AC Drives Market Is Expected To Expand Globally During The Forecast Period 2022
Key drivers for this market are rapid industrialization and urbanization, rising need for energy efficiency, and regulations conducive to the maintenance of energy efficient operations. Burgeoning demand in the automotive aftermarket and automation of remote facilities using Industrial Internet of Things (IIoT) will open new avenues for this market share on the forecast horizon.
Key drivers for this market are rapid industrialization and urbanization, rising need for energy efficiency, and regulations conducive to the maintenance of energy efficient operations. Burgeoning demand in the automotive aftermarket and automation of remote facilities using Industrial Internet of Things (IIoT) will open new avenues for this market share on the forecast horizon.
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<strong>AC</strong> <strong>Drives</strong> <strong>Market</strong> by Share, Trends, Growth,<br />
Type, Proposition and Application <strong>Forecast</strong><br />
to <strong>2022</strong><br />
“Burgeoning demand in the automotive aftermarket and<br />
automation of remote facilities using Industrial Internet of<br />
Things (IIoT) will open new avenues for this market share<br />
on the forecast horizon. But the fact that this a<br />
fragmented market due to stiff competition from local<br />
regional players, and decline in foreign direct investments<br />
is challenging market growth.”<br />
<strong>The</strong> <strong>AC</strong> <strong>Drives</strong> <strong>Market</strong> is expected to grow at a sizable CAGR over the forecast period. Key drivers for this market are<br />
rapid industrialization and urbanization, rising need for energy efficiency, and regulations conducive to the<br />
maintenance of energy efficient operations. Burgeoning demand in the automotive aftermarket and automation of<br />
remote facilities using Industrial Internet of Things (IIoT) will open new avenues for this market share on the forecast<br />
horizon. But the fact that this a fragmented market due to stiff competition from local regional players, and decline in<br />
foreign direct investments is challenging market growth. It is a horizontal market catering to various downstream<br />
verticals including oil & gas, power generation, home/building automation, water and wastewater, food & beverage,<br />
chemicals & petrochemicals. <strong>Market</strong> ecosystem consists of basic component suppliers (Converters, Inverters,<br />
Transistors, DC rectifiers etc), OEMs, distributors, and end users.<br />
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<strong>AC</strong> drives are VFDs that change voltage and frequency of the supply in order to control the <strong>AC</strong> motor’s speed. Most<br />
popular application of an <strong>AC</strong> drive is the stepless control of a squirrel cage induction motor. An <strong>AC</strong> drive typically
consists of a rectifier or converter that converts <strong>AC</strong> voltage to DC voltage, a DC link, and an inverter that converts DC<br />
voltage back to <strong>AC</strong> voltage which is fed to the <strong>AC</strong> motor. Pulse Width Modulation (PWM) VFDs in combination with<br />
Field Oriented Control and Direct <strong>To</strong>rque Control methods is employed for controlling asynchronous <strong>AC</strong> machines.<br />
PWM drives also facilitate the operation of multiple motors on a single VFD.<br />
<strong>The</strong> <strong>AC</strong> drives market is segmented on the basis of voltage, application, end user industry, power rating, and the<br />
geographical region. <strong>The</strong> input voltage can low or medium. Applications of <strong>AC</strong> drives include the control of conveyors,<br />
fans, pumps, compressors, extruders, and others. End user industries include building automation, metals & mining,<br />
oil & gas, power generation, home automation, water & wastewater, food & beverage, chemical & petrochemicals,<br />
and other industries. Classification based on power rating includes low power drives (< 40 kW), medium power drives<br />
(41 – 200 kW), and high power drives (> 200 kW). <strong>The</strong> geographical regions for this market are Asia Pacific, Europe,<br />
North America, South America, and Middle East & Africa.<br />
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Low voltage <strong>AC</strong> drives have so far accounted for the largest market share. This can be attributed to the better ROI due<br />
to energy savings and efficient motor control. Consequently, low power <strong>AC</strong> drives have a chunk of the market share.<br />
But, medium voltage <strong>AC</strong> drives are expected to lead the market share over the forecast period due to their applications<br />
in kilns, fans, mills & crushers employed in end user industries like metals & mining, cement, water & wastewater,<br />
petrochemicals et al. Utilities also require <strong>AC</strong> drives to control synchronous machines. <strong>AC</strong> drives for pumps have so far<br />
lead the market share and are deemed to dominate in the forecast period. Oil & Gas industry is the largest consumer<br />
of <strong>AC</strong> drives, due to the prolific use of pumps and compressors in this sector, and the need to control them effectively.<br />
But, stagnant Greenfield investments due to falling oil prices are restraining this segment’s growth. Asia Pacific region<br />
has so far held the largest market share and is projected to reach the high<br />
water mark in terms of CAGR in the forecast period; along with Middle East & Africa. This can be attributed to rapid<br />
industrialization and urbanization in emerging markets. China is on the forefront of the current <strong>AC</strong> drives market. Key<br />
players in the <strong>AC</strong> drives market are <strong>To</strong>shiba, Parker Hannifin, Rockwell Automation, Hitachi, Emerson, Siemens, Fuji<br />
Electric, YASKAWA, WEG, ABB, Danfoss Group, Schneider, Mitsubishi Electrical Co Ltd, Hiconics Drive Technology Co<br />
Ltd.<br />
<strong>Market</strong> Segment:<br />
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million<br />
USD), market share and growth rate of <strong>AC</strong> drives in these regions, from 2012 to <strong>2022</strong> (forecast), covering<br />
• North America<br />
• Europe<br />
• China
• Japan<br />
• Southeast Asia<br />
• India<br />
Global <strong>AC</strong> drives market competition by top manufacturers, with production, price, revenue (value) and market<br />
share for each manufacturer; the top players including<br />
• ABB<br />
• Siemens<br />
• Beijing Leader<br />
• Schneider<br />
• Danfoss<br />
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On the basis of product, this report displays the production, revenue, price, market share and growth rate of each<br />
type, primarily split into<br />
• High-end drives<br />
• Medium range drives<br />
• Low-end drives<br />
• Micro drives<br />
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end<br />
users, consumption (sales), market share and growth rate of <strong>AC</strong> drives for each application, including<br />
• F&B<br />
• Water & wastewater<br />
• HV<strong>AC</strong>
• Power<br />
• Metal processing<br />
• Conveyors<br />
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