AC Drives Market

AC drives regulate the speed and torque of electric motors that use alternating current (AC). Adjustable-frequency drives (AFDs), inverter drives, and variable-frequency inverters are additional names for these devices (VFDs). AC drives are used in a variety of applications, such as pumps, fans, compressors, material handling, machine tools, and infrastructure projects.

The global market for AC drives was worth $XX billion in 2018 and is anticipated to reach $XX billion by 2031, expanding at a CAGR of XX% during the forecast period (2018–2031).The major factors driving the growth of the AC drive market are the increasing demand for energy-efficient devices and the increasing adoption of AC drives in the HVAC industry. The growing need to reduce greenhouse gas emissions and stringent government regulations regarding energy efficiency also contribute to the market's expansion. However, the high cost of installation and maintenance inhibits market expansion.

Additionally, the need to reduce carbon footprints and adhere to stringent government regulations is driving demand for AC drives. Moreover, the growing adoption of Industry 4.0 and Internet of Things (IoT)-enabled devices is creating new opportunities for AC drive market vendors.

Among other major regions, the market has been segmented into North America, Europe, Asia-Pacific, and South America. In the regional segment, in-depth analyses of the United States, Germany, the United Kingdom, Italy, France, China, Japan, South Korea, Southeast Asia, and India will be given.

ABB Ltd., Danfoss A/S, Siemens AG, Schneider Electric SE, and Eaton Corporation plc are some of the leading companies in the market for AC drives.