The global demand for AC Drives Market is presumed to reach the valuation of nearly USD XX MN by 2030 from USD XX MN in 2022 with a CAGR of XX% under the study period of 2023-2030.
An ac drive is an electronic device used to control the speed of an electric motor. The pace is controlled by altering the frequency of the electrical supply to the motor. It is suitable for controlling the torque, speed, horsepower, and direction of an AC motor. The AC driver can switch the inverter as per the requirement of the load. The major components of the AC drive are ac motor, motor control section, and operator interface. AC drive uses have augmented radically in HVAC (heating, ventilation, and air conditioning) applications. The AC drives are usually applied to air handlers, chillers pumps, and tower fans.
Market Dynamics
The growing urbanization & high rate of industrialization worldwide is the primary factor driving the AC drives market over the forecast time frame. The increasing advances in technology have made the size, price, reliability, and performance of AC drive very appealing in industrial variable speed, thus creating more demand for the AC drives. Also, the rising need for energy optimizations in different industrial processes is positively impacting the growth of the AC drives the market. Moreover, the increasing applications in the industrial internet of things (IIoT) are likely to provide profitable growth opportunities for key players of the AC drives market in the coming years.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each segment in the global market of AC drives.
Market Segmentation
This section of the AC drives market report provides detailed data on the segments by analyzing them geographically, thereby assisting the strategist in identifying the target demographics for the respective product or service.
By Voltage
- Low Voltage
- Medium Voltage
- High Voltage
By Application
- Pumps
- Fans
- Compressors
- Conveyors
- Extruders
- Other Applications
By End-Use Industry
- Oil & Gas
- Power Generation
- Water & Wastewater
- Building Automation
- Food & Beverage
- Metals & Mining
- Chemicals & Petrochemicals
- Other Industries
By Power Rating (kW)
- Low Power Drives
- Medium Power Drives
- High Power Drives
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for AC drives market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global AC Drives Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the AC drives market include ABB LTD., Danfoss Group, Mitsubishi Electrical Co., Schneider Electric Co., Siemens Ag Fuji Electric Co. Ltd., Emerson Electric Co., Hiconics Drive Technology Co. Ltd., Hitachi Ltd., Parker Hannifin Co., Rockwell Automation Inc., Yaskawa Electric Corporation, WEG. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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