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AC Drives Market Share

Report ID: GMI5925
Published Date: Jun 2023
Report Format: PDF

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AC Drives Market Share

Key manufacturers operating in the AC drives industry’s competitive landscape include

ABB
Siemens
Fuji Electric. Co., Ltd.
Rockwell Automation
Schneider Electric
TMEIC
Eaton
General Electric
Johnson Controls
WEG
Danfoss
Emerson Electric Co.
Hitachi Hi-Rel Power Electronics Private Limited
YASKAWA ELECTRIC CORPORATION
PARKER HANNIFIN CORP
NIDEC CORPORATION
Danfoss

Key AC drives market leaders are actively engaging in strategic alliances, partnerships, mergers, and acquisitions to drive technological innovations and strengthen their market presence. These initiatives help them expand their product portfolios, enhance their geographic reach, and tap into new customer segments. The growing partnerships and acquisitions allow companies to leverage their strengths and resources, accelerate innovation, and offer comprehensive solutions to a larger customer base throughout the industry.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of AC drives surpassed USD 16.3 billion in 2023 and is likely to grow at 4.7% CAGR from 2024 to 2032 attributed to the increasing need for energy-efficient motor control solutions.

Low voltage AC drives industry was valued at more than USD 14.5 billion in 2022 and is set to record substantial growth till 2032 driven by rising adoption due to compact size for installations at limited spaces.

Asia Pacific AC drives industry recorded over USD 5.7 billion in 2022 and is set to observe significant expansion through 2032 on account of the accelerating expenditures in the manufacturing sector along with increasing adoption of high-power machinery.

Some of the prominent manufacturers of AC drives are ABB, Siemens, Fuji Electric. Co., Ltd., Rockwell Automation, Schneider Electric, TMEIC, Eaton, General Electric, Johnson Controls, WEG, Danfoss, Emerson Electric Co., and Hitachi Hi-Rel Power Electronics Private Limited