Asia Pacific AC Drives Market - By Voltage, By Application (Pump, Fan, Conveyor, Compressor, Extruder), By End-Use (Oil & Gas, Power Generation, Food Processing, Automotive, Mining & Metals, Pulp & Paper, Textile, Marine) & Forecast, 2024 – 2032

Asia Pacific AC Drives Market Size

Asia Pacific AC Drives Market Size was valued at over USD 7.3 billion in 2023 and is anticipated to grow a CAGR of 5.2% between 2024 and 2032. Rising demand for energy-efficient motor control solutions, driven by technological advancements and the integration of motor control with industrial automation is set to complement the business landscape.
 

Increasing adoption of efficient motor control units for energy savings, enhanced process control, and prolonged equipment lifespan will positively influence the industry dynamics. Moreover, rising industrialization across emerging nations, adoption of improved manufacturing processes across several industrial sectors and shifting focus on energy efficiency will further bolster the industry outlook.
 

Asia Pacific AC Drives Market Trends

The Asia Pacific AC drives industry is anticipated to witness substantial growth owing to rising demand for electricity capacity expansion driven by rapid accelerated infrastructural expenditure, urbanization and industrial development. For instance. In May 2024, the Japanese Ministry of Trade and Economy unveiled a technology strategy aimed at enhancing energy efficiency and transitioning away from fossil fuels. This strategy outlines crucial technological domains essential for achieving carbon neutrality by 2050. Additionally, the ministry is backing R&D initiatives to promote the commercialization and advancement of emerging technologies. Furthermore, ongoing expansion of clean energy generation, increasing industrial investments, and expenditures for infrastructure development and favorable governmental policies, will drive the industry growth.
 

Asia Pacific AC Drives Market Analysis

The low voltage segment is set to observe significant growth over USD 10 billion by 2032. Growing automation across industrial applications, shifting focus on energy efficiency, and ongoing technological advancements for enhanced motor controls is set to propel the industry growth. Increasing demand for reliable, efficient and cost-effective solutions, emphasis on decreasing energy consumption will further augment the product demand. Moreover, favorable government initiatives, stringent regulatory environment, and financial benefits to manufacturers for investing in enhanced technologies, will positively influence the low voltage AC drives industry outlook.
 

Medium voltage AC drives industry is set to grow, driven by widespread adoption of these units across heavy-duty industrial applications along with growing emphasis on deploying energy-efficient systems, ensuring energy security, and optimizing energy utilization. Furthermore, ongoing technological advancements, enhanced controls for motor operations, along with improved manufacturing and research capabilities, is set to boost the industry landscape.
 

Pump segment is anticipated to witness over 4.5% CAGR through 2032. Rising demand for pumps in the petrochemical sector, Ongoing technological advancements, coupled with stringent regulatory standards for AC drives, are driving the demand for energy-efficient drives. Additionally, advancements in intelligent drive systems, featuring enhanced efficiency, coupled with cost reduction efforts through improved manufacturing processes, will positively influence the industry outlook.
 

China AC drives market is set to grow over USD 5 billion by 2032. Rising focus to boost energy efficiency and streamlining operations along with inclinations on energy conservation and emission reduction will augment the industry landscape. Stringent mandates and targets implemented by the authorities toward decreasing energy consumption and carbon emissions from industries will shape the industry dynamics. For instance, in May 2024, China's State Council unveiled an action plan and sets ambitious targets for 2025 including 13.5% reduction in energy intensity and 18% cut in carbon intensity, aimed at accelerating decarbonization in the power and industrial sectors. Moreover, ongoing digital transformation and industry 4.0 have led to the integration of IoT platforms further complementing the industry outlook.
 

Asia Pacific AC Drives Market Share

Key players in the Asia Pacific AC variable frequency drives industry, including ABB, Yaskawa Electric Corporation, Schneider Electric, Fuji Electric Co. Ltd., Siemens, and GE Vernova, are actively forming strategic alliances and partnerships. These players pursue collaborations, along with introduce innovative technologies, further aim to enhance their competitive edge over the others.
 

Asia Pacific AC Drives Market Companies

Major manufacturers operating across the industry consists of:

• ABB
• Bonfiglioli S.P.A.
• CG Power & Industrial Solutions Ltd.
• Danfoss
• Eaton
• Emerson Electric Co.
• Fuji Electric Co., Ltd.
• GE Vernova
• Hiconics Eco-energy Technology Co., Ltd.
• Hitachi Hi-Rel Power Electronics Private Limited
• Invertek Drives Ltd.
• Johnson Controls
• NIDEC TECHNOMOTOR CORPORATION
• Rockwell Automation
• Schneider Electric
• Siemens
• Teco Electric & Machinery Pte Ltd
• TMEIC
• WEG
• YASKAWA ELECTRIC (SINGAPORE) PTE LTD
   

Asia Pacific AC Drives Industry News

• In February 2024, ABB has unveiled its latest compact drive in India, the ACH180, suitable for HVACR systems. The ACH180 offers precise control over high-efficiency motors while its compact design conserves space, reduces capital expenditure and simplifies commissioning. Targeted at commercial applications such as data centers, shopping malls and hotels, the unit empowers operators to adjust motor speeds in line with HVACR process requirements, moving away from traditional methods that rely on mechanical controls like throttles or dampers.
   
• In August 2023, Invertek Drives Ltd has supplied 11 Optidrive P2 VFDs to PT. Harma Contractor located in Indonesia for a mining project. These VFDs have been integrated into a conveyor system and reclaim feeder breaker, leading to significant advancements in ore transportation and crushing efficiency. Consequently, the mine has seen a boost in productivity, a decrease in energy consumption, and overall heightened operational efficiency. The Optidrive P2 VFDs come equipped with specialized features tailored for the rigorous demands of mining application.
   

The Asia Pacific AC drives market research report includes in-depth coverage of the industry with estimates & forecast in terms of “‘000 Units and USD Million” from 2021 to 2032 for the following segments:

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Market, By Voltage

• Low
• Medium

Market, By Application

• Pump
• Fan
• Conveyor
• Compressor
• Extruder
• Others

Market, By Power Range

• Oil & Gas
• Power generation
• Mining & metals
• Pulp & paper
• Marine
• Others

The above information has been provided for the following countries:

• China
• Japan
• India
• Australia
• South Korea