Global Low Harmonic Drives Market 2017-2021

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Overview of the global low harmonic drives market

Market research analysts at Technavio predict that the global low harmonic drives market will grow steadily over the next four years and post a CAGR of almost 5% by 2021. This market research analysis identifies the high demand for energy-efficient products as one of the key growth factors for the low harmonic drives market. With the increasing concern for electricity, organizations are leveraging the use of equipment such as motors, compressors, pump, and fans to reduce the consumption of electricity. To effectively limit the use of electricity without compromising the efficiency, the organizations are preferring the usage of low harmonic drives. Moreover, the need for stringent compliance to the guidelines introduced by various regulatory authorities that is compelling end-users to look for advanced technologies to enhance their operations will also trigger the growth of the low harmonic drives market.

In addition to the demand for efficient products, regulations on energy efficiency and the growing concern for renewable energy will also contribute to the growth of the market. To preserve and protect the environment, the government is promoting the use of renewable sources of energy as an alternative to conventional sources. Moreover, the introduction of various regulations on effective waste management will also propel the growth of the market over the next few years.

Competitive landscape and key vendors

The low harmonic drives market is highly fragmented with the presence of well-established players. To retain their respective position in the market, major regional vendors are competing against international vendors based on factors such as quality, durability, reliability, and technological innovations. Moreover, to enhance their market shares, vendors in the market are also engaging in robust innovations and mergers and acquisitions.

The leading vendors in the market are –

• ABB
• Danfoss
• Eaton
• Rockwell Automation
• Schneider Electric

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Market segmentation by end-user and analysis of the low harmonic drives market

• Oil and gas
• Water and wastewater treatment
• Food and beverage
• Mining
• HVAC sector

During 2016, the oil and gas segment dominated the global low harmonic drives market. The expansion in offshore and shale-related explorations will be the major factor creating the demand for low harmonic drives in this segment.

Market segmentation by geography and analysis of the low harmonic drives market

• Americas
• APAC
• EMEA

In terms of geographic regions, EMEA accounted for the major share of the low harmonic drives market during 2016. The growth in the region can be attributed to growth in gasoline consumption, owing to low pump prices and reduction in gasoline and diesel taxes in Europe. Moreover, the presence of hydrocarbon reserves in Russia also fuels the growth of the market in this region.

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Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global low harmonic drives market?
• What are the key market trends impacting the growth of the global low harmonic drives market?
• What are the challenges to market growth?
• Who are the key vendors in the global low harmonic drives market?
• What are the market opportunities and threats faced by the vendors in the global low harmonic drives market?
• Trending factors influencing the market shares in the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global low harmonic drives market?  

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