AC Drives Market worth 22.07 Billion USD by 2021, at a CAGR of 7.0%

The low voltage AC drives segment is expected to dominate the AC drives market during the forecast period. The AC drives market has also been segmented based on power rating into three segments: low (below 40 kW), medium (41 – 200 kW), and high (above 200 kW). Demand from building automation, food & beverage, oil & gas, construction, and pulp & paper industries will drive the low power AC drives market during the forecast period.

The global "AC Drives Market" is projected to grow at a CAGR of 7.0% from 2016 to 2021, to reach a market size of USD 22.07 Billion by 2021. This growth is attributed to the increasing urbanization & industrialization, rising need for energy efficiency, and regulations on energy efficiency.

Oil & Gas segment is expected to hold the largest share of the AC drives market, by End-Use Industry, during the forecast period

The oil & gas industry led the overall AC drives market in 2015. AC drives are mostly used to control the speed of pumps and compressors used in the oil & gas industry. Most processes in oil & gas industries are complex and operate at varying operating conditions. AC drives control the speed effectively and reduce energy consumption at a large scale.

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Low power drives is expected to hold the largest market share of the AC drives market, by Power Rating, during the forecast period

The low power drives is expected to hold the largest market of the global AC drives market during the forecast period. The demand for low power drives is driven from industries such as building, automation, oil & gas, food & beverage, and pulp & paper among others. Low power drives also offer quick pay back periods due to higher energy savings with low capital costs and better process control with increased motor control.

Asia-Pacific is the fastest growing market for AC drives

In this report, the AC drives market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Asia-Pacific is expected to be the fastest growing market for AC drives. Rising need for energy efficiency and rapid industrialization in the region will drive the Asia-Pacific AC drives market from 2016 to 2021.

Target Audience:

• AC drives manufacturers, dealers, and suppliers
• AC  drives equipment manufacturing companies
• Government and research organizations
• Environmental and industrial associations
• Banks, venture capitalists, financial institutions, and other investors
• Market research and consulting firms

Major End–Use Industry:

• Oil & Gas
• Water & wastewater
• Power generation
• Building Automation
• Food & Beverage
• Metals & Mining
• Chemicals & Petrochemicals
• Other industries

some of the Leading Players in the AC drives market. These players include ABB Ltd. (Switzerland), Siemens AG (Germany), Danfoss Group (Denmark), Schneider Electric SE (France), Rockwell Automation, Inc. (U.S.), Mitsubishi Electric Co. (Japan), and Yaskawa Electric Corporation (Japan).