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Global AC Drives Market By Power Rating (High, Medium, Low), By Voltage (Low, Medium), By Application (Fans, Pumps, Others), End User (Oil & Gas, Metal & Mining, Others), By Region–Forecast & Opportunities to 2026

The global AC drives market accounted for a value of USD 10.7 billion in 2019. AC drives market is project to grow at a CAGR of 5.5% during forecast period.

COVID-19 has impacted all the businesses over the globe. The AC drives market is impacted due to spread of corona virus across the world. The supply chain of raw materials and finished products is disrupted due to travel restriction and the manufacturing facilities have to shut down due to lockdown in many regions. The demand and adoption of AC drives has witnessed decline during corona period.

Definition:

The Ac drive can be defined as a device which is used to control speed of an electric motor. It controls speed by changing frequency of supply of electricity to the motor. The three-phase voltage in the national electrical grid which is connected to a motor helps in creating a rotating magnetic field within it

Market Dynamics (Drivers/Opportunities):

The industrialization and urbanization is rapidly growing in various regions across the world. Due to rapid industrialization people are adopting various technological advancements and using different methods for smooth functioning of facilities. This drives growth in AC drives market during forecast period.

The demand for energy efficient devices is rising in the world. The awareness about energy conservation is increasing around the globe and various end-user industries are adopting AC drives in their manufacturing industries this is likely to drive growth in AC drives during forecast period.

Market Insights, by Power Rating

On the basis of power rating, the ac drives market is segmented into high power drives, low power drives and medium power drives. The low drives segment is estimated to dominate the market during forecast period. The low drives has wide applications across various verticals such as health & medical care instrument, food processing machine, metal processing machine, printing machine and  fluid machine etc. it is used in fan, crane and pump also. The rapid technological advancement in low power drives is likely to drive growth in this segment during forecast period.

Market Insights, by Voltage Analysis

On the basis of voltage analysis, the AC drives market is segmented into medium voltage and low voltage. The low voltage segment is estimated to lead the market in AC drives during forecast period. The low voltage AC drives has better operating features such as better power factor and availability, small size, low cost and it offers solution for high power application as well as low power application. The adopting and demand for such products is rising and this is likely to drive growth in low voltage AC drives during forecast period.

Market Insights, by End-User

On the basis of end-use, the AC drives market is segmented chemicals & petrochemicals, water & wastewater, metal & mining, building automation, power generation, oil & gas, food & beverages and others. The power generation segment is estimated to hold largest market share during forecast period. The population is rising around world and industrialization is also increasing in various regions over the globe due to this the demand for electricity is increasing which increasing demand for power generation industry. This drives growth in power generation industry during forecast period.

Regional Insights

Asia-Pacific region is estimated to hold largest market share during forecast period. This region is a developing economy and the building infrastructure is growing in this region. Major companies are investing in this region due to which industrialization and commercialization is growing in this region. The government is also taking various initiatives to support this industry and this is likely to drive growth in Asia-Pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in AC drives industry are ABB, Danfoss Group, Schneider Electric, Siemens, Fuji Electric, Emerson, Parker Hannifin, Rockwell Automation, Toshiba International Corp., WEG, Yaskawa Electric Corporation, Hitachi and Mitsubishi Electrical Corp.

Segments Covered in the Report

This report forecasts The Global AC Drives Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global AC drives market report on the basis of power rating, voltage analysis, application and end-users.

AC Drives Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. AC Drives Market, By Power Rating, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • High Power Drives
  • Low Power Drives
  • Medium Power Drives
  1. AC Drives Market, By Voltage Analysis, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Medium Voltage
  • Low Voltage
  1. AC Drives Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Pumps
  • Fans
  • Compressors
  • Conveyors
  • Extrudes
  • Others
  1. AC Drives Market, By End User, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Chemicals & Petrochemicals
  • Water & Wastewater
  • Metal & Mining
  • Building Automation
  • Power Generation
  • Oil & Gas
  • Food & Beverages
  • Others
  1. AC Drives Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Power Rating
    • By Voltage Analysis
    • By Application
    • By End-User
    • By Country
      • USA
        • By End-User
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Power Rating
      • By Voltage Analysis
      • By Application
      • By End-User
      • By Country
        • Brazil
          • By End-User
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Power Rating
        • By Voltage Analysis
        • By Application
        • By End-User
        • By Country
          • UK
            • By End-User
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Power Rating
          • By Voltage Analysis
          • By Application
          • By End-User
          • By Country
            • China
              • By End-User
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Power Rating
            • By Voltage Analysis
            • By Application
            • By End-User
            • By Country
              • Saudi Arabia
                • By End-User
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Mitsubishi Electrical Corp.
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • ABB
    • Danfoss Group
    • Schneider Electric
    • Siemens
    • Fuji Electric
    • Emerson
    • Parker Hannifin
    • Rockwell Automation
    • Toshiba International Corp.
    • WEG
    • Yaskawa Electric Corporation,
    • Hitachi
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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