Global AC Drives Market 2015-2019

Growth opportunities in the global AC drives market

The global AC drives market through market analysis is forecasted to grow at a CAGR of close to 8% until 2019. The global AC drives market is correlated with the growing electric motors market. The electric motor has wider applications such as motor vehicles, household appliances, and aerospace, industrial and other transportation equipment over the mechanical or hydraulic motors. Electric motors are the major consumer of global electricity, which account for around 44% of the global electricity consumption. 

The worldwide investment toward renewable energy is expected to gain immense traction over next four years. The installation of new wind farms and solar parks supplement the demand for wind turbines and solar drives. As these installations require AC drives for reducing energy losses and increasing speed regulations, the demand from the wind and solar energy segment is expected to bring additional revenues for the vendors during the forecast period.

End-user segmentation of the global AC drives market

• F&B
• Water & wastewater
• HVAC
• Power
• Metal processing
• Conveyors
• Textiles
• Others

The food and beverage segment emerged as the market leader in the consumption of AC drives in 2014. However, the key observations made by Technavio’s market research analyst indicates a significant growth in the heating, ventilation, and air conditioning (HAVC) segment of AC drives market 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 AC drives that are advanced and also conforming to EMC standards to be fitted for proper control, creating the need for electric drives.

Segmentation analysis of the global AC drives market by product types

• High-end drives
• Medium range drives
• Low-end drives
• Micro drives

As per the forecast, in 2019, the high-end drives and medium-range drives segments are expected to increase their respective market shares. Increased need for retrofitting and modernization is expected to drive these segments during the forecast period.

Vendor analysis and forecast until 2019

• ABB
• Siemens

Some of the other prominent vendors of the market include Beijing Leader, Schneider, Danfoss, Hiconics, Hitachi, Fuji Electric, Emerson Electric, Toshiba, and Yaskawa America.

ABB is the leader in the low-end drives segment of the global AC and DC drives market. It maintains its leading position with a wide range of products and through several mergers and acquisitions. The company plays a major role in the medium-range drives segment and enhances its product portfolio and technology by investing heavily in R&D activities.

The market vendors are likely to invest in deploying technologies such as mobile apps and software to provide services to their customers. As per this research report, the growing demand for low-end drives is expected to witness a significant jump in developing countries such as China and India, surpassing many advanced nations that have been market leaders in the past.

Key questions answered in the report

• What are the key factors driving the global AC drives market?
• What are the key market trends impacting the growth of the global AC drives market?
• What are the various opportunities and threats faced by the global AC drives market?
• Trending factors influencing the market shares for EMEA, APAC, and Americas?
• Key outcome of the five forces analysis on the global AC drives market?
• Growth forecast of the global AC drives market until 2019?