Global DC Drives Market
Global DC Drives Market was valued US$ XX Mn. in 2020 and is expected to reach US$ XX Mn. by 2026.
DC Drives are electric devices that are primarily used in DC motors to regulate their speed, direction, horsepower, and torque. The regulator monitors armature voltage and reduces the field current when the armature voltage is driven above rated values. Its primary advantages are increased energy savings and reduced motor wear. It is used for variable torque applications in industries such as oil and gas, water and wastewater, and mining.
The report covers the detailed analysis Global DC Drives Market with the classifications of the market on by voltage, by power rating, by end-use and by region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players contribution in it.
The report has profiled twelve key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in APAC region. Major country’s policies about manufacturing and its impact on DC Drivesapplications demand is covered in the report.
Market Dynamics-
DC Drives save design time, panel space and the time and cost of Power Rating sourcing and installation. DC drives include all peripheral power systems integrated into a self-contained package. This package contains the additional Power Ratings within the footprint of the standard drive module and saves significant panel space while reducing complexity and improving the appearance, which acts as a driving factor to the growth of the Global DC Drives Market.
Increasing energy prices and the depletion of fossil fuels have boosted the demand for energy-efficient Voltages like DC Drives. Businesses and consumers can save a substantial amount of money through energy efficiency investments. Many companies have incorporated sustainability as a corporate goal in order to improve their energy efficiency and conservation. High focus on utilizing energy from non-conventional sources because of high technological advancement and cost-efficient energy conservation devices acts as driving factors for the Global DC Drives Market.
Segment analysis-
The report groups the Global DC Drives Market in different segments by voltage, by power rating, by end-use, and by region to forecast the revenues and analyze the market share of each segment over the forecast period.
Global DC Drives Market
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Based on voltage, the Low voltage segment was dominant in 2020 and is expected to command a market share of xx% by 2026. An increase in industrial and processing units has contributed to the growth of the low voltage segment. Low voltage DC drives are extensively used for applications in boring machines, fans, pumps, conveyors, extruders, spindles, etc. The use of medium voltage DC drives is also increasing because of usage in material-handling and packaging equipment, commercial lifts, industrial pumping Voltages, and miniature lathes and mills.
Based on end-user, the oil and gas segment was dominant in 2020 and is expected to command a market share of xx% by 2026. Increased global oil and gas demand has increased the drilling and exploration activities of oil and gas refineries. The use of DC drives in oil and gas includes cranes and trolleys, belts and conveyors, and compressors and pumps. The compressors and pumps use drives to smoothly start the large motors and continuously adjust the speed to control flow.
Based on power rating, the DC drives are segmented into High power drives, Medium power drives and Low power drives. Low power rating drive segment was dominant in 2020 and is expected to command market share of xx% by 2026. Increasing adoption of Low power rating DC drives in small and medium scale industries have contributed to the growth of the segment.
Regional Insights-
APAC is expected to command largest market share of xx% by 2027
Increase in the number of oil and gas refineries because of the increasing need for energy and power generation are the main driving factors for the Global DC Drives Market. Developing and developed economies in APAC like China and India, because of increasing population, industrialization, and urbanization the need for energy and power-efficient Voltages has also increased, which is contributing to the growth of the number of oil & gas refineries in the region.
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By Region
• North America
• Europe
• South America
• MEA
• Asia Pacific
Key Players Covered:
• ABB Ltd.
• Siemens Ag
• Schneider Electric Se
• Rockwell Automation
• Mitsubishi Electric Corporation
• Crompton Greaves Limited
• Toshiba International Corporation Ltd.
• Danfoss Group
• Parker Hannifin Co.
• Emerson Electric Co.
• American Electric Technologies Inc.
• GE Power Conversion.
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