North America Alternating Current (AC) Drive Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The North American Alternating Current (AC) Drive Market is expected to register a CAGR of 6.9% over the forecast period of 2022 to 2027. North America has already taken a step to ensure maximum usage of renewable energy by 2050. Several investments in AC drives are expected to grow across many industries as these solutions simultaneously save energy and raise machinery productivity by providing better and more precise speed control.
Globalization is driving the use of advanced automation and energy-saving equipment worldwide. The usage will directly result in increased use of AC drives, widely employed across the process, discrete, and infrastructure industries such as building automation, chemicals, oil & gas, food & beverage, textiles, utilities, water & wastewater, and metals in North America.
Key HighlightsThe North American Alternating Current (AC) Drive Market is competitive and consists of several players like Danfoss, WEG, Siemens, Fuji Electric Co., Ltd., Schneider Electric, Emerson Electric Co., Rockwell Automation, Inc., ABB, Yaskawa Electric Corporation, and many more. The companies are increasing their market share by forming multiple partnerships, investing in projects, and launching new products into the market.
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