AC Adjustable Speed Drives Market was valued at USD 26.5 Billion in 2022 and is projected to reach USD 40.1 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
As we move from 2023 to 2033, the outlook for the AC Adjustable Speed Drives market appears even more promising, with numerous factors influencing demand. The global shift toward renewable energy sources, coupled with the need for energy-efficient solutions, is expected to accelerate growth. Additionally, the increasing demand for electric vehicles (EVs), coupled with expanding infrastructure for sustainable power generation, is projected to drive the need for more advanced and customizable drive solutions. Technological innovations, such as IoT integration and the growing preference for smart grids, are also anticipated to push the market forward.
The market will continue to be shaped by factors such as the expanding automotive industry, where ASDs are essential in EV powertrains and charging infrastructure, and the continued push for industrial automation. Industries are constantly looking for ways to improve efficiency, and AC Adjustable Speed Drives provide the perfect solution for controlling motor speed, reducing wear and tear, and enhancing productivity. In particular, industries like mining, oil and gas, water and wastewater, and power generation are seeing substantial benefits from incorporating these drives into their operations.
The next decade will see a shift toward higher customization and more advanced capabilities in ASD products. Manufacturers are focusing on increasing the intelligence of these drives to accommodate industry 4.0 technologies. Furthermore, improvements in digital communication protocols and hardware designs are expected to boost reliability, making ASDs more adaptable and robust across diverse applications.
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The AC Adjustable Speed Drives (ASD) market has witnessed significant growth from 2018 to 2022, driven by advancements in automation, the rise in energy efficiency awareness, and the increasing adoption of variable frequency drives (VFD) across various industries. During this period, demand for these drives surged as businesses sought to optimize their operations, reduce energy consumption, and lower operational costs. The period saw robust investment in sectors such as HVAC, manufacturing, and industrial automation, all of which heavily rely on the precision control offered by ASDs.
Mitsubishi Electric
Siemens
Toshiba
ABB
Schaffner
Danfoos
Yaskawa Electric
WEG
Johnson Controls
Power Systems International（PSI）
Rockwell Automation
Fuji Electric
Hitachi
Eaton
Franklin Control Systems
Parker
Schneider Electric
Invertek Drives
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global AC Adjustable Speed Drives Market
Pumps
Fans
Others
Based on Types the Market is categorized into Below types that held the largest AC Adjustable Speed Drives market share In 2023.
Low Voltage Drives
Medium Voltage Drives
High Voltage Drives
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global AC Adjustable Speed Drives Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global AC Adjustable Speed Drives Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global AC Adjustable Speed Drives Market, By Type
6. Global AC Adjustable Speed Drives Market, By Application
7. Global AC Adjustable Speed Drives Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global AC Adjustable Speed Drives Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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