About AC drive
A drive is an adjustable speed device that regulates the speed and direction of motors; adjustment is done by varying the current flow through motors. Based on the type of current flow, a drive is classified into two: AC drive and DC drive. An AC drive is used to control AC electric motors, while a DC drive is used to control DC electric motors. AC drives are widely used in process industries to increase the energy efficiency of motors.
Technavio's analysts forecast the global AC drives market to grow at a CAGR of 7.54% over the period 2015-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the global AC drives market for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of AC drives in end-user industries.
Technavio's report, Global AC Drives Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; it also covers the landscape of the global AC drives market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Other prominent vendors
Beijing Leader & Harvest Electric TechnologiesDanfoss GroupEmerson ElectricFuji Electric HoldingsHiconics Drive TechnologyHitachiSchneider ElectricToshibaYaskawa America
Key market driver
Growing industrialization and urbanization worldwideFor a full, detailed list, view our report
Key market challenge
Lack of knowledge about benefits of AC drivesFor a full, detailed list, view our report
Key market trend
Government regulations and policies to increase energy efficiencyFor a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2019 and what will the growth rate be?What are the key market trends?What is driving this market?What are the challenges to market growth?Who are the key vendors in this market space?What are the market opportunities and threats faced by the key vendors?What are the strengths and weaknesses of the key vendors?
Technavio Announces the Publication of its Research Report – Global AC Drives Market 2015-2019
Technavio recognizes the following companies as the key players in the Global AC Drives Market: ABB and Siemens
Other prominent vendors in the market are: Beijing Leader, Schneider, Danfoss, Hiconics, Hitachi, Fuji Electric, Emerson Electric, Toshiba and Yaskawa America
Commenting on the report, an analyst from Technavio’s team said: “World energy resources are limited, and most governments are stringent about the use of these resources and their impact on the environment. Consumers are being motivated to utilize products developed using environmentally friendly production processes. The American Council for Renewable Energy and the European Union have planned to utilize 50% renewable energy in their industries by 2050 and 2040, respectively. These strict objectives and rules are pushing industries toward the efficient use of resources and zero waste management. The EU has formulated its own regulations with the need to adhere to energy standards for motors. In addition, the US regulatory bodies are enforcing regulations that require minimum energy efficiency standards. For instance, EU guidelines state that all motors with an output of 0.75-375 kW should have a minimum IE3 level or should meet the IE2 level with a variable speed drive.”
According to the report, the global AC drives market is fueled by a strong demand for energy-efficient products and technologies in industries. The various rules laid down by regulatory bodies, such as the use of higher energy-efficient motors, are pushing end-users to opt for technologies that optimize operations and are energy efficient. Energy-efficient AC motors have gained significant momentum over the last decade as electricity has emerged as a key concern for various industries, especially in developing countries. Therefore, end-users use different types of industrial equipment such as motors, compressors, pumps, and fans to reduce electricity consumption and cut operational expenses.
Further, the report states that the majority of manufacturers have not invested in AC drives technology and controllers for the last four-to-five years due to a lack of knowledge about their benefits.
ABB, Siemens, Beijing Leader, Schneider, Danfoss, Hiconics, Hitachi, Fuji Electric, Emerson Electric, Toshiba, Yaskawa America