Low Voltage AC Drives Market Analysis

Low Voltage AC Drives Market Analysis

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The micro low voltage AC drives market is projected to observe over 4% CAGR through 2032. The units are designed to control the speed of small AC motors in low power applications. They typically have a power range of up to 3kW and are commonly used in small machinery, such as pumps, fans, and conveyors. One of the primary benefits of these drives is their compact size, which makes them ideal for use in applications with limited space. They are also easy to install and operate, with user-friendly interfaces that allow for quick and easy programming.
 

Micro LV AC drives offer precise speed control, allowing for efficient energy usage and reducing wear and tear on equipment. They can also provide soft starting and stopping of motors, which helps to prolong the lifespan of mechanical components. These units are also equipped with advanced features such as PID controllers and communication protocols that enable them to integrate with other automation systems. This allows for greater control and monitoring of the system, as well as more efficient operation drives are a cost-effective and reliable solution for small motor control applications.
 

IE1 efficiency class, also known as standard efficiency which includes that motors are the least energy-efficient and are typically used in applications where energy efficiency level is around 75%. IE2 is the high efficiency class required by the EU's Ecodesign Directive for LV AC drives in new installations. It has an efficiency level of around 84% and can help to reduce energy consumption and lower operating costs.
 

IE4 is a high-efficiency class for LV AC drives, with an efficiency level of around 90%. It is becoming increasingly popular due to its energy-saving benefits and is often required for new installations in certain countries. IE 4 is the highest efficiency class for LV AC drives, with an efficiency level of around 95%. It provides the greatest energy savings and is recommended for new installations where high efficiency and energy savings are a top priority.
 

Ongoing technological advancements along with the introduction of stringent regulatory norms and standards for LV AC drives will lead to an upsurge in demand for energy-efficient systems. The industry is witnessing a significant momentum owing to the shifting focus on reduction of electricity bills along with energy-saving potential. Recognizing the growing significance of energy conservation across application areas, low voltage AC drives are emerging as an inventive technology of choice. Moreover, installation of these systems allows pumps, fans, compressors, conveyers, and extruders to operate optimally and at a reduced capacity along with the ability to reduce the motor speed, thereby efficiently utilizing power and electrical energy will augment the low voltage AC drives market demand.
 

Rising demand for air compressors and pumps in the petrochemical industry for production process is anticipated to complement the low voltage AC drives market growth. As power consumption varies with the load size, a lot of energy can be saved by installing LV drives that produce substantial energy-saving effect. Moreover, HVAC systems constitute major proportion of energy consumption in a facility. According to the U.S. Department of Energy (DOE), HVAC systems consume 40-60% percent of power in a facility. Furthermore, improved efficiency, introduction of advanced technology along with the continued trend toward minimizing costs through improved manufacturability is set to accelerate the future development of intelligent drive systems.
 

The demand for low voltage AC drives is witnessing an expanding array of application across diverse industries including oil & gas, food processing, power generation, automotive, pulp & paper, mining & metals, marine, and textile. The O&G industry is fundamentally dependent on active and reliable operation of large pumps and compressors, which in turn create a cyclical low voltage AC drives market size.
 

Lower environmental impact, high reliability and improved efficiency are some of the key parameters accelerating the use of LVDs in this sector. The continued and ever-increasing shift toward product deployment with gas turbine motors is largely driven by their ability to offer operational and economic viability across a multitude of O&G operations. They require minimal maintenance as opposed to gas turbines which demand frequent maintenance. This allows improved production, lower maintenance expenses, and enhanced productivity of the operation which will fuel the product deployment.
 

Rising adoption of low voltage AC drives across the food processing industry owing to the demanding and unique requirements across several verticals including poultry & fish, meat, dairy & baking goods, along with the applications comprising mixers, conveyers, and grinders. The drives are experiencing a significant rise in demand owing to effective machine operations, long lasting technology, and highest possible energy efficiency level throughout their lifespan. Furthermore, ongoing technological enhancements together with accelerating R&D investments for product upgradation will further fuel the low voltage AC drives market outlook.
 

The Asia Pacific low voltage AC drives market dominated for USD 6.4 billion revenue in 2022, due to accelerating investments across manufacturing sector including increasing utilization of high-power machinery. The growing specter of rising energy prices, along with concerns over availability and environmental impact, has amplified interest in energy efficient technologies across the region.
 

The industry in APAC is driven by persistent technological innovation reinforced by a multitude of legislative requirements and harmonization policies, aimed at energy efficiency. For instance, in March 2021, Fuji Electric launched the FRENIC-MEGA drive, which controls the rotational speed or torque of an AC motor. This product offers equipment operation optimization and helps VT Applications to attain energy savings. These drives are designed to fulfill the increasing requirement for precise & stable speed control of equipment to enhance productivity. The continued adoption of improved performance and higher efficiency motors across energy intensive manufacturing industries will continue to boost the Asia Pacific low voltage drives industry.