Asia Pacific Low Voltage Drives Market Analysis

Asia Pacific Low Voltage Drives Market Analysis

The low power range segment is set to surpass USD 8 billion by 2032. Increased focus on energy efficiency, industrial automation, and technological advancements are some of the key parameters augmenting the industry landscape. Rising demand for economical and effective solutions across a variety of industrial applications, and emerging focus on energy efficiency will further influence the product demand. Favorable government initiatives that promote energy efficiency and offer financial benefits to manufacturers who invest in these technologies, further augment the low voltage drives business landscape.
 

AC Drives segment is set to observe over 5% CAGR through 2032. The demand for AC drives has increased as a result of ongoing technological advancements in the industry, such as the addition of smart features, IoT (internet of things) capabilities, and improved performance and functionality. Flourishing investments in industrial automation and implementing Industry 4.0 with improved robotics and technologies has positively influence the industry outlook. These drives are suitable for a variety of applications, including large industrial facilities and small-scale operations, due to their scalability and adaptability which enhances the AC drives market dynamics.
 

China low voltage drives market is set to grow over USD 5.7 billion by 2032. Growing focus toward clean energy generation, increasing industrial investments, and inclination toward decreasing energy consumption have influenced the industry dynamics. Supportive policies that speed up the adoption of Industry 4.0, including automation across multiple manufacturing processes, and industrial development will influence the business landscape. For instance, in March 2024, China has tightened its 2024 energy intensity goal to align with the climate plan, ending in 2025. The National Development and Reform Commission cited encounters in meeting expectations owing to rapid growth in industrial and civil energy consumption. Positive efforts to improve energy efficiency and the increasing uptake of new technologies to enhance manufacturing processes will enhance the business outlook.