Global Low Voltage Drives Market Growth, Segment, Trends and Forecast | Key Players are Yaskawa, Hiconics, Danfoss, Hitachi

Global Market Insights adds Global Low Voltage Drives Market Report new report to its research database. The report provides information on Industry Trends, Demand, Top Manufacturers, product, revenue (value) and end users/applications.

This growing demand for energy has led to introduction of strict legislative mandates endorsing environment sustainability, which in turn is complementing the need for installation of low voltage drives across residential, industrial and commercial settings. Large-scale automation of industries along with rising concerns for environment safety has led to an upsurge in energy efficient equipment demand.

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Adoption across marine applications
The global marine industry is estimated to witness an annual deployment of 1 million low voltage drive units by 2025. Rising cross-border trade as well as ship building activities specifically in Japan, South Korea and China will boost product demand. Chinese Navy is modernizing at an impressive rate with construction of a fleet of large destroyers, aircraft carriers and amphibious warships.
Recently, 4 newly constructed destroyers for Chinese Navy were spotted. Two of these were larger Type-055 Class ships, While the other two are air-defense destroyers (Type-052D), which can be considered equivalent to Arleigh Burke Class of guided missile destroyers of the U.S. Navy. The latter can displace 7,500 tons while carrying 64 large missiles and includes cruise missiles and long range SAMs.

Demand for standard low voltage drives
Standard low voltage drives are witnessing major demand on account of optimum space and cost consumption along with product flexibility and versatility pertaining to motor speed control. These drives use pulse width variation indicators for producing analog signals and determining the frequency variations in a specific timeframe.
Rising application of standard low voltage drives across several end use industries due to product’s user-friendly nature; flexibility, compact size and safe & reliable application may foster industry expansion.
Rise in electricity prices across the U.S.
Retail electricity prices in the United States have risen over the last decade. Estimates suggest that residential electricity price in the U.S will increase by 2.8% over 2020-2021. The key factor impacting electricity rates across the country, is significant rise in the prices of natural gas.

The U.S. low voltage drives industry share is estimated to grow on account of large scale adoption of LV units for reciprocating and in centrifugal systems. The product offers cost-effective energy solutions as the lower current draw not only saves energy, but also enables use of smaller, lower-cost cables. These drives are suitable as fixed speed controllers, valves and substitute of dampers.

AN increased number of retrofitting activities across residential, industrial and commercial establishments worldwide and substantial proliferation of LV drives in small and medium enterprises will supplement business landscape. Moreover, mounting demand for low energy systems across O&G, power generation, food processing, marine and textile industry will boost the expansion of global low voltage drives market share over the coming years.

Partial Table of Contents (ToC) of the report:
Chapter 5 Low Voltage Drives Market, By Capacity
5.1 Low voltage drives market share by capacity, 2018 & 2025
5.2

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