Global DC Drive Market - Growth, Trends, and Forecast (2018 - 2023)
Due to the surge in power consumption across the world, the global DC drive market is likely to register healthy growth over the forecast period. The market studied is driven by several factors, such as expanding industrial infrastructure and rising electricity consumption. The increasing disposable income and growing per capita consumption of electricity are leading to an increase in global power consumption. Due to its use in electrical vehicles (EV), the popularity of DC drives has increased. With the rise in preference toward eco-friendly travel, a greater demand has been observed for DC motors and subsequently, DC drives. Exceptional torque handling capacity of a DC drive is another critical attribute. The starting and accelerating torque which may reach up to 400%, can be provided by the DC drives. The regeneration of overhauling loads can be performed with DC drives. DC current-based motor is the first motor that was created even before AC motors. The speed of DC motors is directly proportional to the voltage and inversely proportional to the current. Therefore, by controlling the voltage, the DC driver regulates the torque of the DC motor. Through this regulation, it can synchronize the operations of the DC motor and the load. DC drives employ pulse width modulation (PWM) technique, to synchronize the torque and speed. In this process, the voltage is regulated to match the PWM signal.
Expanding Industrial Infrastructure Driving the Market
The booming industrial infrastructure is one of the major drivers of the DC drive market. Industries require regular supply of electricity for their operations. The application of DC drives in the industrial sector is widespread, as most of the equipment are driven by electrical energy. Therefore, the deployment of DC drives is expected to increase, on account of worldwide expansion of industrial infrastructure.
Asia-Pacific Accounts for the Largest Share
Owing to the significant power consumption in the region, Asia-Pacific region accounts for the largest share in the global DC drive market. The growth of industrial infrastructure and rising consumption of electricity in the region are likely to promulgate the demand for DC drive in the region, during forecast period. Moreover, the replacement of old equipment with new ones, is likely to make significant contribution to the market’s growth. China is growing at a robust pace, in terms of augmenting the overall supply of electrical energy, on account of the growing demand in the country. The robust industrial infrastructure and expansion of industries in the country are anticipated to bolster the Chinese segment of the market studied, over the forecast period.
Key Developments in the Market
August 2017: General Electric resumed negotiations to sell its Industrial Solutions business to ABB, after earlier talks paused over the value of the business.
The major players include - Schneider Electric, ABB Ltd, Siemens AG, Kirloskar Electric, Mitsubishi Electric Corporation, Emerson Electric Co., and Crompton Greaves Limited, amongst others.
Reasons to Purchase this Report
Current and future global DC drive market outlook in the developed and emerging markets.
Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
The segment that is expected to dominate the market.
The regions that are expected to witness the fastest growth during the forecast period.
Identify the latest developments and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in excel).
Customization of the Report
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