Latest posts by Blake Griffin (see all)
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The trend of decentralization in manufacturing continues to manifest in the low voltage AC motor drive market. Limited cabinet space, increased demand for modularity, and a surging opportunity in intralogistics has pushed suppliers to develop drives which can be placed closer to the motor and away from a centralized cabinet. This trend is evident in our Low Voltage AC Motor Drive Market report which forecasts demand by seven different form factors, two of which are decentralized and motor mounted type.
The infographic below demonstrates some of the key findings of our ‘Low Voltage AC Motor Drive Market – 2019’ report and highlights various trends identified in the research including the one mentioned above. The research was conducted through extensive interviews with suppliers and stakeholders in the market. This information was used in conjunction with data from our ‘Manufacturing Industry Output Tracker’ to produce forecasts for the motor drive market by country, industry, and power level.
The Infographic is also available to download in PDF here
- The Low Voltage AC Motor Drive market reached a valuation of $12.6 billion (USD Fixed). We forecast the market to grow at CAGR 1.9% (2017-2023) to reach a value of $13.6 billion in 2023.
- The top 3 fastest growing regions for drives over our forecast period in terms of revenues are Mexico, Turkey, and Middle East & Africa.
- Cabinet Mounted General Purpose drives continue to dominate
- Motor Mounted Drives are posting the strongest growth rates over our forecast period thanks to a continued trend of decentralization in manufacturing.
- The market for drives sold into Oil and Gas is growing nearly twice as fast as the next fastest growing end-user sector.
- Other Dedicated Machinery continues to be the largest sector for drives in terms of revenues while HVAC & Refrigeration makes up the largest volume of units shipped.
- ABB, Danfoss, and Siemens hold the top spots in terms of market share. Combined, the three companies make up 38.5% of market revenues.