Selbyville, Delaware, July 20, 2021 (GLOBE NEWSWIRE) --
The Middle East & Africa Low Voltage Drives Market is projected to cross USD 700 million by 2027, as reported in the latest study by Global Market Insights Inc. rising adoption of sustainable energy systems along with the introduction of mandates & norms to improve the efficiency levels will drive the industry scenario. The resurgence in heavy industries along with large scale growth in the O&G industry will propel the business dynamics.
The micro drives segment is projected to grow on account of its increasing utilization in various commercial and industrial applications equipped with a power rating of < 2.2 kW to 22 kW. The growing demand for energy-efficient electrical equipment coupled with the rising dependency on reliable systems will influence the product penetration. The systems offer a wide range of step less and smooth speed control in a highly efficient manner, stimulating the demand for enhanced system deployment.
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Increasing investments for the development of commercial establishments coupled with the growing awareness toward environment safety are set to drive < 2.2 kW segment growth. The refurbishment & retrofitting of the electrical network across government offices owing to stringent building emission and energy efficiency norms will strengthen the business scenario.
Some prime findings of the Middle East & Africa low voltage drives market report include:
- Rising population, higher standards of living, and higher disposable incomes in the rapidly evolving economies of the region.
- The growing automotive sector owing to the increasing demand for automobiles.
- The key players operating across the Middle East & Africa LV drives industry include Siemens, ABB, Danfoss, Nidec Corporation, Fuji Electric, WEG, Rockwell Automation, and Mitsubishi Electric Corporation.
- Shifting focus toward the adoption of alternative energy sources to address the load shedding issues.
Browse key industry insights spread across 300 pages with 457 market data tables & 32 figures & charts from the report, “Middle East & Africa Low Voltage Drives Market Forecasts By Power Range (Micro Drives, Low Drives), Capacity (< 2.2 kW, 2.2 kW - 7.4 kW, 7.5 kW - 22 kW, 23 kW - 75 kW, 76 kW - 110 kW, 111 kW - 500 kW, > 500 kW), Drive (AC, DC, Servo), Technology (Standard Drives, Regenerative Drives), System (Open Loop, Closed Loop), Application (Pump, Fan, Conveyer, Compressor, Extruder), End-Use (Oil & Gas, Power Generation, Food Processing, Automotive, Mining & Metals, Pulp & Paper, Textile, Marine), Industry Analysis Report, Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/middle-east-and-africa-low-voltage-drives-market
The O&G industry is essentially dependent on reliable and active operations of large compressors & pumps, which is set to create a cyclical product demand. Lower environmental impact, high reliability, and improved efficiency are some of the key parameters accelerating the use of low voltage drives in this sector. The growing spending across O&G industry's subsectors including downstream, midstream, and upstream will further stimulate the Middle East & Africa low voltage drives market demand.
The growing presence of new HVAC and heavy load machinery combined with the increasing high-end electricity consumption will influence the adoption of AC drives. They offer accurate and step-less control of the motor torque & speed in an efficient, low maintenance, and compact size package. The systems offer built-in functions, networking capabilities, complex control, and freedom from mechanical resonance & inertia, complimenting the Middle East & Africa low voltage drives market expansion.
During COVID-19, declining investments in the oil & gas sector and increasing investments in industries along with limited new product offerings will impact the overall product demand. The increasing demand for refurbishment and replacement of the existing infrastructure followed by the ongoing government efforts to effectively deal with the current scenario will strengthen the industry landscape.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/middle-east-and-africa-low-voltage-drives-market
Browse Related Report:
Low Voltage Drives Market By Power Range (Micro, Low), Capacity (<2.2 kW, 2.2-7.4 kW, 7.5-22 kW, 23-75 kW, 76-110 kW, 111-500 kW, >500 kW), Drive (AC { By Efficiency [IE1, IE2, IE3, IE4,]}, DC, Servo), Technology (Standard, Regenerative), System (Open Loop, Closed Loop), Application (Pump, Fan, Conveyor, Compressor, Extruder), End-Use (Oil & Gas, Power Generation, Food Processing, Automotive, Mining & Metals, Pulp & Paper, Textile, Marine), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast to 2025
https://www.gminsights.com/industry-analysis/low-voltage-drives-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.