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Global AC Drives Market: By Voltage: Low Voltage, Medium Voltage; By Power Rating: Low Power Drives (<40 kW), Medium Power Drives (41 kW - 200 kW), High Power Drives (>200 kW); By Application; By End Use; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global AC Drives Market Outlook

The global AC drives market is being aided by the growing demand for low voltage AC drives, which reached a value of about USD 12 billion in 2020. The demand for low voltage AC drives is further expected to grow at a CAGR of about 5.3% in the forecast period of 2021-2026 to reach a value of around USD 16 billion by 2026.

 

Global AC Drives Market

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The Low Voltage Segment to Bolster the AC Drives Industry Growth

Based on voltage, the low voltage segment leads the global market for AC drives and is anticipated to overrule the market in the forecast period as well. This can be attributed to the inexpensive nature of low voltage AC drives and its ability to operate in low and high-power applications. Meanwhile, the medium voltage segment is anticipated to grow significantly in the forecast period owing to the increasing demand from various industries such as petrochemicals, metals, and HVAC, among others.

 

The Asia Pacific to Significantly Boost the Industry Growth

The Asia Pacific region accounts for a major share in the industry owing to the escalating product demand in different industries for a wide range of applications and the rapid urbanisation across the region. The countries like China, India, and Japan are predicted to have a steady growth in the market due to the growing industrialisation and favourable government policies. Meanwhile, North America is anticipated to witness a considerable growth in the forecast period owing to the growing technological advancements and the increasing product utilisation in oil and gas and mining industries.

 

AC Drives: Industry Definition and Segmentation

AC drives are electronic devices that are used for regulating the velocity of electric motors. They aid in optimising energy levels effectively, thus reducing the consumption of energy. The advancements in AC drives technology and their enhanced applications are driving their demand in various industries.

 

Global AC Drives Market By Application

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By voltage, the market is bifurcated into:

  • Low Voltage
  • Medium Voltage

Based on power rating, the industry is segmented into:

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

Based on application, it can be divided into:

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

Based on end use, it is categorised as:

  • Water and Wastewater
  • Oil and Gas
  • Power
  • Chemical
  • Metal Processing
  • Automation
  • HVAC
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global AC Drives Market By Region

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Increasing Focus on Energy Optimisation to Aid the Growth of the AC Drives Industry

The rising demand for energy efficient solution is driving the growth of the AC drives industry. The low energy consumption of AC drives and its low production cost are resulting in its increased adoption in various industries. The growth can also be attributed to the rapid technological developments and favourable government initiatives. Moreover, factors like less maintenance, increasing demand for motor applications, and ease of use are also boosting the industry's growth across the globe. Furthermore, increased infrastructure investments and the rapid urbanisation and industrialisation are also helping to escalate AC drives sales worldwide.

Over the forecast period, increasing adoption of Industrial Internet of Things (IIoT) is slated to provide new growth opportunities, which will further aid the market growth.

 

Key Industry Players in the Global AC Drives Market

The report gives a detailed analysis of the following key players in the global AC drives market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • ABB Ltd
  • Siemens AG
  • Rockwell Automation, Inc.
  • Hitachi, Ltd.
  • Fuji Electric Co. Ltd
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global AC Drives Market Analysis

    8.1    Key Industry Highlights
    8.2    Global AC Drives Historical Market (2016-2020) 
    8.3    Global AC Drives Market Forecast (2021-2026)
    8.4    Global AC Drives Market by Voltage
        8.4.1    Low Voltage
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Medium Voltage
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
    8.5    Global AC Drives Market by Power Rating 
        8.5.1    Low Power Drives (<40 kW) 
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Medium Power Drives (41 kW - 200 kW)
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    High Power Drives (>200 kW)
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
    8.6    Global AC Drives Market by Application
        8.6.1    Compressor
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Conveyors
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Fans
            8.6.3.1     Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Extruders
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2016-2020)
            8.6.4.3    Forecast Trend (2021-2026)
        8.6.5    Pumps
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2016-2020)
            8.6.5.3    Forecast Trend (2021-2026)
        8.6.6    Others
    8.7    Global AC Drives Market by End Use
        8.7.1    Water and Wastewater
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Oil and Gas
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Power
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    Chemical
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2016-2020)
            8.7.4.3    Forecast Trend (2021-2026)
        8.7.5    Metal Processing
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2016-2020)
            8.7.5.3    Forecast Trend (2021-2026)
        8.7.6    Automation
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2016-2020)
            8.7.6.3    Forecast Trend (2021-2026)
        8.7.7    HVAC
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2016-2020)
            8.7.7.3    Forecast Trend (2021-2026)
        8.7.8    Others
    8.8    Global AC Drives Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    ABB Ltd
            11.2.1.1    Company Overview
            11.2.1.2     Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Siemens AG
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Rockwell Automation, Inc.
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Hitachi, Ltd.
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Fuji Electric Co. Ltd
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments


List of Figures and Tables

1.    Global AC Drives Market: Key Industry Highlights, 2016 and 2026
2.    Global AC Drives Historical Market: Breakup by Voltage (USD Billion), 2016-2020
3.    Global AC Drives Market Forecast: Breakup by Voltage (USD Billion), 2021-2026
4.    Global AC Drives Historical Market: Breakup by Power Rating (USD Billion), 2016-2020
5.    Global AC Drives Market Forecast: Breakup by Power Rating (USD Billion), 2021-2026
6.    Global AC Drives Historical Market: Breakup by Application (USD Billion), 2016-2020
7.    Global AC Drives Market Forecast: Breakup by Application (USD Billion), 2021-2026
8.    Global AC Drives Historical Market: Breakup by End Use (USD Billion), 2016-2020
9.    Global AC Drives Market Forecast: Breakup by End Use (USD Billion), 2021-2026
10.    Global AC Drives Historical Market: Breakup by Region (USD Billion), 2016-2020
11.    Global AC Drives Market Forecast: Breakup by Region (USD Billion), 2021-2026
12.    North America AC Drives Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    North America AC Drives Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Europe AC Drives Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Europe AC Drives Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Asia Pacific AC Drives Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Asia Pacific AC Drives Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Latin America AC Drives Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Latin America AC Drives Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Middle East and Africa AC Drives Historical Market: Breakup by Country (USD Billion), 2016-2020
21.    Middle East and Africa AC Drives Market Forecast: Breakup by Country (USD Billion), 2021-2026
22.    Global AC Drives Market Structure

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