The AC drive market will reach 220 in 2021. 0. 7 billion dollars

by:V&T Technologies     2020-02-25
According to MarketsandMarkets, the global exchange-driven market is expected to grow from US $157. 2 in 2016 to US $220. 7 in 2021, with a compound annual growth rate from 2016 to 2021 (CAGR)For 7%. The report pointed out that the global market is witnessing an increase in energy efficiency demand and a significant increase in energy efficiency regulation due to urbanization and industrialization. From the perspective of the terminal industry, the oil and gas industry has driven the entire exchange-driven market in 2015 and is expected to maintain the largest market share during the forecast period. These drivers are mainly used to control the speed of industrial pumps and compressors and help reduce energy consumption. According to the rated power, the low-power driver is expected to take the largest market share in the global market during the forecast period. The demand for low-power drives is driven by industries such as construction, automation, food and beverage, oil and gas, and pulp and paper. The low power driver provides a fast payback period because of its low cost, high energy saving, enhanced motor control and better process control. By region, the Asia-Pacific region is expected to be the fastest growing region. It is expected that the demand for energy efficiency and rapid industrialization in the region will drive the growth of the Asia-Pacific market between 2016 and 2021. The report also analyzes some leading enterprises in the communication-driven market, including ABB (Switzerland)Siemens (Germany), Danfoss Group (Denmark), Schneider Electric SE (France)Rockwell Automation (United States)And Mitsubishi Electric (Japan). The report said that leading enterprises are trying to penetrate the markets of developing economies and are adopting various strategies to increase their market share.
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