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North America AC Drives Market Trends

Report ID: GMI8652
Published Date: Nov 2024
Report Format: PDF

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North America AC Drives Market Trends

North America AC drives industry is anticipated to witness significant growth driven by ongoing technological progress and stringent regulations promoting energy-efficient systems across various industries. Increasing investments in industrial development, supportive government policies, and strict regulations promoting energy efficiency will complement the industry landscape. For instance, in February 2024, the U.S. EPA introduced new emissions standards for heavy-duty vehicles. These standards will apply to vehicles starting with model year 2032 and will begin phasing in from 2027. The phase-in process updates specific GHG standards and fuel efficiency requirements for medium and heavy-duty vehicle engines.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The North American AC drives market was valued at USD 3.6 billion in 2024 and is estimated to grow at a 4.1% CAGR from 2025 to 2034, driven by the rising demand for energy-efficient motor control solutions.

The low voltage segment is anticipated to surpass USD 4.7 billion by 2034, primarily due to increased demand for energy-efficient units in the industrial automation sector, driven by stringent government regulations promoting environmental sustainability.

U.S. AC drives market is set to exceed USD 3.6 billion by 2034, supported by the ongoing development of industrial infrastructure and rising demand for advanced motor control solutions.

Key players in the industry include ABB, Danfoss, Delta Electronics, Eaton, Emerson Electric, Fuji Electric, GE Vernova, Invertek Drives, and Johnson Controls.