PUBLISHER: IMARC | PRODUCT CODE: 1423272
PUBLISHER: IMARC | PRODUCT CODE: 1423272
AC Drives Market Report by Power Rating (Low Power Drives, Medium Power Drives, High Power Drives ), Voltage, Application, End-Use, and Region 2024-2032
Abstract
The global AC drives market size reached US$ 25.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 41.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032.
AC drives are used for regulating the velocity of electric motors and function by fluctuating the frequency, magnetic flux and voltage in the motor's circuit. They are used to achieve effective control over the motor's speed and reduce energy consumption. Owing to this, they are employed across the oil and gas, power generation, building automation, food and beverage, and metals and mining sectors.
Market Drivers:
The low energy consumption of AC drives is one of the prime factors that is driving the growth in the market. They adopt energy-saving techniques which avoid strain on natural resources and offer a greater return on investment and efficiency. The use of these devices also reduces disturbances in the power supply and lowers carbon dioxide emissions.
Rapid industrialization and urbanization have increased the demand for automated and motor-driven equipment, in turn, escalating the sales of AC drives worldwide. Additionally, improving standards of living have catalyzed the development of modern infrastructure which has further contributed to the growth of the market.
The low production cost of AC drives coupled with an increase in electricity prices has bolstered their sales. Since these drives consume a minimal amount of electricity, require less maintenance and are easy to use, they are being preferred by manufacturers across the globe for use in motor-driven equipment.
The increasing popularity of industrial Internet of Things (IoT), along with the usage of cloud computing, mobile communications and web technologies for controlling and maintaining these drives, is also expected to create a positive impact on the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global AC drives market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on power rating, voltage, application and end-use.
Breakup by Power Rating:
Low Power Drives (<40 kW)
Medium Power Drives (41 kW - 200 kW)
High Power Drives (>200 kW)
Breakup by Voltage:
Low Voltage
Medium Voltage
Breakup by Application:
Pumps
Fans
Compressor
Conveyors
Extruders
Others
Breakup by End-Use:
Food and Beverage
Water and Wastewater
HVAC
Oil and Gas
Power
Metal Processing
Chemicals
Others
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being ABB Ltd, Danfoss Group, Schneider Electric Se, Siemens AG. Mitsubishi Electrical Corporation, Fuji Electric Co. Ltd., Emerson Electric Co., Hitachi Ltd, Parker Hannifin Corporation, Rockwell Automation,Inc., Toshiba International Corporation, WEG SA, Yaskawa Electric Corporation, etc.
IMARC Group's latest report provides a deep insight into the global AC drives market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global Ac drives market in any manner
Key Questions Answered in This Report
- 1. What was the size of the global AC drives market in 2023?
- 2. What is the expected growth rate of the global AC drives market during 2024-2032?
- 3. What are the key factors driving the global AC drives market?
- 4. What has been the impact of COVID-19 on the global AC drives market?
- 5. What is the breakup of the global AC drives market based on the power rating?
- 6. What is the breakup of the global AC drives market based on the voltage?
- 7. What is the breakup of the global AC drives market based on the application?
- 8. What is the breakup of the global AC drives market based on the end-use?
- 9. What are the key regions in the global AC drives market?
- 10. Who are the key players/companies in the global AC drives market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global AC Drives Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Power Rating
- 5.5 Market Breakup by Voltage
- 5.6 Market Breakup by Application
- 5.7 Market Breakup by End-Use
- 5.8 Market Breakup by Region
- 5.9 Market Forecast
6 Market Breakup by Power Rating
- 6.1 Low Power Drives (<40 kW)
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Medium Power Drives (41 kW - 200 kW)
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 High Power Drives (>200 kW)
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Voltage
- 7.1 Low Voltage
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Medium Voltage
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Application
- 8.1 Pumps
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Fans
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Compressor
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Conveyors
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Extruders
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
9 Market Breakup by End-Use
- 9.1 Food and Beverage
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Water and Wastewater
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 HVAC
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Oil and Gas
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Power
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 9.6 Metal Processing
- 9.6.1 Market Trends
- 9.6.2 Market Forecast
- 9.7 Chemicals
- 9.7.1 Market Trends
- 9.7.2 Market Forecast
- 9.8 Others
- 9.8.1 Market Trends
- 9.8.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Europe
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Asia Pacific
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4 Middle East and Africa
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
- 10.5 Latin America
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
11 Global AC Drives Industry: SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 ABB Ltd
- 15.3.2 Danfoss Group
- 15.3.3 Schneider Electric Se
- 15.3.4 Siemens AG
- 15.3.5 Mitsubishi Electrical Corporation
- 15.3.6 Fuji Electric Co. Ltd.
- 15.3.7 Emerson Electric Co.
- 15.3.8 Hitachi Ltd
- 15.3.9 Parker Hannifin Corporation
- 15.3.10 Rockwell Automation,Inc.
- 15.3.11 Toshiba International Corporation
- 15.3.12 WEG SA
- 15.3.13 Yaskawa Electric Corporation
List of Figures
- Figure 1: Global: AC Drives Market: Major Drivers and Challenges
- Figure 2: Global: AC Drives Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: AC Drives Market: Breakup by Power Rating (in %), 2023
- Figure 4: Global: AC Drives Market: Breakup by Voltage (in %), 2023
- Figure 5: Global: AC Drives Market: Breakup by Application (in %), 2023
- Figure 6: Global: AC Drives Market: Breakup by End-Use (in %), 2023
- Figure 7: Global: AC Drives Market: Breakup by Region (in %), 2023
- Figure 8: Global: AC Drives Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 9: Global: AC Drives Industry: SWOT Analysis
- Figure 10: Global: AC Drives Industry: Value Chain Analysis
- Figure 11: Global: AC Drives Industry: Porter's Five Forces Analysis
- Figure 12: Global: AC Drives (Low Power Drives) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: AC Drives (Low Power Drives) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: AC Drives (Medium Power Drives) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: AC Drives (Medium Power Drives) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: AC Drives (High Power Drives) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: AC Drives (High Power Drives) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: AC Drives (Low Voltage) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: AC Drives (Low Voltage) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: AC Drives (Medium Voltage) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: AC Drives (Medium Voltage) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: AC Drives (Pumps) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: AC Drives (Pumps) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: Global: AC Drives (Fans) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: Global: AC Drives (Fans) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: Global: AC Drives (Compressor) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: Global: AC Drives (Compressor) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: Global: AC Drives (Conveyors) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: Global: AC Drives (Conveyors) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: Global: AC Drives (Extruders) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Global: AC Drives (Extruders) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: Global: AC Drives (Others) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: Global: AC Drives (Others) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: Global: AC Drives (Food and Beverage) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: Global: AC Drives (Food and Beverage) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: Global: AC Drives (Water and Wastewater) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: Global: AC Drives (Water and Wastewater) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: Global: AC Drives (HVAC) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: Global: AC Drives (HVAC) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: Global: AC Drives (Oil and Gas) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: Global: AC Drives (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: Global: AC Drives (Power) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: Global: AC Drives (Power) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: Global: AC Drives (Metal Processing) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 45: Global: AC Drives (Metal Processing) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 46: Global: AC Drives (Chemicals) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 47: Global: AC Drives (Chemicals) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 48: Global: AC Drives (Others) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 49: Global: AC Drives (Others) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 50: North America: AC Drives Market: Sales Value (In Million US$), 2018 & 2023
- Figure 51: North America: AC Drives Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 52: Europe: AC Drives Market: Sales Value (in Million US$), 2018 & 2023
- Figure 53: Europe: AC Drives Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 54: Asia Pacific: AC Drives Market: Sales Value (in Million US$), 2018 & 2023
- Figure 55: Asia Pacific: AC Drives Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 56: Middle East and Africa: AC Drives Market: Sales Value (in Million US$), 2018 & 2023
- Figure 57: Middle East and Africa: AC Drives Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 58: Latin America: AC Drives Market: Sales Value (in Million US$), 2018 & 2023
- Figure 59: Latin America: AC Drives Market Forecast: Sales Value (in Million US$), 2024-2032
List of Tables
- Table 1: Global: AC Drives Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: AC Drives Market Forecast: Breakup by Power Rating (in Million US$), 2024-2032
- Table 3: Global: AC Drives Market Forecast: Breakup by Voltage (in Million US$), 2024-2032
- Table 4: Global: AC Drives Market Forecast: Breakup by Application (in Million US$), 2024-2032
- Table 5: Global: AC Drives Market Forecast: Breakup by End-Use (in Million US$), 2024-2032
- Table 6: Global: AC Drives Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 7: Global: AC Drives Market Structure
- Table 8: Global: AC Drives Market: Key Players
