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Low Voltage AC Drives Market Share

Report ID: GMI5773
Published Date: May 2023
Report Format: PDF

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Low Voltage AC Drives Market Share

Key manufacturers in the low voltage AC drives market include

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

Major companies operating across the market are making strategic alliances and partnerships to introduce new technological innovations along with focusing on mergers and acquisitions to strengthen their industry presence.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of low voltage AC drives was more than USD 14.8 billion in 2023 with an estimated 4.6% CAGR from 2024 to 2032, due to significant increase in energy demand across emerging economies and the need for higher energy storage capacities.

Micro low voltage AC drives industry share will register over 4% CAGR through 2032, owing to key product benefits such as ease of installation & operation, small size, user friendly interface and advanced features including PID controllers and communication protocols.

The O&G end-user segment will record significant growth during the coming years, with the need for reliable operations of pumps & compressors and product deployment with gas turbine motors.

APAC market value exceeded USD 6.4 billion in 2022 and is expanding with a surge in investments across the manufacturing sector where power machinery is used, along with higher interest in adopting energy-efficient technologies.