Asia Pacific Low Voltage Drives Market Size, Industry Analysis by Power Range, Technology and Application
Category: #energy-and-environment  By Ronak Bora  Date: 2021-05-28
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Asia Pacific Low Voltage Drives Market Size, Industry Analysis by Power Range, Technology and Application

The Asia Pacific low voltage drives market size to record substantial gains by 2026. Asia Pacific Low Voltage Drives Market is likely to register favorable growth over the forthcoming time period owing to increasing demand for electricity and surging focus towards sustainable energy standards. Rapid commercialization & industrialization together with increasing demand for optimized energy sources will further fuel the industry growth. Strict regulatory policies & norms toward adoption of renewable power infrastructure adoption will foster the product installation.

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Increasing investments toward R&D by small and medium scale enterprises to enhance the applicability, life cycle, and reliability of a product will boost the product outlook. Consequently, rising adoption of low power units across numerous industrial segments including power generation, oil & gas, and food processing will complement revenue growth.

High infrastructure spending and technological advancements are being witnesses across the Asia Pacific. Additionally, the region is also witnessing rising private and public investments in manufacturing facilities and the expansion of the its electrical infrastructure, which would complement the business outlook.

Below are some of the key trends that are shaping the Asia Pacific Low Voltage Drives Market growth:

Growing adoption of AC low voltage drive

Based on drive, the AC low voltage drive segment will witness lucrative growth over the forthcoming time period owing to high-power factor, high reliability, low cost of maintenance, and enhanced energy. Increasing consumption of electricity coupled with surging adoption of heavy load and HVAC&R machineries in the region’s manufacturing plants will propel the product demand. Additionally, increasing private and public investment toward food processing plants will also strengthen the business landscape.

Demand for 2.2-7.4 kW capacity drives

With respect to capacity, the 2.2-7.4 kW capacity drive segment is anticipated to grow on account of quicker development rate, enhanced frequency stability, and overload capacity. Aging power networks’ replacement as well as refurbishment efforts across the commercial sector due to strict building emission norms will drive the industry growth. Higher demand for LV drives across numerous manufacturing segments including oil & gas, textile, and automobile sector is expected in coming years. These product’s also boast of the ability to withstand immense wear & tear, offer high reliability, and consume lower amount of energy, making them more preferred among consumers.

Increasing application scope of conveyor LV drives

In terms of application, the conveyor LV drives industry is slated to witness substantial growth due to low harmonic drives, synchronization of various motors, reduced consumption of power, and regenerative breaking. Continuing technological enhancement across the HVAC sector to accomplish energy efficiency standards will boost the segmental growth. Citing an instance, Eaton Corporation, in 2018, supplied innovative power saving namely PowerXL DH1 drive technology for HVAC&R industry allowing feasible motor performance as well as decreased energy usage.

Increasing electricity demand across India

On the regional front, LV drive market in India is estimated to grow substantially over the forecast time period owing to rising investments in the country’s automotive sector and increasing electricity demand. Improving maritime trade and expanding shipbuilding activities will further favor the product deployment. Paradigm change toward the adoption of variable frequency drives coupled with the increasing applicability of these systems across grinders, evaporators, centrifuges, and pump will positively influence the product installation.

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Hiconics, Schneider Electric, Rockwell Automation, Fuji Electric, Eaton Corporation, Emerson, ABB, CG Power, Hitachi, Johnson Controls, Yaskawa, Mitsubishi, Honeywell, Siemens, Industrial Solutions, Danfoss, and WEG Electric among many others are some of the key market players operating in the Asia Pacific Low Voltage Drives Market. Ongoing strategic mergers & acquisitions, agreements, partnerships among the top manufacturers to deliver feasible and reliable LV drives will fortify the technology adoption.

Table of Contents (ToC) of the report:

Chapter 3.   Asia Pacific Low Voltage Drives Market Trends

3.1.       Industry coverage

3.2.       Industry size & forecast, 2015 – 2026

3.3.       Value chain analysis

3.3.1.        Company product snapshot

3.4.       Innovation landscape

3.5.       COVID-19 impact on the overall industry outlook

3.6.       Regulatory norms & directives

3.7.       Drivers & restraints

3.7.1.        Market drivers

3.7.2.        Market restraints

3.8.       Industry analysis - Porter's

3.9.       Product growth mapping

3.10.     Competitive benchmarking, 2019

3.11.     PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1379/asia-pacific-low-voltage-drives-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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