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Asia Pacific Low Voltage Drives Market Size

Report ID: GMI5373
Published Date: Jul 2024
Report Format: PDF

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Asia Pacific Low Voltage Drives Market Size

Asia Pacific Low Voltage Drives Market was evaluated at USD 8.7 billion in 2023 and is projected to observe a growth rate of 4.7% between 2024 and 2032. Rapidly increasing demand for effective motor control systems for various manufacturing processes, ongoing technological advancements coupled with favorable government schemes towards the development of smart Artificial Intelligence systems will augment the industry landscape.

Asia Pacific Low Voltage Drives Market

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For instance, in June 2024, The Indian government has launched the National Program on Artificial Intelligence focusing on skill development, data management, and a national AI center to promote responsible AI use in manufacturing and other sectors. Positive inclination toward limiting emissions coupled with rising focus toward increasing energy efficiency across industrial sector will positively influence the business dynamics.

Asia Pacific Low Voltage Drives Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Low Voltage Drives Market Size in 2023:	USD 8.7 Billion
Forecast Period:	2024-2032
Forecast Period 2024-2032 CAGR:	4.7%
2032 Value Projection:	USD 13.1 Billion
Historical Data for:	2021-2023
No. of Pages:	85
Tables, Charts & Figures:	14
Segments covered:	Voltage, Drive, Application, End-Use and Region
Growth Drivers:	Ongoing investment and expenditure for development of advanced industrial infrastructure Favourable regulatory framework and R&D initiatives for deployment of energy efficient systems Rapidly increasing energy demand
Pitfalls & Challenges:	High initial deployment cost

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Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

Asia Pacific low voltage drives market was evaluated at USD 8.7 billion in 2023 and is projected to observe a 4.7% growth rate through 2032, driven by rapidly increasing demand for effective motor control systems for various manufacturing processes.

The low power range low voltage drives segment is set to surpass USD 8 billion by 2032, driven by increased focus on energy efficiency, industrial automation, and technological advancements.

China low voltage drives market held a robust revenue in 2023 and is set to be worth over USD 5.7 billion by 2032, driven by the growing focus toward clean energy generation and increasing industrial investments.

ABB, Beckhoff Automation, Bosch Rexroth (India) Private Limited, CG Power & Industrial Solutions Ltd, Danfoss, Delta Electronics, Inc, Eaton, Emerson Electric Co., Erhardt+Leimer among others.