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Low Voltage Drives Market Report
Low Voltage Drives Market Size, Share, Trend, Forecast, & Industry Analysis
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.
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Low Voltage Drives Market - Snapshot |
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Growth |
4.5% for the next five years |
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Major Power Range |
Micro Voltage |
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Dominant Drive Type |
AC |
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Region with the highest demand |
Asia-Pacific |
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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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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.
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.
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.
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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.
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Low Voltage Drives Market Research Report - Features |
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Market Segmentation |
8 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
15 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The low voltage drives market is segmented into the following categories.
Some of the major players in the low voltage drives market are-
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.
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:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
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 sales@stratviewresearch.com.
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.
Asia-Pacific is expected to remain the largest low voltage drives market during the next five years.
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.
The micro power range segment is expected to remain the dominant power range type in the low voltage drives market.
The AC low voltage drives segment held the largest share of the market in 2019.
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.
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