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Report
India AC Drives Market Report and Forecast 2023-2028
Market Report I 2023-04-18 I 104 Pages I EMR Inc.
India AC Drives Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the India AC drives market is projected to grow at a CAGR of 8.93%, aided by the growing industrialisation and increasing focus on energy efficiency in the country.
AC drives, also known as variable frequency drives (VFDs) or adjustable speed drives, are electronic devices used to control the speed and torque of electric motors, primarily in industrial applications. These drives offer several benefits, such as improved process control, reduced energy consumption, and extended equipment life. AC drives are widely used across various industries, including oil and gas, power generation, water and wastewater, food and beverage, and metals and mining. The growth of the India AC drives market is primarily driven by the rapid industrialisation in the country. As various industries continue to expand, there is an increasing demand for efficient motor control solutions that can optimise energy consumption and reduce operational costs. AC drives help in achieving these goals by adjusting the motor speed according to the load requirements and providing better process control.
Another key factor contributing to the growth of the India AC drives market is the increasing focus on energy efficiency. With the rising energy costs and growing concerns over environmental impacts, industries are looking for ways to minimise energy consumption and reduce their carbon footprint. AC drives play a crucial role in this context, as they can significantly reduce energy consumption by allowing motors to operate at optimal efficiency. Moreover, the Indian government's initiatives to promote energy conservation and renewable energy sources further support the growth of the market. The rising demand for automation in various sectors is also propelling the growth of the India AC drives market. As industries strive to improve productivity and efficiency, they are increasingly adopting automation technologies, including AC drives, which can enhance process control and reduce downtime. The use of AC drives in automation systems not only helps in achieving better control over processes but also aids in reducing energy consumption and maintenance costs.
Furthermore, the growing adoption of smart manufacturing practices in India, such as Industry 4.0 and the Industrial Internet of Things (IIoT), is creating new opportunities for the India AC drives market. These advanced manufacturing technologies involve the integration of various automation systems, including AC drives, which can communicate and work together to optimise industrial processes. As more industries adopt smart manufacturing practices, the demand for AC drives is expected to grow further. In addition to these factors, the India AC drives market is also benefiting from the ongoing infrastructure development in the country. As the Indian government invests in the development of new power plants, water treatment facilities, and transportation systems, the need for efficient motor control solutions, such as AC drives, is expected to increase. Moreover, the modernisation of existing industrial facilities to meet global standards also contributes to the growth of the India AC drives market.
Market Segmentation?
The market can be divided on the basis of product type, power rating, application, end use, and region.
Market Breakup by Product Type
- Low Voltage Drives
- Medium Voltage Drives
- Soft Starter
Market Division by Power Rating
- Low Power Drives
- Medium Power Drives
- High Power Drives
Market Segregation by Application
- Compressor
- Conveyors
- Fans
- Extruders
- Pumps
- Others
Market Breakup by End Use
- Transportation and Infrastructure
- Metal Processing
- Chemical
- Solar System
- Power
- Oil and Gas
- Others
Market Division by Region
- North India
- East India
- South India
- West India
Competitive Landscape?
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the India AC drives companies. Some of the major key players explored in the report by Expert Market Research are as follows:?
- ABB India Ltd
- Siemens Limited
- Danfoss A/S
- Hitachi Hi-Rel Power Electronics Private Limited
- Yaskawa India Private Limited
- Rockwell Automation Inc.
- Schneider Electric SE
- Kirloskar Electric Company Ltd.
- Amtech Electronics India Limited
- Delta Electronics, Inc.
- CG Power & Industrial Solutions Ltd.
- Fuji Electric India Pvt Ltd
- Shenzhen INVT Electric Co Ltd
- Inovance Technology Pvt, Ltd
- Mitsubishi Electric India Pvt. Ltd.
- Others
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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.?
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 India AC Drives Market Analysis
8.1 India AC Drives Historical Market (2018-2022)
8.2 India AC Drives Market Forecast (2023-2028)
8.3 India AC Drives Market by Product Type
8.3.1 Low Voltage Drives
8.3.1.1 Historical Trend (2018-2022)
8.3.1.2 Forecast Trend (2023-2028)
8.3.2 Medium Voltage Drives
8.3.2.1 Historical Trend (2018-2022)
8.3.2.2 Forecast Trend (2023-2028)
8.3.3 Soft Starter
8.3.3.1 Historical Trend (2018-2022)
8.3.3.2 Forecast Trend (2023-2028)
8.4 India AC Drives Market by Power Rating
8.4.1 Low Power Drives
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Medium Power Drives
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 High Power Drives
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.5 India AC Drives Market by Application
8.5.1 Compressor
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Conveyors
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Fans
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Extruders
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Pumps
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
8.5.6 Others
8.6 India AC Drives Market by End Use
8.6.1 Transportation and Infrastructure
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Metal Processing
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Chemical
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Solar System
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Power
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
8.6.6 Oil and Gas
8.6.6.1 Historical Trend (2018-2022)
8.6.6.2 Forecast Trend (2023-2028)
8.6.7 Others
8.7 India AC Drives Market by Region
8.7.1 Market Share
8.7.1.1 North India
8.7.1.2 East India
8.7.1.3 South India
8.7.1.4 West India
9 Regional Analaysis
9.1 North India
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 East India
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 South India
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 West India
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
10 India LV Drive System Market Analysis
10.1 India LV Drive System Historical Market (2018-2022)
10.2 India LV Drive System Market Forecast (2023-2028)
10.3 India LV Drive System Market by Type
10.4 India LV Drive System Market by Application
10.5 India LV Drive System Market by Rating
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter's Five Forces Analysis
11.2.1 Supplier's Power
11.2.2 Buyer's Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Competitive Landscape
12.1 Market Structure
12.2 India Low Voltage AC Drive Market Share by Top 5 Players
12.3 India Medium Voltage AC Drive and Others Market Share by Top 5 Players
12.4 Company Profiles
12.4.1 ABB India Ltd
12.4.1.1 Company Overview
12.4.1.2 Product Portfolio
12.4.1.3 Demographic Reach and Achievements
12.4.1.4 Certifications
12.4.2 Siemens Limited
12.4.2.1 Company Overview
12.4.2.2 Product Portfolio
12.4.2.3 Demographic Reach and Achievements
12.4.2.4 Certifications
12.4.3 Danfoss A/S
12.4.3.1 Company Overview
12.4.3.2 Product Portfolio
12.4.3.3 Demographic Reach and Achievements
12.4.3.4 Certifications
12.4.4 Hitachi Hi-Rel Power Electronics Private Limited
12.4.4.1 Company Overview
12.4.4.2 Product Portfolio
12.4.4.3 Demographic Reach and Achievements
12.4.4.4 Certifications
12.4.5 Yaskawa India Private Limited
12.4.5.1 Company Overview
12.4.5.2 Product Portfolio
12.4.5.3 Demographic Reach and Achievements
12.4.5.4 Certifications
12.4.6 Rockwell Automation Inc.
12.4.6.1 Company Overview
12.4.6.2 Product Portfolio
12.4.6.3 Demographic Reach and Achievements
12.4.6.4 Certifications
12.4.7 Schneider Electric SE
12.4.7.1 Company Overview
12.4.7.2 Product Portfolio
12.4.7.3 Demographic Reach and Achievements
12.4.7.4 Certifications
12.4.8 Kirloskar Electric Company Ltd.
12.4.8.1 Company Overview
12.4.8.2 Product Portfolio
12.4.8.3 Demographic Reach and Achievements
12.4.8.4 Certifications
12.4.9 Amtech Electronics India Limited
12.4.9.1 Company Overview
12.4.9.2 Product Portfolio
12.4.9.3 Demographic Reach and Achievements
12.4.9.4 Certifications
12.4.10 Delta Electronics, Inc.
12.4.10.1 Company Overview
12.4.10.2 Product Portfolio
12.4.10.3 Demographic Reach and Achievements
12.4.10.4 Certifications
12.4.11 CG Power & Industrial Solutions Ltd.
12.4.11.1 Company Overview
12.4.11.2 Product Portfolio
12.4.11.3 Demographic Reach and Achievements
12.4.11.4 Certifications
12.4.12 Fuji Electric India Pvt Ltd
12.4.12.1 Company Overview
12.4.12.2 Product Portfolio
12.4.12.3 Demographic Reach and Achievements
12.4.12.4 Certifications
12.4.13 Shenzhen INVT Electric Co Ltd
12.4.13.1 Company Overview
12.4.13.2 Product Portfolio
12.4.13.3 Demographic Reach and Achievements
12.4.13.4 Certifications
12.4.14 Inovance Technology Pvt, Ltd
12.4.14.1 Company Overview
12.4.14.2 Product Portfolio
12.4.14.3 Demographic Reach and Achievements
12.4.14.4 Certifications
12.4.15 Mitsubishi Electric India Pvt. Ltd.
12.4.15.1 Company Overview
12.4.15.2 Product Portfolio
12.4.15.3 Demographic Reach and Achievements
12.4.15.4 Certifications
12.4.16 Others
13 Key Trends and Developments in the Market
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