Urbanization, industrialization, ever increasing demand for energy along with the rising electricity prices and regulations on energy efficiency are some of the factors driving the 'AC drives' market.
The high potential of alternating current drives to reduce energy consumption, greater return on investment (ROI) and enhanced efficiency, provide opportunities for the upgradation & retrofitting market. In addition, saving a considerable amount of energy is expected to help reduce carbon dioxide emissions. Moreover, the efficient use of energy is a precondition for global growth and increased prosperity.
By region, the market is segmented into North America, South America, Europe, Asia-Pacific (APAC), and the Middle East & Africa. APAC accounts for a major share owing to urbanization and significant development in industries such as manufacturing, cement, metal processing, food & beverage, paper & pulp and textile followed by Europe and North America. Moreover, the Middle East & Africa market is expected to grow at a faster pace, underpinned by large-scale infrastructure spending along with oil & gas operations.
Despite short-term economic slowdown due to various factors such as the decline in oil prices, structural change in China, Brexit etc., emerging markets will continue to drive the economic growth as they are constantly investing in long-term in infrastructure and basic industries.
By voltage, 'AC drives' market has been primarily segmented into low and medium voltage. Significant adoption of medium voltage drives in energy-intensive industries such as metal, cement, and power etc. is pushing the growth of 'AC drives' market.
Furthermore, the market has also been segmented on the basis of power rating into low power (Up to 40kW), medium power (41-200kW), and high power 'AC drives' (Above 200kW).
By end-use industry, the 'AC drives' market has been segmented into oil & gas, water & wastewater, power generation, building automation, food & beverage, metals & mining, chemicals & petrochemicals and 'others,' which constitute industries such as cement, textile, and pulp & paper industries. Oil & gas is the largest end-user for the 'AC drives' market. The water & wastewater industry is expected to have a high growth rate in the wake of rapid urbanization and industrialization.
*Values are given for indicative purpose only. Real values will be available in the full report
This report comprehensively analyses the 'AC drives' market by segmenting it based on the voltage (low and medium voltage 'AC drives'), end use industry, application, and geography. Key drivers and restraints that are affecting the growth of this market are discussed in detail. The study also elucidates on competitive landscape and profiling of key market players along with the market shares. Some of the prominent vendors of the market include ABB Ltd, Danfoss Group, Mitsubishi Electrical Co, Ltd., Schneider Electric Co., Siemens AG, Fuji Electric Co., Ltd., Emerson Electric Co, Hiconics Drive Technology Co. Ltd., Hitachi Ltd., Rockwell Automation, Toshiba International Corporation Ltd., and Yaskawa Electric Co.
2. Research Methodology
3. Market Overview
3.2 Market Demand to 2022
3.3 Recent Trends and Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis
5. AC Drives Industry Value Chain Analysis
6. Porters Five Force Analysis
6.1 Bargaining Power of Supplier
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitute Products and Services
6.5 Degree of Competition
7. AC Drives Market Analysis, by Voltage
7.1 Low Voltage
7.2 Medium Voltage
8. AC Drives Market Analysis, by Application
8.6 Other Applications
9. AC Dives Market Analysis, by End Use Industry
9.1 Oil & Gas
9.2 Water & Wastewater
9.3 Power Generation
9.4 Building Automation
9.5 Food & beverage
9.6 Metals & mining
9.7 Chemicals & Petrochemicals
10. AC Drives Market Segmentation, by Geography
10.1 North America
10.1.2 Major Countries
10.1.2.1 United States of America
10.1.2.3 Rest of North America
10.2.2 Major Regions
10.2.2.4 Rest of Europe
10.3 Middle East and Africa
10.3.2 Major Countries
10.3.2.1 Saudi Arabia
10.3.2.6 Rest of Middle East and Africa
10.4.2 Major Countries
10.4.2.4 Rest of Asia-Pacific
10.5 South America
10.5.2 Major Countries
10.5.2.4 Rest of South America
11. Key Company Analysis
11.1 ABB Ltd
11.2 Danfoss Group
11.3 Mitsubishi Electrical Co, Ltd.
11.4 Schneider Electric Co.
11.5 Siemens AG
11.6 Fuji Electric Co., Ltd.,
11.7 Emerson Electric Co
11.8 Hiconics Drive Technology Co. Ltd.
11.9 Hitachi Ltd
11.10 Rockwell Automation
11.11 Toshiba International Corporation Ltd.
11.12 Yaskawa Electric Co.
12. Competitive Landscape
12.1 Mergers & Acquisitions
12.2 Joint Ventures, Collaborations and Agreements
12.3 Market Share Analysis