Asia Pacific AC Drives Market Analysis

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.