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The growing demand from the end use industries of the DC drives is expected to drive the market demand. The oil and gas segment is expected to be one of the leading segments for end use because of the huge global demand for energy. The food and beverage segment is also expected to have rapid growth because of demand from the developed economies. The water and wastewater will also witness significant growth in the coming years. This is because of the increasing urbanisation in emerging economies like China and India.
The low power drives upto 250kW are expected to dominate the voltage segment of DC drives. This is because of the growing implementation in small and moderate sized industries. They have diverse applications including exhaust fans, conveyor belt, milling and boring machines, and other small machine tools. The medium power drives (251 kW-500 kW) will also have substantial growth owing to the increasing demand from applications in medium as well as large scale industries. The DC drive market has high competition with the presence of few big players and large number of small companies.
The higher efficiency of DC drives and decrease in energy consumption is boosting the market for DC drives. ABB Ltd. (NYSE: ABB) is a major player in the DC drives industry. On 27 July 2020, ABB Ltd. announced that its synchronous motor and variable speed drive package had shown decrease in energy consumption with lower running noise, operational temperature, better operation and lower vibration. The project was undertaken in Australia over a one-year duration. The energy savings will translate to a significant reduction in the operation cost and lower emissions to the environment. The better energy and cost efficiency will propel the DC drives market to further heights.
Market Analysis by Voltage, Power Rating, End Use and Regions:
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The major players in the global DC drives market are ABB Ltd., Siemens AG, Rockwell Automation Inc, Nidec Motor Corporation, Parker Hannifin Corp and General Electric among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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