The new report by Expert Market Research titled, ‘Global DC Drives Market Size, Share, Price, Report and Forecast 2021-2026’, gives in-depth analysis of the Global DC Drives market, assessing the market based on its segments like Voltage, Power rating, End-Use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026): –
- Forecast CAGR (2021-2026): 7 %
DC drives are used by a number of industrial systems to achieve precise control of machinery. The oil and gas industry is at the forefront of the end-users of DC drives. The speed of compressors and pumps used in the oil and gas industry is tracked using these DC drivers. Mining, power generation, wastewater, metals, textiles, conveyors, and automotive industries are some other popular end-user sectors. The water and wastewater industry is also expected to play an important role in improving the global demand for DC drives due to the rapidly increasing urbanisation in emerging economies around the world.
Industry Definition and Major Segments
DC drives are types of electrical devices used mainly in DC motors by controlling the input ampere or voltage or both to control its speed, direction, horsepower, and torque. The speed of DC motors, field current, and motor flux are regulated by DC drivers. In engines, DC drives are used because these engines use a significant amount of energy that is supplied to businesses and thereby contribute to the company’s operating costs.
On the basis of Voltage, the industry is divided into:
- Low Voltage
- Medium Voltage
On the basis of End-Use, the industry is divided into:
- Oil & Gas
- Water & Wastewater
- Power Generation
- Building Automation
- Food & Beverages
- Metals & Mining
- Chemicals & Petrochemicals
On the basis of Power Rating, the industry is divided into:
- Low Power
- Medium Power
- High Power
On the basis of Region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Some of the variables that forecast the growth of the DC drive market are factors such as frequent starting, braking, reversing, and adjustable speed. The need for the use of DC drives to improve the shelf life of electrical equipment such as DC motors is the key factor in boosting the growth of the demand for DC drives. The high cost of the DC drive, however, is the primary obstacle to the growth of the market. The growth of the DC drive market is expected to be driven by an increasing emphasis on the implementation of an energy-efficient solution in industries. Electric vehicles are gaining a lot of popularity with the growing trend towards renewable energy and eco-friendly transport. An integral part of electric vehicles is powered by DC. DC drives have the benefit of lower cost and maintenance that they can use effectively to sustain their market. Asia Pacific is the primary market. Significant demand is driven by rapid growth in urbanisation and industrialization. In addition, the DC drive faces demand from the electric vehicle industry, apart from the industries, which is projected to display a positive growth trajectory in the Asia Pacific region due to the growing population.
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Key Market Players
The major players in the market are 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. and Ge Power Conversion and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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