Global Electric Drives Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The global electric drives market is expected to register a CAGR of 4.5% over the forecast period (2022-2027). The increasing emphasis on industrial automation and the advent of the internet of things (IoT) is expected to drive the demand for electric drives in the forecast period.
Key HighlightsThe global electric drives market is fragmented owing to the presence of players such as Danfoss, ABB, Schneider Electric, 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