North America AC Drives Market - By Voltage (Low, Medium), By Application (Pump, Fan, Conveyor, Compressor, Extruder), By End-Use (Oil & Gas, Power Generation, Mining & Metals, Pulp & Paper, Marine) & Forecast, 2024 - 2032
Description
North America AC Drives Market - By Voltage (Low, Medium), By Application (Pump, Fan, Conveyor, Compressor, Extruder), By End-Use (Oil & Gas, Power Generation, Mining & Metals, Pulp & Paper, Marine) & Forecast, 2024 - 2032
North America AC Drives Market size will grow at 4.3% CAGR between 2024 and 2032, owing to the increasing adoption of automation technologies across industries coupled with rapid advancements in AC drive technology. As industries seek to optimize processes and enhance efficiency, there is a growing demand for AC drives for motor control and process optimization.
With continuous innovations in AC drive technology, including regenerative drives and advanced control algorithms, the market will expand to meet the evolving needs of modern industrial automation. For instance, in October 2023, Sprint Electric introduced its new Generis drive, a regenerative AC drive series, representing the next-generation technology for efficient AC motor control. It offers cost-effectiveness, reliability, energy regeneration, and reduced input current harmonics. The growing emphasis on energy efficiency and sustainability will also favor the market growth.
The North America AC drives market is segmented based on voltage, application, end-use, and country.
By application, the compressor segment will witness a considerable CAGR through 2032, propelled by the widespread utilization of AC drives in compressor applications across various industries, such as manufacturing, oil and gas, and HVAC. AC drives offer precise control over compressor speed for improving energy efficiency and system performance. With the continuous demand for compressed air in industrial processes and HVAC systems, the segment will record steady growth.
Based on end-use, the North America AC drives industry from the oil & gas segment will record significant growth during 2024-2032, driven by extensive for applications, such as pumps, compressors, and conveyors for enhancing operational efficiency and reducing energy consumption. With ongoing exploration and production activities in the oil & gas industry across the region, the demand for AC drives for motor control and process optimization will remain robust
Mexico AC drives market will capture a noteworthy CAGR between 2024 and 2032, fueled by the expanding industrial sector, infrastructure development, and increasing investments in automation technologies. As Mexico emerges as a manufacturing hub for various industries, the demand for AC drives for motor control and energy efficiency will soar in the country.
Table of Contents
175 Pages
- Chapter 1 Methodology & Scope
- 1.1 Market definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid
- 1.4.2.2 Public
- Chapter 2 Industry Insights
- 2.1 Industry ecosystem analysis
- 2.1.1 Vendor matrix
- 2.2 Regulatory landscape
- 2.3 Industry impact forces
- 2.3.1 Growth drivers
- 2.3.2 Industry pitfalls & challenges
- 2.4 Growth potential analysis
- 2.5 Porter's analysis
- 2.5.1 Bargaining power of suppliers
- 2.5.2 Bargaining power of buyers
- 2.5.3 Threat of new entrants
- 2.5.4 Threat of substitutes
- 2.6 PESTEL analysis
- Chapter 3 Competitive Landscape, 2023
- 3.1 Strategic outlook
- 3.2 Innovation & sustainability landscape
- Chapter 4 Market Size and Forecast, By Voltage ('000 Units & USD Million)
- 4.1 Key trends
- 4.2 Low
- 4.3 Medium
- Chapter 5 Market Size and Forecast, By Application ('000 Units & USD Million)
- 5.1 Key trends
- 5.2 Pump
- 5.3 Fan
- 5.4 Conveyor
- 5.5 Compressor
- 5.6 Extruder
- 5.7 Others
- Chapter 6 Market Size and Forecast, By End-Use ('000 Units & USD Million)
- 6.1 Key trends
- 6.2 Oil & gas
- 6.3 Power generation
- 6.4 Mining & metals
- 6.5 Pulp & paper
- 6.6 Marine
- 6.7 Others
- Chapter 7 Market Size and Forecast, By Country ('000 Units & USD Million)
- 7.1 Key trends
- 7.2 U.S.
- 7.3 Canada
- 7.4 Mexico
- Chapter 8 Company Profiles
- 8.1 ABB
- 8.2 Danfoss
- 8.3 Delta Electronics, Inc.
- 8.4 Eaton
- 8.5 Emerson Electric Co.
- 8.6 Fuji Electric Corp. of America
- 8.7 General Electric
- 8.8 Invertek Drives Ltd.
- 8.9 Nidec Motor Corporation
- 8.10 Omron Corporation
- 8.11 PARKER HANNIFIN CORP
- 8.12 Rockwell Automation
- 8.13 Schneider Electric
- 8.14 Siemens
- 8.15 TMEIC
- 8.16 WEG
- 8.17 Yaskawa America, Inc.
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
