The global AC drives market size was USD 10.39 billion in 2018 and is projected to reach USD 15.62 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period. The rising awareness about green energy sources across the world is transforming the energy and power industry. The trend of green energy is emerging on account of increasing environmental pollution from traditional energy resources. Governments are playing a significant role in conducting awareness programs about clean energy. Fortune Business Insights in a report, titled “AC Drive Market Size, Share and Global Trend Forecast till 2026” published the above information.
To Gain More Insights into the AC Drive Market Analysis, Browse Summary of the Research Report – https://www.fortunebusinessinsights.com/industry-reports/ac-drive-market-100728
Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Top Players Overview:
Some of the leading players operating in the global AC Drive market include;
- ABB Ltd.
- Siemens AG
- Danfoss Group
- Mitsubishi Electrical Co. Ltd.
- Fuji Electric Holdings
- Emerson Electric Co.
- Hitachi Ltd.
- Parker Hannifin Co.
- Toshiba International Corporation Ltd.
- Schneider Electric
- Rockwell Automation
- Yaskawa Electric Corporation
- WEG S.A
- Hiconics Drive Technology Co. Ltd.
- Parker Hannifin Co
The rising instability in crude oil prices is expected to positively impact the growth of the AC Drive Market. Rising privatization and relaxation in the FDI norms are factors enabling growth in the market. Also, governments are heavily investing in power projects, which in turn, may fuel demand for energy and power plants across the globe.
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Key Segmental Overview:
- By Voltage
- By Type
- By Application
- By End User
- By Geography
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive the competition and maintain their stronghold.
- North America (The USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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