The global AC drives market is estimated to expand at 7.05% CAGR during the forecast period.

AC drives are used to control the speed of an electric motor that are used in the electrical products. The speed of the motor is controlled by changing its frequency while the current is passed through the motor. AC drives are primarily used in pumps, conveyors and compressors. They are also used in oil & gas, power generation, food & beverage, metals & mining, water & wastewater, and chemicals & pharmaceuticals sector.

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The growing demand for AC drives market is attributed to the growing industrilization, across the globe and rising need for energy efficient products in oil & gas, power generation, and building automation industries. Countries such as the US, China, and India are continously focusing on investment in advanced technology including industrial Internet of Things (IIoT) to improve the energy efficiency in electrical and electronic components used in building automation and power sector. However, the global AC drives market could be restrained by the cavitation effect in AC drives.

Key Players

The key players of global AC drives market are ABB (Switzerland), Siemens (Germany), Danfoss Group (Denmark), Schneider Electric (France), Rockwell Automation, Inc. (US), 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 (US), Delta Electronics, Inc. (Taiwan), and others..

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Industry Segmentation

Global AC drive market has been segmented based on voltage, power rating (kW), application, end-use, and region. On the basis of voltage, the market is classified into low and medium voltage. Low voltage segment is leading the AC drives market as these drives are mostly used with electric motors and transformers. On the basis of power rating, the market is segmented into low power drives, medium power drives, and high-power drives. On the basis of applications, the market is segmented into pumps, fans, compressors, conveyors and extruders. On the basis of end-use, the AC drives market is segmented into oil & gas, power generation, water & wastewater, building automation, food & beverage, metals & mining, and chemicals & petrochemicals.

Regional Outlook

Region wise, Asia-Pacific held the largest share of the global AC drives market in 2017. It is estimated that Asia-Pacific would be the fastest growing market during the forecast period, mainly due to the industrialization and urbanization. Moreover, the increased demand for energy efficient equipment and supportive government plans are expected to drive the market for AC drives in Asia-Pacific.

Scope of the Report

This report provides an in-depth analysis of the global AC drives market, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East, Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the AC drives market by its voltage, power rating, application, end-user, and by region.

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