Low Voltage Drives Market Size By Power Range (Micro, Low), By Capacity (<2.2 kW, 2.2-7.4 kW, 7.5-22 kW, 23-75 kW, 76-110 kW, 111-500 kW, >500 kW), By Drive (AC { By Efficiency [IE1, IE2, IE3, IE4,]}, DC, Servo), By Technology (Standard, Regenerative), By System (Open Loop, Closed Loop), By Application (Pump, Fan, Conveyor, Compressor, Extruder), By End-Use (Oil & Gas, Power Generation, Food Processing, Automotive, Mining & Metals, Pulp & Paper, Textile, Marine) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Jul 2019  |  Report ID: GMI4148  |  Authors: Ankit Gupta, Asmita Semwal

Report Format: PDF   |   Pages: 830   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Low Voltage Drives Market size in 2018 valued at USD 11 billion and the annual installation is set to surpass 25 million units by 2025.
 

U.S. Low Voltage Drives Market Size, By Application, 2018 & 2025 (USD Million)

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Rapid industrialization, increasing demand for optimized energy, introduction of energy efficiency standards and upsurge in electricity prices is set to boost the low voltage drives market growth. Stringent government mandates with an aim to promote environment sustainability along with increasing demand for electricity will foster the product installation. Ongoing R&D activities coupled with rising investments for infrastructure across developing nations is further projected to complement the industry outlook.
 

Low Voltage Drives Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 11 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 4.1% 2025 Value Projection: 15 Billion (USD)
Pages: 830 Tables, Charts & Figures: 1721
Geographies covered (38): U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Norway, Sweden, Poland, Netherlands, Belgium, Denmark, China, Japan, India, Australia, South Korea, Thailand, Singapore, Malaysia, Philippines, Vietnam, Indonesia, Saudi Arabia, UAE, Qatar, Jordan, Iran, South Africa, Nigeria, Egypt, Algeria
Segments covered: Power Range, Capacity, Drive, Technology, System, Application, End-Use and Region
Companies covered (16): Johnson Controls, Inc., Honeywell International, Inc., ABB Limited, Emerson Electric Co., Siemens AG, Schneider Electric, CG Power and Industrial Solutions Limited, Strategies Outlook, Mitsubishi Electric Corporation, Eaton Corporation, Fuji Electric Co. Ltd., Rockwell Automation, WEG Electric Corporation, Yaskawa Electric Corporation, Hiconics Eco-energy Technology Co. Ltd, Danfoss, Hitachi
Growth Drivers:
  • Increasing focus toward energy efficiency
  • Introduction of international efficiency levels
  • Technological advancements
  • Asia Pacific
  • Growing infrastructural spending
  • Middle East & Africa and Latin America
  • Increasing demand for electricity
Pitfalls & Challenges:
  • High implementation cost

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Low Voltage Drives Market, By Voltage

Technological advancements in small and medium enterprises along with increasing retrofitting activities across commercial, industrial and residential establishments is anticipated to stimulate industry growth. In addition, growing integration of low energy units owing to compact size & easy installation in various industries including power generation, food processing and oil & gas will strengthen the business landscape.
 

Micro voltage is projected to grow on account of expansion of electrical infrastructure. User friendly interface, reliability and customizable frequency are some of the key parameters positively influencing the product installation. Rising focus toward adoption of clean power technologies with an objective to achieve renewable energy targets is anticipated to fuel the industry scenario.
 

Low Voltage Drives Market, By Capacity

<2 kW capacity is projected to witness a gain over 5% by 2025. Enhanced overload capacity, frequency stability and faster development rate are some of the key factors strengthening the product adoption. In addition, constant network power factor, flexible inputs and air- & water-cooling techniques will drive the industry outlook. The retrofitting and refurbishments of the electrical network across households and government offices on account of stringent building emission and energy efficiency norms will further modulate the industry growth.
 

Low Voltage Drives Market, By Drive

Germany Low Voltage Drives Market Size, By Drive, 2018 (USD Million)
Germany Low Voltage Drives Market Size, By Drive, 2018 (USD Million)

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AC low voltage drives market will witness growth on account of low maintenance cost, improved energy efficiency and high reliability. Increasing high-end electricity consumption along with the presence of new HVAC and heavy load machinery will drive the industry growth. Moreover, growing demand for processed food along with rising customer inclination toward value added products is anticipated to complement the industry outlook.
 

DC drives are projected to grow owing to wide applicability across high power, regenerative, and other industrial applications. Accelerating investments across the manufacturing sector including paper mills, mine winders, printing presses, cranes, rolling mills, textile mills, and hoists will further boost the product demand.
 

Low Voltage Drives Market, By Technology

Standard low voltage drive market is anticipated to grow on account of optimal space and cost utilization coupled with product versatility and flexibility to control motor speed. The voltage drives use pulse width modulation signals for generating analog signals to determine the frequency fluctuations across a timeframe. The growing acceptance across numerous industries owing to their compact size will encourage the business landscape.
 

Low Voltage Drives Market, By System

Closed loop control functions when an encoder is used in combination with a vector drive for providing shaft position feedback. The information pertaining shaft position permits the controller to regulate the torque output. Minimum downtime, maximum motor performance & efficiency along with easy energy recovery and optimal utilization of recovered energy is set to boost the product adoption.
 

Low Voltage Drives Market, By Application

Pumps low voltage drives market is set to exceed USD 4 billion by 2025. Advanced features including adjustable operating speed according to flow rate, settling velocity and static head will drive the industry outlook. 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. In addition, these systems eliminate the requirement of valves to control the flow and save substantial energy that will in turn complement the industry landscape.
 

Conveyor application is projected to grow owing to reduced power consumption, regenerative breaking, synchronization of multiple motors and low harmonic drives. In addition, growing concern toward work time safety and strict regulations for energy efficient products is anticipated to enhance business outlook. Long belt life, smooth reversing and dynamic torque & speed procedures will further drive the product penetration.
 

Low Voltage Drives Market, By End User

Oil & Gas low voltage drives market is set to grow owing to growing focus toward reliability & safety coupled with increased awareness toward alternative energy sources. In addition, rising exploration activities along with lower production cost and optimized profit margins will enhance the business outlook. The O&G industry is fundamentally dependent on the active and reliable operation of large pumps and compressors which in turn create a cyclical product demand.
 

Marine industry is anticipated to exceed an annual installation of 1 million units by 2025. Rising shipbuilding activities along with increasing maritime trade & retrofitting activities will encourage the product adoption. Growing demand for less energy consumption and lower operating & maintenance cost, extended equipment life, and high energy savings are few factors positively influencing the business scenario.
 

Low Voltage Drives Market, By Region

China Low Voltage Drives Market Size, By Efficiency Class, 2018 - 2025 (‘000 Units)
China Low Voltage Drives Market Size, By Efficiency Class, 2018 - 2025 (‘000 Units)

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The U.S. low voltage drives market is projected to witness growth on account of shifting focus toward the adoption of variable frequency systems for reciprocating and centrifugal equipment. The device can be utilized as substitute of dampers, fixed speed controllers and valves further boosting the product adoption. In addition, the rising energy prices along with concerns over availability and environmental impact, has amplified interest in energy efficient technologies.
 

Competitive Market Share

Key industry players in the low voltage drives market include Johnson Controls, Honeywell, ABB, Siemens, Schneider Electric, CG Power and Industrial Solutions, Fuji Electric, WEG Electric, Yaskawa, Hiconics, Danfoss, Hitachi, Rockwell Automation, Emerson, Eaton, and Mitsubishi.
 

The manufacturers are majorly focusing on new product launch, mergers & acquisitions and R&D to gain competitive advantage in the industry.
 

Low Voltage Drives Market, Background

Low voltage drives control the motor torque and speed by changing input frequency of electro-mechanical motors. These drives account for the power rating of <2 kW to >500 kW range and vary the output speed of motor without using mechanical pulleys, thereby reducing the quantity of mechanical component and overall maintenance. Common uses for low-end drives include pumps, fans, machinery, packaging, conveyors, compressors, material handling and cooling systems.
 


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