives Market dynamics, structure by analyzing the Market segments and project the Global AC Drives Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Raw material portfolio, growth strategies, and regional presence in the Global AC Drives Market make the report investor’s guide.
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Global AC Drives Market, by Voltage
• Low
• Medium
Global AC Drives Market, by Power Rating
• Low
• Medium
• High
Global AC Drives Market, by Application
• Pumps
• Fans
• Extruders
• Conveyors
Global AC Drives Market, by End Use
• Oil and Gas
• Metals and Mixing
• Food and Beverages
• Power Generation
Global AC Drives Market, by Region
• North America
• Europe
• Asia-Pacific
• MEA & Africa
• Latin America
Global AC Drives Market Key Players
• ABB (Switzerland)
• Siemens (Germany)
• Danfoss Group (Denmark)
• Schneider Electric (France)
• Rockwell Automation, Inc.(U.S)
• 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. (U.S)
• Delta Electronics, Inc. (Taiwan)
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