AC Drives Market Research Report Information by Voltage (Low, Medium), Power Rating (Low, Medium, & High), Application (Pumps, Fans, Extruders, Conveyors), End-Use (Oil & Gas, Metals & Mining, F&B, Power Generation), & Region – Industry Analysis and Global Forecast till 2023
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Market Research Future published a research report on global AC Drives Market. The AC Drives Market is expected to expand at 7.05% CAGR during the period 2018 to 2023.
The global AC drives market is projected to grow at a high rate during the forecast period, mainly due to regulations in energy efficiency. For instance, in March 2019, according to the World Nuclear Association, nuclear power plants are using advanced nuclear power reactors for the safety and reliability of the process. These reactors will have active safety systems and additional pumps, which will work on AC drives. Furthermore, major market players such as ABB and Schneider Electric are using advanced technology including Industrial Internet of Things (IIoT), which will offer high growth opportunities for the AC drive market.
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AC Drives Market Highlights
AC drives are used to control the speed of an electric motor that are used in electrical products. The speed of the motor is controlled by changing the frequency of the electricity passing through the motor. The AC drives are commonly used in industries, such as oil & gas, power generation, food & beverage, metals & mining, and others. The major advantages of AC drives include energy saving, reverse operation, and elimination of mechanical components in order to reduce maintenance cost.
AC Drives Market Leading Players Analyzed Are:
The key players of global AC drives market are ABB (Switzerland), Siemens (Germany), Danfoss Group (Denmark), Schneider Electric (France), Rockwell Automation, Inc. (US), Mitsubishi Electric Corporation (Japan), Yaskawa Electric Corporation (Japan), WEG (Brazil), Toshiba International Corporation (Japan), Hiconics Drive Technology Co. Ltd (China), Hitachi Ltd (Japan), Parker Hannifin Co (US), Delta Electronics, Inc. (Taiwan), and others.
AC Drives Market Segmental Overview
Global AC Drive Market has been segmented based on voltage, power rating (kW), application, end-use, and region.
On the basis of voltage, the market is classified into low and medium voltage. Low voltage segment is leading the AC drives market as these drives are mostly used with electric motors and transformers.
On the basis of power rating, the market is segmented into low power drives, medium power drives, and high-power drives.
On the basis of applications, the market is segmented into pumps, fans, compressors, conveyors and extruders.
On the basis of end-use, the AC drives market is segmented into oil & gas, power generation, water & wastewater, building automation, food & beverage, metals & mining, and chemicals & petrochemicals.
Regional Analysis:
Region wise, Asia-Pacific held the largest share of the global AC drives market in 2017. It is estimated that Asia-Pacific would be the fastest growing market during the forecast period, mainly due to the industrialization and urbanization. Moreover, the increased demand for energy efficient equipment and supportive government plans are expected to drive the market for AC drives in Asia-Pacific.
Scope of the Report
This report provides an in-depth analysis of the global AC drives market, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East, Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the AC drives market by its voltage, power rating, application, end-user, and by region.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
5 Market Dynamics
5.1 Introduction
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Porter’s Five Forces Analysis
5.6 Value Chain/Supply Chain Analysis
Continued……
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