Low Voltage AC Drives Market Foresees Steady 5% CAGR Growth, Targeting USD 25.33 Bn by 2029
The Low Voltage AC Drives market was valued at USD 18 billion globally in 2022. Forecasts for the market show a consistent upward trend, with the industry expected to generate USD 25.33 billion in sales by 2029 at a Compound Annual Growth Rate (CAGR) of 5%.
Variable frequency drives (VFDs), commonly referred to as low voltage AC drives, are essential for automating and managing electric motors. The market for low voltage AC drives is expected to grow as sustainability and energy efficiency gain more attention. Low voltage AC drive usage is expected to be fueled by the development of industrial automation and the application of Industry 4.0 ideas.
Low voltage AC drives Market Report Scope and Research Methodology
The global Low voltage AC drives Market is the subject of a recent report from Maximize Market Research. The report offers a thorough overview of the market, including trends in the industry (global and regional) and historical performance of the Low voltage AC drives market. It is based on substantial primary and secondary research. A thorough study of the Low voltage AC drives market, including market size, growth forecasts, trends, and complete future roadmaps, is provided in the Low voltage AC drives market report. In order to fully portray the competitive environment of the worldwide market, it also provides strategic profiling of important Low voltage AC drives market players.
A thorough analysis of the market competitive landscape, major players, brands, and new product releases in the Low voltage AC drives industry is included in this study, along with information on acquisitions, mergers, and joint ventures. Additionally, it offers details on market dynamics, drivers, capacity, and industry trends and changes, assisting Low voltage AC drives industry specialists in staying current with the most recent advancements and sector performance. The market share growth between 2022 and 2029 is also forecasted in the report.
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The primary aim of the study is to present a thorough examination of the Low voltage AC drives market, incorporating perceptive viewpoints, particulars, and industry-verified statistics. By recording and projecting data for different end-user sectors and their applications into the future, the MMR analyst was able to determine the size of the worldwide Low voltage AC drives market using a bottom-up methodology.
Low voltage AC drives Market Regional Insights
The study is divided into many important nations and provides information on the size, growth rate, import and export of the Low voltage AC drives market in each of these nations. The following nations and regions are included in the report:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
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Low voltage AC drives Market Segmentation
Through Application Fans and pumps are essential parts of many industries, such as manufacturing, water treatment, and HVAC systems. Industries that prioritize environmental rules and sustainability stand to gain from the usage of low voltage AC drives in their pumps and fans. Precise control is necessary for material handling systems and conveyors to maximize the flow of materials and products. Conveyor systems are able to respond to changing loads with ease thanks to low voltage AC drivers. In sectors like manufacturing and oil & gas, compressors are essential. Low voltage AC drives give extruders and mixers in the plastics and food processing sectors excellent control. Mixers and extruders are able to adjust to various material properties, providing the best extrusion and mixing for a range of uses.
by Application
Pumps and Fans
Conveyors and Material Handling
Compressors
Extruders and Mixers
by End User
Manufacturing
HVAC and Building Automation
Water and Wastewater Treatment
Low voltage AC drives Market Key Players
1. Mitsubishi Electric Corporation
2. ABB
3. Siemens
4. Beckhoff Automation
5. Emerson Electric Co.
6. Eaton
7. Hitachi, Ltd.
8. Johnson Controls
9. NIDEC CORPORATION
10. Honeywell International Inc
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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