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Power Generation Low Voltage AC Drives Market Share

Report ID: GMI7809
Published Date: Jan 2024
Report Format: PDF

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Power Generation Low Voltage AC Drives Market Share

The market is highly fragmented on account of the presence of numerous industry players. Key companies in the market are Siemens, General Electric, ABB, Fuji Electric and Schneider Electric accounted for majority of the market share in the year 2023. Various companies are aiming for partnerships to enhance their geographical expansion and is anticipated to intensify the market competition over the forecast timeframe.

For instance, In May 2023, Emotron Drives Power Control LLC, a subsidiary of CG Drives & Automation, announced the opening of its advanced manufacturing facility in the UAE. This advanced production hub is dedicated to the manufacturing of AC drives, aiming to significantly reduce delivery times for variable frequency drives.

Major players in the market are aiming for strategic activities, leveraging partnerships, expanding facilities, and engaging in mergers and acquisitions. These proactive measures are designed to strengthen their foothold in the market and drive industry growth by pioneering advanced and innovative technologies. This dynamic landscape is characterized by leading companies that are continually innovating and collaborating to shape the future of the power generation low voltage AC drives industry.

Power Generation Low Voltage AC Drives Market Companies

Key players in the industry include:

General Electric
Siemens
ABB
Fuji Electric CO., Ltd.
Schneider Electric
Rockwell Automation
Eaton
Yaskawa Electric Corporation
WEG
Delta Electronics, Inc.
Nidec Industrial Solutions
Danfoss
Sprint Electric Limited
PARKER HANNIFIN CORP
Hitachi Hi-Rel Power Electronics Private Limited
Toshiba International Corporation

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

Power generation low voltage AC drives industry size surpassed USD 2.9 billion in revenue in 2023 and is poised to exhibit 5% CAGR from 2024-2032 driven by the growing investments in renewable energy projects and power generation infrastructure.

Power generation low voltage AC drives industry from the low-powered segment is projected to record 5% CAGR during 2024-2032 due to the growing need for uninterrupted and dependable electricity supply coupled with the implementation of rigorous standards to promote energy efficiency.

Asia Pacific power generation low voltage AC drives industry size was more than USD 1.3 billion in 2023 and is estimated to record notable growth through 2032 attributed to the growing population, and the rising demand for dependable electricity in various emerging countries.

Some of the major power generation low voltage AC drive firms are Eaton, General Electric, ABB, Siemens, Schneider Electric, Fuji Electric CO., Ltd., Rockwell Automation, Yaskawa Electric Corporation, WEG, Danfoss, Delta Electronics, Inc., Nidec Industrial Solutions, and Sprint Electric Limited.