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Asia Pacific AC Drives Market Size

Report ID: GMI11062
Published Date: Aug 2024
Report Format: PDF

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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.

Asia Pacific AC Drives Market

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific AC Drives Market Size in 2023:	USD 7.3 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	5.2%
2024 – 2032 Value Projection:	USD 11.5 Billion
Historical Data for:	2021-2023
No. of Pages:	80
Tables, Charts & Figures:	14
Segments covered:	Voltage, Application, End-Use and Country
Growth Drivers:	Flourishing investments for industrial infrastructure development and focus on energy efficiency Favorable regulatory framework and R&D initiatives for deployment of energy efficient systems
Pitfalls & Challenges:	High initial deployment cost

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Authors: Ankit Gupta, Manish Verma

Frequently Asked Questions (FAQ) :

Asia Pacific AC drives market size exceeded USD 7.3 billion in 2023 and is anticipated to witness 5.2% CAGR from 2024 to 2032 due to rising demand for energy-efficient motor control solutions, driven by technological advancements and the integration of motor control with industrial automation.

The low voltage segment in the Asia Pacific AC drives market is set to exceed USD 10 billion by 2032 led by growing automation across industrial applications, shifting focus on energy efficiency, and ongoing technological advancements for enhanced motor controls.

China AC drives industry size is set to exceed USD 5 billion by 2032 led by rising focus to boost energy efficiency and streamlining operations along with inclinations on energy conservation and emission reduction.

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., and Johnson Controls.