Pune, Feb. 05, 2020 (GLOBE NEWSWIRE) -- The global direct current (DC) drives market is anticipated to gain impetus from the increasing number of awareness programs regarding the adoption of energy-efficient systems. Additionally, these drives possess more technical advantages as compared to the AC drives. Fortune Business Insights™ provided this information in a recent report, titled, “Direct Current (DC) Drives Market Size, Share & Industry Analysis, By Voltage Rating (Up to 240 V, 240 - 600 V, and 600 V & Above), By Power Rating (Up to 250 kW, 251 - 500 kW, and 500 kW & Above), By End User (Oil & Gas, Power Generation, Food & Beverage, Chemicals & Petrochemicals, Metal & Mining, Water & Wastewater, Building Automation, and Others), and Regional Forecast, 2019-2026.” As per the report, the DC drives market size is projected to reach USD 6.71 billion by 2026, thereby exhibiting a CAGR of 5.7% during the forecast period. However, it stood at USD 4.34 billion in 2018.
What Does This Report Contain?
- Elaborate details about the direct current drives market growth, barriers, opportunities, and challenges.
- List of all the segments and the niche regions present in the market.
- Competitive landscape consisting of new product launches, contracts, agreements, strategic partnerships, investments, and mergers and acquisitions.
- Vital business strategies of major market players.
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Possession of Numerous Benefits Set to Boost Market Growth
DC drives offer single power conversion from AC and are less complicated. An inverter drive is considered as a bridge between the load and the supply. However, DC drives are compact as compared to the inverter drives. They are also cost-effective and are mainly used in those applications that require persistent regeneration for overhauling loads. All these factors would propel the market growth in the coming years.
Up to 240 V Segment to Be Positively Affected by Increasing Demand from Processing Industry
On the bases of voltage rating, the market is fragmented into 240 - 600 V, up to 240 V, and 600V & above. Out of these, the up to 240 V segment procured 43.5% direct current drives market share in 2018 and is likely to grow rapidly in the near future. This growth is attributable to their high demand from the processing industry. Additionally, they are used in several other applications, such as extruder screws, spindles, boring machines, milling machines, conveyors, fans, and pumps. The 240 - 600 V segment would also grow steadily because of their rising usage in material-handling and packaging equipment, commercial lifts, industrial pumping systems, and miniature lathes and mills.
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Rising Economic Development to Favor Growth in Asia Pacific
In terms of region, the market is grouped into the Middle East and Africa, North America, Asia Pacific, Europe, and Latin America. Amongst them, Asia Pacific acquired USD 1.25 billion DC drives market revenue in 2018. The region would grow at a fast pace owing to the ongoing development in Indonesia, Australia, Japan, India, and China. It is resulting in a robust economic growth. China has taken a step forward to enhance its importance in the global economy. Besides, the modernization of industrial infrastructure and high demand for energy-efficient systems would drive growth in Asia Pacific.
Europe and North America would follow the footsteps of Asia Pacific and experience considerable growth during the forthcoming years. In North America, Canada and the U.S. are exhibiting high growth of the oil and gas sector. In the European countries, the food & beverage industry is deploying DC drives the most. Latin America and the Middle East & Africa, on the other hand, would also showcase significant growth backed by the increasing application of DC drives in the chemicals and petrochemicals plants, as well as oil production & exploration activities.
CG Power & Industrial Solutions Unveils New Compact Variable Speed Drives
Renowned enterprises present in the market are keeping up with the latest direct current market trends to get an insight into their consumers’ requirements. They are launching novel products to widen their portfolio and geographic presence. Below is one of the latest key developments:
June 2019: CG Power and Industrial Solutions Limited, an Indian multinational company announced the launch of its new Emotron VSM and Emotron VSX series. They are the company’s latest additions to its variable speed drives meant for complex applications. The series are not only compact in size but are also packed with unique features.
Fortune Business Insights™ profiles some of the most prominent companies present in the DC drives market. They are as follows:
- Schneider Electric
- ABB
- Nidec Motor Corporation
- Siemens
- Renown Electric Motors
- Rockwell Automation
- GE Power Conversion
- Parker Hannifin
- Toshiba International Corporation Ltd.
- Crompton Greaves Limited
- Crompton Greaves Limited
- Danfoss
- American Control Electronics
- Other key players
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Global Direct Current (DC) Drives Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Voltage Rating
- Up to 240 V
- 240 - 600 V
- 600 V & Above
- Market Analysis, Insights and Forecast – By Power Rating
- Up to 250 kW
- 251 - 500 kW
- 500 kW & Above
- Market Analysis, Insights and Forecast – By End-User
- Oil & Gas
- Power Generation
- Food & Beverage
- Chemicals & Petrochemicals
- Metal & Mining
- Water & Wastewater
- Building Automation
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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