Authored By: Sarah
07 May 2021

Electric Drives Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Technavio has been monitoring the electric drives market and it is expected to grow by $ 4.88 mn, accelerating at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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Electric Drives Market: Key Trends to impact market growth

The advent of IoT in electric drives is one of the key electric drives market market trends. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.

Electric Drives Market: Top Drivers to Boost Demand

The increasing focus on automating manufacturing processes is one of the primary factors driving the growth of the electric drives market. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business

Vendor Analysis: ABB Ltd., Danfoss AS and Mitsubishi Electric Corp. are key growth contributors

The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Danfoss AS, Mitsubishi Electric Corp., Nidec Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., WEG Equipamentos Eletricos SA, and Yaskawa Electric Corp. are some of the major market participants.

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Electric Drives Market: Key Highlights of the Report for 2021-2025

CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will drive electric drives market growth during the next five years
Precise estimation of the electric drives market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the electric drives market industry across APAC, Europe, North America, South America, and MEA
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of electric drives market vendors

The Global Electric Drives Market has the potential to grow by $ 4.88 mn during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of over 4%

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This electric drives market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by Product (AC drives and DC drives), End-user (Process industry and Discrete industry), and Geography (APAC, Europe, North America, South America, and MEA). The electric drives market report also offers information on several market vendors, including ABB Ltd., Danfoss AS, Mitsubishi Electric Corp., Nidec Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., WEG Equipamentos Eletricos SA, and Yaskawa Electric Corp. among others.

Electric Drives Market: Receive FREE sample report

The Industrials sector is expected to have NEGATIVE impact due to the spread of COVID-19 virus. As the business impact of COVID-19 spreads, the Electric Drives Market 2021-2025 market is expected to witness Negative & Inferior growth.

Electric Drives Market: Top Drivers to Impact Market Growth

Automation has been adopted across process and discrete industries for improved production and efficiency.
Most of the automated machines use AC drives because they can effectively regulate the motor speed with minimal manual intervention.
AC drives can also be connected to multiple pumps and motors compared with DC drives and can optimize and automate motor operations.
The increasing focus on automating manufacturing processes is one of the crucial drivers for the growth of the global electric drives market size.

Electric Drives Market: Report Highlights:

CAGR of the market during the forecast period
Detailed information on factors that will Electric Drives Market growth during the next five years
Precise estimation of the Electric Drives Market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the Electric Drives Market industry across
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of Electric Drives Market vendors

Market Segmentation by Product

- Electric Drives Market Split by Product
  - AC drives
  - DC drives
- Electric Drives Market Split by End-user
  - Process industry
  - Discrete industry
- Electric Drives Market Split by Geography
  - APAC
  - Europe
  - North America
  - South America
  - MEA