Low Voltage Drives Market Analysis

Low Voltage Drives Market Analysis

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The low voltage drives industry with 7.5 kW - < 22 kW ratings are poised to surpass USD 7.5 billion by 2032 owing to the escalating demand for reliable, high-performance drives, across different building infrastructure along with industrial operations. The devices offer significant advantages including smooth installation, versatile module options, and the ability to regulate frequency fluctuations adding to their adoption potential. Moreover, various industry verticals consisting of food processing, pulp and paper, power generation, textiles, and automotive are pivoting towards energy-efficient solutions further complementing the industry expansion.
 

The low voltage AC drives industry is set to observe a growth rate of over 4% till 2032 driven by the rising consumer interest in renewable energy and the introduction of new highly automated products from the leading industry players. Moreover, the rapid increase in investments in modern electrical infrastructure to meet their escalating energy demands primarily across the developing nations will cater to the industry growth. In addition, the integration of digital and smart technologies including IoT and AI to enable real-time monitoring, predictive maintenance, and improved efficiency has propelled significant advancements in the LV AC drives technology.
 

Asia Pacific low voltage drives market is projected to surpass USD 13 billion by 2032. Continuous product innovations driven by technological expansion in the electrical infrastructure are set to reshape the regional business landscape. The expanding production capabilities of automotive sector, rising energy demand in new manufacturing facilities, and positive outlook to curb the overall, carbon footprint especially across the emerging economies will positively stimulate the Asia Pacific low voltage drives industry.
 

For instance, the Australian government has introduced its Powering Australia stipulating various targets including mitigating energy bills, reduce emissions through clean energy alternatives, and generate employment opportunities. In addition, the administration further confirmed to reduce the emissions by 43% by 2030 while attaining the net zero emissions by 2050.