United States Low Voltage (LV) Inverters Market in Oil & Gas Industry to Reach US$ 1,164.1 Million by 2031

𝑴𝒂𝒓𝒌𝒆𝒕 𝑺𝒆𝒕 𝒇𝒐𝒓 𝑹𝒐𝒃𝒖𝒔𝒕 𝑮𝒓𝒐𝒘𝒕𝒉 𝒘𝒊𝒕𝒉 𝒂 𝑪𝑨𝑮𝑹 𝒐𝒇 5.5% 𝑶𝒗𝒆𝒓 𝒕𝒉𝒆 𝑭𝒐𝒓𝒆𝒄𝒂𝒔𝒕 𝑷𝒆𝒓𝒊𝒐𝒅 2023-2031

The 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 𝐋𝐨𝐰 𝐕𝐨𝐥𝐭𝐚𝐠𝐞 (𝐋𝐕) 𝐈𝐧𝐯𝐞𝐫𝐭𝐞𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐰𝐢𝐭𝐡𝐢𝐧 𝐭𝐡𝐞 𝐨𝐢𝐥 & 𝐠𝐚𝐬 𝐬𝐞𝐜𝐭𝐨𝐫, valued at 𝐔𝐒$ 𝟕𝟏𝟗.𝟖 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐, is poised for significant growth, with projections estimating a market size of 𝐔𝐒$ 𝟏,𝟏𝟔𝟒.𝟏 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏. The market is expected to expand at a steady 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟓.𝟓% during the forecast period 2023 to 2031, driven by advancements in automation and increasing demand for energy-efficient technologies.

𝐒𝐞𝐜𝐮𝐫𝐞 𝐘𝐨𝐮𝐫 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭: -https://www.astuteanalytica.com/request-sample/united-states-lv-inverters-market-oil-gas-industry

𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

The growth of the LV inverters market in the oil & gas sector is influenced by several critical factors:

𝐑𝐢𝐬𝐢𝐧𝐠 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐢𝐨𝐧 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬: With oil & gas companies increasingly focusing on operational efficiency, automation has become essential. LV inverters play a pivotal role in controlling and optimizing motor-driven processes, leading to improved productivity and cost savings.

𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐅𝐨𝐜𝐮𝐬 𝐨𝐧 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲: The push for sustainable operations has compelled the industry to adopt energy-efficient technologies. LV inverters contribute by reducing energy consumption and minimizing operational costs, aligning with environmental regulations and sustainability goals.

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐨𝐓: Integration of LV inverters with Industrial Internet of Things (IIoT) platforms allows for real-time monitoring and control, enhancing equipment reliability and reducing downtime.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

𝐒𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐭 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐢𝐧 𝐌𝐨𝐝𝐞𝐫𝐧𝐢𝐳𝐢𝐧𝐠 𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞: The oil & gas industry's emphasis on modernizing infrastructure to meet the growing energy demand is driving the adoption of advanced LV inverter systems.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: North America, particularly the United States, remains a major contributor to the LV inverters market due to its robust oil & gas infrastructure and early adoption of technological advancements.

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬: The increasing deployment of variable frequency drives (VFDs) in upstream, midstream, and downstream operations highlights the growing reliance on LV inverters for versatile applications.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤

The projected growth trajectory underscores the importance of LV inverters in achieving operational excellence in the oil & gas industry. With continued advancements in digitalization and automation, the market is expected to witness new opportunities, particularly in enhancing predictive maintenance and ensuring operational safety.

𝐓𝐨𝐩 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐒 𝐋𝐕 𝐈𝐧𝐯𝐞𝐫𝐭𝐞𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧 𝐭𝐡𝐞 𝐎𝐢𝐥 𝐚𝐧𝐝 𝐆𝐚𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲

ABB Ltd.
Eaton Corporation PLC
Fuji Electric Co. Ltd.
Hitachi,
Hyosung Corporation
Inovance Technology Europe GmbH
Mitsubishi Electric Corporation
Powell Industries Inc.
Schneider Electric SE
Siemens AG
Toshiba Corporation
Other Prominent Player

𝐀𝐜𝐜𝐞𝐬𝐬 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: -https://www.astuteanalytica.com/industry-report/united-states-lv-inverters-market-oil-gas-industry

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
Upstream Operations
Gas Lift
Gas Gathering
Reinjection of Gas for Pressure Maintenance
Electric Submersible
Chemical Reinjection
Others
Midstream Operations
Gas Processing Operations
Transmission and Distribution System
Reducing the Gas Volume for Shipments or for Storage
Transportation and Storage of Petroleum & Petrochemical Products
Others
Downstream Operations
Heat Trains
Oil Transfer
Treating Cooling Water in the Processes
Others

𝐁𝐲 𝐒𝐮𝐛𝐬𝐭𝐚𝐭𝐢𝐨𝐧𝐬
Outdoor
Indoor

𝐁𝐲 𝐏𝐮𝐦𝐩𝐬
Centrifugal Pumps
Reciprocating Pumps
Positive Displacement Pumps
Piston Pumps (Lift, Force Pump)
Rotary pumps (Coil, Gear or Wing Pump)
Diaphragm Pumps
Others

𝐁𝐲 𝐂𝐨𝐦𝐩𝐫𝐞𝐬𝐬𝐨𝐫𝐬
Positive Displacement Compressor
Reciprocating Compressor (Diaphragm, Double and Single Acting)
Rotary Compressor (Lobe, Screw, Liquid Ring, Scroll, Vane)
Dynamic Compressor
Centrifugal Compressor
Axial Flow Compressor
Others

𝐁𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞𝐫𝐬
Oil and Gas
Mining and Aggregate
Chemical and Petrochemical
Hoisting Machinery
Others

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬

𝐌𝐚𝐫𝐤𝐞𝐭 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐: US$ 719.8 million

𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏: US$ 1,164.1 million

𝐂𝐀𝐆𝐑 (𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟏): 5.5%

𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

While the market outlook is positive, challenges such as high initial investment costs and technical complexities in deployment may pose hurdles. However, the increasing demand for digital transformation and green energy solutions provides ample growth opportunities for key players in the market.

𝐀𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲

The oil & gas sector remains one of the largest users of LV inverters, driven by the need for reliable and efficient systems to manage critical processes. LV inverters ensure smooth operation of pumps, compressors, and other motor-driven applications, reducing energy consumption and maintenance costs.

𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧

The United States Low Voltage (LV) Inverters Market in the oil & gas industry is set to witness remarkable growth over the coming years. With advancements in technology, rising demand for energy efficiency, and a focus on sustainability, the market presents significant opportunities for innovation and investment.

𝐆𝐞𝐭 𝐢𝐧𝐬𝐢𝐝𝐞 𝐒𝐜𝐨𝐨𝐩 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐫𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞: -https://www.astuteanalytica.com/request-sample/united-states-lv-inverters-market-oil-gas-industry

𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:

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This release was published on openPR.