AC Drives Market on a Projected Growth Trajectory to Reach $32.3 Billion by 2030, with China Exhibiting a Robust CAGR of 8.7%


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 AttributeDetails
No. of Pages89
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$21.6 Billion
Forecasted Market Value (USD) by 2030$32.3 Billion
Compound Annual Growth Rate5.2%
Regions CoveredGlobal

For more information about this report visit https://www.researchandmarkets.com/r/rxows9

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Global Market for AC Drives

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