AC Drives Market 2021: COVID-19 Impact Size, Historical Analysis, Emerging Technologies, Global Trends and Industry Set For Rapid Growth with Great CAGR by Forecast 2023

 

Market Highlights

AC drives are used to control the speed of an electric motor that are used in electrical products. The speed of the motor is controlled by changing the frequency of the electricity passing through the motor. The AC drives are commonly used in industries, such as oil & gas, power generation, food & beverage, metals & mining, and others. The major advantages of AC drives include energy saving, reverse operation, and elimination of mechanical components in order to reduce maintenance cost.

On the basis end-use, the market is segmented as oil & gas, power generation, and water & wastewater, among others. Power generation segment is estimated to dominate the market during the forecast period due to rising investment in renewable energy, across the globe. Further, AC drives are widely used in manufacturing industries to regulate and control equipment, such as fans, conveyors, machine spindles, and pumps to improve the efficiency of equipment and reduce energy consumption by 35-40%. These factors will help increase the growth of AC drives market within the power generation sector.

The global AC drives market is expected to grow at ~ 7.05% CAGR during the forecast period.

Request sample report @

https://www.marketresearchfuture.com/sample_request/7586


Market Research Analysis

Asia-Pacific accounts for the largest market share and the fastest growing region as well.

Region wise, Asia-Pacific held the largest share of the global AC drives market in 2017. It is estimated that Asia-Pacific would be the fastest growing market during the forecast period, mainly due to the industrialization and urbanization. Moreover, the increased demand for energy efficient equipment and supportive government plans are expected to drive the market for AC drives in Asia-Pacific.

 

Scope of the Report

This report provides an in-depth analysis of the global AC drives market, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East, Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the AC drives market by its voltage, power rating, application, end-user, and by region.

By Voltage

  • Low
  • Medium

By Power Rating (kW)

  • Low power
  • Medium power
  • High Power

By Application

  • Pumps
  • Fans
  • Extruders
  • Conveyors
  • Compressors

By End-Use

  • Oil & Gas
  • Power Generation
  • F&B
  • Metals & Mining
  • Water & Wastewater
  • Chemicals & Pharmaceuticals
  • Others

Key Players

The key players of global AC drives market are ABB (Switzerland), Siemens (Germany), Danfoss Group (Denmark), Schneider Electric (France), Rockwell Automation, Inc. (US), 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 (US), Delta Electronics, Inc. (Taiwan), and others.

Browse Complete Report Details @ 

https://www.marketresearchfuture.com/reports/ac-drives-market-7586

About Market Research Future:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

Contact Us:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

Comments

Post a Comment

Popular posts from this blog

Waste heat recovery system Market: 2021 Growth Prediction, Industry Trends, Key Players, Analysis and Forecast to 2027

  Overview The global waste heat recovery system market is projected to grow at a CAGR of 5.7% during the forecast period. As per the waste heat recovery system market research report, the global market for waste heat recovery system is projected to grow swiftly. According to analysts, increasing electricity consumption as well as growing global population will drive the market growth during the forecast period. The waste heat recovery system market research report offers a comprehensive analysis of the global waste heat recovery system market and its end-use, region, and application segments. The application constraints along with low economic value are the elements that could influence the waste heat recovery system market advancement throughout the forecast period. The waste heat recovery system market research report by expert analysts is developed to assist organizations in the waste heat recovery system market. Market Segmentation The global waste heat recovery system market...
Read more

Natural Gas Genset Market: 2021 Share, Growth and Forecast to 2027

  Gas Genset Market Gas genset are machines capable of providing power to regions facing frequent power outages. The lack of stored power and problems in transmission grids coupled with environment friendly approaches to energy are likely to drive its demand among residential, commercial, and industrial applications. The  global gas genset market  report by Market Research Future (MRFR) provides a comprehensive overview of the industry combined with the impact of the COVID-19 pandemic over the forecast period (2018-2023). Market Scope The global gas genset market is expected to grow at ~5.00 % CAGR during the forecast period.   Regional Analysis North America is expected to be the fastest-growing market, by region, during the forecast period. This is due to the rising production of natural gas and shale gas in the region. US is expected to dominate the gas genset market in North America owing to declining prices of natural gas and due to carbon emissio...
Read more

Motor Control Centers Market 2021: Business Strategies, Future Growth

  The   motor control centers market   witnesses increasing traction across the globe. The market growth attributes to the rising need for reliable electric supply and maximum safety in transmission & distribution networks. Besides, increasing investments into the replacement of matured electric grid structures with modern upgraded ones drive the growth of the market.   Moreover, subsequent investments in transmission & distribution networks, grid expansion, and developing safe electrical infrastructure escalate the market demand. According to Market Research Future (MRFR), the global motor control centers market is poised to grow at around 5.95% CAGR during the review period   (2018-2023). Industrial usages of control centers currently hold a large market share in terms of volume.  The spurring rise in the industrial sector across the globe and rising small and medium voltage motor control centers in industries for safe operations bo...
Read more