APAC Low-Voltage Drive Market to Hit $12 Billion by
Selbyville, Delaware, Oct. 11, 2022 (GLOBE NEWSWIRE) —
APAC low-voltage drive market expected to register a valuation of USD 12 billion by 2030, according to a new research report by Global Market Insights Inc.
Rapid urbanization has increased investment in commercial buildings. Private and public investors are funding the development of smart infrastructure to improve the reliability and efficiency of electricity supply. Gensets used in smart grids are integrated with voltage variators to ensure that the correct voltage level is maintained. The increasing deregulation of the energy sector, the rise of microgrids and distributed energy are among the key factors favoring the deployment of power electronic components such as low voltage drives.
The APAC market for low voltage drives in the 22 kW –
Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/5373
The Asia Pacific low voltage drive market in the AC drive segment is estimated to achieve a growth rate of over 5% through 2030. AC drives enable motors of various electrical components to operate at precise speeds by varying the motor speed according to the application. This results in substantial energy savings, reducing plant operating costs and overall motor maintenance costs. Therefore, the adoption of energy efficient circuit components such as variable frequency drives in heavy machinery will increase.
The standard technology segment in the APAC low voltage drive market is expected to grow at a CAGR of over 4% through 2030. This growth is attributed to the growing demand for policies promoting energy efficiency. For example, the International Energy Agency (IEA) collaborates with the ASEAN Secretariat, the ASEAN Center for Energy (ACE) and the Energy Efficiency and energy conservation to develop detailed roadmaps for space and building cooling in the region. These measures will promote the installation of energy efficient components such as low voltage drives in HVAC systems.
Asia Pacific Low Voltage Drives Market of the fan application segment will show substantial growth, owing to the increasing demand for optimized fan units in industrial applications. Centrifugal fans are used in the cooling process to remove heat and maintain proper temperature. Integrating low voltage AC drives into these units can help reduce a significant percentage of energy costs.
The power generation end-use segment is expected to hold a commendable share of the APAC low voltage drives market over the forecast period. One of the drivers of this growth is the move upmarket of initiatives focused on the development of environmentally friendly and energy efficient networks.
Japanese industry will register significant revenues, with the rapid development of industrial automation and the increased demand for power generation. According to the BP Statistical Review of World Energy 2022, Japan generated more than 1,019 TWh of electricity in 2021, indicating an increase of nearly 2.3% from 2020 levels. across the country and the adoption of industrial robots will enhance product deployment.
Some of the key players involved in the APAC Low Voltage Drives market include Schneider Electric, Rockwell Automation, Inc., GE, Hitachi Hi-Rel Power Electronics Private Limited, Honeywell International, Inc., Eaton, Emerson Electric Co., CG Power, and Industrial Solutions Limited, Johnson Controls, Invertek Drives Far East Pte Ltd and Nidec Corporation. These leaders are focused on unveiling new products to expand their offerings and business operations in the region.
Citing an example, in April 2021, Siemens released Simotics S-1FS2 to expand the application of its Sinamics S210 servo drive system. The product is widely used in pharmaceutical and food and beverage industries and claims to provide high resolution 22-bit multi-turn encoders. This launch has allowed the company to strengthen its product portfolio in the servo drives and motors sector and improve its competitive advantage.
Request to customize this research report @ https://www.gminsights.com/roc/5373
Partial Table of Contents (ToC) of the report:
Chapter 2 Asia-Pacific Low Voltage Drives Market Overview
2.1 Industry Ecosystem Analysis
2.2 Innovation and technology landscape
2.3 Regulatory landscape
2.4 Impact of COVID-19 on Industry Outlook
2.5 Industry Impact Forces
2.5.1 Drivers of growth
126.96.36.199 Increasing the addition of electrical capacity
188.8.131.52 Rapid rate of industrialization and commercialization
184.108.40.206 Growth in infrastructure spending
2.5.2 Industry Pitfalls and Challenges
220.127.116.11 High implementation cost
2.6 Analysis of growth potential
2.7 Porter’s analysis
2.8 Competitive Landscape, 2022
2.9 PESTEL analysis
Browse our report store – [email protected] https://www.gminsights.com/gmipulse
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed through proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.