Asia Pacific Electric Drives Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Asia Pacific electric drives market is expected to register a CAGR of 4.8% over the forecast period (2022-2027). Electric drives deliver a highly-efficient production process at a low cost. As electricity consumption is the major cost component across end-user industries, the demand for electric drives has increased considerably to gain an advantage over electricity consumption.
Key HighlightsThe Asia Pacific electric drives market is fragmented owing to the presence of regional and international players such as Danfoss, ABB, Nidec Corporation, TMEIC, etc., in the market that offers high-quality, reliable devices with technological advancement. The competition will likely intensify due to rising activities such as mergers and acquisitions and product launches by vendors to enhance their presence in the market.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook