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Integrated Drive System Market Size (2024 - 2029)

The Integrated Drive System Market is anticipated to experience growth driven by the increasing emphasis on production efficiency and the rising adoption of these systems in industrial automation. The market's expansion is supported by the systems' ability to reduce maintenance costs and the integration of advanced engineering and energy efficiency tools, which offer significant cost savings. The horizontal integration at the drive train level simplifies sourcing for customers, enhancing purchasing efficiency and reducing overlooked warranty costs. Although the COVID-19 pandemic has temporarily impacted industrial automation, it is expected to accelerate the market's growth as companies seek to automate more rapidly to recover from economic setbacks and prepare for future challenges.

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Market Size of Integrated Drive System Industry

Integrated Drive System Market Summary
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

Integrated Drive System Market 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 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
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Integrated Drive System Market Size Summary

The Integrated Drive System Market is poised for significant growth, driven by the increasing emphasis on production efficiency and the rising adoption of these systems in industrial automation. These systems are designed to reduce maintenance costs and enhance energy efficiency, offering substantial cost savings through integrated web-based drive engineering tools. The horizontal integration at the drive train level allows for streamlined sourcing of components such as motors, gear units, and frequency converters, which simplifies purchasing and reduces warranty costs. The COVID-19 pandemic has further accelerated the need for automation, as industries like automotive seek to recover from economic downturns and prepare for future disruptions. This has led to a greater reliance on simulation software and ergonomic analysis systems to improve productivity and reduce costs in manufacturing processes.

The market's expansion is also fueled by the growth of key end-user industries, particularly in regions like China and Southeast Asia. China's focus on enhancing its oil and gas production capabilities and the "Made in China 2025" initiative aim to transition the country towards advanced manufacturing, including the production of electric and hybrid vehicles. Meanwhile, the mining sector in Southeast Asia is expected to be a major application area for integrated drives, supported by the region's economic growth and continued reliance on coal. The market is characterized by a few dominant players, but its high growth potential is attracting new entrants, leading to technological advancements and product developments. Key companies such as ABB Ltd., Siemens AG, and Rockwell Automation are actively enhancing their offerings to maintain a competitive edge.

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Integrated Drive System Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Focus on Efficiency and Lowering Production Cost

      2. 1.2.2 Increased Deployment of Integrated Systems in Industrial Automation

    3. 1.3 Market Restraints

      1. 1.3.1 High Initial Investment and Maintenance Costs

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Industry Value Chain Analysis

    6. 1.6 Assessment of the Impact of COVID-19 on the Industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Hardware

      2. 2.1.2 Software

    2. 2.2 By End-user Industry

      1. 2.2.1 Automotive

      2. 2.2.2 Oil and Gas

      3. 2.2.3 Food and Beverage

      4. 2.2.4 Mining

      5. 2.2.5 Pharmaceutical

      6. 2.2.6 Chemical

      7. 2.2.7 Other End-user Industry

    3. 2.3 By Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 Rest of the World

Integrated Drive System Market Size FAQs

The Integrated Drive System Market is projected to register a CAGR of 5.88% during the forecast period (2024-2029)

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.

Integrated Drive System Report Snapshots

Integrated Drive System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)