Outlook on the Low Voltage Electric Drives Global Market to 2027 - Automotive Industry is Expected to Boost the Demand - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Low Voltage Electric Drives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)" report has been added to ResearchAndMarkets.com's offering.

The Global Low Voltage Drives market is anticipated to grow at a CAGR of 4.3% between 2022 and 2027.

Companies Mentioned

• ABB Ltd.
• Siemens AG
• Hitachi, Ltd.
• Nidec Corporation
• Rockwell Automation
• Beckhoff Automation
• Johnson Controls
• Yaskawa America, Inc.
• Schneider Electric
• Hiconics Eco-energy Technology Co., Ltd.
• Schneider Electric, Fuji Electric Co., Ltd.,
• CG Power & Industrial Solutions Ltd.

Key Market Trends

Automotive Industry is Expected to Boost the Demand

• The automotive low-voltage drive market will be boosted by the continuing expansion of automotive production capacity, as well as rising energy consumption in new manufacturing facilities in emerging nations. The consumer focus has switched toward adopting these drives as a result of the paradigm shift toward acceptance of electric autos among end-users, in conjunction with the growing demand to increase vehicle safety.
• Furthermore, increased government emphasis on the expansion of e-mobility cars in accordance with their uses in tough areas and their capacity to withstand high shock loads and vibration levels has boosted product penetration. Consumers expect more from electric vehicles, and increasing the voltage is the simplest approach to improve the power of electric drives. This merely exacerbates the problem of electrical safety.
• Volabo, an Ansys Startup Program member, proposes a low-voltage electric drive that runs on only 48 volts, a safe-to-touch voltage. Volabo also employs an intelligent stator cage drives (ISCAD) system. The configuration replaces the most expensive component of an electric motor, copper winding, with inexpensive and simple-to-manufacture aluminum bars.
• Furthermore, nanoFlowcell has developed technology that enables low-voltage electric drive in a freestanding system without the use of huge supercapacitors. This advancement will be exhibited in the Quant 48Volt variant. The nanoFlowcell's capacity to deliver so much power from such a low-voltage system contributes to the design's inherent safety.

Asia-Pacific is Expected to Dominate the Low Voltage Drives

• The Asia-Pacific Low Voltage Drives market is expected to grow rapidly between 2022 and 2027 as a result of the implementation of energy efficiency rules and rising demand for optimum energy solutions. The market landscape would be augmented by growing industrialization investments and a thriving real estate sector. Several government initiatives aimed at expanding EV coverage will result in increased EV accessory demand, further increasing market demand.
• DC low voltage drives are expected to expand significantly through 2027, owing to rising consumer disposable income and rising urbanization rates, mainly in emerging countries. The continuing repair and retrofitting of electrical networks as a result of stringent building emissions regulations will increase industrial demand. The product has several major advantages, including reduced maintenance, increased efficiency, and ease of implementation, which help to accelerate the market landscape.
• This expansion is due to attractive government incentives for creating sustainable transportation and other industry activities. Continuous product innovation in tandem with continued technical expansion across the electrical infrastructure will drive market growth. Also, this can be due to the rise in demand for oil & gas, power, and food processing in the region.
• ABB, for instance, introduced flameproof (FLP) low voltage motors in India in January 2022. It operates safely and reliably in explosive situations and is available in IE2 and IE3 efficiency classes. The offering includes remote monitoring, which expands the company's product line in the country.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS

4.1 Market Overview

4.2 Industry Attractiveness -Porter's Five Forces Analysis

4.3 Industry Value Chain Analysis

4.4 Impact of COVID-19 on the Market

5 MARKET DYNAMICS

5.1 Market Drivers

5.1.1 Increasing focus toward energy efficiency and energy levels

5.1.2 Accelerating the Automotive Industry's Growth

5.2 Market Challenges

5.2.1 High Implementation Cost

6 MARKET SEGMENTATION

6.1 Type

6.1.1 AC Drives

6.1.2 DC Drives

6.1.3 Servo Drives

6.2 End-User Industry

6.2.1 Automotive

6.2.2 Oil & Gas

6.2.3 Chemical & Petrochemical

6.2.4 F&B

6.2.5 Water & Wastewater

6.2.6 Power Generation

6.2.7 Metal & Mining

6.2.8 Pulp & Paper

6.2.9 HVAC

6.2.10 Discrete Industries

6.2.11 Other End-user Industries

6.3 Geography

7 VENDOR MARKET SHARE

8 COMPETITIVE LANDSCAPE

8.1 Company Profiles

8.1.1 ABB Ltd

8.1.2 Siemens AG

8.1.3 Hitachi, Ltd

8.1.4 Nidec Corporation

8.1.5 Rockwell Automation

8.1.6 Beckhoff Automation

8.1.7 Johnson Controls

8.1.8 Yaskawa America, Inc

8.1.9 Schneider Electric

8.1.10 Hiconics Eco-energy Technology Co., Ltd

8.1.11 Schneider Electric, Fuji Electric Co., Ltd.,

8.1.12 CG Power & Industrial Solutions Ltd

9 INVESTMENT ANALYSIS

10 FUTURE MARKET OUTLOOK

For more information about this report visit https://www.researchandmarkets.com/r/kf2yss.