Global Electric Drives Market Size , Demand , Forecast To 2031 menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Global AC Drives Market size was valued at USD 14.8 Billion in 2022 and is projected to reach USD 23.28 Billion by 2030, growing at a CAGR of 6.49% during the forecast period.
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New York, April 01, 2021 (GLOBE NEWSWIRE) Reportlinker.com announces the release of the report AC Drives Market Research Report by Voltage, by Power Rating, by Application, by Industry - Global Forecast to 2025 - Cumulative Impact of COVID-19 - https://www.reportlinker.com/p05953148/?utm source=GNW
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The report provides market sizing and forecast across five major currencies - USD, EUR GBP, JPY, and AUD. This helps organization leaders make better decisions when currency exchange data is readily available.
1. The Global AC Drives Market is expected to grow from USD 14,856.46 Million in 2020 to USD 21,056.39 Million by the end of 2025.
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In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Electric Drives Market Report
The electric drives market by revenue is expected to grow at a CAGR of over 4.6% during the period 2021-2026.
The global market is expected to grow during the forecast period with the growth in industrial production, enhancement in technological advancement, increase in urbanization, and expansion of industries. Owing to the high energy cost associated with industrial motors, several players in end-user industries are focusing on incorporating energy-efficient techniques. Electric drives are one such variety of technology that delivers a highly-efficient production process at a low cost. As the electricity consumption is the major cost component across end-user industries, the demand for electric drives is expected to increase at a considerable rate during the forecast period. Furtherm
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