Middle East & Africa Low Voltage Drives Market size to exceed $700mn by 2027
Published Date: July 19, 2021 Authors: Ankit Gupta, Srishti Agarwal
Middle East & Africa Low Voltage Drives Market size is projected to surpass USD 700 million by 2027, as reported in the latest study by Global Market Insights, Inc.
The Middle East & Africa low voltage drives industry share is anticipated to observe a substantial growth on account of the shifting focus on the adoption of alternative energy sources. Regulatory norms and mandates toward the deployment of energy-efficient electrical structure, followed by the upcoming trend of smart manufacturing will fuel the industry dynamics. Rising technical advancements focusing on the operation of electrical products & systems will stimulate the business landscape.
Increasing industrialization along with the shifting focus toward the adoption of energy-efficient systems will drive the industry share
The increasing number of industrial facilities, commercial premises, urban stretches, and utility communities has led to the integration of a wide range of electrical components, augmenting the Middle East & Africa low voltage drives market demand. Ongoing regulatory mandates to develop energy-efficient equipment will sway the industry landscape. The rising demand for grid reliability and the integration of a sustainable electrical infrastructure have further compelled regulators to abide by the stringent energy efficiency concord. The implementation of reforms across the region has manifested a standard business scenario, leading to the enhancement of existing and upcoming electrical projects across the regions.
Browse key industry insights spread across 300 pages with 457 market data tables & 32 figures & charts from the report, “Middle East & Africa Low Voltage Drives Market Statistics By Power Range (Micro Drives, Low Drives), Capacity (< 2.2 kW, 2.2 kW - 7.4 kW, 7.5 kW - 22 kW, 23 kW - 75 kW, 76 kW - 110 kW, 111 kW - 500 kW, > 500 kW), Drive (AC, DC, Servo), Technology (Standard Drives, Regenerative Drives), System (Open Loop, Closed Loop), Application (Pump, Fan, Conveyer, Compressor, Extruder), End-Use (Oil & Gas, Power Generation, Food Processing, Automotive, Mining & Metals, Pulp & Paper, Textile, Marine), Industry Analysis Report, Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Technological advancements along with the development of intelligent drive systems will sway the demand for standard drives.
The growing use of advanced drives with motors owing to improvements in the product quality, reduction in energy consumption, and process control will augment the Middle East & Africa low voltage drives market size. Expanding automation across the industrial sector, decreasing system costs on account of upgraded technology for power devices, and enhanced manufacturing techniques are set to enhance the product penetration. The continued trend toward minimizing costs with improved manufacturability along with shifting reforms supporting their adoption will accelerate the development of modern drive systems.
Ongoing joint ventures along with strategic collaborations amongst major players will stimulate the industry dynamics
The inorganic growth ventures including agreements enabling the players to improve their brand presence across the countries will stimulate the product adoption. For instance, ABB entered into an order agreement with Canal Sugar for the delivery of an ACS880 multidrive customized for the regenerative operation of the sugar factory, which will be operational by the end of 2021.
Major participants have established a strong foothold in the industry to gain a competitive edge over other player. For instance, in 2020, ABB entered into an extension partnership agreement with BI, for the distribution of low voltage IE3 motors, certified as variable speed drives across South Africa. It will support the company to expand its regional presence across the continent. The efficiency class transitions specifically in the developing nations toward IE2 & IE3 will support will complement the business scenario.
The key players in the Middle East & Africa low voltage drives market include Danfoss, ABB, WEG, Siemens, Fuji Electric, Nidec Corporation, Schneider Electric, Mitsubishi Electric Corporation, Rockwell Automation, Yaskawa Electric Corporation, Hitachi Ltd, Bosch Rexroth AG, and Beckhoff Automation.
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