Asia Pacific Variable Frequency Drives Market Analysis

Asia Pacific Variable Frequency Drives Market Analysis

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Low segment is anticipated to grow over USD 13.7 billion by 2034. Continuous technological advancements, including rapid equipment control activation for motor operations, development in manufacturing processes and increased research capabilities are complementing the business landscape. Paradigm shift towards energy-efficient systems aiming to enhance energy security and optimize usage, positively impacting the business dynamics. Various companies are investing in research and development to comply with regulatory standards, and the implementation of advanced technology-driven systems will augment the low voltage drives industry outlook.
 

AC segment is anticipated to witness a CAGR of over 4.5% till 2034. The increasing demand for consistent and reliable power supply to balance growing electricity consumption, coupled with the implementation of strict energy efficiency regulations, accelerating the product deployment. Ongoing development of industries across emerging nations and manufacturers' focus on cost-effectiveness and efficient motor control solutions are also augmenting product demand. The capacity of these devices to reduce energy consumption and provide financial benefits is significantly shaping the AC drives industry outlook.
 

China variable frequency drives market is set to grow over USD 6.8 billion by 2034. Digital transformation initiatives across various industries, stringent regulations aimed at enhancing energy efficiency and security, and rapidly increasing energy consumption, are contributing to the industry growth. Ongoing expansion of renewable energy production, higher investments in industrial development, favorable government policies, and the increased adoption of industrial automation and robotics have augmented the product demand.
 

Favorable initiatives aimed at reducing energy usage long with stringent regulations focusing on energy efficiency and consumption are also contributing to the industry growth. For instance, in May 2024, The China State Council unveiled a new energy-saving plan for 2024-2025, seeks to speed up progress toward the energy efficiency goals of China's 14th Five-Year Plan. The plan aims to cut energy use per GDP unit by 13.5% from 2020 to 2025. Key focus areas include lowering fossil fuel use, boosting clean energy, and transforming high-energy sectors like steel and transport.