PUNE, India, October 6, 2015 /PRNewswire/ --
The report "AC Drives Market by Voltage (Low and Medium), Power Rating (Low, Medium and High Power), Application (Pumps, Fans, Compressors, Conveyors, Extruders, and Others), End-use Industry and by Region - Global Trends & Forecast to 2020", published by MarketsandMarkets, The global AC Drives Market will grow from an estimated value of USD 14.6 Billion in 2015 to USD 21.0 Billion by 2020 with a CAGR of 7.4% from 2015 to 2020.
Browse 78 market data Tables and 63 Figures spread through 198 Pages and in-depth TOC on "AC Drives Market - Global Trends & Forecast to 2020"
Early buyers will receive 10% customization on this report.
The market report defines and segments the market with regional forecast and segment revenue estimates till 2020. Top market players from the industry have been studied in order to track developments, technologies, and other key business strategies that define the market environment. The Alternate Current (AC) drive is an electronic device that controls the speed of an electric motor by changing the voltage, frequency, and magnetic flux in a motor circuit. Its primary advantages are increased energy savings and reduced motor wear.
Rising electricity prices, along with increased demand for electricity and energy, is currently driving the AC drives market. In addition, high potential of AC drives to reduce energy consumption and enhance efficiency of the system provides a huge opportunity for retrofit applications in the manufacturing industry. Stringent government regulations to reduce carbon emissions during electricity production and consumption are also adding to the rising demand for the device.
The global AC drives market has been analysed based on end-use industry, voltage, application, power rating, and region. The report covers the key regions of North America, Asia-Pacific, Europe, South America, and the Middle-East & Africa.
Download Free Sample Pages @ http://www.marketsandmarkets.com/requestsample.asp?id=131149781
Asia-Pacific: The largest market for AC drives
The Asia-Pacific region holds the largest market for AC drives, driven by rapidly growing urbanization and industrialization in this region. Huge investments in infrastructure development are also driving the AC drives market in Asia-Pacific. The other major drivers include increasing power demand, and strict government regulations on energy efficiency.
Oil & gas industry: Largest Market by industry
Oil & gas is the largest user of AC drives among all industries. AC drives are mostly used to control the speed of pumps and compressors used in the oil & gas industry. The oil & gas market was valued USD 2.0 Billion in 2014, and is expected to reach USD 2.9 Billion by 2020, from 2015 to 2020. The other Industries covered in this segment is water & wastewater, power generation, building automation, food & beverage, metals &mining, chemical & petrochemicals and others.
Browse Related Reports
Motor Soft Starter Market by Voltage, by Rated Power, by Application (Pumps, Fans, Compressors & Others), by Industry (Oil & Gas, Water & Wastewater, Power Generation, Mining & Others) and by Region - Global Forecast and Trends to 2020
Variable Frequency Drives Market by Type (AC, DC, Servo), Power Range (Micro, Low, Medium, High), Voltage (Low & Medium), Application (Pump, Fan, Compressor, Conveyor, Elevator, Extruder) and Geography - Global Market Trends & Forecast to 2019
MarketsandMarkets is the world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/energy-and-power
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets