Home > Semiconductors & Electronics > Automation > Industrial Automation > Low Voltage AC Drives Market

Low Voltage AC Drives Market Trends

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

Download Free Sample

Low Voltage AC Drives Market Trends

The rising adoption of IIoT technologies enhance the functionality and intelligence to AC drives offers real-time data collection and analysis, to have proper maintenance and improving operational efficiency. Ongoing technological advancements coupled with a shift toward sensor-less designs, enhanced control algorithms, and multi-drive systems will further shape the industry landscape. Moreover, the stabilization of global economic growth and manufacturers' heightened emphasis on cost-effectiveness will stimulate product demand.

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.