The AC Drives market is
expected to grow at a sizable CAGR over the forecast period. Key drivers for
this market are rapid industrialization and urbanization, rising need for
energy efficiency, and regulations conducive to the maintenance of energy
efficient operations. Burgeoning demand in the automotive aftermarket and
automation of remote facilities using Industrial Internet of Things (IIoT) will
open new avenues for this market share on the forecast horizon. But the fact
that this a fragmented market due to stiff competition from local regional
players, and decline in foreign direct investments is challenging market
growth. It is a horizontal market catering to various downstream verticals
including oil & gas, power generation, home/building automation, water and
wastewater, food & beverage, chemicals & petrochemicals. Market
ecosystem consists of basic component suppliers (Converters, Inverters, Transistors,
DC rectifiers etc), OEMs, distributors, and end users.
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AC drives are VFDs that change
voltage and frequency of the supply in order to control the AC motor’s speed.
Most popular application of an AC drive is the stepless control of a squirrel
cage induction motor. An AC drive typically consists of a rectifier or
converter that converts AC voltage to DC voltage, a DC link, and an inverter
that converts DC voltage back to AC voltage which is fed to the AC motor. Pulse
Width Modulation (PWM) VFDs in combination with Field Oriented Control and
Direct Torque Control methods is employed for controlling asynchronous AC
machines. PWM drives also facilitate the operation of multiple motors on a
single VFD.
The AC drives market is
segmented on the basis of voltage, application, end user industry, power
rating, and the geographical region. The input voltage can low or medium.
Applications of AC drives include the control of conveyors, fans, pumps,
compressors, extruders, and others. End user industries include building
automation, metals & mining, oil & gas, power generation, home
automation, water & wastewater, food & beverage, chemical &
petrochemicals, and other industries. Classification based on power rating
includes low power drives (< 40 kW), medium power drives (41 – 200 kW), and
high power drives (> 200 kW). The geographical regions for this market are
Asia Pacific, Europe, North America, South America, and Middle East &
Africa.
water mark in terms of CAGR in
the forecast period; along with Middle East & Africa. This can be
attributed to rapid industrialization and urbanization in emerging markets.
China is on the forefront of the current AC drives market.Key players in the AC
drives market are Toshiba, Parker Hannifin, Rockwell Automation, Hitachi,
Emerson, Siemens, Fuji Electric, YASKAWA, WEG, ABB, Danfoss Group, Schneider,
Mitsubishi Electrical Co Ltd, Hiconics Drive Technology Co Ltd.
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