Low Voltage AC Drives Market Size - By Power Range (Micro, Low), By Efficiency Class (IE 1, IE 2, IE 3, IE 4), By Application (Pump, Fan, Conveyor, Compressor, Extruder), End-Use & Global Forecast, 2023 - 2032

Low Voltage AC Drives Market Size - By Power Range (Micro, Low), By Efficiency Class (IE 1, IE 2, IE 3, IE 4), By Application (Pump, Fan, Conveyor, Compressor, Extruder), End-Use & Global Forecast, 2023 - 2032

Global Low Voltage AC Drives Market size will expand substantially through 2032. Rapid industrial growth across both developed and developing economies will create a strong impetus for industry growth. Low voltage AC drives provide the flexibility to adjust motor speed and torque, enabling process optimization. They allow industries to optimize material handling, conveyor systems, pumps, fans, and other equipment, which results in improved process efficiency and productivity. They also offer the potential for energy savings, reduced maintenance needs, and increased equipment lifespan, which will add to their popularity over the coming years.

The overall low voltage AC drives market is classified based on power range, efficiency class, application, end-use, and region.

The market share from the low power range segment will grow at a notable CAGR from 2023 to 2032. Low-power range AC drives support a range of motor types, including induction motors and permanent magnet motors. Additionally, they can accommodate various loads and applications, providing flexibility and versatility. These drives can be integrated into existing electrical systems without major modifications. They are compatible with standard power supplies and can be connected to control systems through commonly used communication protocols, facilitating seamless integration into various industrial environments.

Based on application, market value from the conveyor segment will register considerable growth through 2032. Low voltage AC drives provide precise control over conveyor speed and position, enabling accurate and reliable material handling. This is particularly beneficial in applications that require precise positioning, such as assembly lines, sorting systems, and packaging operations. Additionally, they incorporate overload protection features, which help prevent motor damage due to excessive loads or jams, ensuring equipment safety and reducing downtime.

With respect to end-use, industry size from the automotive segment will expand significantly through 2032. Low voltage AC drives are integral components in electric vehicles, controlling the power delivery to the electric motor that drives the vehicle. These drives help regulate motor speed and torque, ensuring efficient and reliable propulsion. Escalating government efforts toward promoting the use of electric vehicles will shape the industry outlook. For instance, in April 2023, the U.S. government announced new public and private sector investments in affordable electric vehicles.

On the regional front, Europe low voltage AC drives market share will grow at a significant CAGR from 2023 to 2032. Stringent energy-efficiency regulations in Europe have increased the demand for low voltage AC drives. Countries such as France and Germany have set their targets to achieve carbon neutrality. Moreover, the rapid expansion of industries such as oil & gas, food processing, power generation, and others that are prominent end-users of low voltage AC drives is encouraging product adoption in the region.