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AC Drives Market Share

Report ID: GMI5925
Published Date: Nov 2024
Report Format: PDF

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AC Drives Market Share

AC Drives Company Market Share Analysis, 2024

Major AC drives manufacturers are forming strategic partnerships and acquiring companies to boost innovation and strengthen their market positions. These initiatives help them expand product lines, enter new markets, and reach more customers. By combining resources and expertise, firms can develop advanced solutions and offer them to a broader customer base across the industry. Strategic collaboration and consolidation by the companies is reshaping the competitive landscape of the AC drives industry.

AC Drives Market Companies

Major players operating across the industry include:

ABB
Danfoss
Eaton
Emerson Electric
Fuji Electric
GE Vernova
Hitachi Hi-Rel Power Electronics
Johnson Controls
Nidec
Parker Hannifin
Rockwell Automation
Schneider Electric
Siemens
Sprint Electric
TMEIC
WEG
Yaskawa Electric

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of AC drives reached USD 17 billion in 2024 and is set to grow at a 4.4% CAGR from 2025 to 2034, driven by the demand for energy-efficient motor control solutions and technological advancements.

The pumps segment is poised to witness a CAGR of over 4% through 2034, fueled by the petrochemical industrys need for efficient pumps and a focus on energy savings in power-intensive applications.

The U.S. AC drives market is set to surpass USD 3.6 billion by 2034, led by increased spending in manufacturing and the widespread use of high-power equipment.

Major players in the industry include ABB, Danfoss, Eaton, Emerson Electric, Fuji Electric, GE Vernova, Hitachi Hi-Rel Power Electronics, Johnson Controls, Nidec, Parker Hannifin, Rockwell Automation, Schneider Electric, Siemens, Sprint Electric, TMEIC, WEG, and Yaskawa Electric.