In-depth analysis and data-driven insights on the impact of COVID-19 included in this global electric drives market report.
The global electric drives market is expected to grow at a CAGR of over 4.6% during the period 2020−2026.
Key Highlights Offered in the Report:
Key Offerings:
Get your sample today!
Electric Drive Market – Segmentation
Electric Drive Market by Product Type
Electric Drive Market by Sales Channel
Electric Drive Market by Voltage
Electric Drive Market by End-User
Electric Drive Market – Dynamics
Since the past few years, Variable Frequency Drives (VFDs) are being used with motors to increase efficiency as well as make them cost-effective. Several IE2 and IE3 motors are used along with VFDs, which, in turn, enables them to meet the specifications of higher efficiency of IE4 motors. Moreover, many countries in Europe such as Switzerland and others have passed regulations on the use of VFDs with motors. The installation of IE2 motors is only allowed if they are used with VFDs. Also, several end-user industries across the globe are using VFDs with IE3 motors, which delivers the same results as IE4 motors to beat the high costs associated with IE4 motors. Since a majority of end-user industries use AC motors in their operations, the demand for AC electric drives or VFDs is will supplement the electric drives market in the forecast period.
Key Drivers and Trends fueling Market Growth:
Electric Drive Market – Geography
APAC was the largest revenue contributor to the global electric drives market, accounting for a market share of over 37% in terms of revenue in 2020. Of this, China accounted for a major share in the electric drives market. This can be attributed to the increasing number of investments in fully automated industrial machinery and YOY growth in government spending toward defense aircraft and equipment in major economies across the region. In addition, the huge number of vendors in the electronic appliances industry in the Chinese market is creating favorable manufacturing situations in the country as electric components are major raw materials.
Electric Drive Market by Geography
Major Vendors
Other Prominent Vendors
Looking for more information? Click Here
About Arizton Advisory & Intelligence
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize fool proof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Arizton Advisory & Intelligence Chicago, Illinois, 60605 Mail: [email protected] Call: +1-312-235-2040/+1 302 469 0707
Media ContactCompany Name: Arizton Advisory & Intelligence Contact Person: JessicaEmail: Send EmailPhone: +1 3122332770Country: United StatesWebsite: https://www.arizton.com/market-reports/electric-drives-market-size-analysis