Press release
AC Drives Market Worldwide Market Trends and Opportunities and Report by 2029 Forecast (COVID-19 Analysis)
The global AC Drives Market size is projected to reach USD 15.62 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period. Rapid rise in power demand worldwide will be the central factor driving the growth of this market. According to the World Energy Outlook Report 2018 published by the International Energy Agency (IEA), between 2017 and 2040, the world energy demand will grow by 27%, with developing countries accounting for around 67% of this rise. Asia-Pacific is slated to consume 46% of the global energy by 2040, with India and China leading the pack. AC drives play a critical role in power generation as it is used in controlling the speed of an electric motor. The use of this device becomes all the more significant in grid facilities where large amount of power is generated and distributed. Thus, rise in demand for power will lead to a demand upsurge for AC drives, augmenting the market in the process.Available Sample Report-
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/ac-drive-market-100728
This Report Focuses On the Top Players in Global Market, Like:
• ABB
• Danfoss Group
• Schneider Electric
• Siemens
• Fuji Electric
• Emerson
• Parker Hannifin
• Rockwell Automation
• Toshiba International Corporation
• WEG
• Yaskawa Electric Corporation
Impact of COVID-19 on AC Drives Market
The coronavirus contagion has led to an unprecedented global economic downturn. Businesses have been severely impacted and industrial operations have been disrupted. However, mankind is strong enough to overcome these challenges as well. We, at Fortune Business Insights™, aim to equip businesses with a comprehensive impact analysis of the current pandemic on different markets, based on our expertise and experience in market intelligence.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/enquiry/customization/100728
Key highlights of the report:
• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscap
Speak to Analyst - https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/ac-drive-market-100728
REGIONAL ANALYSIS
Asia Pacific is expected to dominate the AC drive market share as it is one of the leading regions across the globe in terms of developing economies, building infrastructure, and significant investments, which aids the industrialization and commercialization processes. Increasing focus on developing the manufacturing sector, supportive government policies & regulations, and rising demand for energy optimization are the major factors attributed to the growth of the alternating current drive (AC drive) market during the forecast period. Asia Pacific is followed by North America and Europe for the growth of the AC drive market.
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