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India 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; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

India AC Drives Market Outlook

The India AC drives market is expected to grow at a CAGR of 7.60% in the forecast period of 2022-2027.

 

Rising Demand for Low Power AC Drives to Spearhead the Growth of the India AC Drives Industry

Based on power rating, the low power drives (<40 kW) segment is predicted to hold a significant market share in the India AC drives industry. This can be attributed to the increased implementation of low power AC drives owing to the heightened demand for AC motors in automation and other industrial applications.

 

India AC Drives Market

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Meanwhile, based on voltage, the heightened demand for low voltage AC drives is expected to further aid the market growth. The low cost and increased usage of this type in both low and medium-power applications is driving the segment growth. These factors are expected to contribute to the overall market growth in the forecast period.

 

Increasing Demand for Automation to Provide Lucrative Opportunities for the AC Drives Industry Growth in India

On the basis of end use, the automation industry is estimated to hold a substantial share of the India AC drives industry. This can be attributed to the rapid technological improvements and the growing acceptance of technology in the region, which is expected to drive the demand for AC drives in the automation industry. Moreover, the expanding oil and gas and energy sectors in the region, with the heightened demand for heavy machinery, is also expected to positively impact the industry growth in the forecast period.

 

AC Drives: Market Segmentation

AC drives, also known as adjustable speed drives or adjustable frequency drives, are devices that help in controlling the speed of an electrical motor. This aids in enhancing the process control while also reducing the energy requirements of the device. AC drives provide accurate control of the motor in a low maintenance compact size. Furthermore, the drives can also be used to convert energy from natural and renewable resources like sun and wind.

By voltage, the market is bifurcated into:

  • Low Voltage
  • Medium Voltage

On the basis of power rating, the market can be divided into:

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

Based on applications, the industry can be segmented into:

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

On the basis of end use, the market can be distributed into:

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

 

Increased Demand for Energy Conservation Solutions and the Rapid Industrialisation to Drive the India AC Drives Industry Growth

The rising population, growing urbanisation, and increasing demand for housing and other commercial and industrial infrastructure facilities in the country are driving the demand for energy. This has led to a heightened application of AC drives in the energy sector. Moreover, with the increasing disposable income and improved living standards, consumers are actively investing in appliances such as HVAC and quality refrigerators and washing machines, which is estimated to bolster the market growth in the coming years. Furthermore, the rapid technological advancements are also expected to aid the industry growth. Additionally, growing government investments in energy optimisation strategies and energy conservation solutions, fuelled by the escalating eco-consciousness amid the rising pollution levels, are predicted to aid the market growth in India.

 

Key Industry Players in the India AC Drives Market

The report gives a detailed analysis of the following key players in the India 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
  • Kirloskar Electric Company Ltd.
  • Amtech 
  • S.R.I Electronics
  • Others

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

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical
and Forecast Market Analysis by Segment- Voltage, Power Rating, Application, End Use
Breakup by Voltage Low Voltage, Medium Voltage
Breakup by Power Rating Low Power Drives (<40 kW), Medium Power Drives (41 kW - 200 kW), High Power Drives (>200 kW)
Breakup by Application Compressor, Conveyors, Fans, Extruders, Pumps, Others
Breakup by End Use Water and Wastewater, Oil and Gas, Power, Chemical, Metal Processing, Automation, HVAC, Others
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 ABB Ltd., Siemens AG, Kirloskar Electric Company Ltd., Amtech, S.R.I Electronics, 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.

 

*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    Market Snapshot
7    Industry Opportunities and Challenges
8    India AC Drives Market Analysis

    8.1    Key Industry Highlights
    8.2    India AC Drives Historical Market (2017-2021) 
    8.3    India AC Drives Market Forecast (2022-2027)
    8.4    India AC Drives Market by Voltage
        8.4.1    Low Voltage
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Medium Voltage
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    India 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 (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Medium Power Drives (41 kW - 200 kW)
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    High Power Drives (>200 kW)
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
    8.6    India AC Drives Market by Application
        8.6.1    Compressor
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Conveyors
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Fans
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
        8.6.4    Extruders
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2017-2021)
            8.6.4.3    Forecast Trend (2022-2027)
        8.6.5    Pumps
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2017-2021)
            8.6.5.3    Forecast Trend (2022-2027)
        8.6.6    Others
    8.7    India AC Drives Market by End Use
        8.7.1    Water and Wastewater
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021)
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Oil and Gas
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021)
            8.7.2.3    Forecast Trend (2022-2027)
        8.7.3    Power
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2017-2021)
            8.7.3.3    Forecast Trend (2022-2027)
        8.7.4    Chemical
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2017-2021)
            8.7.4.3    Forecast Trend (2022-2027)
        8.7.5    Metal Processing
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2017-2021)
            8.7.5.3    Forecast Trend (2022-2027)
        8.7.6    Automation
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2017-2021)
            8.7.6.3    Forecast Trend (2022-2027)
        8.7.7    HVAC
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2017-2021)
            8.7.7.3    Forecast Trend (2022-2027)
        8.7.8    Others
9    Market Dynamics
    9.1    SWOT Analysis
        9.1.1    Strengths
        9.1.2    Weaknesses
        9.1.3    Opportunities
        9.1.4    Threats
    9.2    Porter’s Five Forces Analysis
        9.2.1    Supplier’s Power
        9.2.2    Buyer’s Power
        9.2.3    Threat of New Entrants
        9.2.4    Degree of Rivalry
        9.2.5    Threat of Substitutes
    9.3    Key Indicators for Demand
    9.4    Key Indicators for Price
10    Competitive Landscape
    10.1    Market Structure
    10.2    Company Profiles
        10.2.1    ABB Ltd.
            10.2.1.1    Company Overview
            10.2.1.2    Product Portfolio
            10.2.1.3    Demographic Reach and Achievements
            10.2.1.4    Certifications
        10.2.2    Siemens AG
            10.2.2.1    Company Overview
            10.2.2.2    Product Portfolio
            10.2.2.3    Demographic Reach and Achievements
            10.2.2.4    Certifications
        10.2.3    Kirloskar Electric Company Ltd.
            10.2.3.1    Company Overview
            10.2.3.2    Product Portfolio
            10.2.3.3    Demographic Reach and Achievements
            10.2.3.4    Certifications
        10.2.4    Amtech
            10.2.4.1    Company Overview
            10.2.4.2    Product Portfolio
            10.2.4.3    Demographic Reach and Achievements
            10.2.4.4    Certifications
        10.2.5    S.R.I Electronics
            10.2.5.1    Company Overview
            10.2.5.2    Product Portfolio
            10.2.5.3    Demographic Reach and Achievements
            10.2.5.4    Certifications
        10.2.6    Others
11    Industry Events and Developments


List of Key Figures and Tables

1.    India AC Drives Market: Key Industry Highlights, 2017 and 2027
2.    India AC Drives Historical Market: Breakup by Voltage (USD Million), 2017-2021
3.    India AC Drives Market Forecast: Breakup by Voltage (USD Million), 2022-2027
4.    India AC Drives Historical Market: Breakup by Power Rating (USD Million), 2017-2021
5.    India AC Drives Market Forecast: Breakup by Power Rating (USD Million), 2022-2027
6.    India AC Drives Historical Market: Breakup by Application (USD Million), 2017-2021
7.    India AC Drives Market Forecast: Breakup by Application (USD Million), 2022-2027
8.    India AC Drives Historical Market: Breakup by End Use (USD Million), 2017-2021
9.    India AC Drives Market Forecast: Breakup by End Use (USD Million), 2022-2027
10.    India AC Drives Market Structure

Key Questions Answered in the Report

The market is projected to grow at a CAGR of 7.60% between 2022 and 2027.

The major drivers of the industry, such as the increased urbanisation and industrialisation, rising infrastructure development activities, increased adoption of motor-based appliances, rapid technological advancements, and the rising investments in the R&D of AC drives by the leading manufacturers, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the increasing demand for energy conservation solutions.

The significant voltage types include low voltage and medium voltage.

The significant power rating segments include low power drives (<40 kW), medium power drives (41 kW - 200 kW), and high power drives (>200 kW).

The major applications include compressor, conveyors, fans, extruders, pumps, and others.

The significant end uses include water and wastewater, oil and gas, power, chemical, metal processing, automation, HVAC, and others.

The major players in the industry are ABB Ltd., Siemens AG, Kirloskar Electric Company Ltd., Amtech, S.R.I Electronics, and others.

Analyst Review

The India AC drives market is being driven by the increased industrialisation and urbanisation and the rising energy demands. Aided by the growing focus on energy conservation solutions, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 7.60%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By voltage, the market can be distributed into low voltage and medium voltage. On the basis of power rating, the industry can be segmented into low power drives (<40 kW), medium power drives (41 kW - 200 kW), and high power drives (>200 kW). Based on application, the market can be categorised into compressor, conveyors, fans, extruders, pumps, and others. On the basis of end use, the industry can be segregated into water and wastewater, oil and gas, power, chemical, metal processing, automation, HVAC, and others. The key players in the above market include ABB Ltd., Siemens AG, Kirloskar Electric Company Ltd., Amtech, S.R.I Electronics, and 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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