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APAC Low Voltage Drives Market to Record an Exponential CAGR by 2026

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According to the Graphical Research new growth forecast report titled “Asia Pacific Low Voltage Drives Market Size 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 Drive (AC, DC, Servo), 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), Industry Analysis Report, Country Outlook (China, Australia, India, Japan, South Korea), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” to Record an Exponential CAGR by 2026.

Asia Pacific Low Voltage Drives Market Value is projected to grow on account of increasing inclination toward sustainable energy standards coupled with rising electricity demand. Rapid urbanization in line with growing adoption of optimized energy sources will further drive the industry dynamics. Stringent regulatory norms & policies toward adoption of renewable power infrastructure will positively influence the business scenario Ongoing technological enhancements along with increasing smart city infrastructural investments will further fuel the industry dynamics.

Rapid industrialization followed by rising demand for energy efficient devices will strengthen the industry landscape. Increasing public and private funding across manufacturing facilities coupled with expansion of electrical infrastructure will complement business outlook. Dynamic torque regulations, flexible user interface, long belt life and soft starting & smooth reversing are the key parameters which will strengthen the product portfolio.

Growing investments toward R&D sector by small and medium scale enterprises to improve product’s life cycle, reliability and applicability will propel the product demand. Increasing refurbishment and retrofitting across industrial, commercial and residential establishment will complement the industry outlook. Rising focus toward deployment of renewable power technologies with an aim to achieve clean energy targets will fuel the industry scenario. High efficiency, variable & accurate speed control and flexible user interface are the major factors which will complement the product deployment.

2.2-7.4 kW capacity drive are estimated to grow on account of faster development rate, enhanced overload capacity, and frequency stability. Replacement and refurbishment of aging power networks across the commercial sector owing to stringent building emission norms will fuel the industry growth. In addition, low energy consumption, high product reliability and ability to withstand mechanical wear & tear are the key factors driving the product demand. Moreover, rising low voltage drives demand across various manufacturing segments including automobile, textile, and oil & gas sector will boost the industry landscape.

India low voltage drive market is anticipated to grow on account of rising electricity demand along with increasing investments toward automotive sector. In addition, growing shipbuilding activities coupled with improving maritime trade will encourage the product deployment. Paradigm shift toward adoption of variable frequency drives along with growing applicability of these systems across pump, centrifuges, evaporators and grinders will positively influence the product demand.

Ongoing strategic partnerships and agreements among the leading manufacturers to deliver high efficiency low voltage drives will strengthen the product portfolio. Eminent players operational across Asia Pacific Low Voltage Drives Market includes ABB, Schneider Electric, Honeywell, Johnson Controls, Fuji Electric, Siemens, WEG Electric, Hiconics, Yaskawa, Danfoss, Rockwell Automation, Hitachi, Eaton Corporation, Mitsubishi, CG Power and Industrial Solutions and Emerson.