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Global Direct Current (DC) Electric Drives Market Size (2024 - 2029)

The Global Direct Current Electric Drives Market is anticipated to experience growth driven by the expanding industrial and manufacturing sectors, which are increasing the demand for these drives primarily used in electric traction applications. The market's expansion is supported by the rising need for energy-efficient systems due to increasing electricity demand and costs, alongside the modernization and automation of production facilities. However, the market faces challenges from the growing adoption of AC drives, which offer benefits like lower operating costs and faster speed adjustments. The COVID-19 pandemic also impacted the market significantly, as restrictions affected activities in key industries such as oil & gas, manufacturing, and metal & mining.

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Market Size of Global Direct Current (DC) Electric Drives Industry

CAGR
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.10 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

Direct Current (DC) Electric Drives Market Analysis

The Global Direct Current Electric Drives Market is expected to grow by registering a CAGR of 5.1% during the forecast period (2022-2027). As DC electric drives are primarily in electric traction applications, expanding the industrial and manufacturing sectors are expected to boost their demand.

  • Direct Current electric drive is a speed control system for a DC motor that supplies the required voltage to help it operate at the desired speed. These drives also help to reduce operational costs and achieve energy efficiency by regulating the speed of the motor and thereby its power consumption.
  • Owing to rapid urbanization, the electricity demand has been increasing. The rising electricity costs have also raised the need for energy-efficient systems and equipment. For instance, according to IEA, global energy intensity - a key measure of the economy's energy efficiency - was forecasted to improve by 1.9% in 2021 after improving by only 0.5% in 2020. Such trends are expected to support the growth of the studied market.
  • According to Eurostat, in January 2022, industrial production in the EU increased by 0.4% compared to the month before. Additionally, the total production level was 2.5% above February 2020. The increasing adoption of automation and modernization of production facilities is expected to drive the demand for DC drives as they are used for variable torque applications.
  • However, the increasing popularity of AC drives across various types of motion control applications owing to several benefits such as lower operating cost and their ability to change speed more rapidly are expected to challenge the growth of the studied market during the forecast period.
  • As DC electric drives are used mostly across industries such as oil & gas, manufacturing, metal & mining, etc., the outbreak of COVID-19 had a notable impact on the studied market, as activities across this sector were significantly reduced due to various restrictions imposed by the governments to curb the spread of the virus.

Direct Current (DC) Electric Drives Industry Segmentation

A Direct Current (DC) drive is the functional circuitry that can be employed to precisely control a DC motor the drive operation allows the application of varying input levels so that the motor runs efficiently at different speeds. These drives are designed to handle applications such as mining/drilling, cranes, winders/coils, etc. The research report contains thoughtful insights, historical data, facts, historical data, and statistically supported market data.

By Voltage
Low Voltage
Medium Voltage
By Power Rating
Low
Medium
High
By End-User Industry
Oil & Gas
Power Generation
Chemical & Petrochemical
Water & Wastewater
Metal & Mining
Food & Beverage
Discrete Industries
Others
By Geography
North America
Europe
Asia Pacific
Latin America
Middle-East and Africa
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Global Direct Current (DC) Electric Drives Market Size Summary

The Global Direct Current (DC) Electric Drives Market is poised for significant growth, driven by the expanding industrial and manufacturing sectors, particularly in regions like China, India, and Taiwan. DC electric drives, which serve as speed control systems for DC motors, are increasingly in demand due to their ability to enhance energy efficiency and reduce operational costs. The rising need for energy-efficient systems, fueled by rapid urbanization and increasing electricity costs, is further propelling market growth. The oil and gas sector, a major consumer of DC drives, benefits from their excellent controlling capabilities, which help in conserving energy by optimizing flow control. Additionally, the modernization and automation of production facilities are expected to bolster the demand for DC drives, as they are integral to variable torque applications.

Despite the promising growth prospects, the market faces challenges from the growing popularity of AC drives, which offer benefits such as lower operating costs and faster speed adjustments. The COVID-19 pandemic had a notable impact on the market, as restrictions led to reduced activities in key sectors like oil and gas, manufacturing, and mining. However, the recovery and growth of these industries, along with increasing investments in water and wastewater management infrastructure, are expected to create a favorable market scenario for DC electric drives. The market is moderately competitive, with major players like ABB Ltd, Kirloskar Electric Company Limited, Rockwell Automation, and Parker Hannifin Corp focusing on innovation and new product development to maintain their competitive edge.

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Global Direct Current (DC) Electric Drives Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitute Products

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of the Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Voltage

      1. 2.1.1 Low Voltage

      2. 2.1.2 Medium Voltage

    2. 2.2 By Power Rating

      1. 2.2.1 Low

      2. 2.2.2 Medium

      3. 2.2.3 High

    3. 2.3 By End-User Industry

      1. 2.3.1 Oil & Gas

      2. 2.3.2 Power Generation

      3. 2.3.3 Chemical & Petrochemical

      4. 2.3.4 Water & Wastewater

      5. 2.3.5 Metal & Mining

      6. 2.3.6 Food & Beverage

      7. 2.3.7 Discrete Industries

      8. 2.3.8 Others

    4. 2.4 By Geography

      1. 2.4.1 North America

      2. 2.4.2 Europe

      3. 2.4.3 Asia Pacific

      4. 2.4.4 Latin America

      5. 2.4.5 Middle-East and Africa

Global Direct Current (DC) Electric Drives Market Size FAQs

The Global Direct Current (DC) Electric Drives Market is projected to register a CAGR of 5.10% during the forecast period (2024-2029)

ABB Ltd., Kirloskar Electric Company Limited, Rockwell Automation, Parker Hannifin Corp and Nidec Motor Corporation are the major companies operating in the Global Direct Current (DC) Electric Drives Market.

Global Direct Current (DC) Electric Drives Report Snapshots

Global Direct Current (DC) Electric Drives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)