Global AC Drives Market Share and Analysis Report

The GMI Research foresees an augmentation in the AC Drives Market over the forecast period. This is because of the mounting endorsement of industrial internet of things to increase efficiency, economical cost, and potential to operate on both low and high power exercises.

Introduction of the AC Drives Market

AC drive refers to an autonomous device implemented to manage the velocity of a motor by fluctuating magnetic flux, voltage, and recurrence in a circuit. Further, the drivers help to enhance the effectiveness of the system to shrink motor wear and conserve energy. Its weight is 20 to 40% less than the equivalent DC motor thus reduces mechanical stress.

Key Players of Market:

  • Mitsubishi Electric Corporation
  • ABB
  • Schneider Electric
  • Danfoss
  • Siemens
  • Fuji Electric Co.
  • Emerson Electric Co.
  • PARKER HANNIFAN CORP
  • Rockwell Automation, Inc.
  • Hitachi, Ltd.

AC Drives Market Dynamics

Rapid industrialization and accelerating urban population are the prime factors compounding the growth of the global AC drives market. In accordance with the world investment report published in 2018, the emerging countries gauged for nearly US$ 671 billion of foreign direct investment inflow, primarily conferred by Singapore and China. In addition, the accelerating seepage of energy efficiency for various industrial procedures is further propelling the market growth. Moreover, the aggravating endorsement of AC Drivers across enormous industrial applications such as compressors, conveyors, and pumps, further stimulated the market growth. The low maintenance cost and increasing incorporation of the internet of things will strengthen the AC drives market share.

Besides this, the Favourable strategic norms imposed by the government for power optimization have paved the way for market growth. For instance, the execution of ISO 50001 in the construction and automation industry can incorporate building mechanization systems for power efficiency. For instance, the latest design of IoT-based intelligent AC drive systems developed using a space vector algorithm to enhance the effectiveness of a motor vehicle has supplemented the market growth. However, less FDI in the Greenfield sector is hampering the global AC drives market’s size. Moreover, local producers across the market offering a diversified list of products is a major challenge faced by upcoming producers.

Voltage Segment Drivers

As per the Voltage segment, medium voltage is contemplated to expand at a faster compound annual growth rate over the forecast period. Medium voltage has a broad end-user base with its application in various industries to serve the need of high as well as low voltage. Besides this, it is increasingly deployed in consumer electronics as it provides various benefits like lower cost, better power factor & accessibility, portable size, etc.

Application Segment Drivers

The compressors segment is predicted to seize a prominent share in the near future. The aggravating endorsement of compressors for several applications like industrial cleaning by air blast, functioning of small engines, plastic production, and other industrial products are driving the market’s robust growth. Moreover, the expansion in the production and processing industry has stimulated the demand for compressors in the market. It is also implemented in electronics, semiconductors, and healthcare has propelled the AC drives market size.

AC Drives Market Segmentation:

Segmentation by Voltage
  • Low Voltage
  • Medium Voltage
Segmentation by Power Rating
  • Low Power
  • Medium Power
  • High Power
Segmentation by End-Use Industry
  • Oil & Gas
  • Water & Wastewater
  • Power Generation
  • Building Automation
  • Food & Beverage
  • Metals & Mining
  • Chemicals & Petrochemicals
  • Others
Segmentation by Application
  • Pumps
  • Fans
  • Compressors
  • Conveyors
  • Extruders
  • Others

Segmentation by Region:

  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • RoW
    • UAE
    • Brazil
    • South Africa
    • Saudi Arabia

About GMI Research

GMI Research, a consulting and market research organization supports various to apprehend the influence of market dynamics like growth opportunities, share, restraints, and upcoming challenges. Our huge team of analysts and experts perform market intelligence studies to certify appropriate and factual research reaches various sectors. The foremost aim of GMI Research Organization is to update clients with approaching growth chances. We offer a comprehensive support to our client through strategic services to reach a judicious decision.

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