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Low Voltage AC Drives Market Share

Report ID: GMI5773
Published Date: Oct 2024
Report Format: PDF

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Low Voltage AC Drives Market Share

Low Voltage AC Drives Market Company Share Analysis, 2023

The low voltage AC drives industry is led by major players including ABB, Fuji Electric, Eaton, Siemens, and Rockwell Automation, among others. The companies hold a significant market share and actively pursue strategic initiatives to enhance their market position. Their strategies encompass forming partnerships, engaging in collaborations, and executing mergers. Additionally, the manufacturers focus on product innovation and expanding their production capabilities, contributing to the overall industry growth.

Low Voltage AC Drives Market Companies

Major players operating across the industry include:

ABB
Eaton
Emerson Electric
Fuji Electric
General Electric
Hitachi Hi-Rel Power Electronics Private Limited
Johnson Controls
NIDEC CORPORATION
PARKER HANNIFIN
Rockwell Automation
Schneider Electric
Siemens
TMEIC
WEG
YASKAWA ELECTRIC CORPORATION

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The global market size for low voltage AC drives was valued at USD 14.8 billion in 2023 and is expected to reach USD 22.1 billion by 2032, driven by a CAGR of 4.6% from 2024 to 2032.

The low voltage AC drives industry from IE 2 efficiency class is expected to achieve a CAGR of over 6% by 2032, driven by its suitability for applications with mandated energy savings.

The U.S. market is projected to surpass USD 3 billion by 2032, driven by expanding applications in industrial automation and renewable energy sectors.

Major players in the industry include ABB, Eaton, Emerson Electric, Fuji Electric, General Electric, Hitachi Hi-Rel Power Electronics Private Limited, and Johnson Controls.