Global AC Drives Market (2015-2023) – Grow Pricing, Features, Reviews & Comparison of Alternatives
Latest industry research report on AC Drives Market. Alternate Current (AC) drives are electronic devices that control the speed & torque of an electric motor by alternating parameters such as voltage, frequency & magnetic flux. Optimizing energy consumption plays a crucial role managing the overall operating costs of energy intensive sectors. AC drives offer optimization in energy along with significant reduction in operational costs by controlling the speed and torque of electric motors. Minimization of energy usage and the advantage of the advantages of prolonging the life of the electrical equipment make AC drives to have widespread applications in industries such as oil & gas, water & wastewater, and mining.
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The rise in increasing urbanization & growing rate of industrialization are the key factors that drive the growth of the market. Different regulations on obtaining energy efficiency along with rising need for energy optimizations in different industrial processes are the key factors are the factors that boost the market growth. Decrease in the foreign direct investment such as Greenfield investments is a key restraining factor hindering the growth of the market. However, there is a huge growth opportunities of the market in the replacement market. Furthermore, rising applications in Industrial Internet of Things (IIoT) will offer ample growth opportunities in the AC drives market.
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Various local vendors are offering stiff competition to the big market players is a key market challenge to be overcome by key market players to gain stronghold in the market.
The report segments the AC drives market on the basis of voltage, power rating, applications, end-user industry and region.
Market By Voltage
- Low Voltage
- Medium Voltage
Market By Application
- Pumps
- Fans
- Compressors
- Conveyors
- Extruders
- Other Applications
Market By End-Use Industry
- Oil & Gas
- Power Generation
- Water & Wastewater
- Building Automation
- Food & Beverage
- Metals & Mining
- Chemicals & Petrochemicals
- Other Industries
Market By Power Rating (kW)
- Low Power Drives
- Medium Power Drives
- High Power Drives
Market By Region
Asia-Pacific
- By Voltage
- By Application
- By Power Rating (Kw)
- By End-Use Industry
- By Country
Europe
- By Voltage
- By Application
- By Power Rating (Kw)
- By End-Use Industry
- By Country
North America
- By Voltage
- By Application
- By Power Rating (Kw)
- By End-Use Industry
- By Country
Middle East & Africa
- By Voltage
- By Application
- By Power Rating (Kw)
- By End-Use Industry
- By Country
South America
- By Voltage
- By Application
- By Power Rating (Kw)
- By End-Use Industry
- By Country
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