Global Low Voltage Drives Market Overview:
A low-voltage drive is a drive that covers a voltage range from 100 to 690 Volt and power from a few watts to megawatts. The drive framework is associated with the matrix and produces a 3-stage voltage which is variable in amplitude and recurrence. This empowers control of the electrical engine in torque and speed. Low-voltage drives assist to expand measure usefulness just as energy productivity, and moreover decrease support costs. Low Voltage Drives are broadly utilized in mechanical mechanization applications ranging from small to the largest. Low Voltage Drive (VFD) is a kind of flexible speed drive utilized in electro-mechanical drive frameworks to control AC engine speed and force by changing engine input recurrence and voltage.
As per latest study released by AMA Research, the Global Low Voltage Drives market is expected to see growth rate of 4.7%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing technological advancements and development across small & medium enterprises coupled with ongoing retrofitting activities and The growing integration of low as well as medium energy units on account of easy installation & compact size across various industries
Market Growth Drivers:
Rising concentration toward energy efficiency and introduction of energy efficiency levels, Growing technological advancements with increasing electricity capacity addition and Growing infrastructural spending in the developing countries
Challenges:
Maintaining the government regulations and norms and High investment is required to increase infrastructure related to low voltage drives in emerging countries
Restraints:
High cost of investment in the low voltage drives and High implementations and managing cost of the low voltage drives
Opportunities:
Increase investments in the development of energy-efficient systems and Increase number of industrial facilities, urban stretches, and commercial premises
Competitive Landscape:
The Low Voltage Drives market is operated through a large number of big and small players. The big organizations in the market are concentrated to bring the business operations to their normal operating conditions by following the guideline of the government. Also, companies are using inorganic strategies such as acquisitions, collaborations, and partnerships with the small and medium players in order to expand their business scope.
Some of the key players profiled in the report are ABB (Switzerland), Honeywell International Inc. (United States), Johnson Controls (Ireland), Mitsubishi Electric Corporation (Japan), Nidec Corporation (Japan), Rockwell Automation, Inc. (United States), Schneider Electric (France), Siemens (Germany), Beckhoff Automation (Germany), Bosch Rexroth AG (Germany), Emerson Electric Co. (United States), Fuji Electric Co. Ltd. (Japan), Hiconics Eco-energy (China) and Hitachi Ltd. (Japan). Additionally, following companies can also be profiled that are part of our coverage like CG Power and Industrial Solutions (India), Danfoss (Denmark), Eaton (Ireland), WEG (Brazil) and Yaskawa Electric Corporation (Japan). Analyst at AMA Research see Japan Manufacturers to retain maximum share of Global Low Voltage Drives market by 2030. Considering Market by By System, the sub-segment i.e. Open Loop will boost the Low Voltage Drives market. Considering Market by By End Use, the sub-segment i.e. Automotive will boost the Low Voltage Drives market. Considering Market by By Drives, the sub-segment i.e. AC Drive will boost the Low Voltage Drives market. Considering Market by By Power, the sub-segment i.e. Low will boost the Low Voltage Drives market. Considering Market by By Capacity, the sub-segment i.e. < 2.2 kW will boost the Low Voltage Drives market. Considering Market by By Technology, the sub-segment i.e. Standard will boost the Low Voltage Drives market.
Latest Market Insights:
On 5 March 2021, Siemens Limited has completed the acquisition of India’s C&S Electric’s low voltage switchgear and bus bar. Through this acquisition, the company aims to expand its presence in the country and pave the way for the setting up of a design and manufacturing hub that will support the export of solutions. This acquisition addresses the rising demand for low-voltage power distribution in India.
In March 2021, Schneider Electric launched the Lexium LMD series of variable speed drives, offering compact size and flexible communication options for building automation and HVAC applications.
What Can be Explored with the Low Voltage Drives Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Low Voltage Drives Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Low Voltage Drives
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Low Voltage Drives market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Low Voltage Drives market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes AC drives equipment manufacturing companies, AC drives manufacturers, dealers, and suppliers, Banks, and venture capitalists, Environmental and industrial associations and Financial institutions, and other investors.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.