Reports
Global Electric Drives Market Analysis, Share, Forecast: By Product: AC Drives, DC Drives; By End Use: Process industry, Discrete industry; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; 2024-2032
Global Electric Drives Market Outlook
The global electric drives market is expected to grow at a CAGR of 4.50% during the forecast period of 2024-2032. The electric drives market is being driven by the increasing focus on automating manufacturing processes.
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Market Segmentation
An electric drive is a type of machine equipment for converting electrical energy into mechanical energy and for providing electrical process control. The mechanism used to control movement is called an electric drive.
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The electric drives market can be broadly categorised based on products and end-uses.
Based on the product, the industry can be divided into:
- AC Drives
- DC Drives
On the basis of end-uses, the industry can be segmented into:
- Process Industry
- Discrete Industry
The EMR report looks into the regional markets of electric drives like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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Market Analysis
The global electric drives market is driven by the implementation of IoT-enabling technologies to link their machinery and motion control systems. In the global industry, vendors are focusing on the rising IoT demand and the manufacture of electrical drives with embedded software capable of operating throughout the IoT networks. The IoT-enabled electrical drives currently available are capable of tracking and exchanging system performance quality reports. Using such electrical drives can promote end-user operations, which is expected to drive the growth of the industry. Besides the increasing emphasis on automation, the advent of IoT in electric drives will also increase the global electric drives market over the forecast period.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global electric drives market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Danfoss A/S
- Rockwell Automation Inc. (NYSE: ROK)
- Schneider Electric SE
- ABB Ltd.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, End-Use, Region |
| Breakup by Product | AC Drives, DC Drives |
| Breakup by End-Use | Process industry, Discrete industry |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Danfoss A/S, Rockwell Automation Inc. (NYSE: ROK), Schneider Electric SE (EPA: SU), ABB Ltd. (SWX: ABBN), Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 Electric Drives Market Analysis
8.1 Key Industry Highlights
8.2 Global Electric Drives Historical Market (2018-2023)
8.3 Global Electric Drives Market Forecast (2024-2032)
8.4 Global Electric Drives Market by Product
8.4.1 AC Drives
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 DC Drives
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.5 Global Electric Drives Market by End-Use
8.5.1 Process Industry
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Discrete Industry
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.6 Global Electric Drives Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.2.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.3.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.4.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.5.2 Forecast Trend (2024-2032)
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 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Danfoss
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Rockwell Automation, Inc.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Schneider Electric
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 ABB
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Electric Drives Market: Key Industry Highlights, 2018 and 2032
2. Global Electric Drives Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Electric Drives Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Electric Drives Historical Market: Breakup by End-Use (USD Billion), 2018-2023
5. Global Electric Drives Market Forecast: Breakup by End-Use (USD Billion), 2024-2032
6. Global Electric Drives Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Electric Drives Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Electric Drives Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Electric Drives Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Electric Drives Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Electric Drives Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Electric Drives Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Electric Drives Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Electric Drives Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Electric Drives Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Electric Drives Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Electric Drives Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Electric Drives Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.50% between 2024 and 2032.
The major drivers of the industry, such as the growing adoption of automation, increasing demand for energy, growing urbanisation, and rapid technological advancements, are expected to aid the market growth.
The key market trend guiding the growth of the market includes the growing demand for IoT-enabled electrical drives and motion control systems.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
AC drives and DC drives are the major products of electric drives in the industry.
The significant end-uses of the product include process industry and discrete industry.
The major players in the industry are Danfoss A/S, Rockwell Automation Inc., Schneider Electric SE, and ABB Ltd., among others.
Analyst Review
The global electric drives market is being driven by the advancement in technology and growing urbanisation trends across the globe. Aided by the growing adoption of IoT-enabled electrical drives, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 4.50%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product, the market can be bifurcated into AC drives and DC drives. On the basis of end use, the industry is divided into process industry and discrete industry. The major regional markets for electric drives are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market Danfoss A/S, Rockwell Automation Inc., Schneider Electric SE, and ABB Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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