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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
India AC Drives Market Outlook
The India AC drives market is expected to grow at a CAGR of 8.93% in the forecast period of 2024-2032.
| India AC Drives Market Report Summary | Description | Value |
| Base Year | USD Million | 2023 |
| Historical period | USD Million | 2018-2023 |
| Forecast Period | USD Million | 2024-2032 |
| Market Size 2023 | USD Million | XX |
| Market Size 2032 | USD Million | XX |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 8.93% |
| CAGR 2024-2032 - Market by Region | North India | 31.2% |
| CAGR 2024-2032 - Market by Type | Low Voltage Drives | 9.5% |
| CAGR 2024-2032 - Market by End Use | Solar System | 10.2% |
| Market Share by Region 2023 | North India | 31.2% |
Rising Demand for Low Power AC Drives to Spearhead the Growth of the India AC Drives Industry
Based on power rating, the low power drives (<40 kW) segment is predicted to hold a significant market share in the India AC drives industry. This can be attributed to the increased implementation of low power AC drives owing to the heightened demand for AC motors in automation and other industrial applications.
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Meanwhile, based on voltage, the heightened demand for low voltage AC drives is expected to further aid the market growth. The low cost and increased usage of this type in both low and medium-power applications is driving the segment growth. These factors are expected to contribute to the overall market growth in the forecast period.
Increasing Demand for Automation to Provide Lucrative Opportunities for the AC Drives Industry Growth in India
On the basis of end use, the automation industry is estimated to hold a substantial share of the India AC drives industry. This can be attributed to the rapid technological improvements and the growing acceptance of technology in the region, which is expected to drive the demand for AC drives in the automation industry. Moreover, the expanding oil and gas and energy sectors in the region, with the heightened demand for heavy machinery, is also expected to positively impact the industry growth in the forecast period.
| Market Share by | Region |
| North India | 31.2% |
| East india | XX% |
| South India | XX% |
| West India | XX% |
| CAGR 2024-2032 - Market by | Region |
| South India | 9.5% |
| East india | 9.2% |
| North India | XX% |
| West India | XX% |
AC Drives: Market Segmentation
AC drives, also known as adjustable speed drives or adjustable frequency drives, are devices that help in controlling the speed of an electrical motor. This aids in enhancing the process control while also reducing the energy requirements of the device. AC drives provide accurate control of the motor in a low maintenance compact size. Furthermore, the drives can also be used to convert energy from natural and renewable resources like sun and wind.
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| CAGR 2024-2032 - Market by | Type |
| Low Voltage Drives | 9.5% |
| High Voltage Drives | XX% |
| Soft Starters | XX% |
By product type, the market is bifurcated into:
- Low Voltage Drives
- Medium Voltage Drives
- Soft Starter
On the basis of power rating, the market can be divided into:
- Low Power Drives
- Medium Power Drives
- High Power Drives
Based on applications, the market can be segmented into:
- Compressor
- Conveyors
- Fans
- Extruders
- Pumps
- Others
| CAGR 2024-2032 - Market by | End Use |
| Solar System | 10.2% |
| Power | 9.6% |
| Oil and Gas | 9.2% |
| Transportation and Infrastructure | XX% |
| Metal Processing | XX% |
| Others | XX% |
On the basis of end use, the market can be distributed into:
- Transportation and Infrastructure
- Oil and Gas
- Power
- Chemical
- Metal Processing
- Solar System
- Others
Increased Demand for Energy Conservation Solutions and the Rapid Industrialisation to Drive the India AC Drives Industry Growth
The rising population, growing urbanisation, and increasing demand for housing and other commercial and industrial infrastructure facilities in the country are driving the demand for energy. This has led to a heightened application of AC drives in the energy sector. Moreover, with the increasing disposable income and improved living standards, consumers are actively investing in appliances such as HVAC and quality refrigerators and washing machines, which is estimated to bolster the market growth in the coming years. Furthermore, the rapid technological advancements are also expected to aid the industry growth. Additionally, growing government investments in energy optimisation strategies and energy conservation solutions, fuelled by the escalating eco-consciousness amid the rising pollution levels, are predicted to aid the market growth in India.
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Key Industry Players in the India AC Drives Market
The report gives a detailed analysis of the following key players in the India AC drives market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- 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
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Power Rating |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
India AC Drives Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 8.93% between 2024 and 2032.
The major drivers of the market, such as need for energy efficiency in industries, increasing manufacturing activities and rising automation sector are expected to aid the market growth.
The key trends guiding the growth of the market include the increasing demand for energy conservation solutions.
The significant product types include low voltage drives, medium voltage drives and soft starter.
The significant power rating segments include low power drives, medium power drives, and high power drives.
The major applications include compressor, conveyors, fans, extruders, pumps, and others.
The significant end uses include transportation and infrastructure, metal processing, chemical, solar system, power, oil and gas, among others.
The major players in the market are 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., among others.
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