AC Drive Market Report: Trends, Forecast and Competitive Analysis to 2030

AC Drive Trends and Forecast

The future of the global AC drive market looks promising with opportunities in the oil & gas, water & wastewater, power generation, building automation, food & beverage, metals & mining, and chemicals & petrochemicals markets. The global AC drive market is expected to reach an estimated $29.5 billion by 2030 with a CAGR of 6.8% from 2024 to 2030. The major drivers for this market are rising trend of urbanization and industrialization, growing need for enhanced energy efficiency, and inreasing preference for automated and motor-driven equipments.

A more than 150-page report is developed to help in your business decisions.

AC Drive by Segment

The study includes a forecast for the global AC drive by voltage, application, power rating, end use, and region.

AC Drive Market by Voltage [Shipment Analysis by Value from 2018 to 2030]:

• Low Voltage
• Medium Voltage

AC Drive Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Pumps
• Fans
• Compressor
• Conveyors
• Extruders
• Others

AC Drive Market by Power Rating [Shipment Analysis by Value from 2018 to 2030]:

• Low Power Drives (< 40 kW)
• Medium Power Drives (41 - 200 kW)
• High Power Drives (> 200 kW)

AC Drive Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Oil & Gas
• Water & Wastewater
• Power Generation
• Building Automation
• Food & Beverage
• Metals & Mining
• Chemicals & Petrochemicals
• Others

AC Drive Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of AC Drive Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AC drive companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AC drive companies profiled in this report include-

• ABB
• Siemens
• Danfoss Group
• Schneider Electric
• RockWell Automation
• Mitsubishi Electric
• Yaskawa Electric Corporation

AC Drive Market Insights

Lucintel forecasts that low voltage is expected to witness highest growth over the forecast period.

Within this market, power generation is expected to witness highest growth over the forecast period.

APAC is expected to witness highest growth over the forecast period.

Features of the Global AC Drive Market

Market Size Estimates: AC drive market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: AC drive market size by various segments, such as by voltage, application, power rating, end use, and region in terms of ($B).

Regional Analysis: AC drive market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different voltages, applications, power ratings, end uses, and regions for the AC drive market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AC drive market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the AC drive market size?

Answer: The global AC drive market is expected to reach an estimated $29.5 billion by 2030.

Q.2 What is the growth forecast for AC drive market?

Answer: The global AC drive market is expected to grow with a CAGR of 6.8% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the AC drive market?

Answer: The major drivers for this market are rising trend of urbanization and industrialization, growing need for enhanced energy efficiency, and inreasing preference for automated and motor-driven equipments.

Q4. What are the major segments for AC drive market?

Answer: The future of the AC drive market looks promising with opportunities in the oil & gas, water & wastewater, power generation, building automation, food & beverage, metals & mining, and chemicals & petrochemicals markets.

Q5. Who are the key AC drive market companies?

Answer: Some of the key AC drive companies are as follows:

• Abb
• Siemens
• Danfoss Group
• Schneider Electric
• RockWell Automation
• Mitsubishi Electric
• Yaskawa Electric Corporation

Q6. Which AC drive market segment will be the largest in future?

Answer: Lucintel forecasts that low voltage is expected to witness highest growth over the forecast period.

Q7. In AC drive market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the AC drive market by voltage (low voltage and medium voltage), application (pumps, fans, compressor, conveyors, extruders, and others), power rating (low power drives (< 40 kW), medium power drives (41 - 200 kW), and high power drives (> 200 kW)), end use (oil & gas, water & wastewater, power generation, building automation, food & beverage, metals & mining, chemicals & petrochemicals, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?