Key vendors to engage in collaborations to expand their geographical presence
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global electric drives market in their latest research report. This report also lists six other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global electric drives market highly fragmented in nature and is characterized by the presence of both, medium and small-sized vendors. Large vendors are currently offering high-quality, reliable devices with technological advancement. However, the cost of these drives remains very high, and these drives face intense competition from small vendors that provide low-quality products at low cost. The competition in the market is expected to intensify further with the increase in mergers and acquisitions. During the forecast period, large vendors are anticipated to acquire small and medium-sized vendors expand their geographic presence and product portfolios.
According to Bharath Kanniappan, a lead analyst at Technavio for research on automation, “Electric drives need regular maintenance. IIoT technology provides a user-friendly for customers to operate and provides timely information for the maintenance of electric drives. The trend of IIoT integration is expected to continue throughout the forecast period, leading to the growth of the market.”
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Top five vendors in the electric drives market space
ABB
ABB is a global leader in pioneering technology and offers products and solutions to the utility, transportation, and infrastructure industries. The firm is aggressively moving into the industrial digitalization market. ABB also offers a wide range of products in drives systems.
Key products: ACS 310,550,580, ACS 55, ACS 150, ACS 310, and ACS 550,100/140/160.
Danfoss
Danfoss is a world leader in providing technology to diverse industry segments. The company deals with energy efficiency, food supply, modern infrastructure, and climate-friendly solutions. The company also provides services in wind and solar power.
Key products: VLT Automotive Drives FC 301/302, VLT Aqua Drives FC-202, and VLT HVAC Drives FC 102.
Schneider Electric
Schneider Electric engages in the design, engineering, and installation of field devices and components for residential and small buildings, medium and large buildings, and the infrastructure sector. The firm offers automation and control solutions, medium-voltage switchgear, transformers, energy automation products, and electrical products. It also provides installation systems, control products and solutions, building management and security systems, and critical power and cooling systems.
Key products: Altivar 12, Altivar 312, Altivar ATV 312, and Altivar 32.
Siemens
Siemens focuses on the areas such as automation, electrification, and digitalization. The company supplies systems for power generation and transmission and medical diagnosis. In addition, the company specializes in infrastructure and industry solutions.
Key products: SINAMICS G110 D, SINAMICS G120, SINAMICS G120C/D/E, and Robicon W G110M.
Rockwell Automation
Rockwell Automation provides industrial automation solutions through productive and sustainable environments. The company’s products Allen-Bradley and Rockwell Software are acclaimed globally for innovation.
Key products: Altivar 12, Altivar 312, Altivar ATV 312, and Altivar 32.
Ask an analyst to know more about this report
A more detailed analysis is available in the Technavio report, Global Electric Drives Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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