Integrated Drive System Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.88 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Integrated Drive System Market Analysis
The Integrated Drive System Market is expected to register a CAGR of 5.88%. The growth of the market can be attributed to the increased focus on production efficiency to maintain competitive advantage and the growing adoption of integrated drive systems in industrial automation.
- Integrated Drive Systems enable the reduction of maintenance costs. The integration of Web-based drive engineering and energy efficiency software tools is facilitating particular drive applications, ensuring the best possible cost savings. According to certain estimates, the deployment of Integrated Drive Systems can reduce costs by as high as 15%.
- Additionally, the horizontal integration on the drive train level enables one-stop sourcing of motor, gear unit, coupling, frequency converter, and controls. For customers, this translates into single-vendor responsibility that facilitates purchasing and helps reduce warranty costs that, most of the time, are not considered.
- Industrial Automation is being impacted in several ways due to the outbreak of the COVID-19 virus. Major industries, like Automotive, have been affected across the world as they are highly dependent on the Chinese Supply Chains for various components. While in the sorter, the virus is expected to affect the market studied, in the medium-term, it is expected to benefit from the outbreak as the companies realize the need to automate faster to come out of the economic downturn faster and remain better equipped for any such future pandemic.
Integrated Drive System Market Trends
This section covers the major market trends shaping the Integrated Drive System Market according to our research experts:
Automotive Industry is Expected to be One of the Major Sectors of Application
- Innovation and continuous improvement remain one of the key features of the highly competitive automotive industry. The need to maintain competitive advantage has led to the continuous deployment of such systems.
- The increasing vehicle production program costs have led to manufacturers rely on simulation software to support continuous improvement and maximize productivity while simultaneously reducing costs. SIMUL8 offers a process simulation software that enables automotive manufacturers to create a digital representation of any manufacturing system.
- Ford Motor Company has been using Motion Analysis systems to conduct an ergonomic analysis of its assembly line, in order to identify and correct ergonomic issues that led to the injury. Repetitive, stress-related injuries, like rotator cuff tears, strains, and spinal compression, have decreased significantly after deployment of the system.
- Siemens has recently undertaken the modernization of three press lines that include drive technology and automation components for the Volkswagen factory in Wolfsburg, Germany. The integrated drive system SINAMICS S120 and SIMOTION D had been tested using virtual simulation before installation.
Asia - Pacific is Expected to be the Fastest Growing Market During the Forecast Period
- The growth of the major end user indusstries where Integrated Frequency Drives are experincing growwth is one of the majro reasons that is leading to the growth of the market studies n the rgeion. For instance, the escalating trade war between China and the United States has enabled China to focus on oil and gas production. In 2019, the country has initiated a capital investment in oil exploration by 20%, to USD 77 billion, in order to boost production in two old oilfields. This is expected to drive the market for variable frequency drives in the oil and gas industry in China.
- Additionally, China started the Made in China 2025 program, a government initiative to upgrade the country’s industry from low-cost mass production to higher value-added advanced manufacturing. Through this program, the Chinese government aims to produce 1 million electric and plug-in hybrid cars in China by 2020, with national production accounting for at least 70% of the country’s market share. Moreover, China aims to sell 3 million domestically branded new energy vehicles (NEV’s) in 2025, with a minimum of 80% of the country’s NEV market share.
- Moreover, with above average economic growth in India and Southeast Asia, almost all countries in the region are expected to continue using coal for their energy needs. With more than 50% of the top 40 mining companies in the globe present in the region, Mining is expected to emerge as one of the major areas of application for integrated drives during the forecast period.
Integrated Drive System Industry Overview
The integrated drive systems market is dominated by a few key players with significant market share. The high growth potential of this market has been attracting new entrants. The key vendors of the market hence are acquiring competitive advantage through technological advancements and product developments. Some of the recent developments in the market are as follows:-
- November 2019 - Rockwell Automation. Inc and Accenture announced plans to collaborate to develop a digital offering to enable industrial clients to move beyond existing manufacturing solutions to transform existing connected enterprises.
Integrated Drive System Market Leaders
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ABB Ltd.
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Schneider Electric SE
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Siemens AG
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Rockwell Automation, Inc.
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Mitsubishi Electric Corporation
*Disclaimer: Major Players sorted in no particular order
Integrated Drive System Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Rising Focus on Efficiency and Lowering Production Cost
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4.2.2 Increased Deployment of Integrated Systems in Industrial Automation
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4.3 Market Restraints
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4.3.1 High Initial Investment and Maintenance Costs
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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4.5 Industry Value Chain Analysis
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4.6 Assessment of the Impact of COVID-19 on the Industry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Hardware
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5.1.2 Software
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5.2 By End-user Industry
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5.2.1 Automotive
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5.2.2 Oil and Gas
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5.2.3 Food and Beverage
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5.2.4 Mining
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5.2.5 Pharmaceutical
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5.2.6 Chemical
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5.2.7 Other End-user Industry
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5.3 By Geography
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5.3.1 North America
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5.3.2 Europe
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5.3.3 Asia-Pacific
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5.3.4 Rest of the World
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Schneider Electric SE
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6.1.2 Rockwell Automation Inc.
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6.1.3 Bosch Rexroth AG
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6.1.4 Emerson Electric Company
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6.1.5 ABB Ltd.
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6.1.6 Mitsubishi Electric Corporation
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6.1.7 Siemens AG
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6.1.8 Integrated Drive Systems Pvt. Ltd
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6.1.9 Yaskawa Electric Corporation
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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8. INVESTMENT ANALYSIS
Integrated Drive System Industry Segmentation
Integrated drive systems are used to improve the efficiency of industrial production in optimizing the functions of components, like gears and motors. The increasing need for energy conservation is leading to the higher adoption of integrated drive systems among end-user industries. The market has been analyzed by segmenting it into hardware and software on the basis of offering and their subsequent application in the various end- user industries.
| By Type | |
| Hardware | |
| Software |
| By End-user Industry | |
| Automotive | |
| Oil and Gas | |
| Food and Beverage | |
| Mining | |
| Pharmaceutical | |
| Chemical | |
| Other End-user Industry |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Rest of the World |
Integrated Drive System Market Research FAQs
What is the current Integrated Drive System Market size?
The Integrated Drive System Market is projected to register a CAGR of 5.88% during the forecast period (2024-2029)
Who are the key players in Integrated Drive System Market?
ABB Ltd., Schneider Electric SE, Siemens AG, Rockwell Automation, Inc. and Mitsubishi Electric Corporation are the major companies operating in the Integrated Drive System Market.
Which is the fastest growing region in Integrated Drive System Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Integrated Drive System Market?
In 2024, the North America accounts for the largest market share in Integrated Drive System Market.
What years does this Integrated Drive System Market cover?
The report covers the Integrated Drive System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Integrated Drive System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Integrated Drive System Industry Report
Statistics for the 2024 Integrated Drive System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Integrated Drive System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
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