
Global Electric Drives Facts and Figures
Description
Global Electric Drives Facts and Figures
The global electric drives market is expected to grow at a compound annual growth rate (CAGR) of 3.3% from 2024 to 2029, reaching a value of USD 14,159.2 million in 2029.
The market is categorized by product type, including AC drives, DC drives, and servo drives. In 2023, the AC drives segment dominated the market, with a projected valuation of USD 12,229.0 million by 2029. The servo drives segment is anticipated to exhibit the highest CAGR of 4.0% during the forecast period from 2024 to 2029.
When considering the global electric drives market in terms of revenue and broken down by low-voltage electric drives and medium-voltage electric drives, the total revenue of the low-voltage electric drives segment is expected to reach USD 11,512.6 million in 2029, with a CAGR of 3.4% from 2024 to 2029.
The global electric drives market can be divided into various industries including oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R, paper, discrete manufacturing, and others. The discrete manufacturing segment is projected to reach USD 2,066.2 million by 2029, representing a CAGR of 4.2% over the forecast period from 2024 to 2029.
In terms of geography, Asia-Pacific emerged as the dominant player in the electric drives market in 2023, followed by Europe and North America. The valuation of North America is projected to reach USD 3,883.4 million by 2029, while the Asia-Pacific region is anticipated to exhibit a higher CAGR of 4.1% during the forecasted period from 2024 to 2029.
Key players in the global electric drives market include Siemens AG, ABB, Ltd., Danfoss A/S, Schneider Electric SE, Shanghai Electric Group Co., Ltd., Toshiba Corporation, WEG SA, and Yaskawa Electric Corporation. According to Tanalyze Ltd.'s report, these top companies collectively held over 75% of the market share in 2022, highlighting their significant influence within the industry.
This study aims to analyze the global market for various segments of electric drives, including:
Product Type: AC Drives, DC Drives, and Servo Drives.
Voltage: Low-voltage Electric Drives and Medium-voltage Electric Drives.
End-User: Oil & Gas, Petrochemicals, Power Generation, Minerals, Water Treatment, Food & Beverages, HVAC-R, Paper, Discrete Manufacturing, and Others.
Region: North America (USA, Canada, and Mexico), Europe (Germany, Italy, Russia, United Kingdom, France, Poland, Sweden, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Thailand, and Rest of Asia Pacific), Latin America (Brazil, Chile, Colombia, and Latin America), and MEA (Saudi Arabia, UAE, Iran, Turkey, South Africa, and Rest of MEA).
Table of Contents
138 Pages
- FIGURES AND TABLES
- Part 1. Key Findings
- Part 2. Scope and Methodology
- Report Scope
- Product Type
- Voltage
- End-User
- Region
- Research Methodology
- Part 3. Electric Drives Market Overview
- Summary
- Introduction
- Part 4. Global Electric Drives Market by Product Type
- AC Drives Market by End-User
- DC Drives Market by End-User
- Servo Drives Market by End-User
- Part 5. Global Electric Drives Market by Voltage
- Part 6. Global Electric Drives Market by End-User
- Part 7. Global Electric Drives Market by Region
- Part 8. North America Electric Drives Market
- Market by Product Type
- AC Drives Market by End-User
- DC Drives Market by End-User
- Servo Drives Market by End-User
- Market by Voltage
- Market by End-User
- Market by Country
- Market by Competitors
- Part 9. Europe Electric Drives Market
- Market by Product Type
- AC Drives Market by End-User
- DC Drives Market by End-User
- Servo Drives Market by End-User
- Market by Voltage
- Market by End-User
- Market by Country
- Market by Competitors
- Part 10. Asia Pacific Electric Drives Market
- Market by Product Type
- AC Drives Market by End-User
- DC Drives Market by End-User
- Servo Drives Market by End-User
- Market by Voltage
- Market by End-User
- Market by Country
- Market by Competitors
- Part 11. Latin America Electric Drives Market
- Market by Product Type
- AC Drives Market by End-User
- DC Drives Market by End-User
- Servo Drives Market by End-User
- Market by Voltage
- Market by End-User
- Market by Country
- Market by Competitors
- Part 12. MEA Electric Drives Market
- Market by Product Type
- AC Drives Market by End-User
- DC Drives Market by End-User
- DC Drives Market by End-User
- Servo Drives Market by End-User
- Market by Voltage
- Market by End-User
- Market by Country
- Market by Competitors
- Part 13. Competitive Analysis
- Competition Overview
- Siemens AG
- Business Overview
- Contact Information
- ABB, Ltd.
- Business Overview
- Contact Information
- Danfoss A/S
- Business Overview
- Contact Information
- Schneider Electric SE
- Business Overview
- Contact Information
- Rockwell Automation, Inc.
- Business Overview
- Contact Information
- Nidec Corporation
- Business Overview
- Small Precision Motors
- Contact Information
- Yaskawa Electric Corporation
- Business Overview
- Contact Information
- WEG SA
- Business Overview
- Contact Information
- Shanghai Electric Group Co., Ltd.
- Business Overview
- Contact Information
- Toshiba Corporation
- Business Overview
- Contact Information
- Disclaimer
- FIGURES AND TABLES
- Global Electric Drives Market, Net Growth, 2020-2029 (USD Million)
- Global Electric Drives Market by Product Type, 2020-2029 (USD Million)
- Global Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
- Global AC Electric Drives Market by End-User, 2020-2029 (USD Million)
- Global AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Global DC Electric Drives Market by End-User, 2020-2029 (USD Million)
- Global DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Global Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
- Global Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Global Electric Drives Market by Voltage, 2020-2029 (USD Million)
- Global Electric Drives Market by Voltage, CAGR Historic and Forecast, 2020-2029
- Global Electric Drives Market by End-User, 2020-2029 (USD Million)
- Global Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Global Electric Drives Market Share by Region, 2023
- Global Electric Drives Market by Region, 2020-2029 (USD Million)
- Global Electric Drives Market by Region, CAGR Historic and Forecast, 2020-2029
- North America Electric Drives Market by Product Type, 2020-2029 (USD Million)
- North America Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
- North America AC Electric Drives Market by End-User, 2020-2029 (USD Million)
- North America AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- North America DC Electric Drives Market by End-User, 2020-2029 (USD Million)
- North America DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- North America Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
- North America Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- North America Electric Drives Market by Voltage, 2020-2029 (USD Million)
- North America Electric Drives Market by Voltage, CAGR Historic and Forecast, 2020-2029
- North America Electric Drives Market by End-User, 2020-2029 (USD Million)
- North America Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- North America Electric Drives Market Share by Country, 2023
- North America Electric Drives Market Share (%) by Competitors, 2022
- Europe Electric Drives Market by Product Type, 2020-2029 (USD Million)
- Europe Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
- Europe AC Electric Drives Market by End-User, 2020-2029 (USD Million)
- Europe AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Europe DC Electric Drives Market by End-User, 2020-2029 (USD Million)
- Europe DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Europe Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
- Europe Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Europe Electric Drives Market by Voltage, 2020-2029 (USD Million)
- Europe Electric Drives Market by Voltage, CAGR Historic and Forecast, 2020-2029
- Europe Electric Drives Market by End-User, 2020-2029 (USD Million)
- Europe Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Europe Electric Drives Market Share by Country, 2023
- Europe Electric Drives Market Share (%) by Competitors, 2022
- Asia Pacific Electric Drives Market by Product Type, 2020-2029 (USD Million)
- Asia Pacific Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
- Asia Pacific AC Electric Drives Market by End-User, 2020-2029 (USD Million)
- Asia Pacific AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Asia Pacific DC Electric Drives Market by End-User, 2020-2029 (USD Million)
- Asia Pacific DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Asia Pacific Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
- Asia Pacific Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Asia Pacific Electric Drives Market by Voltage, 2020-2029 (USD Million)
- Asia Pacific Electric Drives Market by Voltage, CAGR Historic and Forecast, 2020-2029
- Asia Pacific Electric Drives Market by End-User, 2020-2029 (USD Million)
- Asia Pacific Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Asia Pacific Electric Drives Market Share by Country, 2023
- Asia Pacific Electric Drives Market Share (%) by Competitors, 2022
- Latin America Electric Drives Market by Product Type, 2020-2029 (USD Million)
- Latin America Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
- Latin America AC Electric Drives Market by End-User, 2020-2029 (USD Million)
- Latin America AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Latin America DC Electric Drives Market by End-User, 2020-2029 (USD Million)
- Latin America DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Latin America Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
- Latin America Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Latin America Electric Drives Market by Voltage, 2020-2029 (USD Million)
- Latin America Electric Drives Market by Voltage, CAGR Historic and Forecast, 2020-2029
- Latin America Electric Drives Market by End-User, 2020-2029 (USD Million)
- Latin America Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- Latin America Electric Drives Market Share by Country, 2023
- Latin America Electric Drives Market Share (%) by Competitors, 2022
- MEA Electric Drives Market by Product Type, 2020-2029 (USD Million)
- MEA Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
- MEA AC Electric Drives Market by End-User, 2020-2029 (USD Million)
- MEA AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- MEA DC Electric Drives Market by End-User, 2020-2029 (USD Million)
- MEA DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- MEA Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
- MEA Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- MEA Electric Drives Market by Voltage, 2020-2029 (USD Million)
- MEA Electric Drives Market by Voltage, CAGR Historic and Forecast, 2020-2029
- MEA Electric Drives Market by End-User, 2020-2029 (USD Million)
- MEA Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- MEA Electric Drives Market Share by Country, 2023
- MEA Electric Drives Market Share (%) by Competitors, 2022
- Global Electric Drives Market Share (%) by Competitors, 2022
- Siemens AG Financial Overview (EUR Million)
- Siemens AG Revenue, by Segment, 2022
- Siemens AG Revenue, by Region, 2022
- ABB, Ltd. Financial Overview (USD Million)
- ABB, Ltd. Revenue, by Type, 2022
- ABB, Ltd. Revenue, by Segment, 2022
- ABB, Ltd. Revenue, by Product, 2022
- ABB, Ltd. Revenue, by Region, 2022
- Danfoss A/S Financial Overview (EUR Million)
- Danfoss A/S Revenue, by Segment, 2022
- Danfoss A/S Revenue, by Region, 2022
- Schneider Electric SE Financial Overview (EUR Million)
- Schneider Electric SE Revenue, by Segment, 2022
- Rockwell Automation, Inc. Financial Overview (USD Million)
- Rockwell Automation, Inc. Revenue, by Segment, 2023
- Rockwell Automation, Inc. Revenue, by Type, 2023
- Rockwell Automation, Inc. Revenue, by Region, 2023
- Nidec Corporation Financial Overview (JPY Billion)
- Nidec Corporation Revenue, by Segment, 2023
- Nidec Corporation Revenue, by Region, 2023
- Nidec Corporation Small Precision Motors Revenue (JPY Billion)
- Yaskawa Electric Corporation Financial Overview (JPY Million)
- Yaskawa Electric Corporation Revenue, by Segment, 2023
- Yaskawa Electric Corporation Revenue, by Region, 2023
- WEG SA Financial Overview (BRL Million)
- WEG SA Revenue, by Region, 2022
- WEG SA Domestic Market Revenue, by Segment, 2022
- WEG SA International Market Revenue, by Region, 2022
- Shanghai Electric Group Co., Ltd. Financial Overview (CNY Billion)
- Shanghai Electric Group Co., Ltd. Revenue, by Segment, 2023
- Shanghai Electric Group Co., Ltd. Revenue, by Region, 2023
- Toshiba Corporation Financial Overview (JPY Million)
- Toshiba Corporation Revenue, by Region, 2023
- Toshiba Corporation Revenue, by Segment, 2023
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