AC Drives Market is estimated to grow from US$ XX Bn in 2019 to US$ XX Bn by 2027, at a CAGR 6.85% from 2019-2027. The report has analyzed the drivers, restraints, and challenges facing the AC drives market. AC drive is equipment that is utilized to manage the momentum of an electrical machine. The speed of an electrical machine is managed by transforming the frequency of the power flowing throughout the motor with the help of these drives. These drives are basically utilized in industries, like power generation, food and beverage, Chemicals and Pharmaceuticals, and Metals and Mining. Market Dynamics Major factors such as quick industrialization and developing GDP in the nation, mainly in China and India are introducing a chance to different AC Drive producers as these drives are positioned with conveyors and compressors that are being utilized in a different production functioning and industrial implementation, operating the AC drives market. Furthermore, governments around the world are concentrating on lowering the energy utilization in the industries and households by motivating them to utilize energy preservation methods.AC drives provide a complete solution for energy consumption by enhancing the planning of the machines utilizing AC Power. This will increase the growth of AC drives market. As per the World Nuclear Association, nuclear power plants are utilizing more advanced nuclear power reactors for the security and dependability of the operation. These reactors will have energetic systems and more pumps, which will function on AC drives. Market Segmentation The AC Drives market is divided on the basis of by Voltage (Low and Medium), by Power rating (Low, Medium, and High), by Application (Pump, Fans, Extruders and Conveyors), by End Use (Oil and Gas, Metals and Mining, Food and Beverages, and Power Generation), and by Region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America). Low voltage segment is dominating the AC Drives market as these drives are mainly utilized with electrical machines and transformers. The rising application of compressors into various implementations has made it the quickest developing segment in the market. Compressors also influence the largest market share and will remain control in the near future. AC drives can improve the energy utilization and simultaneously help in depletion of functioning costs by tracking the speed and torque of electrical machines. Depletion in energy utilization and the profit from expanding the life of electrical devices make AC drives to have worldwide implementations in industries like oil and gas mining, water and wastewater. Regional Analysis On the basis of region, AC Drives market is divided into North America, Europe, Middle East and Africa, and Latin America. Asia Pacific is estimated to be the dominating region in the AC drives market. Due to the advancement in the technology and usage in the power and automation sector had developed the market in this region. Government around the region are influencing on lowering the energy utilization in industries and households by motivating them to utilize energy conservation methods.AC drives provide a complete solution for energy security by enhancing the productivity of the machines utilizing AC Power. This will increase the development of AC drives market. Europe and North America is the second largest region in the AC Drives market because of the usage of the AC drives. Furthermore increasing implementations in the Industrial internet of things will allow development chance in the AC Drives market. Target Group • Environmental and industrial associations • AC drives equipment producing companies • Government and research organization • Market research and consulting companies • AC drives dealers, producers, and suppliers. Key Development ABB (Switzerland) and Siemens AG (Germany) are utilizing advanced technologies like Industrial Internet of things which will provide chance of growth for the AC Drives market. The objective of the report is to present a comprehensive analysis of the AC Drives Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding AC Drives Market dynamics, structure by analyzing the market segments and projects the AC Drives Market size. Clear representation of competitive analysis of key players By Voltage, price, financial position, Product portfolio, growth strategies, and regional presence in the AC Drives Market make the report investor’s guide. ”
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Scope of AC Drives Market
AC Drives Market, By Voltage
- Low • Medium
AC Drives Market, By Power Rating
- Low • Medium • High
AC Drives Market, By Application
- Pumps • Fans • Extruders • Conveyors
AC Drives Market, By End Use
- Oil and Gas • Metals and Mixing • Food and Beverages • Power Generation
AC Drives Market, By Region
- North America • Europe • Asia Pacific • Middle East and Africa • Latin America
AC Drives Market, key players
- ABB (Switzerland) • Siemens (Germany) • Danfoss Group (Denmark) • Schneider Electric (France) • Rockwell Automation, Inc.(U.S) • Mitsubishi Electric Corporation (Japan) • Yaskawa Electric Corporation (Japan) • WEG (Brazil) • Toshiba International Corporation (Japan) • Hiconics Drive Technology Co. Ltd (China) • Hitachi Ltd. (Japan) • Parker Hannifin Co. (U.S) • Delta Electronics, Inc. (Taiwan)
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