ACドライブ市場規模、シェア、地域別展望、2032年
Market Overview
According to Fortune Business Insight, the global AC drives market size was valued at USD 10.39 billion in 2018 and is expected to reach USD 20.98 billion by 2032, exhibiting a CAGR of 5.15% during the forecast period 2019-2032.
Analysis shows that the use of AC drives is increasing in sectors such as power generation, oil and gas, and manufacturing to control rotating equipment and improve energy efficiency. This trend, coupled with increasing industrialization and urbanization, indicates a strong demand for AC drives worldwide.
Key players profiled in the market report:
- ABB (Zurich, Switzerland)
- Danfoss Group (Nordborg, Denmark)
- Schneider Electric (Rueil-Malmaison, France)
- Siemens (Munich, Germany)
- Fuji Electric (Tokyo, Japan)
- Emerson (Missouri, USA)
- Parker Hannifin (Ohio, USA)
- Rockwell Automation (Wisconsin, USA)
- Toshiba International Corporation (Texas, USA)
- WEG (Santa Catarina, Brazil)
- Yaskawa Electric Corporation (Fukuoka Prefecture)
segment
Wide range of applications will drive growth in the low-power drive segment
Based on power rating, the market is categorized into low-power, medium-power, and high-power drives. The low-power drives segment is expected to account for the majority of the market, owing to their wide range of applications, including fans, pumps, machine tools, and food processing machinery.
Low cost and high availability drive expansion of the low-voltage segment
Based on voltage, the market is categorized into low voltage and medium voltage, with the low voltage segment leading the market due to its small size, excellent power factor, low cost and wide availability from multiple manufacturers.
Multiple industrial applications dominate the market
Based on application, the market is segmented into pumps, conveyors, compressors, electric fans, extruders, and others. Growth in end-user industries such as chemical, mining, and oil & gas is driving the use of pumps and fans, thereby increasing the demand for AC drives.
Increasing demand from power generation will drive end-user growth
Based on end-user, the market is segmented into food & beverage, oil & gas, power generation, building automation, and others. The power generation segment is driving the market, driven by the surge in global power demand.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Scope
The report states:
- Key growth drivers, restraints, opportunities, and potential challenges in the market.
- Comprehensive insights into regional development.
- A list of the major players in the industry.
- Key strategies adopted by market players.
- Latest industry trends include product launches, partnerships, mergers, acquisitions, etc.
Driver and restraints
Accelerating industrialization and urbanization will drive market growth
The significant increase in urbanization and accelerating industrialization are the major factors driving the market. Rising urban population will increase consumer demand, stimulating the manufacturing industry and boosting the demand for AC drives.
Supportive government regulations to foster growth and growing demand for energy optimization
Favorable regulations and supportive government policies, including the ISO 50001 energy management standard, are driving the growth of the manufacturing and building automation industry. The growing demand for energy optimization is also leading to large investments in the market, boosting demand for products.
Regional Insights
Rapid industrialization in China and India drives market growth in Asia Pacific
The Asia Pacific region accounted for a dominant 31.95% share of the AC drives market in 2018 and is expected to continue to grow at a robust pace in the future. The growth of this region is due to rapid industrialization, commercialization, and significant foreign direct investment in developing countries such as China and India.
North America is expected to experience significant growth, fueled by the region's booming oil, gas and mining industries. The US market is forecast to reach an estimated USD 3.56 billion by 2032, driven by demand for energy-efficient systems.
Future Growth of AC Drives Market:
The AC drives market is experiencing strong growth, driven by increasing industrialization, urbanization, and the urgent need for energy efficiency. AC drives play a key role in enabling flexible and energy-efficient solutions in manufacturing and processing sectors by enabling acceleration control, reducing power line disturbances, and lowering energy consumption. The global outlook is positive as key players are making large investments and embracing new technological innovations such as Industrial Internet of Things (IIoT), which are expected to drive the market development.
Competitive environment
Key players shaping market dynamics through innovation and product extensions
Various global companies, such as ABB, Siemens, and Fuji Electric, are participating in this market. These major companies offer a wide range of products, from compact and machine drives to industrial drives with application-specific functions. They are actively developing innovative drive technologies and expanding their product portfolios to meet diverse industrial needs, accelerating market momentum.
Development of major industries
- July 2021: Toshiba Mitsubishi-Electric Industrial Systems Corporation delivered motor drive systems and automation systems to a steel mill in China, improving the mill's various functions and expanding its steel production capacity.
- March 2021: Rockwell Automation has enhanced the security, performance and commissioning capabilities of its PowerFlex AC drives. The drives now include dual Ethernet ports and provide users with insights into smart devices.
- February 2021: Yaskawa Electric Corporation achieves cumulative shipments of 30 million AC drives, reflecting advances in motor control and innovations in drive technology.
