AC Drives Market Analysis

AC Drives Market Analysis

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The low voltage segment is anticipated to cross USD 23 billion by 2034. Increased demand for energy-efficient units in the industrial automation sector, driven by stringent government regulations aimed at promoting environmental sustainability is complementing the business landscape. The ability of these to precisely control speed and improve energy efficiency, by adjusting motor speed to match specific application needs, and offer significant benefits to users will augment the product deployment. Furthermore, manufacturers are continuously developing advanced variable frequency drives with integrated sensors and connectivity features to enhance operational efficiency, positively influencing the low voltage AC drives industry dynamics.

The AC drives market from pumps segment is poised to witness a CAGR of over 4% through 2034. The petrochemical industry's increasing need for efficient pumps along with focus on energy savings in power-intensive applications will augment the business landscape. Ongoing technological advancements and stringent regulations toward energy efficiency are driving demand for energy-efficient AC drive systems across pump applications. Shifting inclination toward energy conservation, cost reduction, optimize the performance of industrial equipment, leading to reduced power consumption will further accelerate the product demand.
 

U.S. AC drives market is set to surpass USD 3.6 billion by 2034. Increased spending in manufacturing and the widespread use of high-power equipment has accelerated the demand for motor control solutions, complementing the industry landscape. Ongoing innovations, introduction of stringent regulations by authorities promoting energy efficiency and reducing energy cost are shaping the business dynamics.
 

For instance, in January 2024, The U.S. Department of Energy has introduced new energy efficiency proposals for fans and blowers. These standards cover air circulating fans and general fans and blowers, as required by the Energy Policy and Conservation Act. Moreover, increasing automation across industrial and manufacturing process and growing inclination towards energy efficient technologies is augmenting the North America AC drives industry outlook.