DC Drives Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of DC Drives Market

The DC Drives Market size was valued at USD 4.34 billion in 2023, and the market is now projected tgrow t9.23 USD billion by 2032, exhibiting a CAGR of 5.59% during the forecast period of 2023-2030.

The pandemic has been anticipated tbe a bane for the entire industrial developments of various market and fields. This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps tstop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related tthis domain. These factors affected the DC Drives Market growth.

Over the forecast period, the market has grown thanks trising investments in the development of the manufacturing and processing industries. Because they only require one power conversion from AC tDC, DC drives are simpler. The inverter drive, which serves mainly as a bridge between the supply and the load, is larger than a DC drive. For a greater horsepower rating, the price is lower. For applications that need constant regeneration for overhauling loads, DC regenerative drives are provided. Therefore, having many technical advantages over AC drives and being more affordable would support the growth of the DC drives market over the forecast period. These particular growth driving factors have been recorded tattribute the DC Drives Market Share.

It is necessary for a product market twalk with the trends in order tincreases its lucracy and profits in shares and all over revenue. A significant shift is occurring in the power sector, which has changed the picture for the sector. During the anticipated period, the market would rise with the support of growing manufacturing facilities worldwide and an expansion of industrial infrastructure. Growing urbanization and industrialization rates, as well as the growth of manufacturing facilities, are driving the market for direct current drives. DC drives are used in a variety of applications tregulate the voltage supply and change the speed of DC motors. They provide significant energy savings for a range of industrial applications by regulating the motor speed in the production and processing sectors.

Comprehensive Analysis of DC Drives Market

The segmentation of this particular market has been divided and then further subdivided intvarious categories. The market for direct current drives is divided intthree segments based on voltage rating: up t240 V, 240-600 V, and 600 V & above. The demand for this V sector is raised by the fact that up t240 V DC drives are primarily utilized in processing and industrial applications. The market for DC drives is divided intthree segments based on power rating: up t250 kW, 251 – 500 kW, and 500 kW & above. Due ttheir growing use in small and medium-sized businesses for a variety of purposes, the up t250 kW sector is driving market expansion. Oil & gas, power generation, food & beverage, chemicals & petrochemicals, metal & mining, water & wastewater, building automation, and other industries are the end-user-based segments of the DC drives market. These particular segmentations have been categorized intsuch groups sthat their attribution tthe overall revenue systems are properly recorded studied sas tdetermine which is the leading and most beneficial segment of all.

With regard temerging economies, infrastructure construction, and massive investments, Asia-Pacific is one of the world's fastest-growing regions. These factors further contribute tthe expansion of the manufacturing and industrialization sectors. The demand for DC drive adoption in industries is alsaccelerated by large expenditures from developing economies. In terms of the growth of the DC drives market revenue, North America and Europe would come after Asia Pacific. Demand for the market is expected tbe accelerated throughout the forecast period by the significant increase in the oil and gas sector from the United States and Canada, as well as the growing deployment of DC drives in the food and beverage industry from the European countries. The region is expected tmaintain a significant proportion during the projected period.

Global markets are fiercely competitive and highly fragmented. Due ttheir creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Rockwell Automation (U.S.), Toshiba International Corporation Ltd. (U.S.), Parker Hannifin (U.S.), Danfoss (Denmark), Nidec Motor Corporation (U.S.), Sprint Electric Limited (U.K.), American Control Electronics (U.S.), Crompton Greaves Limited (India), Renown Electric Motors (U.S.), and GE Power Conversion (France).

In June 2021, This particular company has attributed the market growth in terms of revenue and shares system. Emotron VSX and VSM Series variable speed drives are new products from CG Power and Industrial Solutions Limited. High efficiency, a small form factor, and enhanced performance capabilities are the goals of these devices for a range of industrial applications.

Segmentation Table

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 t240 V
• 240 - 600 V
• 600 V & Above

By Power Rating

• Up t250 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)

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