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(IT-NEWSWIRE.COM, March 06, 2018 ) Global AC Drives Market By Power Rating (Low Power Drives (40 kW), Medium Power Drives (41-200 kW), High Power Drives (200 kW)), Voltage (Low Voltage, Medium Voltage), Application (Conveyors, Extruders, Pumps, Fans, Compressor), End User (Building Automation, Food & Beverage, Metals & Mining, Chemicals & Petrochemicals, Oil & Gas, Water & wastewater, Power generation), and Regional Market Size, Status and Forecast to 2025
The Global AC Drives Market was valued at USD 15.75 billion in 2016 and is projected to reach USD 29.01 billion by 2025, growing at a CAGR of 7.02% from 2017 to 2025.
An AC Drive is a device that is used to control the speed of an electrical motor. The speed is controlled by changing the frequency of the electrical supply to the motor. Benefits of AC Drive include – controlled starting current, reduced power line disturbances, lower power demand on start, controlled acceleration, adjustable operating speed, controlled stopping, energy savings, and elimination of mechanical drive components.
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Alternate Current (AC) drives are electronic devices that alternates with voltage, frequency & magnetic flux to regulate the speed & torque of an electric motor. In an energy intensive sector optimal usage of energy and efficient utilization of its consumption is important for managing the overall operating costs of that industry. AC drives can optimize the energy usage and at the same time help in reduction of operative costs by monitoring the speed and torque of electric motors. Reduction in energy usage and the gain from extending the life of electrical equipment make AC drives to have widespread applications in industries such as water & wastewater, oil & gas and mining. The primary reasons leading to growth of AC drives market includes increasing technological improvement in drives market, and improvised application of this product in various industries. This market is expected to register healthy growth due growing usage of AC drives across globe.
Increasing urbanization & high industrialization growth rate across the globe are the primary aspects that is driving faster adoption of this product. Diverse processes for earning energy efficiency along with rising need for energy optimizations in different industrial processes are the key factors that are boosting the market growth. Although the reduction in the foreign direct investment in this sector is a key restrictive factor deterring the growth of this market. Also, there is a vast growth opportunities of this market in the auxiliary market. Moreover, increasing applications in Industrial Internet of Things (IIoT) will provide growth opportunities for the AC drives market. The major manufacturers have consolidated power in the market but in recent period various local vendors are developing new products in this market which is expected to offer stiff competition to the big market players is a key market challenge to be overcome by key market players to gain stronghold in the market.
The major factors driving the growth of AC drives market are increased electricity prices, rising demand for energy and electricity, stringent regulations imposed by government in order to cut down the carbon emissions during the consumption and production of electricity, and industrialization & increasing urbanization. In U.S., AC drives market demand has been reasonably strong relatively to other region, with advancement in applications such as fans, compressor, and pumps. Moreover, wide range of increasing popularity of Industrial Internet of Things (IoT) and opportunity in the replacement sector is further boosting the growth of AC drives market. Though, AC drives market growth is expected to decline due to reduction in Greenfield investment. Additionally, growing competition within the local companies’ outlooks a significant restrain for the growth of this AC drives market.
The key players operating in the global AC drives market are ABB Ltd., Siemens AG, Danfoss Group, Schneider Electric SE, Yaskawa America, Inc., Rockwell Automation, Inc., Mitsubishi Electric Corporation, Fuji Electric Co. Ltd, and Emerson Electric Co., among others.
Research Methodology:
Research study on the Global AC Drives Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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About Us:
Key Market Insights is a stand-alone organization with a solid history of advancing and exchanging market research reports and logical surveys delivered by our numerous transnational accomplices, which incorporate both huge multinationals and littler, more expert concerns.
Key Market Insights
sambit kumar
8007533694
sambit.kumar@kminsights.com
Source: EmailWire.Com 
Source: EmailWire.com
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