Low Voltage AC Drives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

  • Single User License $3500

Low Voltage AC Drives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : June, 2020 | Industrial | PPT format

Report Digest


Global Low Voltage AC Drives Market: Introduction

AC Drives is the electronic device that fluctuates the frequency of the electric motor to regulate the speed, the voltage in a circuit, and the magnetic flux. The low voltage ac drives are used for low voltage operation in varied manufacturing industries, commercial buildings, and among others. The low voltage ac drives provide motion, torque, and speed control for equipment such as compressors, fans, pumps, conveyors, printing machinery, centrifuges, mixers, cranes, and textile machines.

Increasing government initiatives to conserve electricity through energy efficiency norms are further expected to spur the growth of the market in the region. At the end-use industry level, the oil & gas industry expected to have fast growth potential for low voltage ac drives market

Global Low Voltage AC Drives Market: Segmentation

Globally, the low voltage ac drives market can be segmented on the basis of power rating, application type, and end-use industry

Based on the Power Rating, the global low voltage ac drives market can be segmented into,

  • High Power Drives
  • Medium Power Drives
  • Low Power Drives

Based on the Application Type, the global low voltage ac drives market can be segmented into,

  • Pumps
  • Extruders
  • Fans
  • Conveyors
  • Compressor
  • Other application

Based on the End-Use Industry, the global low voltage ac drives market can be segmented into,

  • Oil & Gas
  • Power generation
  • Water & wastewater
  • Metals & Mining
  • Building Automation
  • Chemicals & Petrochemicals
  • Food & Beverage
  • Other industries

Global Low Voltage AC Drives Market: Dynamics

Low voltage ac drives market is gaining high demand due to its low energy consumption, low production cost, and rapid growth in industrialization and urbanization. Also, increasing government regulation for obtaining energy efficiency expected to drive the market of low voltage ac drives. Low voltage ac drives reduce the wear and tear of mechanical components, thus reducing the downtime required for maintenance and repair of low voltage ac drives. The low voltage ac drive has low cost as compared to its high voltage ac drives which gain the high attraction of customers towards the product.

Due to unstable scenario of the oil and gas industry mainly in the past few years and increasing protectionism, low voltage ac drives market growth include a decline in foreign direct investments (FDIs). This is expected to restrain the growth of low voltage ac drives market to some extent.

COVID-19 Impact:

As the coronavirus pandemic infected and spread through countries, it affected the global economy right from production to service industries. The pandemic force government to shut down the commercial and educational sector for a specific time period. This rising unemployment of the people working in the industry, restaurant and other places, lower the industrial output, disturb supply chain. COVID-19 expected to have a negative impact on the global market of low voltage ac drives. However, the impact of COVID-19 estimated to recover the industrial activity by the end of the year.

Global Low Voltage AC Drives Market: Regional Outlook

Asia Pacific region is expected to have a high demand for low voltage ac drives market and anticipated to be the most notable contributor for the market growth. Increasing industrialization and urbanization estimated to fuel the growth of low voltage ac drives market in the Asia Pacific region. At the country level, China, Japan, and India expected to be major contributors to the increasing demand for low voltage ac drives. Europe is expected to follow by the Asia Pacific region in the low voltage ac drives market. North America has a big market player in the low voltage ac drives market as compared to other regions and representing ample opportunity for the growth of the market. Latin America and Middle East & Africa (MEA) region estimated to have comparatively less share in the global low voltage ac drives market.

Global Low Voltage AC Drives Market: Market Participants

The key manufacturer involved low voltage ac drives market are focusing on acquisition and joint venture with other local players. For instance, Danfoss Group, Europe based manufacturer of ac drives, acquired Vacon, a manufacturer of variable-speed AC drives.

Some of the key players involved in the low voltage ac drives market include Rockwell Automation, Inc., Yaskawa Electric Corporation, Schneider Electric SE, Honeywell Automation, Siemens AG, Amtech Electronics India Ltd., Hitachi Hi-Rel Power Electronics Pvt. Ltd., TMEIC, Fuji Electric Co., Ltd., Spartan Controls Ltd., Danfoss Group, ABB LTD., TECO Electric Europe Ltd., US Drives, Inc., Mitsubishi Electrical Co., and among others.

The research report presents a comprehensive assessment of the low voltage ac drives market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to low voltage ac drives market segments such as power rating, application type, and end-use industry.

The report covers exhaustive analysis on:

  • Low Voltage AC Drives Market Segments
  • Low Voltage AC Drives Market Dynamics
  • Low Voltage AC Drives Market Size
  • Low Voltage AC Drives Market Volume Sales
  • Low Voltage AC Drives Market Adoption Rate
  • Low Voltage AC Drives Market Current Trends/Issues/Challenges
  • Low Voltage AC Drives Market Competition & Companies involved
  • Low Voltage AC Drives Market Value Chain

The market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on low voltage ac drives market segments and geographies.

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current, and projected low voltage ac drives market size in terms of value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on low voltage ac drives market performance
  • Must-have information for low voltage ac drives market players to sustain and enhance their market footprint

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.