Gmi Research's blog : AC Drives Market research Report
Global AC
Drives Market
The GMI Research foresees an augmentation in the AC
Drives Market over the forecast period. This is because of the mounting
endorsement of industrial internet of things to increase efficiency, economical
cost, and potential to operate on both low and high power exercises.
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Introduction of the AC Drives Market
Key Players of Market:
·
Mitsubishi Electric Corporation
·
ABB
·
Schneider Electric
·
Danfoss
·
Siemens
·
Fuji Electric Co.
·
Emerson Electric Co.
·
PARKER HANNIFAN CORP
·
Rockwell Automation, Inc.
·
Hitachi, Ltd.
AC Drives Market Dynamics
Rapid industrialization and accelerating urban population
are the prime factors compounding the growth of the global AC drives market.
In accordance with the world investment report published in 2018, the emerging
countries gauged for nearly US$ 671 billion of foreign direct investment
inflow, primarily conferred by Singapore and China. In addition, the
accelerating seepage of energy efficiency for various industrial procedures is
further propelling the market growth. Moreover, the aggravating endorsement of
AC Drivers across enormous industrial applications such as compressors,
conveyors, and pumps, further stimulated the market growth. The low maintenance
cost and increasing incorporation of the internet of things will strengthen the
AC
drives market share.
Besides this, the favourable strategic norms imposed by the
government for power optimization have paved the way for market growth. For
instance, the execution of ISO 50001 in the construction and automation
industry can incorporate building mechanisation systems for power efficiency.
For instance, the latest design of IoT-based intelligent AC drive systems
developed using a space vector algorithm to enhance the effectiveness of a
motor vehicle has supplemented the market growth. However, less FDI in the
Greenfield sector is hampering the global AC drives market's size.
Moreover, local producers across the market offering a diversified list of
products is a major challenge faced by upcoming producers.
Voltage
Segment Drivers
As per the Voltage segment, medium voltage is contemplated
to expand at a faster compound annual growth rate over the forecast period.
Medium voltage has a broad end-user base with its application in various
industries to serve the need of high as well as low voltage. Besides this, it
is increasingly deployed in consumer electronics as it provides various
benefits like lower cost, better power factor & accessibility, portable
size, etc.
Application
Segment Drivers
The compressors segment is predicted to seize a prominent
share in the near future. The aggravating endorsement of compressors for
several applications like industrial cleaning by air blast, functioning of
small engines, plastic production, and other industrial products are driving
the market's robust growth. Moreover, the expansion in the production and
processing industry has stimulated the demand for compressors in the market. It
is also implemented in electronics, semiconductors, and healthcare has
propelled the AC drives market size.
AC Drives Market Segmentation:
Segmentation
by Voltage
·
Low Voltage
·
Medium Voltage
Segmentation
by Power Rating
·
Low Power
·
Medium Power
·
High Power
Segmentation
by End-Use Industry
·
Oil & Gas
·
Water & Wastewater
·
Power Generation
·
Building Automation
·
Food & Beverage
·
Metals & Mining
·
Chemicals & Petrochemicals
·
Others
Segmentation
by Application
·
Pumps
·
Fans
·
Compressors
·
Conveyors
·
Extruders
·
Others
Segmentation
by Region:
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
North America
o
United States of America
o
Canada
·
RoW
o
UAE
o
Brazil
o
South Africa
o
Saudi Arabia
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Research
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supports various to apprehend the influence of market dynamics like growth
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