• Summary
  • Table Of Content
  • Segmentation
  • Request sample

AC Drives Market Synopsis

The global AC Drives Market size was valued at USD 24.22 Billion in 2023 and is projected to reach USD 49.23 Billion by 2032, growing at a CAGR of 8.2% from 2024 to 2032.

An AC drive is a device used to control the speed of an electrical motor to enhance process control. Reduce energy usage and generate energy efficiently. Decrease mechanical stress on motor control applications. Optimize the operation of various applications relying on electric motors.

  • AC drives, also known as variable frequency drives (VFDs) or inverters, are electronic devices used to control the speed and torque of an alternating current (AC) electric motor. They accomplish this by varying the frequency and voltage supplied to the motor. AC drives are essential in a wide range of industries and applications where precise control of motor speed is required.
  • AC drives convert the incoming AC voltage (typically at a fixed frequency of 50 or 60 Hz) into a variable frequency and voltage output. By adjusting the frequency and voltage, the drive can control the motor's speed, allowing for precise regulation of processes.
  • AC drives enable soft-start and soft-stop capabilities, reducing mechanical stress during motor start-up and shutdown. This feature prolongs the lifespan of motors and other connected equipment and contributes to energy savings by preventing abrupt, energy-intensive starts.

The AC Drives Market Trend Analysis

Increasing Rate of Industrialization and Urbanization to Fuel the Market

  • Substantial increases in urbanization along with the growing rate of industrialization are the major factors driving the AC market growth. Urbanization would increase consumer demand, which results in to increase in the manufacturing sector, propelling the demand for AC drives during the forecast period.
  • For instance, as per the Central Intelligence Agency, China, India, Malaysia, and Vietnam have an urban population of 60.3%, 34.5%, 76.6%, and 36.6% as of 2020 which is increasing at a rate of 2.4%, 2.4%, 2.1%, and 3% respectively. According to the World Investment Report, Governments are parallelly focusing on improvising the industrial policies and regulations to bring a conducive environment for exploring new industries and improve the sustainability amongst competitors such as strategic investment policy priorities, entry and establishment of foreign investors, and promotion and facilitation of investment policies. Hence, significant industrialization growth helps the market to grow at a faster pace. Rising urbanization and increasing rate of industrialization act as potential drivers for the AC drive market during the forecast period.
  • Favourable government regulations and supportive policies enhance the growth of the manufacturing industry, which helps to boost the AC drives market. For instance, the implementation of standards such as ISO 50001 (energy- management-system standard) in the building & automation sector has the potential to accelerate the integration of building automation systems.

Increasing Trends for Industrial Automation

  • Industrial automation systems aim to improve efficiency, reduce downtime, and enhance productivity. AC drives play a crucial role by providing precise control over motor speeds. This level of control allows machines and processes to operate at optimal speeds, leading to energy savings and increased efficiency.
  • Energy efficiency is a top priority in industrial settings. AC drives allow motors to operate at variable speeds, which means they can run at lower speeds when full power is not required. This not only reduces energy consumption but also extends the lifespan of motors and reduces maintenance costs. As energy costs continue to rise, industries seek ways to reduce their power usage, making AC drives a valuable solution.
  • Many industrial processes require precise control of motor speeds and torque to maintain quality and consistency. AC drives enable fine-tuned control, which is essential in industries such as chemical manufacturing, food processing, and pharmaceuticals. The demand for such control is a driving force behind the adoption of AC drives.
  • The concept of Industry 4.0, which focuses on smart, connected manufacturing, relies on automation and data exchange. AC drives are an integral part of this transformation as they can be integrated with sensors and data analytics to enable predictive maintenance and real-time adjustments. This leads to reduced downtime and improved overall equipment effectiveness (OEE).

  • As per Statista, the above graph shows the growth of the size of the global industrial automation market during 2020-2022. The global industrial automation market size was valued at USD 175 billion in 2020. The market is expected to grow at a compound annual growth rate (CAGR) of around 9% during the forecast period.

Segmentation Analysis of The AC Drives Market

The AC Drives market segments cover Voltage, Power Voltage, Application, and End User.  By Power Voltage, the Low Power segment is Anticipated to Dominate the Market Over the Forecast period.

  • Low-power drives are predominantly used for various applications such as fans, pumps, cranes, fluid machines, machine tools, printing machines, metal processing machines, food processing machines, and health & medical care instruments, among others. Due to the wide scope of application in vertical industries, the low-power drive segment is expected to dominate the market during the forecast period.
  • Major players in the industry are projecting the demand for AC drive based on application and technological scenarios which helps to meet consumer demand. The key players offering the low-power drive are Siemens, TMEIC, Fuji Electric, Nidec Industrial Solutions, and other players.
  • Low-power AC drives are generally more affordable than their medium-voltage counterparts. This affordability makes them an attractive option for businesses and industries looking to implement motor control solutions within budget constraints.
  • There is a growing emphasis on energy efficiency across industries. Low-power AC drives are effective in improving energy efficiency for small and medium-sized motors. Many commercial and industrial facilities seek to reduce their energy consumption, which drives the demand for low-power AC Drivers.

Regional Analysis of The AC Drives Market

Asia Pacific is Expected to Dominate the Market Over the Forecast Period.

  • APAC is home to the world's largest and fastest-growing industrial economies, including China and India. These countries have experienced significant industrialization and manufacturing expansion in recent decades. The demand for AC drives in various industries, such as automotive, electronics, chemicals, and textiles, has surged as a result.
  • The countries in Asia Pacific have been investing heavily in infrastructure development, including transportation, energy, and construction projects. AC drives are widely used in infrastructure applications, such as elevators, escalators, pumps, and ventilation systems. The rapid urbanization in the region has driven the need for motor control solutions, contributing to the dominance of the AC drives market.
  • The adoption of industrial automation and Industry 4.0 principles is on the rise in APAC. As industries seek to improve efficiency, productivity, and quality, they turn to AC drives for precise motor control. The automotive, electronics, and food processing industries, among others, heavily rely on automation systems that incorporate AC drives.
  • APAC has become a global product manufacturing hub, including consumer electronics, automobiles, and machinery. These manufacturing facilities require AC drives to control motors in production lines and ensure consistent product quality.

COVID-19 Impact Analysis on AC Drives Market

The COVID-19 pandemic had a significant impact on the AC drives market. The pandemic disrupted global supply chains, leading to delays in producing and delivering AC drive components and equipment. Manufacturers faced challenges in sourcing raw materials and components, which affected their ability to meet demand. Many industries and businesses postponed or canceled capital expenditure projects during the pandemic due to economic uncertainty. This affected the demand for AC drives, particularly in the construction, manufacturing, and infrastructure development sectors. Various industries, including automotive manufacturing and some construction projects, temporarily shut down operations in response to lockdowns and social distancing measures. This led to reduced demand for AC drives during the shutdown periods.

Top Key Players Covered AC Drives Market

  1. Rockwell Automation, Inc. (USA)
  2. Emerson Electric Co. (USA)
  3. Parker Hannifin Corporation (USA)
  4. TMEIC Corporation (USA)
  5. ABB (Switzerland)
  6. Siemens AG (Germany)
  7. Invertek Drives Ltd. (United Kingdom)
  8. Control Techniques (Nidec Corporation) (United Kingdom)
  9. Lenze SE (Germany)
  10. Schneider Electric SE (France)
  11. Bonfiglioli Riduttori S.p.A. (Italy)
  12. Danfoss Group (Denmark)
  13. Mitsubishi Electric Corporation (Japan)
  14. Eaton Corporation plc (Ireland)
  15. Yaskawa Electric Corporation (Japan)
  16. Fuji Electric Co., Ltd. (Japan)
  17. Hitachi, Ltd. (Japan)
  18. Nidec Corporation (Japan)
  19. Toshiba Corporation (Japan)
  20. Delta Electronics, Inc. (Taiwan)
  21. Vacon (Nidec Corporation) (Finland)
  22. Hiconics Drive Technology Co., Ltd. (China)
  23. Hyosung Heavy Industries Corporation (South Korea)
  24. LS Electric (South Korea)
  25. WEG S.A. (Brazil)

Key Industry Developments in the AC Drives Market

In May 2023, ABB announced the opening of its manufacturing plant in Peenya, located in Bengaluru, India which will produce a new line of variable frequency drives. This factory will produce and offer drives ranging from 75 kW to 250 kW along with will catering to the major industrial segments. The expansion will strengthen the company's domestic supplier eco-system for low voltage AC drives product portfolio and enhance its market position across the AC drives industry.

In May 2023, Emotron Drives Power Control LLC, part of CG Drives & Automation inaugurated a new manufacturing facility in UAE. This state-of-the-art production plant will manufacture AC drives and will further enable shorter delivery times of high-powered variable frequency drives. This expansion will expand the company's market presence across the region and is set to enhance its position across the AC dives industry.

Global AC Drives Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 24.22 Bn.

CAGR:

8.2 %

Market Size in 2032:

USD 49.23 Bn.

Segments Covered:

By Voltage

  • Low Voltage
  • Medium Voltage
  • High Voltage

By Power Voltage

  • Low Power
  • Medium Power
  • High Power

By Application

  • Pump
  • Fan
  • Conveyor
  • Compressor
  • Extruders

By End User

  • Oil & Gas
  • Power Generation
  • Food and Beverages
  • Building Automation
  • Mining & Metals
  • Other Industries

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increasing Rate of Industrialization and Urbanization to Fuel the Market

Key Market Restraints:

  • Initial Deployment Cost

Key Opportunities:

  • Increasing Trends for Industrial Automation

Companies Covered in the Report:

  • Rockwell Automation Inc. (USA), Emerson Electric Co. (USA), Parker Hannifin Corporation (USA), TMEIC Corporation (USA) ABB (Switzerland), and Other Major Players.

Chapter 1: Introduction
ā€ƒ1.1 Research Objectives
ā€ƒ1.2 Research Methodology
ā€ƒ1.3 Research Process
ā€ƒ1.4 Scope and Coverage
ā€ƒā€ƒ1.4.1 Market Definition
ā€ƒā€ƒ1.4.2 Key Questions Answered
ā€ƒ1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
ā€ƒ3.1 By Power Rating
ā€ƒ3.2 By Application

Chapter 4: Market Landscape
ā€ƒ4.1 Porter's Five Forces Analysis
ā€ƒā€ƒ4.1.1 Bargaining Power of Supplier
ā€ƒā€ƒ4.1.2 Threat of New Entrants
ā€ƒā€ƒ4.1.3 Threat of Substitutes
ā€ƒā€ƒ4.1.4 Competitive Rivalry
ā€ƒā€ƒ4.1.5 Bargaining Power Among Buyers
ā€ƒ4.2 Industry Value Chain Analysis
ā€ƒ4.3 Market Dynamics
ā€ƒā€ƒ4.3.1 Drivers
ā€ƒā€ƒ4.3.2 Restraints
ā€ƒā€ƒ4.3.3 Opportunities
ā€ƒā€ƒ4.5.4 Challenges
ā€ƒ4.4 Pestle Analysis
ā€ƒ4.5 Technological Roadmap
ā€ƒ4.6 Regulatory Landscape
ā€ƒ4.7 SWOT Analysis
ā€ƒ4.8 Price Trend Analysis
ā€ƒ4.9 Patent Analysis
ā€ƒ4.10 Analysis of the Impact of Covid-19
ā€ƒā€ƒ4.10.1 Impact on the Overall Market
ā€ƒā€ƒ4.10.2 Impact on the Supply Chain
ā€ƒā€ƒ4.10.3 Impact on the Key Manufacturers
ā€ƒā€ƒ4.10.4 Impact on the Pricing

Chapter 5: AC Drives Market by Power Rating
ā€ƒ5.1 AC Drives Market Overview Snapshot and Growth Engine
ā€ƒ5.2 AC Drives Market Overview
ā€ƒ5.3 Low Power Drives
ā€ƒā€ƒ5.3.1 Introduction and Market Overview
ā€ƒā€ƒ5.3.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ5.3.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ5.3.4 Low Power Drives: Geographic Segmentation
ā€ƒ5.4 Medium Power Drives
ā€ƒā€ƒ5.4.1 Introduction and Market Overview
ā€ƒā€ƒ5.4.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ5.4.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ5.4.4 Medium Power Drives: Geographic Segmentation
ā€ƒ5.5 High Power Drives
ā€ƒā€ƒ5.5.1 Introduction and Market Overview
ā€ƒā€ƒ5.5.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ5.5.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ5.5.4 High Power Drives: Geographic Segmentation

Chapter 6: AC Drives Market by Application
ā€ƒ6.1 AC Drives Market Overview Snapshot and Growth Engine
ā€ƒ6.2 AC Drives Market Overview
ā€ƒ6.3 Pumps
ā€ƒā€ƒ6.3.1 Introduction and Market Overview
ā€ƒā€ƒ6.3.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ6.3.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ6.3.4 Pumps: Geographic Segmentation
ā€ƒ6.4 Fans
ā€ƒā€ƒ6.4.1 Introduction and Market Overview
ā€ƒā€ƒ6.4.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ6.4.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ6.4.4 Fans: Geographic Segmentation
ā€ƒ6.5 Compressors
ā€ƒā€ƒ6.5.1 Introduction and Market Overview
ā€ƒā€ƒ6.5.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ6.5.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ6.5.4 Compressors: Geographic Segmentation
ā€ƒ6.6 Other
ā€ƒā€ƒ6.6.1 Introduction and Market Overview
ā€ƒā€ƒ6.6.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ6.6.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ6.6.4 Other: Geographic Segmentation

Chapter 7: Company Profiles and Competitive Analysis
ā€ƒ7.1 Competitive Landscape
ā€ƒā€ƒ7.1.1 Competitive Positioning
ā€ƒā€ƒ7.1.2 AC Drives Sales and Market Share By Players
ā€ƒā€ƒ7.1.3 Industry BCG Matrix
ā€ƒā€ƒ7.1.4 Heat Map Analysis
ā€ƒā€ƒ7.1.5 AC Drives Industry Concentration Ratio (CR5 and HHI)
ā€ƒā€ƒ7.1.6 Top 5 AC Drives Players Market Share
ā€ƒā€ƒ7.1.7 Mergers and Acquisitions
ā€ƒā€ƒ7.1.8 Business Strategies By Top Players
ā€ƒ7.2 ABB LTD. (SWITZERLAND)
ā€ƒā€ƒ7.2.1 Company Overview
ā€ƒā€ƒ7.2.2 Key Executives
ā€ƒā€ƒ7.2.3 Company Snapshot
ā€ƒā€ƒ7.2.4 Operating Business Segments
ā€ƒā€ƒ7.2.5 Product Portfolio
ā€ƒā€ƒ7.2.6 Business Performance
ā€ƒā€ƒ7.2.7 Key Strategic Moves and Recent Developments
ā€ƒā€ƒ7.2.8 SWOT Analysis
ā€ƒ7.3 DANFOSS GROUP (DENMARK)
ā€ƒ7.4 MITSUBISHI ELECTRICAL CO. (JAPAN)
ā€ƒ7.5 SCHNEIDER ELECTRIC CO. (FRANCE)
ā€ƒ7.6 SIEMENS AG FUJI ELECTRIC CO. LTD. (JAPAN)
ā€ƒ7.7 EMERSON ELECTRIC CO. (UNITED STATES)
ā€ƒ7.8 HICONICS DRIVE TECHNOLOGY CO. LTD. (CHINA)
ā€ƒ7.9 HITACHI LTD. (JAPAN)
ā€ƒ7.10 PARKER HANNIFIN CO. (INDIA)
ā€ƒ7.11 ROCKWELL AUTOMATION INC. (UNITED STATES)
ā€ƒ7.12 OTHER MAJOR PLAYERS

Chapter 8: Global AC Drives Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ8.1 Market Overview
ā€ƒ8.2 Historic and Forecasted Market Size By Power Rating
ā€ƒā€ƒ8.2.1 Low Power Drives
ā€ƒā€ƒ8.2.2 Medium Power Drives
ā€ƒā€ƒ8.2.3 High Power Drives
ā€ƒ8.3 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ8.3.1 Pumps
ā€ƒā€ƒ8.3.2 Fans
ā€ƒā€ƒ8.3.3 Compressors
ā€ƒā€ƒ8.3.4 Other

Chapter 9: North America AC Drives Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ9.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ9.2 Impact of Covid-19
ā€ƒ9.3 Key Players
ā€ƒ9.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ9.4 Historic and Forecasted Market Size By Power Rating
ā€ƒā€ƒ9.4.1 Low Power Drives
ā€ƒā€ƒ9.4.2 Medium Power Drives
ā€ƒā€ƒ9.4.3 High Power Drives
ā€ƒ9.5 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ9.5.1 Pumps
ā€ƒā€ƒ9.5.2 Fans
ā€ƒā€ƒ9.5.3 Compressors
ā€ƒā€ƒ9.5.4 Other
ā€ƒ9.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ9.6.1 U.S.
ā€ƒā€ƒ9.6.2 Canada
ā€ƒā€ƒ9.6.3 Mexico

Chapter 10: Europe AC Drives Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ10.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ10.2 Impact of Covid-19
ā€ƒ10.3 Key Players
ā€ƒ10.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ10.4 Historic and Forecasted Market Size By Power Rating
ā€ƒā€ƒ10.4.1 Low Power Drives
ā€ƒā€ƒ10.4.2 Medium Power Drives
ā€ƒā€ƒ10.4.3 High Power Drives
ā€ƒ10.5 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ10.5.1 Pumps
ā€ƒā€ƒ10.5.2 Fans
ā€ƒā€ƒ10.5.3 Compressors
ā€ƒā€ƒ10.5.4 Other
ā€ƒ10.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ10.6.1 Germany
ā€ƒā€ƒ10.6.2 U.K.
ā€ƒā€ƒ10.6.3 France
ā€ƒā€ƒ10.6.4 Italy
ā€ƒā€ƒ10.6.5 Russia
ā€ƒā€ƒ10.6.6 Spain
ā€ƒā€ƒ10.6.7 Rest of Europe

Chapter 11: Asia-Pacific AC Drives Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ11.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ11.2 Impact of Covid-19
ā€ƒ11.3 Key Players
ā€ƒ11.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ11.4 Historic and Forecasted Market Size By Power Rating
ā€ƒā€ƒ11.4.1 Low Power Drives
ā€ƒā€ƒ11.4.2 Medium Power Drives
ā€ƒā€ƒ11.4.3 High Power Drives
ā€ƒ11.5 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ11.5.1 Pumps
ā€ƒā€ƒ11.5.2 Fans
ā€ƒā€ƒ11.5.3 Compressors
ā€ƒā€ƒ11.5.4 Other
ā€ƒ11.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ11.6.1 China
ā€ƒā€ƒ11.6.2 India
ā€ƒā€ƒ11.6.3 Japan
ā€ƒā€ƒ11.6.4 Singapore
ā€ƒā€ƒ11.6.5 Australia
ā€ƒā€ƒ11.6.6 New Zealand
ā€ƒā€ƒ11.6.7 Rest of APAC

Chapter 12: Middle East & Africa AC Drives Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ12.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ12.2 Impact of Covid-19
ā€ƒ12.3 Key Players
ā€ƒ12.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ12.4 Historic and Forecasted Market Size By Power Rating
ā€ƒā€ƒ12.4.1 Low Power Drives
ā€ƒā€ƒ12.4.2 Medium Power Drives
ā€ƒā€ƒ12.4.3 High Power Drives
ā€ƒ12.5 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ12.5.1 Pumps
ā€ƒā€ƒ12.5.2 Fans
ā€ƒā€ƒ12.5.3 Compressors
ā€ƒā€ƒ12.5.4 Other
ā€ƒ12.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ12.6.1 Turkey
ā€ƒā€ƒ12.6.2 Saudi Arabia
ā€ƒā€ƒ12.6.3 Iran
ā€ƒā€ƒ12.6.4 UAE
ā€ƒā€ƒ12.6.5 Africa
ā€ƒā€ƒ12.6.6 Rest of MEA

Chapter 13: South America AC Drives Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ13.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ13.2 Impact of Covid-19
ā€ƒ13.3 Key Players
ā€ƒ13.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ13.4 Historic and Forecasted Market Size By Power Rating
ā€ƒā€ƒ13.4.1 Low Power Drives
ā€ƒā€ƒ13.4.2 Medium Power Drives
ā€ƒā€ƒ13.4.3 High Power Drives
ā€ƒ13.5 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ13.5.1 Pumps
ā€ƒā€ƒ13.5.2 Fans
ā€ƒā€ƒ13.5.3 Compressors
ā€ƒā€ƒ13.5.4 Other
ā€ƒ13.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ13.6.1 Brazil
ā€ƒā€ƒ13.6.2 Argentina
ā€ƒā€ƒ13.6.3 Rest of SA

Chapter 14 Investment Analysis

Chapter 15 Analyst Viewpoint and Conclusion

Global AC Drives Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 24.22 Bn.

CAGR:

8.2 %

Market Size in 2032:

USD 49.23 Bn.

Segments Covered:

By Voltage

  • Low Voltage
  • Medium Voltage
  • High Voltage

By Power Voltage

  • Low Power
  • Medium Power
  • High Power

By Application

  • Pump
  • Fan
  • Conveyor
  • Compressor
  • Extruders

By End User

  • Oil & Gas
  • Power Generation
  • Food and Beverages
  • Building Automation
  • Mining & Metals
  • Other Industries

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increasing Rate of Industrialization and Urbanization to Fuel the Market

Key Market Restraints:

  • Initial Deployment Cost

Key Opportunities:

  • Increasing Trends for Industrial Automation

Companies Covered in the Report:

  • Rockwell Automation Inc. (USA), Emerson Electric Co. (USA), Parker Hannifin Corporation (USA), TMEIC Corporation (USA) ABB (Switzerland), and Other Major Players.
Please Wait...

Frequently Asked Questions :

What would be the forecast period in the AC Drives Market research report?

The forecast period in the AC Drives Market research report is 2024-2032.

What are the key players in the AC Drives Market?

Rockwell Automation Inc. (USA), Emerson Electric Co. (USA), Parker Hannifin Corporation (USA), TMEIC Corporation (USA) ABB (Switzerland), Siemens AG (Germany), Invertek Drives Ltd. (United Kingdom), Control Techniques (United Kingdom), Lenze SE (Germany), Schneider Electric SE (France), Bonfiglioli Riduttori S.p.A. (Italy), Danfoss Group (Denmark), Mitsubishi Electric Corporation (Japan), Eaton Corporation plc (Ireland), Yaskawa Electric Corporation (Japan), Fuji Electric Co., Ltd. (Japan), Hitachi, Ltd. (Japan), Nidec Corporation (Japan), Toshiba Corporation (Japan), Delta Electronics, Inc. (Taiwan), Vacon (Nidec Corporation) (Finland), Hiconics Drive Technology Co., Ltd. (China), Hyosung Heavy Industries Corporation (South Korea), LS Electric (South Korea), WEG S.A. (Brazil), and Other Major Player.

What are the segments of the AC Drives Market?

The AC Drives Market is segmented into Voltage, Power Voltage, Application, End User, and region. By Voltage, the market is categorized into Low Voltage, Medium Voltage, and High Voltage. By Power Voltage, the market is categorized into Low Power, Medium Power, and High Power. By Application, the market is categorized into Pumps, Fan, Conveyor, Compressor, and Extruders. By End User, the market is categorized into Oil and gas, Power Generation, Food and Beverages, Building Automation, Mining and metals, and Other Industries. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the AC Drives Market?

An AC drive is a device used to control the speed of an electrical motor to enhance process control. Reduce energy usage and generate energy efficiently. Decrease mechanical stress on motor control applications. Optimize the operation of various applications relying on electric motors.

How big is the AC Drives Market?

The global AC Drives Market size was valued at USD 24.22 Billion in 2023 and is projected to reach USD 49.23 Billion by 2032, growing at a CAGR of 8.2% from 2024 to 2032.