Market Overview:
The global AC drives market is expected to grow from USD 9.5 billion in 2018 to USD 16.8 billion by 2030, at a CAGR of 6.5% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for energy-efficient solutions and the growing trend of Industry 4.0 across the globe. Based on type, the low voltage AC drives segment is projected to lead the global AC drives market during the forecast period.
Product Definition:
An AC drive (also called an adjustable-frequency drive, variable-frequency drive, or inverter) is a type of motor controller that drives an electric motor by switching the supply voltage to the motor between direct current (DC) and alternating current (AC). It is used to speed up and slow down motors, adjusting the output frequency to match the desired value.
Low Voltage:
Low voltage (LV) AC drives are used in various applications such as residential, commercial and industrial. The growth factor for this market is the increasing demand for energy-efficient systems. Low voltage AC drives use less power than standard voltage DC/DC converters and have a longer life span due to less stress on the components.
Medium Voltage:
The medium voltage (MV) is the range that generally represents power supply between 120 and 6,000 volts. The MV in an AC drive system represents the average power that is consumed by all connected devices. It includes losses which are inevitable in any electrical device or line and also includes some amount for overhead of management & operating costs etc.
Application Insights:
The oil & gas segment accounted for the largest market share in 2017 and is anticipated to continue its dominance over the forecast period. The growth of this application can be attributed to increasing demand for equipment that can withstand high operating temperatures. Medium-voltage AC drives are widely used across the oil & gas industry as they provide efficient power transfer due to their low voltage design.
The water & wastewater application segment is expected to register a significant CAGR during the forecast period owing to rapid industrialization, especially in developing countries such as India and China. Furthermore, growing urbanization along with rising environmental concerns regarding water pollution is likely drive product demand in this sector over the coming years.
Building automation applications are projected witness considerable growth on account of increasing adoption of smart buildings by large commercial institutions such as hospitals and schools across all major regions globally. This trend has led medium-voltageAC drives manufacturers including Siemens AG, ABB Ltd.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to increasing demand for electric drives from various end-use industries, such as oil and gas, water and wastewater, power generation, building automation. Moreover, presence of prominent players in this region is also expected to drive the market over the forecast period.
Asia Pacific is anticipated to witness significant growth over the next eight years owing to rising industrialization coupled with rapid urbanization across countries like China and India. In addition, growing investments by governments across these countries are also expected drive regional product demand during the forecast period.
Growth Factors:
- Increasing demand for energy-efficient solutions: The global AC drives market is expected to grow at a CAGR of 6.5% from 2016 to 2021, owing to the increasing demand for energy-efficient solutions across various industries.
- Rising industrial automation: The market is also witnessing growth due to the rising adoption of industrial automation in various industries, such as automotive, oil & gas, and metals & mining.
- Growing trend of retrofitting existing plants with AC drives: There is a growing trend among plant owners and operators to retrofit their existing plants with AC drives in order to improve their efficiency and save on energy costs.
- Technological advancements: The advent of new technologies such as vector control has helped drive the growth of the AC drives market by providing better performance and efficiency than traditional methodsologies used in these devices .
Scope Of The Report
Report Attributes
Report Details
Report Title
AC Drives Market Research Report
By Type
Low Voltage, Medium Voltage
By Application
Oil & Gas, Water & wastewater, Power generation, Building Automation, Food & Beverage, Metals & Mining, Chemicals & Petrochemicals, Others
By Companies
ABB, Danfoss, Schneider, Siemens, Mitsubishi, Fuji, Emerson, Hitachi, Parker Hannifin, Rockwell, Toshiba, WEG, Yaskawa
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
126
Number of Tables & Figures
89
Customization Available
Yes, the report can be customized as per your need.
Global AC Drives Market Report Segments:
The global AC Drives market is segmented on the basis of:
Types
Low Voltage, Medium Voltage
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil & Gas, Water & wastewater, Power generation, Building Automation, Food & Beverage, Metals & Mining, Chemicals & Petrochemicals, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Danfoss
- Schneider
- Siemens
- Mitsubishi
- Fuji
- Emerson
- Hitachi
- Parker Hannifin
- Rockwell
- Toshiba
- WEG
- Yaskawa
Highlights of The AC Drives Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Low Voltage
- Medium Voltage
- By Application:
- Oil & Gas
- Water & wastewater
- Power generation
- Building Automation
- Food & Beverage
- Metals & Mining
- Chemicals & Petrochemicals
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the AC Drives Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Understanding Competition Scenario
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
AC drives are electric motors that convert electrical energy into rotational motion. They are used in a variety of applications, including transportation, machinery, and appliances.
Some of the major players in the ac drives market are ABB, Danfoss, Schneider, Siemens, Mitsubishi, Fuji, Emerson, Hitachi, Parker Hannifin, Rockwell, Toshiba, WEG, Yaskawa.
The ac drives market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 AC Drives Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 AC Drives Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 AC Drives Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the AC Drives Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global AC Drives Market Size & Forecast, 2018-2028
4.5.1 AC Drives Market Size and Y-o-Y Growth
4.5.2 AC Drives Market Absolute $ Opportunity
Chapter 5 Global AC Drives Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 AC Drives Market Size Forecast by Type
5.2.1 Low Voltage
5.2.2 Medium Voltage
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global AC Drives Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 AC Drives Market Size Forecast by Applications
6.2.1 Oil & Gas
6.2.2 Water & wastewater
6.2.3 Power generation
6.2.4 Building Automation
6.2.5 Food & Beverage
6.2.6 Metals & Mining
6.2.7 Chemicals & Petrochemicals
6.2.8 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global AC Drives Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 AC Drives Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America AC Drives Analysis and Forecast
9.1 Introduction
9.2 North America AC Drives Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America AC Drives Market Size Forecast by Type
9.6.1 Low Voltage
9.6.2 Medium Voltage
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America AC Drives Market Size Forecast by Applications
9.10.1 Oil & Gas
9.10.2 Water & wastewater
9.10.3 Power generation
9.10.4 Building Automation
9.10.5 Food & Beverage
9.10.6 Metals & Mining
9.10.7 Chemicals & Petrochemicals
9.10.8 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe AC Drives Analysis and Forecast
10.1 Introduction
10.2 Europe AC Drives Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe AC Drives Market Size Forecast by Type
10.6.1 Low Voltage
10.6.2 Medium Voltage
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe AC Drives Market Size Forecast by Applications
10.10.1 Oil & Gas
10.10.2 Water & wastewater
10.10.3 Power generation
10.10.4 Building Automation
10.10.5 Food & Beverage
10.10.6 Metals & Mining
10.10.7 Chemicals & Petrochemicals
10.10.8 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific AC Drives Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific AC Drives Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific AC Drives Market Size Forecast by Type
11.6.1 Low Voltage
11.6.2 Medium Voltage
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific AC Drives Market Size Forecast by Applications
11.10.1 Oil & Gas
11.10.2 Water & wastewater
11.10.3 Power generation
11.10.4 Building Automation
11.10.5 Food & Beverage
11.10.6 Metals & Mining
11.10.7 Chemicals & Petrochemicals
11.10.8 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America AC Drives Analysis and Forecast
12.1 Introduction
12.2 Latin America AC Drives Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America AC Drives Market Size Forecast by Type
12.6.1 Low Voltage
12.6.2 Medium Voltage
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America AC Drives Market Size Forecast by Applications
12.10.1 Oil & Gas
12.10.2 Water & wastewater
12.10.3 Power generation
12.10.4 Building Automation
12.10.5 Food & Beverage
12.10.6 Metals & Mining
12.10.7 Chemicals & Petrochemicals
12.10.8 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) AC Drives Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) AC Drives Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) AC Drives Market Size Forecast by Type
13.6.1 Low Voltage
13.6.2 Medium Voltage
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) AC Drives Market Size Forecast by Applications
13.10.1 Oil & Gas
13.10.2 Water & wastewater
13.10.3 Power generation
13.10.4 Building Automation
13.10.5 Food & Beverage
13.10.6 Metals & Mining
13.10.7 Chemicals & Petrochemicals
13.10.8 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 AC Drives Market: Competitive Dashboard
14.2 Global AC Drives Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Danfoss
14.3.3 Schneider
14.3.4 Siemens
14.3.5 Mitsubishi
14.3.6 Fuji
14.3.7 Emerson
14.3.8 Hitachi
14.3.9 Parker Hannifin
14.3.10 Rockwell
14.3.11 Toshiba
14.3.12 WEG
14.3.13 Yaskawa
