AC
Drives Market Overview
According to the report published by
Market Research Future (MRFR), the global AC
Drives Market
is likely to develop at a CAGR of 7.05% over the review period. The regulations
in energy efficiency plays a significant role in accelerating the demand for AC
drive in the global market. AC drive is
an equipment that is applied to monitor the speed of an electric motor. The
electric motor’s speed is governed by altering the frequency of the electricity
transmitted through the motor with the assistance of these drives. The drives
are mostly used in sectors such as power generation, oil & gas, metals
& mining, food & beverage, chemicals & pharmaceuticals, and water
& wastewater. Within these verticals, AC drives are arranged in
applications such as conveyors, compressors, and pumps. The key benefits of AC
drives include reverse operation, the elimination of mechanical elements to decrease
maintenance cost, and energy saving.
AC
Drives Industry Segmentation
Global AC drive market is
segmented based on power rating (kW), voltage, end-use, region, and application.
Based on power rating,
the market is segmented into medium power drives, high-power drives, and low
power drives.
Based on voltage, the
market is segmented into medium and low voltage. Low voltage segment is representing
the leading share in the AC drives market as these drives are more often
applied with transformers and electric motors.
According to end-use,
the AC drives market is segmented into power generation, oil & gas, building
automation, water & wastewater, metals & mining, chemicals &
petrochemicals, and food & beverage. Power generation segment is likely to lead
the market over the forecast period owing to increasing investment in renewable
energy, across the world.
Based on applications,
the market is segmented into fans, pumps, conveyors, extruders, and
compressors.
Regional Analysis
According to geography, the
Asia-Pacific market held the major share of the global AC drives in 2017.
Asia-Pacific is expected to be the fastest growing market over the assessment
period, mainly on account of the urbanization and industrialization. Furthermore,
the surged demand for supportive government plans and energy efficient
equipment are likely to spur the demand for AC drives in Asia-Pacific market.
Key Players
Global AC drive market
is likely to be dominated by prominent players such as Siemens (Germany), ABB
(Switzerland), Schneider Electric (France), Danfoss Group (Denmark), Mitsubishi
Electric Corporation (Japan), Delta Electronics, Inc. (Taiwan), Rockwell
Automation, Inc. (US), WEG (Brazil), Yaskawa Electric Corporation (Japan), Hiconics
Drive Technology Co. Ltd (China), Toshiba International Corporation (Japan), Parker
Hannifin Co (US), Hitachi Ltd (Japan), and others.
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