AC Drives Market Report by Power Rating (Low Power Drives (<40 kW), Medium Power Drives (41 kW - 200 kW), High Power Drives (>200 kW)), Voltage (Low Voltage, Medium Voltage), Application (Pumps, Fans, Compressor, Conveyors, Extruders, and Others), End-Use (Food and Beverage, Water and Wastewater, HVAC, Oil and Gas, Power, Metal Processing, Chemicals, and Others), and Region 2024-2032

AC Drives Market Report by Power Rating (Low Power Drives (<40 kW), Medium Power Drives (41 kW - 200 kW), High Power Drives (>200 kW)), Voltage (Low Voltage, Medium Voltage), Application (Pumps, Fans, Compressor, Conveyors, Extruders, and Others), End-Use (Food and Beverage, Water and Wastewater, HVAC, Oil and Gas, Power, Metal Processing, Chemicals, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A1215
Buy Now

Market Overview:

The global AC drives market size reached US$ 25.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 41.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 25.0 Billion
Market Forecast in 2032
US$ 41.0 Billion
Market Growth Rate 2024-2032 5.5%


AC drives are used for regulating the velocity of electric motors and function by fluctuating the frequency, magnetic flux and voltage in the motor’s circuit. They are used to achieve effective control over the motor’s speed and reduce energy consumption. Owing to this, they are employed across the oil and gas, power generation, building automation, food and beverage, and metals and mining sectors.

Market Drivers:

  • The low energy consumption of AC drives is one of the prime factors that is driving the growth in the market. They adopt energy-saving techniques which avoid strain on natural resources and offer a greater return on investment and efficiency. The use of these devices also reduces disturbances in the power supply and lowers carbon dioxide emissions.
  • Rapid industrialization and urbanization have increased the demand for automated and motor-driven equipment, in turn, escalating the sales of AC drives worldwide. Additionally, improving standards of living have catalyzed the development of modern infrastructure which has further contributed to the growth of the market.
  • The low production cost of AC drives coupled with an increase in electricity prices has bolstered their sales. Since these drives consume a minimal amount of electricity, require less maintenance and are easy to use, they are being preferred by manufacturers across the globe for use in motor-driven equipment.
  • The increasing popularity of industrial Internet of Things (IoT), along with the usage of cloud computing, mobile communications and web technologies for controlling and maintaining these drives, is also expected to create a positive impact on the growth of the market.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

To get more information about this market, Request Sample

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global AC drives market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on power rating, voltage, application and end-use.

Breakup by Power Rating:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

To get more information about this market, Request Sample

  • Low Power Drives (<40 kW) 
  • Medium Power Drives (41 kW - 200 kW)
  • High Power Drives (>200 kW)


Breakup by Voltage:

  • Low Voltage
  • Medium Voltage


Breakup by Application:

  • Pumps
  • Fans
  • Compressor
  • Conveyors
  • Extruders
  • Others


Breakup by End-Use:

  • Food and Beverage
  • Water and Wastewater
  • HVAC
  • Oil and Gas
  • Power
  • Metal Processing
  • Chemicals
  • Others


Breakup by Region:

 

 
 

 

To get more information on the regional analysis of this market, Request Sample

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being ABB Ltd, Danfoss Group, Schneider Electric Se, Siemens AG, Mitsubishi Electrical Corporation, Fuji Electric Co. Ltd., Emerson Electric Co., Hitachi Ltd, Parker Hannifin Corporation, Rockwell Automation,Inc., Toshiba International Corporation, WEG SA, Yaskawa Electric Corporation, etc.

IMARC Group’s latest report provides a deep insight into the global AC drives market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global Ac drives market in any manner

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Power Rating, Voltage, Application, End-Use, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered ABB Ltd, Danfoss Group, Schneider Electric Se, Siemens AG, Mitsubishi Electrical Corporation, Fuji Electric Co. Ltd., Emerson Electric Co., Hitachi Ltd, Parker Hannifin Corporation, Rockwell Automation,Inc., Toshiba International Corporation, WEG SA and Yaskawa Electric Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global AC drives market was valued at US$ 25.0 Billion in 2023.

We expect the global AC drives market to exhibit a CAGR of 5.5% during 2024-2032.

The rising adoption of energy-efficient products, such as AC drives, to reduce power loss and enhance the energy efficiency of motors is primarily driving the global AC drives market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for AC drives.

Based on the power rating, the global AC drives market has been divided into low power drives (<40 kW), medium power drives (41 kW - 200 kW), and high power drives (>200 kW). Currently, low power drives (<40 kW) exhibit a clear dominance in the market.

Based on the voltage, the global AC drives market can be categorized into low voltage and medium voltage, where low voltage currently holds the majority of the total market share.

Based on the application, the global AC drives market has been segmented into pumps, fans, compressor, conveyors, extruders, and others. Currently, pumps account for the largest market share.

Based on the end-use, the global AC drives market can be bifurcated into food and beverage, water and wastewater, HVAC, oil and gas, power, metal processing, chemicals, and others. Among these, the power sector exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

Some of the major players in the global AC drives market include ABB Ltd, Danfoss Group, Schneider Electric Se, Siemens AG. Mitsubishi Electrical Corporation, Fuji Electric Co. Ltd., Emerson Electric Co., Hitachi Ltd, Parker Hannifin Corporation, Rockwell Automation,Inc., Toshiba International Corporation, WEG SA, Yaskawa Electric Corporation, etc.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
AC Drives Market Report by Power Rating (Low Power Drives (<40 kW), Medium Power Drives (41 kW - 200 kW), High Power Drives (>200 kW)), Voltage (Low Voltage, Medium Voltage), Application (Pumps, Fans, Compressor, Conveyors, Extruders, and Others), End-Use (Food and Beverage, Water and Wastewater, HVAC, Oil and Gas, Power, Metal Processing, Chemicals, and Others), and Region 2024-2032
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More