Global Low Voltage Drives Market - Growth, Trends, and Forecast (Outlook to 2028)

Market overview

Increased demand for automated and motor-driven equipment, the necessity for energy conservation to preserve the environment, and government regulations for energy optimization drive the market's growth.

A drive is a device that regulates the speed of an electrical motor to enhance process control, minimize energy use and mechanical stress in motor control applications, and maximize the performance of the numerous applications that rely on electric motors.

Low voltage drives are used to control the speed and torque of standard motors. Because of the following characteristics, their primary use is in industries.

• Soft starting and reversing of the motor
• Accurate speed control
• Dynamic torque regulation
• High power factor
• Flexible user interface
• High efficiency

The use of low voltage drives has many advantages such as:

• Less energy consumption
• Increased productivity and output
• Minimal mechanical wear of the equipment
• High process quality and reliability
• Improved process equipment efficiency
• Less chance of harm to the electrical supply system

Less energy usage means lower production costs. This feature broadens its use to include a variety of industrial equipment and machines. Due to their energy efficiency, low voltage AC drives make equipment more ecologically friendly, notably in the mining industry.

Another essential aspect is that it modifies the speed based on the situation. This is critical in many industries, notably in construction, gas & oil, and mining, where extensive drilling is necessary.

Low voltage drives have a wide variety of applications in practically all industrial machines where excellent performance and changing speed are required but not at a huge power expense. These comprise material-handling machinery such as a belt conveyor, crane, compressor, pump, etc.

They are also utilized in textile machineries such as palletizers, pumps, and compressors. Significant use is in the mining sector, where drilling, excavating, and crushing are necessary.

Market developments and trends

• Due to the rise in activities in industries such as utilities, petrochemicals, mining, and cement, the demand for low voltage drives increases. AC drives with low voltage are used in conveyors, compressors, pumps, fans, and kiln applications in these industries. The growing use of drives in the power generation and automation sectors are also propelling the market.
• Drives in Asia, Australia, and Europe are in demand due to the growing construction and mining markets. Residential construction activity is expanding in emerging nations like China and India, resulting in a significant demand for low voltage drives market.
• In Asia, investments in the energy-intensive sectors and manufacturing, while simultaneously focusing on energy conservation and renewable energy sources to curtail costs, are likely to drive the market's long-term growth.
• Due to the increase in activities in oil and gas industries globally, the demand for low voltage drives is increasing because of its ability to control flow efficiently and optimize energy use. The United Kingdom, Germany, Italy and Norway are the key European countries investing in the production and development of oil and gas to lessen their reliance on other nations, which benefits the low voltage drive industry.

Opportunities

• Compressors have been attracting attention in recent years because of their large power consumption at plants and offices. By controlling the number of motor revolutions according to the amount of air used with low voltage drives, these compressors are highly effective in saving energy. Since the demand for compressors is likely to increase, opportunity for the manufacturers lies in installing a compressor with an low voltage drive or retrofitting the existing compressors with low voltage drives.
• Because of stringent government regulations aimed at increasing sustainability, the automobile sector is expected to be a key market for low voltage drive manufacturers. Low voltage systems are anticipated to strive to improve EV safety and performance.

Blackridge Research's Low Voltage Drives Market report provides insights into the current global and regional market demand environment and prognosis.

The study offers a thorough examination of the many factors that impact the low voltage drives market growth. The study also comprehensively analyses the low voltage drives market by segmenting it based on geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America).

The report also discusses current, and future market possibilities, market trends, advancements, and the effect of Covid-19 on the low voltage drives market, essential developments, regions, and segments poised for the fastest-growth, competitive landscape. Further, the low voltage drives market size and demand forecast, growth rates will also be provided in the report.