Market New Research AC Drives Market by Share, Trends, Growth by 2022 | Page 2

consists of a rectifier or converter that converts AC voltage to DC voltage, a DC link, and an inverter that converts DC
voltage back to AC voltage which is fed to the AC motor. Pulse Width Modulation (PWM) VFDs in combination with
Field Oriented Control and Direct Torque Control methods is employed for controlling asynchronous AC machines.
PWM drives also facilitate the operation of multiple motors on a single VFD.
The AC drives market is segmented on the basis of voltage, application, end user industry, power rating, and the
geographical region. The input voltage can low or medium. Applications of AC drives include the control of conveyors,
fans, pumps, compressors, extruders, and others. End user industries include building automation, metals & mining,
oil & gas, power generation, home automation, water & wastewater, food & beverage, chemical & petrochemicals,
and other industries. Classification based on power rating includes low power drives (< 40 kW), medium power drives
(41 – 200 kW), and high power drives (> 200 kW). The geographical regions for this market are Asia Pacific, Europe,
North America, South America, and Middle East & Africa.
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Low voltage AC drives have so far accounted for the largest market share. This can be attributed to the better ROI due
to energy savings and efficient motor control. Consequently, low power AC drives have a chunk of the market share.
But, medium voltage AC drives are expected to lead the market share over the forecast period due to their applications
in kilns, fans, mills & crushers employed in end user industries like metals & mining, cement, water & wastewater,
petrochemicals et al. Utilities also require AC drives to control synchronous machines. AC drives for pumps have so far
lead the market share and are deemed to dominate in the forecast period. Oil & Gas industry is the largest consumer
of AC drives, due to the prolific use of pumps and compressors in this sector, and the need to control them effectively.
But, stagnant Greenfield investments due to falling oil prices are restraining this segment’s growth. Asia Pacific region
has so far held the largest market share and is projected to reach the high
water mark in terms of CAGR in the forecast period; along with Middle East & Africa. This can be attributed to rapid
industrialization and urbanization in emerging markets. China is on the forefront of the current AC drives market. Key
players in the AC drives market are Toshiba, Parker Hannifin, Rockwell Automation, Hitachi, Emerson, Siemens, Fuji
Electric, YASKAWA, WEG, ABB, Danfoss Group, Schneider, Mitsubishi Electrical Co Ltd, Hiconics Drive Technology Co
Ltd.
Market Segment:
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million
USD), market share and gr