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Automotive Low Voltage Drives Market Share

Report ID: GMI7996
Published Date: Feb 2024
Report Format: PDF

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Automotive Low Voltage Drives Market Share

The automotive low voltage drives industry includes a wide range of manufacturers and suppliers competing to provide efficient, reliable, and cost-effective solutions. The ongoing efforts by major industry players to develop and introduce innovative technologies deigned to deliver consistent & reliable performance across diverse operating conditions will play a pivotal role in shaping the market rivalry. For instance, in June 2023, OMRON Corporation introduced a new range of integrated global AC drives solution called OMRON M1 enabling a wide spectrum of motors to relate to the drive system. The new product is designed to deliver various advantages including innovative system integration capabilities, optimized flexibility, enhanced efficiency, and compact size, among others. Moreover, the competitive dynamics are significantly shaped by the influence of various factors including technological advancements, energy efficiency requirements, stringent manufacturing standards, and customized user requirements.

Automotive Low Voltage Drives Market Companies

The key market players operating across the industry include:

ABB
Danfoss
Eaton
Emerson Electric Co.
Fuji Electric Co., Ltd.
General Electric
Infineon Technologies AG
Kostal Industrie Elektrik GmbH & Co. KG
MAHLE GmbH
NIDEC CORPORATION
OMRON Corporation
Renesas Electronics Corporation
Rockwell Automation
Schneider Electric
WEG
Yaskawa America, Inc.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

Market size for automotive low voltage drives was evaluated at over USD 2.4 billion in 2023 and is set to grow at a rate of 4.5% through 2032, owing to the rising concerns related to the GHG and carbon emissions, along with the growing sales of vehicle fleet backed by favorable incentives.

AC low voltage drives accounted for about 75.3% revenue share in 2023 and is projected to grow through 2032, backed by the ongoing trend of optimizing motor performance by adjusting speeds based on load requirements.

Asia pacific automotive low voltage drives industry was estimated at over USD 1.1 billion in 2023 and is projected to expand significantly through 2032, on account of the transition toward low carbon mobility, coupled with the rising investments to boost the manufacturing capabilities.

ABB, Danfoss, Eaton, Emerson Electric Co., Fuji Electric Co., Ltd., General Electric, Infineon Technologies AG, Kostal Industrie Elektrik GmbH & Co. KG, MAHLE GmbH, NIDEC CORPORATION, and OMRON Corporation among others.