What is the current Alternating Current (AC) Electric Drives Market size?

The Alternating Current (AC) Electric Drives Market is projected to register a CAGR of 4.40% during the forecast period (2024-2029) Read More

Who are the key players in Alternating Current (AC) Electric Drives Market?

ABB, Danfoss, Rockwell Automation Inc., Schneider Electric SE and Siemens AG are the major companies operating in the Alternating Current (AC) Electric Drives Market. Read More

Which is the fastest growing region in Alternating Current (AC) Electric Drives Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Alternating Current (AC) Electric Drives Market?

In 2024, the Asia-Pacific accounts for the largest market share in Alternating Current (AC) Electric Drives Market. Read More

What years does this Alternating Current (AC) Electric Drives Market cover?

The report covers the Alternating Current (AC) Electric Drives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Alternating Current (AC) Electric Drives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Alternating Current (AC) Electric Drives Market Share

Statistics for the 2023 & 2024 Alternating Current (AC) Electric Drives market share, created by Mordor Intelligence™ Industry Reports. Alternating Current (AC) Electric Drives share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Alternating Current (AC) Electric Drives Industry

The global AC drives market is highly fragmented as the demand for AC electric drives is increasing with the growing manufacturing industry across the globe. The key players in the market, like Danfoss, ABB, Siemens AG, and others, are continuously innovating new products and rising activities such as mergers and acquisitions and capacity expansion, further increasing the competition.

May 2022 - Rockwell Automation, one of the largest companies dedicated to industrial automation and digital transformation, announced the release of its new Allen-Bradley Armor PowerFlex AC variable frequency drives for industrial motor control applications. These on-machine drives provide quicker installation, simple commissioning, and predictive maintenance.