This market research reports presents a segmentation analysis based on product (high-end drives, medium range drives, low-end drives, and micro drives) and end-users (F&B, water & wastewater, HVAC, power, metal processing, conveyors, and textiles). Market shares for the leading regions of the global AC drives market include APAC, EMEA, and Americas. The top manufacturers of AC drives detailed in the report are ABB and Siemens.
Technavio’s research analysts estimate the global AC drives market to grow at a CAGR of around 8% between 2015 and 2019. APAC holds the largest market share in the market covering around 48%, with the major demand coming from China, Japan, and India. The presence of major vendors such as Mitsubishi Electric and Yaskawa in Japan has made the region a key player in the market.
The new market research report from Technavio provides a breakdown and analysis of the AC drives by products and end-users.
The high-end AC drives segment is the major revenue contributor of the market, and is expected to reach over US $8 billion by 2019. Power, infrastructure, oil and gas, and water and wastewater treatment industries are implementing high-end drives on a large scale for energy conservation and sustainability processes.
Technavio’s market research analysts indicate a significant growth in the heating, ventilation, and air conditioning (HAVC) segment during the forecast period. Heightened construction activity in the APAC region is booming the demand for HVACs in commercial and residential buildings. HVAC applications such as cooling tower fans, booster pumps, and condensers require advanced AC drives that conform to EMC standards and can be fitted for proper control.
Global AC drives market in HVAC industry 2014-2019
Source: Technavio Research
“Energy-efficient products and technologies are gaining prominence in the global AC drives market. End-users are increasingly opting out for energy-efficient AC motors to optimize their operations during severe power outages. Process industries are using different types of industrial equipment, such as motors, compressors, pumps, and fans to minimize electricity utilization and operational expenditures,” says Navin Rajendra, Lead Analyst, Industrial Automation, Technavio Research
Leading vendors in the global AC drives market are ABB and Siemens. The market vendors are likely to invest in deploying technologies such as mobile apps and software to provide services to their customers. Moreover, the vendors are investing heavily upgrading their technologies to attract new customers by offering a wide range of products at competitive prices.
A more detailed analysis is available in the Technavio report, Global AC Drives Market 2015-2019: Marker Research Report 2015-2019.
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