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India AC Drives Market

India AC Drives Market Share, Growth, Size, Report, Forecast: By Product Type: Low Voltage Drives, Medium Voltage Drives, Soft Starter; By Power Rating: Low Power Drives, Medium Power Drives, High Power Drives; By Application; By End Use; Market Dynamics; Competitive Landscape; Industry Events and Developments; 2024-2032

India AC Drives Market Outlook

The India AC drives market is expected to grow at a CAGR of 8.93% in the forecast period of 2024-2032.

 

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.

 

India AC Drives Market

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By product type, the market is bifurcated into:

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

  • Low Power Drives 
  • Medium Power Drives
  • High Power Drives

Based on applications, the market can be segmented into:

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

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

  • Transportation and Infrastructure
  • Oil and Gas
  • Power
  • Chemical
  • Metal Processing
  • Solar System
  • 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.

 

India AC Drives Market

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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 India Ltd
  • Siemens Limited
  • Danfoss A/S
  • Hitachi Hi-Rel Power Electronics Private Limited
  • Yaskawa India Private Limited
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Kirloskar Electric Company Ltd.
  • Amtech Electronics India Limited
  • Delta Electronics, Inc.
  • CG Power & Industrial Solutions Ltd.
  • Fuji Electric India Pvt Ltd
  • Shenzhen INVT Electric Co Ltd
  • Inovance Technology Pvt, Ltd
  • Mitsubishi Electric India Pvt. Ltd.
  • 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 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 Type
  • Power Rating
  • Application
  • End Use
  • Region
Breakup by Product Type
  • Low Voltage Drives
  • Medium Voltage Drives
  • Soft Starter
Breakup by Power Rating
  • Low Power Drives
  • Medium Power Drives
  • High Power Drives
Breakup by Application
  • Compressor
  • Conveyors
  • Fans
  • Extruders
  • Pumps
  • Others
Breakup by End Use
  • Transportation and Infrastructure
  • Metal Processing
  • Chemical
  • Solar System
  • Power
  • Oil and Gas
  • Others
Breakup by Region
  • North India
  • East India
  • South India
  • West India
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • ABB India Ltd
  • Siemens Limited
  • Danfoss A/S
  • Hitachi Hi-Rel Power Electronics Private Limited
  • Yaskawa India Private Limited
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Kirloskar Electric Company Ltd.
  • Amtech Electronics India Limited
  • Delta Electronics, Inc.
  • CG Power & Industrial Solutions Ltd.
  • Fuji Electric India Pvt Ltd
  • Shenzhen INVT Electric Co Ltd
  • Inovance Technology Pvt, Ltd
  • Mitsubishi Electric India Pvt. Ltd.
  • 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    Market Snapshot
7    Opportunities and Challenges in the Market
8    India AC Drives Market Analysis

    8.1    India AC Drives Historical Market (2018-2023) 
    8.2    India AC Drives Market Forecast (2024-2032)
    8.3    India AC Drives Market by Product Type
        8.3.1    Low Voltage Drives
            8.3.1.1    Historical Trend (2018-2023)
            8.3.1.2    Forecast Trend (2024-2032)
        8.3.2    Medium Voltage Drives
            8.3.2.1    Historical Trend (2018-2023)
            8.3.2.2    Forecast Trend (2024-2032)
        8.3.3    Soft Starter
            8.3.3.1    Historical Trend (2018-2023)
            8.3.3.2    Forecast Trend (2024-2032)
    8.4    India AC Drives Market by Power Rating
        8.4.1    Low Power Drives 
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Medium Power Drives 
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    High Power Drives 
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    India AC Drives Market by Application
        8.5.1    Compressor
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Conveyors
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Fans
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Extruders
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Pumps
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
        8.5.6    Others
    8.6    India AC Drives Market by End Use
        8.6.1    Transportation and Infrastructure
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Metal Processing 
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Chemical
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Solar System
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Power
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
        8.6.6    Oil and Gas
            8.6.6.1    Historical Trend (2018-2023)
            8.6.6.2    Forecast Trend (2024-2032)
        8.6.7    Others
    8.7    India AC Drives Market by Region
        8.7.1    North India
        8.7.2    East India
        8.7.3    South India
        8.7.4    West India
9    Regional Analaysis
    9.1    North India
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    East India
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
    9.3    South India
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
    9.4    West India
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
10    India LV Drive System Market Analysis
    10.1    India LV Drive System Historical Market (2018-2023)
    10.2    India LV Drive System Market Forecast (2024-2032)
    10.3    India LV Drive System Market by Type 
    10.4    India LV Drive System Market by Application
    10.5    India LV Drive System Market by Rating
11    Market Dynamics
    11.1    SWOT Analysis
        11.1.1    Strengths
        11.1.2    Weaknesses
        11.1.3    Opportunities
        11.1.4    Threats
    11.2    Porter’s Five Forces Analysis
        11.2.1    Supplier’s Power
        11.2.2    Buyer’s Power
        11.2.3    Threat of New Entrants
        11.2.4    Degree of Rivalry
        11.2.5    Threat of Substitutes
    11.3    Key Indicators for Demand
    11.4    Key Indicators for Price
12    Competitive Landscape
    12.1    Market Structure
    12.2    India Low Voltage AC Drive Market Share by Top 5 Players
    12.3    India Medium Voltage AC Drive and Others Market Share by Top 5 Players
    12.4    Company Profiles
        12.4.1    ABB India Ltd
            12.4.1.1    Company Overview
            12.4.1.2    Product Portfolio
            12.4.1.3    Demographic Reach and Achievements
            12.4.1.4    Certifications
        12.4.2    Siemens Limited
            12.4.2.1    Company Overview
            12.4.2.2    Product Portfolio
            12.4.2.3    Demographic Reach and Achievements
            12.4.2.4    Certifications
        12.4.3    Danfoss A/S
            12.4.3.1    Company Overview
            12.4.3.2    Product Portfolio
            12.4.3.3    Demographic Reach and Achievements
            12.4.3.4    Certifications
        12.4.4    Hitachi Hi-Rel Power Electronics Private Limited
            12.4.4.1    Company Overview
            12.4.4.2    Product Portfolio
            12.4.4.3    Demographic Reach and Achievements
            12.4.4.4    Certifications
        12.4.5    Yaskawa India Private Limited
            12.4.5.1    Company Overview
            12.4.5.2    Product Portfolio
            12.4.5.3    Demographic Reach and Achievements
            12.4.5.4    Certifications
        12.4.6    Rockwell Automation Inc.
            12.4.6.1    Company Overview
            12.4.6.2    Product Portfolio
            12.4.6.3    Demographic Reach and Achievements
            12.4.6.4    Certifications
        12.4.7    Schneider Electric SE
            12.4.7.1    Company Overview
            12.4.7.2    Product Portfolio
            12.4.7.3    Demographic Reach and Achievements
            12.4.7.4    Certifications
        12.4.8    Kirloskar Electric Company Ltd.
            12.4.8.1    Company Overview
            12.4.8.2    Product Portfolio
            12.4.8.3    Demographic Reach and Achievements
            12.4.8.4    Certifications
        12.4.9    Amtech Electronics India Limited
            12.4.9.1    Company Overview
            12.4.9.2    Product Portfolio
            12.4.9.3    Demographic Reach and Achievements
            12.4.9.4    Certifications
        12.4.10   Delta Electronics, Inc.
            12.4.10.1    Company Overview
            12.4.10.2    Product Portfolio
            12.4.10.3    Demographic Reach and Achievements
            12.4.10.4    Certifications
        12.4.11    CG Power & Industrial Solutions Ltd.
            12.4.11.1    Company Overview
            12.4.11.2    Product Portfolio
            12.4.11.3    Demographic Reach and Achievements
            12.4.11.4    Certifications
        12.4.12    Fuji Electric India Pvt Ltd
            12.4.12.1    Company Overview
            12.4.12.2    Product Portfolio
            12.4.12.3    Demographic Reach and Achievements
            12.4.12.4    Certifications
        12.4.13    Shenzhen INVT Electric Co Ltd
            12.4.13.1    Company Overview
            12.4.13.2    Product Portfolio
            12.4.13.3    Demographic Reach and Achievements
            12.4.13.4    Certifications
        12.4.14    Inovance Technology Pvt, Ltd
            12.4.14.1    Company Overview
            12.4.14.2    Product Portfolio
            12.4.14.3    Demographic Reach and Achievements
            12.4.14.4    Certifications
        12.4.15    Mitsubishi Electric India Pvt. Ltd.
            12.4.15.1    Company Overview
            12.4.15.2    Product Portfolio
            12.4.15.3    Demographic Reach and Achievements
            12.4.15.4    Certifications
        12.4.16    Others
13    Key Trends and Developments in the Market

List of Key Figures and Tables

1.    India AC Drives Market: Key Industry Highlights, 2018 and 2032
2.    India AC Drives Historical Market: Breakup by Product Type (USD Million), 2018-2023
3.    India AC Drives Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4.    India AC Drives Historical Market: Breakup by Power Rating (USD Million), 2018-2023
5.    India AC Drives Market Forecast: Breakup by Power Rating (USD Million), 2024-2032
6.    India AC Drives Historical Market: Breakup by Application (USD Million), 2018-2023
7.    India AC Drives Market Forecast: Breakup by Application (USD Million), 2024-2032
8.    India AC Drives Historical Market: Breakup by End Use (USD Million), 2018-2023
9.    India AC Drives Market Forecast: Breakup by End Use (USD Million), 2024-2032
10.    India AC Drives Historical Market: Breakup by Region (USD Million), 2018-2023
11.    India AC Drives Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    India LV Drives System Historical Market (USD Million), 2018-2023
13.    India LV Drives System Market Forecast (USD Million), 2024-2032
14.    India LV Drives System Market by Rating (USD Million), 2018-2028
15.    India LV Drives System Market by Application (USD Million), 2018-2028
16.    India LV Drives System Market by Type (USD Million), 2018-2028
17.    India AC Drives Market Structure

Key Questions Answered in the Report

The market is projected to grow at a CAGR of 8.93% between 2024 and 2032.

The major drivers of the market, such as need for energy efficiency in industries, increasing manufacturing activities and rising automation sector are expected to aid the market growth.

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

The significant product types include low voltage drives, medium voltage drives and soft starter.

The significant power rating segments include low power drives, medium power drives, and high power drives.

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

The significant end uses include transportation and infrastructure, metal processing, chemical, solar system, power, oil and gas, among others. 

The major players in the market are ABB India Ltd, Siemens Limited, Danfoss A/S, Hitachi Hi-Rel Power Electronics Private Limited, Yaskawa India Private Limited, Rockwell Automation Inc., Schneider Electric SE, Kirloskar Electric Company Ltd., Amtech Electronics India Limited, Delta Electronics, Inc., CG Power & Industrial Solutions Ltd., Fuji Electric India Pvt Ltd, Shenzhen INVT Electric Co Ltd, Inovance Technology Pvt, Ltd, Mitsubishi Electric India Pvt. Ltd., among 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 2024-2032, growing at a CAGR of 8.93%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By product type, the market can be distributed into low voltage drives, medium voltage drives and soft starter. On the basis of power rating, the market can be segmented into low power drives, medium power drives , and high power drives. Based on application, the market can be categorised into compressor, conveyors, fans, extruders, pumps, and others. On the basis of end use, the market can be segregated into transportation and infrastructure, metal processing, chemical, solar system, power, oil and gas, among others. The key players in the above market include ABB India Ltd, Siemens Limited, Danfoss A/S, Hitachi Hi-Rel Power Electronics Private Limited, Yaskawa India Private Limited, Rockwell Automation Inc., Schneider Electric SE, Kirloskar Electric Company Ltd., Amtech Electronics India Limited, Delta Electronics, Inc., CG Power & Industrial Solutions Ltd., Fuji Electric India Pvt Ltd, Shenzhen INVT Electric Co Ltd, Inovance Technology Pvt, Ltd, Mitsubishi Electric India Pvt. 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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