AC Drives Market Forecast and Trends Analysis Research Report 2020-2027

 

The GMI Research expects the AC drives market to expand at a higher rate. From a regional perspective, North America is projected to lead the market due to the continuous urbanization and developments in the end-use industries for applications. The strong demand for HVAC applications provided by AC drives contributed to the growth of the market.

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AC Drives Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

Some of the major factors contributing to the growth of the AC drives market include the rapid urbanization and increasing industrialization growth rate worldwide. As per the world investment report in 2018, emerging countries across the globe amounted to US $671 billion of inflow from foreign direct investment, which is mainly supported by China and Singapore. The strong penetration rate in energy optimization for various industrial processes is a key driver supporting the growth of the market. AC drives have numerous applications in a large range of industries. For example, it is utilized in pumps, conveyors, compressors, etc. With the increasing industrial application, the market will bring its own space in several end-use sectors. In addition to this, low maintenance costs regarding AC drives will further propel the growth of the AC drives market share in terms of revenue.

The governments supporting regulations for energy optimization have bolstered the growth of the market. For example, the launch of ISO 50001 in the building and automation sector can incorporate the building automation systems for energy optimization. This has led to an upsurge in demand for energy optimization, thereby fuelling the growth of the AC drives market around the world. Internet of Things (IoT) and its applications are predicted to bring various growth opportunities to the market. For example, the novel design of IoT-based intelligent AC drive systems has been developed by using a space vector algorithm to enhance an electric motor's efficiency. On the other hand, the factor hindering the market growth include decreased foreign direct investments in the greenfield industry. On the other edge of the spectrum, local vendors in the market provide a comprehensive list of products is also restraining the market growth.

AC Drives Market’s leading Manufacturers:

·        ABB

·        Danfoss

·        Schneider Electric

·        Siemens

·        Mitsubishi Electric Corporation

·        Fuji Electric Co.

·        Emerson Electric Co.

·        Hitachi, Ltd.

·        PARKER HANNIFAN CORP

·        Rockwell Automation, Inc.

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:

·        North America

o   United States of America

o   Canada

 

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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