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Electric Drive Market Size to Reach Revenues of around USD 29 Billion by 2026

Share this article Share this article CHICAGO, Feb. 1, 2021 /PRNewswire/ In-depth analysis and data-driven insights on the impact of COVID-19 included in this global electric drives market report. The global electric drives market is expected to grow at a CAGR of over 4.6% during the period 2020−2026. Key Highlights Offered in the Report:   The metals and mining and oil & gas industries are major revenue generators for electric drives owing to the heavy use of pumps, conveyors, hoists, cranes, and several other heavy equipment that consume more electricity. Approximately 40% of the electricity used in industries is consumed by pump and fan systems, driving the demand for electric drives is expected to be high in those segments that largely rely on pumps and fans.

Variable Frequency Drive (VFD) Sales Set to Grow Beyond 5% by 2031 as Automation Penetration Deepens: Future Market Insights Study

(1) DUBAI, UAE / ACCESSWIRE / January 20, 2021 / Global Variable Frequency Drive (VFD) volume sales surpassed 32 million units in 2020. The demand for VFD is still expected to augment due to improving reliability and performance. Moreover, VFD developments are inclining towards industry-specific solutions which are creating competition among leading companies. Leading research and consulting firm, Future Market Insights (FMI), in its latest study, finds that the market is set to grow at a value CAGR exceeding 5? through 2031. Worldwide Capital Infrastructure Projects to Influence Production Among Manufacturers Capital Infrastructure Projects are part and parcel of urbanization. These projects are set to contribute to economic growth in the long run. Therefore, emerging economies in Asia are seen as a lucrative market because of construction activities and automation industry productions surge vigorously.

Variable Frequency Drives (VFD) Market 2021 Industry Size, Share, Price, Trend and Forecast to 2026

Variable Frequency Drives (VFD) Market 2021 Industry Size, Share, Price, Trend and Forecast to 2026
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AC Drives Market 2021: Competitive Landscape, Analysis of Industry Share, Growth Status, Segmentation Analysis and Forecast

AC Drives Market 2021: Competitive Landscape, Analysis of Industry Share, Growth Status, Segmentation Analysis and Forecast
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Electric Motors Market Economic Impact, Evaluation, Strategic Acquisitions, Global Industry Insights and Research Methodology by Forecast to 2026

Electric Motors Market Economic Impact, Evaluation, Strategic Acquisitions, Global Industry Insights and Research Methodology by Forecast to 2026
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