Dublin, March 15, 2024 (GLOBE NEWSWIRE) -- The "AC Drives: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for AC Drives estimated at US$21.6 Billion in the year 2022, is projected to reach a revised size of US$32.3 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2022-2030. Low, one of the segments analyzed in the report, is projected to record 5.6% CAGR and reach US$22.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Medium segment is readjusted to a revised 4.2% CAGR for the next 8-year period. 
The U.S. Market is Estimated at $5.9 Billion, While China is Forecast to Grow at 8.7% CAGR
The AC Drives market in the U.S. is estimated at US$5.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7.1 Billion by the year 2030 trailing a CAGR of 8.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR.
Select Competitors (Total 33 Featured) -
- ABB Ltd.
- Danfoss Group
- Emerson Electric Co.
- Fuji Electric Co. Ltd.
- Hiconics Drive Technology Co. Ltd.
- Hitachi Ltd.
- Mitsubishi Electrical Corporation
- Parker Hannifin Corporation
- Rockwell Automation, Inc.
- Schneider Electric Se
- Siemens AG
- Toshiba International Corporation
- WEG SA
- Yaskawa Electric Corporation
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 89 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $21.6 Billion |
| Forecasted Market Value (USD) by 2030 | $32.3 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/rxows9
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