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DC Drives Market to Reach $6.71 Billion by 2026; Increasing Expansion of Manufacturing Plants to Drive Growth

February 04, 2020 | Energy & Power

The global direct current (DC) drives market size is projected to reach USD 6.71 billion by 2026. It is set to gain momentum from the ongoing expansion of manufacturing plants around the world. Also, increasing investment by major players in the industrial infrastructure would affect the market positively. This information is provided by Fortune Business Insights™, in a recently published report, titled, Direct Current (DC) Drives Market Size, Share & Industry Analysis, By Voltage Rating (Up to 240 V, 240 - 600 V, and 600 V & Above), By Power Rating (Up to 250 kW, 251 - 500 kW, and 500 kW & Above), By End User (Oil & Gas, Power Generation, Food & Beverage, Chemicals & Petrochemicals, Metal & Mining, Water & Wastewater, Building Automation, and Others), and Regional Forecast, 2019-2026.” The report further mentions that the market stood at USD 4.34 billion in 2018. But, it would exhibit a CAGR of 5.7% during the forecast period between 2019 to 2026.


CG Introduces Emotron VSM and Emotron VSX Series Variable Speed Drives


CG Power and Industrial Solutions Limited (CG), an Indian designer, marketer, and manufacturer of products related to power generation, transmission, and distribution, added two new range of products to its compact variable speed drives family. They are named Emotron VSM and Emotron VSX Series. They are equipped with an innovative technology that puts forward high performance motor control to complex processes used in numerous industries. The products are specifically made for consumers belonging to the domestic market.


The Emotron VSX Series provides personalized solutions as per the required application. They are extremely compact and possess technologically advanced packaging. It’s LCD graphical display also helps in offering a user-friendly interface that sets the system up efficiently. The Emotron VSM, on the other hand, not only offers a user-friendly set-up but also provides flexible installation of the system. It aids in the cost-efficient and reliable operation of constant torque, compressors, fans, and pumps.  


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/dc-drives-market-101447


Rising Investments by Countries in Manufacturing & Processing Industry to Propel Growth


As per the World Investment Report 2018, in the year 2017, Asia Pacific invested USD 476 billion of inflow from foreign direct investment. It was mainly contributed by Singapore and China. It proves that the rising number of investments for broadening the manufacturing and processing industry across the world is anticipated to augment the DC drives market growth in the coming years.


Key Players Focus on Launching Technologically Advanced Products to Strengthen Position


The top players in the market are striving constantly to keep up with the DC drives market trends in order to cater to the needs of their consumer bases. Some of the companies are blending the drives with novel features, namely, I/O options, communication, built-in control programs, and programmability. Below is one of the key industry developments:



  • July 2018: ABB, a multinational corporation operating mainly in the automation, heavy electrical equipment, power, and robotic technology areas, headquartered in Switzerland, completed its acquisition of GE Industrial Solutions (GEIS). The total value of the transaction was around USD 2.6 billion. ABB has established a long-term strategic supply relationship with GE to provide them with solutions and products across the former’s portfolio.


Fortune Business Insights™ presents a list of all the renowned organizations present in the direct current drives market. They are as follows:



  • Rockwell Automation

  • Siemens

  • GE Power Conversion

  • ABB

  • Nidec Motor Corporation

  • Toshiba International Corporation Ltd.

  • Renown Electric Motors

  • American Control Electronics

  • Schneider Electric

  • Sprint Electric Limited

  • Danfoss

  • Crompton Greaves Limited

  • Parker Hannifin

  • Other key market players


Further Report Findings-



  • Asia Pacific acquired USD 1.25 billion in terms of DC drives market revenue and is likely to grow at a fast pace. This growth is attributable to the modernization of industrial infrastructure.

  • Europe & North America would showcase considerable growth stoked by the expansion of food & beverage, as well as oil and gas sectors, respectively.

  • In terms of voltage rating, the up to 240 V segment held a direct current drives market share of 43.5% in 2018. This growth is attributable to their upsurging usage in the processing industry.

  • Based on power rating, the up to 250 kW segment would dominate the market backed by their growing usage in the small & medium scale industries.

  • DC drives possess several technical advantages over the AC drives. They are also inexpensive and hence, are high on demand.


The DC drives market can be segmented in the following way:











































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion)



Segmentation



By Voltage Rating



  • Up to 240 V

  • 240 - 600 V

  • 600 V & Above



By Power Rating



  • Up to 250 kW

  • 251 - 500 kW

  •  500 kW & Above



By End User



  • Oil & Gas

  • Power Generation

  • Food & Beverage

  • Chemicals & Petrochemicals

  • Metal & Mining

  • Water & Wastewater

  • Building Automation

  • Others



By Region



  • North America (U.S. and Canada)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Europe (U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe)

  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, and Rest of Asia-Pacific)

  • Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)



 

Direct Current (DC) Drives Market
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  • 2015-2017
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