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.
- Rising concentration toward energy efficiency and introduction of energy efficiency levels
- Growing technological advancements with increasing electricity capacity addition
- Growing infrastructural spending in the developing countries
- High cost of investment in the low voltage drives
- High implementations and managing cost of the low voltage drives
- Increase investments in the development of energy-efficient systems
- Increase number of industrial facilities, urban stretches, and commercial premises
- Maintaining the government regulations and norms
- High investment is required to increase infrastructure related to low voltage drives in emerging countries
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 2026. 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.
On 16 November 2020, ABB Electrification Innovation Week will be held from 16 - 20 November, and during the Innovation Week, ABB will launch two revolutionary switchgear and more than 20 digital electrical products to meet customers’ needs. ABB has provided over 5 million interconnected devices and 8,000 control systems to Chinese users, which has laid a solid foundation for ABB to support the digital transformation and upgrading of Chinese customers.
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
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.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Low Voltage Drives Market?
The Low Voltage Drives market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Low Voltage Drives Market?
Top performing companies in the Global Low Voltage Drives market 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), to name a few.
3. What trending factors would impact Low Voltage Drives Market growth most?
"Growing technological advancements and development across small & medium enterprises coupled with ongoing retrofitting activities
" is seen as one of major influencing trends for Low Voltage Drives Market during projected period 2020-2026.