APAC Low Voltage Drives Market size is anticipated to grow at a significant CAGR from 2021 to 2028, according to a latest forecast report by Graphical Research.
The industry growth is on account of governmental efforts to install energy-efficient equipment and surging deployment of automation technology products. Increasing demand for reliable and continuous power supply to meet the increasing consumption of electricity will augment the business growth. Ongoing R&D activities to develop innovative large-scale water consumption equipment will further escalate the market outlook.
> 500 kW low voltage drives segment is poised to rise substantially between 2021 and 2028 owing to rising cooling requirements and regulatory reforms toward integration of sustainable energy. Commercial infrastructure spending has been booming for the last decade, enabling a persistent positive business landscape. The vital features including low power input, better operation maneuvering, and catering to variable loads will further accelerate this market demand.
The standard segment will gain an outstanding momentum during the forecast timeframe on account of rising private investments in automation of industries and growing infrastructural spending. Variable operation flexibility, easy installation, and low space requirements are some of the key features leading to product deployment. Rising industrialization coupled with extensive funding toward the development of the commercial sector will favor the business scenario.
Browse detailed statistical insights from the report, “Asia Pacific Low Voltage Drives Market Forecast 2028 By Drives (AC, DC, Servo), By Power Range (Micro, Low), By Capacity (<2.2 kW, 2.2-7.4 kW, 7.5-22 kW, 23-75 kW, 76-110 kW, 111-500 kW, >500 kW), By Technology (Standard, Regenerative), By System (Open Loop, Closed Loop), By Application (Pump, Fan, Conveyor, Compressor, Extruder), By End-Use (Oil & Gas, Power Generation, Food Processing, Automotive, Mining & Metals, Pulp & Paper, Textile, Marine), Research Report, Country Outlook (China, Japan, India, Australia, South Korea), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The compressor application segment is estimated to increase exponentially till 2028 attributed to rising population and expansion of cities leading to increasing HVAC system adoption. Changing climatic conditions will lead to an increase in cooling demand, fueling the product penetration. Increasing electricity consumption along with rising consumer focus on capacity expansion of energy storage facilities will energize the industry dynamics.
The power generation segment growth is on account of rising electricity demand and the integration of renewable power sources. Retrofitting of existing power generation units along with the introduction of various energy reforms will further stimulate product adoption. Ongoing government efforts to introduce incentives to establish regional automobile manufacturing hubs and investments to boost domestic manufacturing will augment the market revenue.
The India low voltage drives industry is set to grow rapidly over the projected timeframe owing to the opening of new sectors of the economy for the private sector and technology integration in manufacturing facilities. Favorable government schemes toward limiting carbon emission targets will positively sway the industry potential. Extensive funding by investors toward expansion of the automobile sector and increasing disposable income will boost the market growth.
The APAC low voltage drives market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028 for the following segments:
Asia Pacific Market, By Power Range
Asia Pacific Market, By Capacity
- < 2.2 kW
- 2.2 - 7.4 kW
- 7.5 - 22 kW
- 23 - 75 kW
- 76 - 110 kW
- 111 - 500 kW
- > 500 kW
Asia Pacific Market, By Drive
- IE 1
- IE 2
- IE 3
- IE 4
Asia Pacific Market, By Technology
Asia Pacific Market, By System
Asia Pacific Market, By Application
Asia Pacific Market, By End-Use
- Oil & Gas
- Power Generation
- Food Processing
- Mining & Metals
- Pulp & Paper
The above information has been provided for the following countries:
- South Korea