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Low Voltage Drives Market Size
- Report ID: GMI4148
- Published Date: Jul 2024
- Report Format: PDF
Low Voltage Drives Market Size
Low Voltage Drives Market was evaluated at USD 19.2 billion in 2023 and is anticipated to observe a growth rate of 4.3% through 2032 on account of the significantly rising investments across public & private verticals to boost the energy-efficiency.
Moreover, the growing integration of clean energy networks driven by the stringent standards to maintain the energy efficiency in modern infrastructure will further shape the industry dynamics. For instance, in April 2024, the European Union introduced the EU/2024/1275, an amendment to its Energy Performance of Buildings Directive, aiming to decarbonize the building stock by 2050, boost energy efficiency, and mitigating the GHG emissions by at least 60% by 2030, among other objectives.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Low Voltage Drives Market Size in 2023: | USD 19.2 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.3% |
| 2032 Value Projection: | USD 27.9 Billion |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 120 |
| Tables, Charts & Figures: | 50 |
| Segments covered: | Power Range, Capacity, Drive, Technology, System, Application, End-use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Low Voltage Drives Market Scope
