Asia Pacific Low Voltage Drives Market Analysis

Asia Pacific Low Voltage Drives Market Analysis

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Asia Pacific low voltage drives market revenue from the low power range segment is expected to depict over 4% growth rate through 2030. The rise in electricity costs and shifting preference toward energy savings have encouraged the installation of low power range drives. These units change the output speed and torque of motors without the use of manual pulleys, reducing the circuit size and overall maintenance.
 

Furthermore, low voltage drives are used across data centers to cool the IT equipment. They are integrated into fans that operate at variable speeds depending on the data center load. Low power range drives are also used in pumps, compressors, and material handling systems, among other industrial applications.
 

The APAC low voltage drives market from open loop system is estimated to attain more than 4% CAGR till 2030. Open-loop LV drives are simple in design in comparison to closed-loop drives. These components are typically used in AC drives where the built-in motor speed regulation is within the acceptable range of 3-5%. Additionally, these systems offer higher torque output and flexible control features. Owing to its simple design, the components used in open loop drives are less demanding which reduces the maintenance costs. In addition to affordability, these systems offer a wide and precise spectrum of speed adjustments with high levels of precision.
 

The conveyor application in APAC low voltage drives market is predicted to observe 6% gains through 2030. The food industry requires conveyors to quickly transport raw materials and food products from one point to another. Conveyor performance relies heavily on components like LV drives, which are essential for improving reliability, mitigating maintenance requirements, and generating energy savings.
 

The Asia Pacific low voltage drives market value from oil & gas end-use segment is anticipated to reach USD 1.8 billion by 2030. This growth is accredited to the growing investment in the discovery and production of hydrocarbon reserves.
 

For instance, in December 2021, Cairns Oil and Gas announced plans to invest up to USD 5 billion over the next two or three years, with the aim of expanding oil production in India to over 500,000 barrels per day. Since most operations in the oil & gas sector require the use of electrical equipment, these developments are creating strong demand for efficient and reliable components like low voltage drives.
 

The Indian low voltage drives market size is poised to surpass USD 1.3 billion by 2030. Growing demand for reliable technologies, along with the expanding manufacturing sector is driving the regional market growth. According to the India Brand Equity Foundation, India has the potential to add over USD 500 billion per year to the world’s economy by 2030, becoming a global manufacturing hub. Such accelerated growth, in addition to investments in utility-based electrification, will increase the adoption of electrical components such as low voltage drives in heavy industries.