Summary

The global AC drives market reached a value of US$ 21.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.2 Billion by 2027, exhibiting a CAGR of 6.54% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor. AC drives are used for regulating the velocity of electric motors and function by fluctuating the frequency, magnetic flux and voltage in the motor’s circuit. They are used to achieve effective control over the motor’s speed and reduce energy consumption. Owing to this, they are employed across the oil and gas, power generation, building automation, food and beverage, and metals and mining sectors. Market Drivers: The low energy consumption of AC drives is one of the prime factors that is driving the growth in the market. They adopt energy-saving techniques which avoid strain on natural resources and offer a greater return on investment and efficiency. The use of these devices also reduces disturbances in the power supply and lowers carbon dioxide emissions. Rapid industrialization and urbanization have increased the demand for automated and motor-driven equipment, in turn, escalating the sales of AC drives worldwide. Additionally, improving standards of living have catalyzed the development of modern infrastructure which has further contributed to the growth of the market. The low production cost of AC drives coupled with an increase in electricity prices has bolstered their sales. Since these drives consume a minimal amount of electricity, require less maintenance and are easy to use, they are being preferred by manufacturers across the globe for use in motor-driven equipment. The increasing popularity of industrial Internet of Things (IoT), along with the usage of cloud computing, mobile communications and web technologies for controlling and maintaining these drives, is also expected to create a positive impact on the growth of the market. Key Market Segmentation: IMARC Group provides an analysis of the key trends in each sub-segment of the global AC drives market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on power rating, voltage, application and end-use. Breakup by Power Rating: Low Power Drives (<40 kW) Medium Power Drives (41 kW - 200 kW) High Power Drives (>200 kW) Breakup by Voltage: Low Voltage Medium Voltage Breakup by Application: Pumps Fans Compressor Conveyors Extruders Others Breakup by End-Use: Food and Beverage Water and Wastewater HVAC Oil and Gas Power Metal Processing Chemicals Others Breakup by Region: North America Europe Asia Pacific Middle East and Africa Latin America Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being ABB Ltd, Danfoss Group, Schneider Electric Se, Siemens AG. Mitsubishi Electrical Corporation, Fuji Electric Co. Ltd., Emerson Electric Co., Hitachi Ltd, Parker Hannifin Corporation, Rockwell Automation,Inc., Toshiba International Corporation, WEG SA, Yaskawa Electric Corporation, etc. IMARC Group’s latest report provides a deep insight into the global AC drives market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global Ac drives market in any manner Key Questions Answered in This Report: How has the global AC drives market performed so far and how will it perform in the coming years? What are the key regional markets in the global AC drives industry? What has been the impact of COVID-19 on the global AC drives industry? What is the breakup of the global AC drives market on the basis of power rating? What is the breakup of the global AC drives market on the basis of voltage? What is the breakup of the global AC drives market on the basis of application? What is the breakup of the global AC drives market on the basis of end-use? What are the various stages in the value chain of the global AC drives market? What are the key driving factors and challenges in the global AC drives market? What is the structure of the global AC drives market and who are the key players? What is the degree of competition in the global AC drives market?

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Table of Contents

1 Preface 2 Scope and Methodology 2.1 Objectives of the Study 2.2 Stakeholders 2.3 Data Sources 2.3.1 Primary Sources 2.3.2 Secondary Sources 2.4 Market Estimation 2.4.1 Bottom-Up Approach 2.4.2 Top-Down Approach 2.5 Forecasting Methodology 3 Executive Summary 4 Introduction 4.1 Overview 4.2 Key Industry Trends 5 Global AC Drives Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Breakup by Power Rating 5.5 Market Breakup by Voltage 5.6 Market Breakup by Application 5.7 Market Breakup by End-Use 5.8 Market Breakup by Region 5.9 Market Forecast 6 Market Breakup by Power Rating 6.1 Low Power Drives (<40 kW) 6.1.1 Market Trends 6.1.2 Market Forecast 6.2 Medium Power Drives (41 kW - 200 kW) 6.2.1 Market Trends 6.2.2 Market Forecast 6.3 High Power Drives (>200 kW) 6.3.1 Market Trends 6.3.2 Market Forecast 7 Market Breakup by Voltage 7.1 Low Voltage 7.1.1 Market Trends 7.1.2 Market Forecast 7.2 Medium Voltage 7.2.1 Market Trends 7.2.2 Market Forecast 8 Market Breakup by Application 8.1 Pumps 8.1.1 Market Trends 8.1.2 Market Forecast 8.2 Fans 8.2.1 Market Trends 8.2.2 Market Forecast 8.3 Compressor 8.3.1 Market Trends 8.3.2 Market Forecast 8.4 Conveyors 8.4.1 Market Trends 8.4.2 Market Forecast 8.5 Extruders 8.5.1 Market Trends 8.5.2 Market Forecast 8.6 Others 8.6.1 Market Trends 8.6.2 Market Forecast 9 Market Breakup by End-Use 9.1 Food and Beverage 9.1.1 Market Trends 9.1.2 Market Forecast 9.2 Water and Wastewater 9.2.1 Market Trends 9.2.2 Market Forecast 9.3 HVAC 9.3.1 Market Trends 9.3.2 Market Forecast 9.4 Oil and Gas 9.4.1 Market Trends 9.4.2 Market Forecast 9.5 Power 9.5.1 Market Trends 9.5.2 Market Forecast 9.6 Metal Processing 9.6.1 Market Trends 9.6.2 Market Forecast 9.7 Chemicals 9.7.1 Market Trends 9.7.2 Market Forecast 9.8 Others 9.8.1 Market Trends 9.8.2 Market Forecast 10 Market Breakup by Region 10.1 North America 10.1.1 Market Trends 10.1.2 Market Forecast 10.2 Europe 10.2.1 Market Trends 10.2.2 Market Forecast 10.3 Asia Pacific 10.3.1 Market Trends 10.3.2 Market Forecast 10.4 Middle East and Africa 10.4.1 Market Trends 10.4.2 Market Forecast 10.5 Latin America 10.5.1 Market Trends 10.5.2 Market Forecast 11 Global AC Drives Industry: SWOT Analysis 11.1 Overview 11.2 Strengths 11.3 Weaknesses 11.4 Opportunities 11.5 Threats 12 Value Chain Analysis 13 Porters Five Forces Analysis 13.1 Overview 13.2 Bargaining Power of Buyers 13.3 Bargaining Power of Suppliers 13.4 Degree of Competition 13.5 Threat of New Entrants 13.6 Threat of Substitutes 14 Price Analysis 15 Competitive Landscape 15.1 Market Structure 15.2 Key Players 15.3 Profiles of Key Players 15.3.1 ABB Ltd 15.3.2 Danfoss Group 15.3.3 Schneider Electric Se 15.3.4 Siemens AG 15.3.5 Mitsubishi Electrical Corporation 15.3.6 Fuji Electric Co. Ltd. 15.3.7 Emerson Electric Co. 15.3.8 Hitachi Ltd 15.3.9 Parker Hannifin Corporation 15.3.10 Rockwell Automation,Inc. 15.3.11 Toshiba International Corporation 15.3.12 WEG SA 15.3.13 Yaskawa Electric Corporation