Global Low Voltage Drives Market Will Attain a Value of More than 21 bn by 2022

An insightful study, titled “Low Voltage Drives Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2022” has been freshly broadcasted to the vast research repository of Market Research Reports Search Engine (MRRSE). This 170 page research study provides detailed comprehensions and forecasts future growth of the global market with an in-depth study of the factors impacting revenue growth throughout the mentioned forecast period. Further, a deep analysis on the major players from diverse regions is also present in the report.

Request For Sample Report @ https://www.mrrse.com/sample/3519

The prolific rise in the industrialization and the steady increase in the need for energy across the world has fueled the demand for low voltage drives in a number of industries, such as the mining, oil and gas, food and beverages, packaging, and automotive. This, as a result, is reflecting greatly on the global market for low voltage drives. Various features of low voltage drives, such as positive energy balance, enhanced quality and productivity, high safety levels, and low energy consumption, are also driving the growth of this market substantially.

The opportunity in the worldwide market for low voltage drives is expected to soar exceptionally between 2017 and 2022, rising at a CAGR of 5.60%. The market, which is anticipated to reach U$16.53 bn by the end of 2017, will attain a value of more than 21 bn by 2022.

Broadly, on the regional basis, the global market for low voltage drives is classified into Europe, the Middle East and Africa (MEA), North America, Asia Pacific excluding Japan (APEJ), and Japan. The intense need for energy in APEJ has established the region as the leading market for low voltage drives across the world. The industrial development in various emerging economies in the Asia Pacific region, such as India and China, is leading to an increased demand for low-voltage motors in a number of industries, especially in automotive and electronics, which is likely to ensure the dominance of the APEJ market for low voltage drives in the years to come.

North America and Europe are also projected to witness a steady rise in the demand for these drives over the next few years, thanks to the increasing inclination toward cleaner energy, specifically for solar and wind projects. Apart from this the presence of stringent rules and policies pertaining to motor efficacy and the replacement and upgradation of old equipment are also expected to boost the demand for low voltage drives in both the regions in the near future. IE2 and IE3 type devices witness a widespread adoption in Australia, Canada, the U.S., New Zealand, and several economies in Europe.

Primarily, low voltage drives are available in five efficiency classes, that is, IE 1, IE 2, IE 3, IE 4, and DC. The demand for IE 2 and IE 3 low voltage drives are higher than other type of products on account of their specific characteristics, such as corrosion resistance and flexible terminal box. Over the coming years, the demand for IE4 drives will also increase, owing to the less energy consumption offered by them.

 Browse Full Report with TOC @ https://www.mrrse.com/low-voltage-drives-market

Low voltage drives find significant application in a number of sectors, such as the food and beverages, manufacturing, commercial HVAC, water and wastewater, power generation, shipbuilding and marine, infrastructure, metallurgy, automotive, and the textile. Among these, the automotive sectors is reporting a stronger demand for these drives and the trend is anticipated to continue in the near future. Low voltage drives are available in the capacity of 0.75 - 2.1 kW, 2.2 - 7.4 kW, 7.5 - 45 kW, 46 - 75 kW, 76 - 110 kW, 111 - 375 kW, and > 375 kW across the world.

The global low voltage drives market demonstrates a highly competitive business landscape. At the forefront of this market are Rockwell Automation Inc., Danfoss A/S, YASKAWA Electric Corp., SEW Eurodrive GMBH & Co.KG, Nidec Control Techniques Ltd., KEB Automation KG, General Electric Co., ABB Ltd., Schneider Electric SE, and Siemens Ltd.

Enquire about this Report @ https://www.mrrse.com/enquiry/3519

About Market Research Reports Search Engine

Market Research Reports Search Engine (MRRSE) is an industry-leading database of Market Research Reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords.

MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting.

Contact Us

State Tower
90, State Street
Suite 700
Albany, NY – 12207(United State)
Telephone: +1-518-730-0559(toll free no)
Email: sales@mrrse.com
Website: https://www.mrrse.com/

This release was published on openPR.