The global AC drives market reached a value of US$ 20.5 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
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.
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:
- Historical, Current and Future Market Trends
Breakup by Power Rating:
- 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:
- 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.
Key Questions Answered in This Report:
- How has the global AC drives market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global AC drives industry?
- What has been the impact of COVID-19 on the global AC drives industry?
- What is the breakup of the global AC drives market on the basis of power rating?
- What is the breakup of the global AC drives market on the basis of voltage?
- What is the breakup of the global AC drives market on the basis of application?
- What is the breakup of the global AC drives market on the basis of end-use?
- What are the various stages in the value chain of the global AC drives market?
- What are the key driving factors and challenges in the global AC drives market?
- What is the structure of the global AC drives market and who are the key players?
- What is the degree of competition in the global AC drives market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global AC Drives Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Power Rating
5.5 Market Breakup by Voltage
5.6 Market Breakup by Application
5.7 Market Breakup by End-Use
5.8 Market Breakup by Region
5.9 Market Forecast
6 Market Breakup by Power Rating
6.1 Low Power Drives (<40 kW)
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Medium Power Drives (41 kW - 200 kW)
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 High Power Drives (>200 kW)
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Voltage
7.1 Low Voltage
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Medium Voltage
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Application
8.1 Pumps
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Fans
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Compressor
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Conveyors
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Extruders
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by End-Use
9.1 Food and Beverage
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Water and Wastewater
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 HVAC
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Oil and Gas
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Power
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Metal Processing
9.6.1 Market Trends
9.6.2 Market Forecast
9.7 Chemicals
9.7.1 Market Trends
9.7.2 Market Forecast
9.8 Others
9.8.1 Market Trends
9.8.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Europe
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Asia Pacific
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Middle East and Africa
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Latin America
10.5.1 Market Trends
10.5.2 Market Forecast
11 Global AC Drives Industry: SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 ABB Ltd
15.3.2 Danfoss Group
15.3.3 Schneider Electric Se
15.3.4 Siemens AG
15.3.5 Mitsubishi Electrical Corporation
15.3.6 Fuji Electric Co. Ltd.
15.3.7 Emerson Electric Co.
15.3.8 Hitachi Ltd
15.3.9 Parker Hannifin Corporation
15.3.10 Rockwell Automation,Inc.
15.3.11 Toshiba International Corporation
15.3.12 WEG SA
15.3.13 Yaskawa Electric Corporation
List of Figures
Figure 1: Global: AC Drives Market: Major Drivers and Challenges
Figure 2: Global: AC Drives Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: AC Drives Market: Breakup by Power Rating (in %), 2020
Figure 4: Global: AC Drives Market: Breakup by Voltage (in %), 2020
Figure 5: Global: AC Drives Market: Breakup by Application (in %), 2020
Figure 6: Global: AC Drives Market: Breakup by End-Use (in %), 2020
Figure 7: Global: AC Drives Market: Breakup by Region (in %), 2020
Figure 8: Global: AC Drives Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 9: Global: AC Drives Industry: SWOT Analysis
Figure 10: Global: AC Drives Industry: Value Chain Analysis
Figure 11: Global: AC Drives Industry: Porter’s Five Forces Analysis
Figure 12: Global: AC Drives (Low Power Drives) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: AC Drives (Low Power Drives) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: AC Drives (Medium Power Drives) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: AC Drives (Medium Power Drives) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: AC Drives (High Power Drives) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: AC Drives (High Power Drives) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: AC Drives (Low Voltage) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: AC Drives (Low Voltage) Market Forecast: Sales Value (in Million US$),
Figure 20: Global: AC Drives (Medium Voltage) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: AC Drives (Medium Voltage) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: AC Drives (Pumps) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: AC Drives (Pumps) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: AC Drives (Fans) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: AC Drives (Fans) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: AC Drives (Compressor) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: AC Drives (Compressor) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: AC Drives (Conveyors) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Global: AC Drives (Conveyors) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: AC Drives (Extruders) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Global: AC Drives (Extruders) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Global: AC Drives (Others) Market: Sales Value (in Million US$), 2015 & 2020
Figure 33 Global: AC Drives (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Global: AC Drives (Food and Beverage) Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Global: AC Drives (Food and Beverage) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: Global: AC Drives (Water and Wastewater) Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: Global: AC Drives (Water and Wastewater) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Global: AC Drives (HVAC) Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Global: AC Drives (HVAC) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Global: AC Drives (Oil and Gas) Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Global: AC Drives (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Global: AC Drives (Power) Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Global: AC Drives (Power) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Global: AC Drives (Metal Processing) Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: Global: AC Drives (Metal Processing) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Global: AC Drives (Chemicals) Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: Global: AC Drives (Chemicals) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Global: AC Drives (Others) Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Global: AC Drives (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: North America: AC Drives Market: Sales Value (In Million US$), 2015 & 2020
Figure 51: North America: AC Drives Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Europe: AC Drives Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Europe: AC Drives Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Asia Pacific: AC Drives Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: Asia Pacific: AC Drives Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Middle East and Africa: AC Drives Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: Middle East and Africa: AC Drives Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: Latin America: AC Drives Market: Sales Value (in Million US$), 2015 & 2020
Figure 59: Latin America: AC Drives Market Forecast: Sales Value (in Million US$), 2021-2026
List of Tables
Table 1: Global: AC Drives Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: AC Drives Market Forecast: Breakup by Power Rating (in Million US$), 2021-2026
Table 3: Global: AC Drives Market Forecast: Breakup by Voltage (in Million US$), 2021-2026
Table 4: Global: AC Drives Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 5: Global: AC Drives Market Forecast: Breakup by End-Use (in Million US$), 2021-2026
Table 6: Global: AC Drives Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: AC Drives Market Structure
Table 8: Global: AC Drives Market: Key Players