AC Drives Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Voltage (Low Voltage, Medium Voltage); Power Rating (Low Power, Medium Power, High Power); End User (Oil and Gas, Water and Wastewater, Energy and Power, Building Automation, Food and Beverages, Chemicals and Petrochemicals, Other End Users) and Geography
Report Code: TIPRE00015815
| No. of Pages: 150
| Category: Electronics and Semiconductor
| Status: Upcoming
AC drives are being widely used in diverse industry verticals such as building automation, power, oil & gas, and chemicals among many others to control speed of an AC electric motor. AC drives control speed by changing the frequency of electrical supply that is driving the motor. The key advantages offered by AC drives such as energy savings, low motor starting current, easy installation, less noise, and high power factor are diving the demand for these drives across industries.
The "Global AC Drives Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the AC drives market with detailed market segmentation by voltage, power rating, end user, and geography. The report provides key statistics on the market status of the leading AC drives market players and offers key trends and opportunities in the market.
Based on voltage, the global AC drives market is segmented into low voltage and medium voltage.
On the basis of power rating, the market is segmented into low power, medium power, and high power.
Based on end user, the market is segmented into oil and gas, water and wastewater, energy and power, building automation, food and beverages, chemicals and petrochemicals, and other end users.
MARKET DYNAMICS Drivers:
The rising urbanization and industrialization levels in developing regions and growing demand for energy efficient AC motors in industries are the key factors that are driving the growth of global AC drives market.
Rising investments in research and development related to AC drives coupled with increasing government & industry regulations related to energy efficiency are further boosting the growth of AC drives market worldwide.
Increasing prices may hinder the the growth of AC drives market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The AC drives market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the AC drives market in these regions.
IMPACT OF COVID-19 ON AC DRIVES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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The report covers key developments in the AC drives market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from AC drives market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the AC drives market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
Delta Electronics, Inc.
Fuji Electric Co., Ltd.
PARKER HANNIFIN CORP.
Rockwell Automation, Inc.
YASKAWA ELECTRIC CORPORATION
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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The List of Companies
3. Delta Electronics, Inc.
4. Fuji Electric Co., Ltd.
5. General Electric
6. Hitachi, Ltd.
7. PARKER HANNIFIN CORP.
8. Rockwell Automation, Inc.
10. YASKAWA ELECTRIC CORPORATION