Asia Pacific Low Voltage Drives Market Value will witness growth on account of increasing focus toward energy efficiency standards along with rising electricity per unit cost. In addition, rapid industrialization & commercialization in line with growing demand for optimized energy sources will boost the industry dynamics. Ongoing technological advancements coupled with growing infrastructural spending will propel the business scenario.
Growing investments toward research and development by small & medium scale enterprises to improve product’s reliability, life cycle and applicability will drive the product demand. Increasing retrofitting & refurbishment across residential, commercial, and industrial establishment along with integration of sustainable technologies will stimulate the industry outlook. High efficiency, dynamic torque regulations and flexible user interface are the few indispensable parameters which will energize the product portfolio. In addition, growing adoption of low power units across various industrial segments including food processing, oil & gas, and power generation will strengthen the industry landscape.
AC low voltage drives market will witness an upsurge on account of high power factor, improved energy efficiency, low maintenance cost and high reliability. Rising electricity consumption along with increasing deployment of HVACr & heavy load machineries across the manufacturing plants will fuel the product demand. Moreover, growing public and private investments toward food processing plants will complement the industry scenario.
< 2.2 kW capacity drives industry is anticipated to grow owing to enhanced overload capacity, faster development rate and frequency stability. Replacement of conventional power networks across residential and commercial sector on account of stringent building emission standards will further escalate the industry growth. Furthermore, capability to withstand mechanical wear, low energy consumption in line with air & water-cooling techniques are key factors which will drive the product demand.
Conveyor LV drives industry is predicted to witness upsurge owing to reduced power consumption, synchronization of multiple motors, regenerative breaking, and low harmonic drives. In addition, ongoing technological enhancement across the HVAC industry to fulfill energy efficiency standards will complement the business potential. For instance, in 2018 Eaton Corporation supplied innovative power saving PowerXL DH1 drive technology for HVAC&R industry enabling feasible motor performance and reduced energy usage.
China low voltage drives market will witness growth on account of rising inclination toward energy efficient devices along with growing regulatory norms to promote renewable power generation sources. For instance, in 2018 Chinese government abandoned 80 forthcoming coal-fired power plants with an aim to incorporate renewable power generation technologies. Optimal space utilization coupled with product flexibility and ability to control high motor speed are the major factors driving the standard voltage drives demand. However, the ongoing COVID-19 outbreak may impact the deployment targets by the end of 2020.
Ongoing mergers and acquisition between the leading manufacturers to provide reliable and feasible LV drives will strengthen the technology adoption. Eminent participants operating across the Asia Pacific LV drives market includes Honeywell, Johnson Controls, ABB, Schneider Electric, Siemens, CG Power and Industrial Solutions, WEG Electric, Fuji Electric, Yaskawa, Danfoss, Hiconics, Hitachi, Eaton Corporation, Rockwell Automation, Mitsubishi, and Emerson.