DC drive Market
DC drive Market - By Voltage Rating, By Power Rating, By End Users & Global Region - Market Size, Trends, Opportunity, Forecast 2021-2025Request Sample Request Discount
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The global DC drive market size was estimated at USD 2.4 billion in 2019 and is expected to reach USD 4.1 billion by 2025, growing with a CAGR of 5.2% over the forecasted period of 2021 to 2025. DC drives are also known as DC motor speed control systems. A DC drive is known as an electronic device used to regulate and control a DC motor's speed by making changes in the flow of current through the motor. DC drive has various industrial processes like assemble lines operate at different speeds for different products. Moreover, a DC drive is the equipment used to control a speed, current, and tension on a Direct Current Motor or DC Motor to possess a certain process transformation under control.
DC drive and motors are common in industries like cranes, metals, printing and mining. The latest current is to replace the DC system with new AC drives and drives to decline maintenance overhead. Moreover, using an existing DC drive and upgrading the DC drives is the most attractive option. DC drives are great built and capable of providing many more years of service, which also helps minimize the lower project costs and minimize risks and disruptions. Also, DC drives are utilized across various industrial segments including power generations, chemicals, mining & material, oil & gas, and automotive. DC drive helps in raising the overall system reliability and decreasing technology cost by distributing peak performance. Moreover, control techniques DC drives are based on our leading AC drive technology to deliver great motor reliability, performance, and system integration options, resulting in boosting the DC drive market. Furthermore, DC drivers are electric equipment that diminishes the electric consumption in motors by regulating motor speed at variable loads. Rising need for energy-efficient system is projected to drive the DC drive market.
Rising demand for energy and electricity and the increasing cost of energy are projected to boost the global DC market demand at a significant rate. Moreover, the benefits of utilizing DC drives such as reduced energy consumption and efficient energy consumption are expected to create a great opportunity for the growth of DC drive market in the coming years. Furthermore, the raising adaptability of electronic vehicles is further expected to drive the DC drive demand over the forecast period. Raising modernization and automation in manufacturing industries to increase production is expected to increase its sale shortly. However, the high cost of DC technology is a key factor that hampers this factor's growth.
The Asia-Pacific market holds the major share in the year 2019 and is expected to retain its dominant during the forecast period due to increasing building infrastructure and large investment in this region. Moreover, North America and Europe follows Asia-Pacific in terms of the market growth in the DC drive market growth. A great amount of development in the developed nations is further augmenting the growth of market. Moreover, rising technological advancement in the DC drive is expected to boost the market demand.
The DC drive market is segmented into up to 240 V, 240-600 V, and 600 V & above by voltage rating analysis. The up to 240 V segment holds the major market share and it is expected to retain its dominance during the forecast period. Up to 240 V DC drives are most commonly used in industrial application and processing industries, raising the demand for this segment.
On the basis of power rating, the DC drive market is divided into low, medium, and high power. The power segment holds the major share due to the increase in DC drive used to increase production efficiently and effectively.
By end-users, the DC drive market is segmented into oil & gas, power generation, water & wastewater, building automation, food & beverage, metals & mining, chemicals & petrochemicals, etc. The power and oil & gas generation are the prime major industries where direct current drives are deployed for a wide range of applications. Moreover, the food & beverages industry and chemicals & petrochemicals industry are also utilizing DC drives to control and maintain the DC motor's speed due to its possession of technical benefits.
Key Companies Profiled
The global DC drive market is characterized by the presence of various small and big players. The major market player ABB Ltd., Siemens Ag, Schneider Electric Se, Rockwell Automation, Mitsubishi Electric Corporation, Crompton Greaves Limited, Toshiba International Corporation Ltd., Danfoss Group, Parker Hannifin Co., Emerson Electric Co., American Electric Technologies Inc. and Ge Power Conversion. As the market is competitive in nature, the players indulge in raising their competitive share through strategic initiatives like mergers, new products, and acquisitions.
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