LOW VOLTAGE AC DRIVES MARKET

INTRODUCTION

The industry situation will be driven by a growing focus on energy efficiency and increased infrastructure spending. Continuous technical improvements, such as battery-operated motion control devices that assist prompt problem diagnosis and provide efficient work at varying loads and speeds, will increase the use of Low Voltage drives in a wide range of applications.

The regenerative Low Voltage drive demand will be augmented by network reliability, reduced total maintenance, energy consumption, equipment longevity, energy generation, and supply costs.

LOW VOLTAGE AC DRIVES MARKETSIZE AND FORECAST

TheGlobal Low Voltage AC Drives Marketaccounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

LOW VOLTAGE AC DRIVES MARKET NEW PRODUCT LAUNCH

ABB  extensive line of low voltage AC drives to increase the productivity of  processes, enhance energy efficiency, and reduce maintenance costs.

The range of drives covered by the portfolio is extensive. From micro and machinery drives for machine construction to industrial drives for regulating processing lines, industry-specific drives with purpose-built features and capabilities are available.

ABB drives are available from stock or can be custom designed to fulfil specific requirements. Our life cycle services ensure that your systems continue to run smoothly year after year.

Discover Schneider Electric's variable speed drives, which are tailored to the needs of our customers in certain industries. Altair is a prominent brand of variable speed drives, including models such as the Altair 61 Plus, Altair 312, Altair 312 Solar, and others. They all have a wide range of applications. We also provide great services to help our customers reduce operational costs and extend the life of their installed base.

LOW VOLTAGE AC DRIVES MARKET NEW ACQUISITION

Danfoss A/S of Denmark has made an offer for the purchase of Flacon Oyo of Finland, which would bring together two of the top ten global suppliers of variable frequency drives. The two businesses' combined low-voltage drive sales account for almost 10% of the total market value; this is just a little less than the anticipated market shares for ABB and Siemens, the two biggest manufacturers of low-voltage drives worldwide.

Both businesses have a large market share in the EMEA and Asia Pacific areas, as seen by the above graph. In these locations, where only ABB and Siemens have historically contended for the top market share, the combination of the Vachon and Danfoss VFD companies will compete fiercely. The Danfoss press release also praises Vachon's accomplishments in China, Finland, India, Italy, and the United States.

An AC drives business with the clear objective to establish a leadership position in the AC drives market is anticipated to be created through the merger of the Vachon and Danfoss drive companies, according to a Danfoss.

The acquisition will provide the Danfoss and Vachon drive products a stronger market position, and the newly created drives business that results from the acquisition of Vachon by Danfoss will not resemble its rivals.

ABB and Siemens are able to provide comprehensive system solutions across all power ranges because they develop a significant portion of their drives business along with their sizable share of the integral AC motor industry.

Danfoss, on the other hand, has a very modest market share for standalone motors. However, the new Danfoss and Vacon integration will probably have an impact on the competitive environment in lower power ranges—below 50 kW—due to their large market share in drives combined with motors and end equipment.

LOW VOLTAGE AC DRIVERS MARKET RECENT DEVELOPMENT

The Low Voltage AC Drives (IEC) S-736 specification has been developed by JIP33 for public assessment. In compliance with IEC 61800-2, Edition 3, Adjustable speed electrical power drive systems – Part 2, this specification aims to establish a minimal common set of requirements for the purchase of low voltage AC drives. Rating guidelines for AC power drive systems with variable speeds intended for use in the natural gas and petroleum sectors.

Four documents make up the common document structure of the JIP33 standardized procurement specification. These documents, along with the purchase order, define the overall technical specification for procurement.

In order to realize the benefits of standardization and achieve considerable project and schedule cost reductions, it has been created in conjunction with a wide range of users and suppliers.

LOW VOLATE AC DRIVERS MARKET DYNAMICS

Intelligent AC drives with cutting-edge features monitor operating performance, maximize productivity, and improve efficiency. Predictive status monitoring, incorporated sophisticated control algorithms, and sensor instrumentation innovations are essential for linked infrastructure. Since connectivity has become essential, AC drives are developing into intelligent sensors that can provide real-time drive data as well as data from other connected machines. 

This gives operators more insight into the state of the equipment at any given time and makes condition-based monitoring and predictive maintenance possible, both of which will eventually improve plant operations. Products for AC drives are being updated with new features to meet the needs of various markets and improve their value proposition. One such market is the growing desire for smart, connected products.

Alternating current motor torque and speed are managed by low voltage drives in low and high power applications. The business situation will spread due to its low cost, rapid availability, smaller size, and capacity to increase process productivity across industrial processes. Large energy savings and high-efficiency system requirements will also quicken the pace of product development.

The COVID-19 pandemic has had only a little effect on the low voltage drive market because of the disruptions in supply chain logistics and the temporary closure of manufacturing facilities. Product demand has suffered as a result of the stringent measures implemented by regional governments to impose national lockdowns and limit international trade.

The low voltage drive market for the micro drives segment is also expected to increase significantly due to the increasing use of energy-efficient electrical equipment in the commercial and industrial sectors.

The growing application of these systems for integrated/machinery applications, fans, conveyors, mixers, pumps, and other applications will have a favorable effect on product penetration. 

Other key advantages of these systems include a range of smooth and stepless speed and torque control features. Growing industrialization and urbanization in developing countries, increasing industrial automation, and the growing demand for energy-efficient motors are the main drivers of market growth.

Furthermore, the market for low voltage drives is greatly boosted by a number of features, such as high safety standards, enhanced quality and productivity, positive energy balance, and lower energy consumption.

THIS LOW VOLTAGE AC DRVERS MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many  Low Voltage AC Drives are manufactured per annum globally? Who are the sub-component suppliers in different regions?
2. Cost breakup of a Global  Low Voltage AC Drives and key vendor selection criteria
3. Where is the  Low Voltage AC Drives manufactured? What is the average margin per unit?
4. Market share of Global  Low Voltage AC Drives market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Global  Low Voltage AC Drives in-house
6. key predictions for next 5 years in Global  Low Voltage AC Drives market
7. Average B-2-B  Low Voltage AC Drives market price in all segments
8. Latest trends in  Low Voltage AC Drives market, by every market segment
9. The market size (both volume and value) of the  Low Voltage AC Drives market in 2024-2030 and every year in between?
10. Production breakup of  Low Voltage AC Drives market, by suppliers and their OEM relationship