According to the latest report by IMARC Group, titled “ AC Drives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ”, offers a comprehensive analysis of the industry, which comprises insights on market. The AC drives market top companies report also includes competitor and regional analysis, and contemporary advances in the market. The global AC drives market size reached US$ 23.5 Billion in 2022 . Looking forward, IMARC Group expects the market to reach US$ 33.9 Billion by 2028 , exhibiting a growth rate (CAGR) of 6.2% during 2023-2028 .
AC Drives Market Overview:
AC drives, also known as adjustable speed drives (ASDs) or variable frequency drives (VFDs), are electronic devices used to control the torque of alternating current (AC) motors. They are widely employed in various industries and applications to enhance motor performance, energy efficiency, and process control. They are operated by converting the incoming fixed-frequency AC power into variable-frequency AC power.
By adjusting the frequency and voltage supplied to the motor, the torque of the motor can be precisely controlled. This allows for smooth and accurate motor operation, enabling optimized performance and energy savings. One of the key benefits of AC drives is their ability to provide speed control for AC motors, allowing them to operate at different speeds based on the requirements of the application.
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Global AC Drives Industry Trends:
Increasing demand for energy-efficient solutions is a significant driver for the market. AC drives play a crucial role in optimizing motor performance and reducing energy consumption in various industries. As organizations prioritize energy efficiency and sustainability, the adoption of AC drives becomes crucial in achieving these goals, leading to market growth.
Moreover, the growing industrial automation and process control requirements drive the demand for AC drives. In industries, such as manufacturing, HVAC, and water treatment, precise control of motor speed and torque is essential for efficient operation and productivity. AC drives provide the flexibility, accuracy, and automation capabilities required for such applications, thereby influencing the demand on the global level.
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Key Market Segmentation:
Top AC Drives Manufacturers Worldwide:
- ABB Group, Danfoss Group
- Schneider Electric SE
- Siemens AG, Mitsubishi Electric India
- Fuji Electric Co. Ltd., Emerson Electric Co.
- Hitachi Ltd
- Parker-Hannifin Corporation
- Rockwell Automation Inc.
- Toshiba International Corporation
- WEG SA
- Yaskawa Electric Corporation
Breakup by Power Rating:
- Low Power Drives (<40kW)
- Medium Power Drives (41kW – 200kW)
- High Power Drives (>200kW)
Breakup by Voltage:
- Low Voltage
- Medium Voltage
Breakup by Application:
- Pumps
- Fans
- Compressor
- Conveyors
- Extruders
- Others
Breakup by End-Use:
- Food and Beverage
- Water and Wastewater
- HVAC
- Oil and Gas
- Power
- Metal Processing
- chemicals
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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