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    Low Voltage Drives Market | Covid-19 Impact Analysis

    Low Voltage Drives Market | Covid-19 Impact Analysis

    Low Voltage Drives Market | Covid-19 Impact Analysis
    Report code - SRCE154 Delivery - 2 Weeks
    Low Voltage Drives Market Size, Share, Trend, Forecast, & Industry Analysis 
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    Impact of COVID-19 on Low Voltage Drives Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Low Voltage Drives Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Low Voltage Drives Market Insights

    Low Voltage Drives market is likely to witness a CAGR of 4.5% during the forecast period. The prime factors that are driving the Low Voltage Drives market are rapid industrialization, introduction of energy efficiency standards, surge in electricity prices, and increasing demand for optimized energy.

    Low Voltage Drives Market - Snapshot

    Growth

    4.5% for the next five years

    Major Power Range

    Micro Voltage

    Dominant Drive Type

    AC

    Region with the highest demand

    Asia-Pacific

    Key Players

    Johnson Controls, Honeywell, ABB, Siemens, Schneider Electric, CG Power and Industrial Solutions, Fuji Electric, WEG Electric, Yaskawa, Hiconics, Danfoss, Hitachi, Rockwell Automation, Emerson, Eaton, and Mitsubishi.

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    Market Share Analysis

    Low Voltage Drives Market Share: By Power Range Type

    Based on the power range type, the market is segmented as micro and low. The micro power range segment dominated the market in 2019, and is expected to maintain its position during the forecast period. Expanding infrastructure in developing economies and shifting focus towards renewable source of energy are the major factors driving the micro power range segment.

    Low Voltage Drives Market Share: By Drive Type

    Based on the drive type, the low voltage drives market is segmented as AC, DC, and Servo. The AC low voltage drives segment held the largest share of the market in 2019, and is also expected to witness a healthy growth during the forecast period. AC low voltage drive features low maintenance cost, improved energy efficiency and high reliability.

    Low Voltage Drives Market Share: By Region

    In terms of regions, Asia-Pacific is estimated to be the largest market for low voltage drives during the forecast period. China, Japan, South Korea, Taiwan, and India are the largest consumer of low voltage drives in the region. Significant economic development in the region is paving the path of industrial and power sector leading to higher demand for low voltage drives in the region. North America and Europe are also expected to witness a healthy demand for low voltage drives during the forecast period.

    Some of the major players in the low voltage drives market are Johnson Controls, Honeywell, ABB, Siemens, Schneider Electric, CG Power and Industrial Solutions, Fuji Electric, WEG Electric, Yaskawa, Hiconics, Danfoss, Hitachi, Rockwell Automation, Emerson, Eaton, and Mitsubishi.

     

    Market Scope & Segmentation

    Low voltage drives control the speed and motor torque by altering input frequency of electro-mechanical motors. These drives have power rating of <2 kW to >500 kW range. Low voltage drives vary the output speed of motor without using mechanical pullers, hence reducing the quantity of mechanical components and overall maintenance required. Low voltage drives can be categorized by power range into micro and low. On the basis of drive type, the market is segmented as AC, DC, and Servo. Based on the technology type, the market is segmented as standard and regenerative. On the basis of system type, market is segmented into open loop and closed loop. Major applications in which low voltage drives are used include pump, fan, conveyer, compressor, extruder, and others. Low voltage drives serve key industries such as oil & gas, power generation, food processing, automotive, mining & metals, pulp & paper, textile, marine, and others

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Low Voltage Drives Market Research Report - Features

    Market Segmentation

    8

    Regions Covered

    4

    Countries/Sub-Regions Covered

    15

    No. of Figures & Tables

    >150

    Company Profiles

    10

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    The low voltage drives market is segmented into the following categories. 

    Low Voltage Drives Market Size, Share, & Forecast, by Power Range Type:

    • Micro (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Low (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Low Voltage Drives Market Size, Share, & Forecast, by Capacity Type:

    • <2.2 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 2.2-7.4 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 7.5-22 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 23-75 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 76-110 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 111-500 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • >500 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Low Voltage Drives Market Size, Share, & Forecast, by Drive Type:

    • AC
      • Regional Analysis (North America, Europe, Asia-Pacific, and RoW)
      • Type Analysis (IE1, IE2, IE3, IE4, and Others)
    • DC (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Servo (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Low Voltage Drives Market Size, Share, & Forecast, by Technology Type:

    • Standard (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regenerative (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Low Voltage Drives Market Size, Share, & Forecast, by System Type:

    • Open Loop (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Closed Loop (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Low Voltage Drives Market Size, Share, & Forecast, by Application Type:

    • Pump (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Fan (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Conveyor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Compressor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Extruder (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Low Voltage Drives Market Size, Share, & Forecast, by End-Use Industry Type:

    • Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Power Generation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Food Processing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Mining & Metals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pulp & Paper (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Textile (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Low Voltage Drives Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

     

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the end-use industry types by technology type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    Frequently Asked Questions (FAQs)

    What will be the growth of Low Voltage Drives Market in the foreseeable future?

    Driven by the factors like rapid industrialization & introduction of energy efficiency standards, the low voltage drives market is expected to witness an impressive growth of 4.5% CAGR in the foreseeable future.

    Which country/region is expected to remain the largest Low Voltage Drives Market?

    Asia-Pacific is expected to remain the largest low voltage drives market during the next five years.

    Who are the key players in the Low Voltage Drives Market?

    Johnson Controls, Honeywell, ABB, Siemens, Schneider Electric, CG Power and Industrial Solutions, Fuji Electric, WEG Electric, Yaskawa, Hiconics, Danfoss, Hitachi, Rockwell Automation, Emerson, Eaton, and Mitsubishi are among the key players in the low voltage drives market.

    Which power range type is expected to remain dominant in the Low Voltage Drives Market?

    The micro power range segment is expected to remain the dominant power range type in the low voltage drives market.

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