The new report by Expert Market Research titled, ‘Global DC Drives Market Price, Trends, Growth, Analysis, Industry, Outlook, Report and Forecast 2021-2026’, gives an in-depth analysis of the global DC drives market, assessing the market based on its segments like voltage power rating, end use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 5%
• Forecast Market Size (2026): USD 6.5 Billion
The surge in demand for energy and power is leading to rapid growth of DC drives market. The DC drives are found to more efficient in operation than AC drives. This leads to a decrease in energy consumption and augments the demand for DC drives. The power generation and oil and gas are therefore one of the leading segments in the end use. The DC drives are also easier to implement in an industry with not much difficulty in the operation. The cost effectiveness of DC drives is also higher than the AC drives. These advantages propel the DC drives industry growth.
Industry Definition and Major Segments
DC drives are electrical equipment used for speed control, direction, and power of a DC motor by supplying voltage. The increase or decrease in the supplied voltage controls the speed of DC motors because of the direct relationship between armature voltage and motor speed. They are used in various industry drive applications.
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On the basis of voltage, industry is categorised into:
• Low Voltage
• Medium Voltage
On the basis of power-rating, DC drives are segmented into:
• Low Power Drives (Up to 250 kW)
• Medium Power Drives (251 – 500 kW)
• High Power Drives (500 kW & Above)
On the basis of end use, industry is divided into:
The report also covers the regional DC drive markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The DC drives industry is expected to have a rapid boost with the increasing industrialisation and expansion of the manufacturing sector. The developing economies will bolster the industry demand for DC drives because of rising population, increasing disposable income, and rapid urbanisation. The end use applications of DC drives are propelling the growth of industry. The oil and gas and power generations are the major end users of DC drives. The food and beverage industries, chemical industries and water and wastewater segments are also experiencing swift growth. This will lead to rapid increase in the market demand for DC drives.
Key Market Players
The major players in the market are ABB Ltd., Siemens AG, Rockwell Automation Inc, Nidec Motor Corporation, Parker Hannifin Corp, and General Electric, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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