THE GLOBAL ELECTRIC DRIVES MARKET SIZE TO BE VALUED AT USD 29 BILLION BY 2026, GROWING AT A CAGR OF 4.6% DURING THE FORECAST PERIOD

Electric Drives Market Size, Share, Trends Analysis Report by

Product Type: AC & DC
Sales Channel: Direct & Indirect
Voltage: Low and Medium
End-User: F&B, Metal & Mining, Chemicals, Oil & Gas, Power Generation, Packaging, Cement, Textile, Water & Wastewater, Paper & Pulp, Rubber & Plastic, Forestry & Woodwork, and Others
Geography: APAC, North America, Europe, Latin America, and Middle East & Africa
Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021–2026

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Most Exhaustive Report

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302 Pages

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109 Tables

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132 Charts

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5 Regions

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19 Countries

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18 Companies

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5 Market Segment

GLOBAL ELECTRIC DRIVES MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (REVENUE) USD 29 BILLION (2026)
CAGR 4.6% (2021–2026)
Base Year 2020
Forecast Year 2021–2026
Market Segments Product Type (AC & DC); Sales Channel (Direct & Indirect); Voltage (Low and Medium); End-User (F&B, Metal & Mining, Chemicals, Oil & Gas, Power Generation, Packaging, Cement, Textile, Water & Wastewater, Paper & Pulp, Rubber & Plastic, Forestry & Woodwork, and Others)
Geographic Analysis North America, Europe, APAC, Latin America, and Middle East & Africa
Countries Covered US, Canada, UK, Germany, France, Spain, Italy, China, India, Japan, South Korea, Australia, Brazil, Mexico, Chile, Saudi Arabia, Turkey, Rest of Latin America, and Rest of Middle East & Africa

INDUSTRY INSIGHTS

The global electric drives market size to cross USD 29 billion by 2026, growing at a CAGR of 4.6% during the forecast period. The global market is expected to grow during the forecast period with the growth in industrial production, enhancement in technological advancement, increase in urbanization, and expansion of industries. Owing to the high energy cost associated with industrial motors, several players in end-user industries are focusing on incorporating energy-efficient techniques. Electric drives are one such variety of technology that delivers a highly-efficient production process at a low cost. As the electricity consumption is the major cost component across end-user industries, the demand for electric drives is expected to increase at a considerable rate during the forecast period. Furthermore, the increasing awareness and stringent government regulations on energy savings are fueling the demand for electric drives across the globe.

SNIPPETS

  • The demand for electric drives is anticipated to grow due to increased industrial production and the replacement of worn-out motors with energy-efficient ones for industries.
  • Strict government regulations and pollution reduction initiatives are expected to limit oil and gas demand growth, thereby limiting market development during the forecast period.
  • The rapidly changing technological environment is expected to adversely affect vendors as continual innovations and upgrades according to schemes and government policies are evolving.
  • The chemical industry is likely to grow at promising CAGR as electric motors help to have precise flow controls and achieve energy savings for manufacturers.

GLOBAL ELECTRIC DRIVES MARKET SEGMENTATION

This research report includes a detailed segmentation by

  • Product Type
  • Sales Channel
  • Voltage
  • End-User
  • Geography

INSIGHTS BY PRODUCT TYPE

Alternate current (AC) electric drives held over 80% of the electric drives market share in 2020. The market is highly fragmented due to the presence of several global and regional players. Several incentive programs in the US and European countries for the early replacement of low-efficient electric motors is expected to boost the demand for AC electric drives. However, these regions could not witness high growth owing to the shift of manufacturing plants of several motor vehicles and electronic appliances to Asian countries. APAC is expected to witness significant growth over the next few years owing to the increasing purchasing power, continuous production of AC motor-driven applications, and developing economies in India, China, and others. Moreover, the recent trend of the industrial internet of things (IIoT), Big Data, and other technological advancements is promoting huge competition in the global market.

Although direct current  (DC) drives offer several advantages, they suffer from higher disadvantages than AC ones. Therefore, the adoption is expected to be comparatively low among end-users during the forecast period. The oil & gas industry generates the highest demand for DC drives owing to their high requirement in production facilities and drilling rigs. Moreover, the water & wastewater industry is likely to act as a catalyst in the demand for DC drives. APAC is expected to lead the DC drives market as the region is the hub for the development of electronic components and products catering to several industries during the forecast period.

INSIGHTS BY VOLTAGE

The demand for low-voltage electric drives is driving by increased applications in several end-user industries and the ability to be cost efficient. However, strict government regulations regarding the application are favorably affecting the market growth. Retrofitting activities with regards to low-voltage electric drives are extremely high across industrial as well as commercial enterprises. This, in turn, is expected to boost the demand for low-voltage electric drives during the forecast period. Owing to the increasing implementation of low-energy systems, coupled with easy installation and availability of compact sizes, are the key features driving the electric drives' demand.

The marine industry is the major end-user for medium-voltage electric drives and accounts for around 15–20% of the market share. The decreasing cost of drives and advances in semiconductors technology are expected to develop favorable conditions for medium-voltage drive manufacturers. However, these drives require high input voltage, including expensive transformers, which are expensive, thereby hampering the market expansion.

INSIGHTS BY END-USER

The expansion and investments in oil & gas, chemical, mining, and other industries in the Middle East, North America, and APAC are expected to increase electric drives demand in the coming years. Thus, the demand for drives in several industrial applications is anticipated to grow. Further, the current uncertainty over the macro-outlook for the global economy has been reduced by the recent COVID-19 outbreak and has affected the market, thus developing a challenge for the motor market growth in the short term. The end-user industry demand for electric drives has been adversely affected in 2020 on account of the COVID-19 outbreak. Technological advances in drives and industrial revolution are strongly supporting the growth of the market, however, due to the ongoing pandemic, the demand for metals has become highly uncertain. Owing to the significant usage of drives in several applications in the food processing industry across the globe, the demand for electric drives is expected to grow at a significant rate during the forecast period.

INSIGHTS BY SALES CHANNELS

Direct sales hold a prominent share in the market as they offer scope for strategic partnerships between vendors and OEMs, thereby helping to reduce operational costs for OEMs. APAC and Europe are expected to dominate the share of direct electric drives sales owing to the high popularity of direct selling in the region. However, India and China are expected to witness the highest growth in direct sales owing to rapidly growing industrialization during the forecast period. Indirect sales hold a low share in the market majorly due to increased operational cost and rising awareness of traceability among buyers. Indirect networks relieve the manufacturer from start-up expenses, they are better to handle than direct delivery networks.

INSIGHTS BY GEOGRAPHY

APAC accounts for the highest share of the global electric drive market due to rapidly increasing urbanization and industrialization in the region. Continuous industrial automation in manufacturing, increasing focus on automating manufacturing processing, construction, power generation, and mining end-users are significantly increasing, which is increasing the application of electric drives. Urbanization and industrialization in emerging countries such as India, China, and other countries in Southeast Asia are driving the demand for vehicles, which, in turn, is boosting the demand for electric drives from the automotive industry. However, the breakout of the COVID-19 pandemic affected the growth prospects of the industry. The growth in China witnessed a decline from around 6% in 2019 to 1–1.5% by the end of 2020. The production in chemical manufacturing units in China declined by over 15–20% in 2020, which is expected to negatively impact the demand for electric drives from the chemical & petrochemical industry. Similarly,  the oil & gas industry has been one of the most adversely affected globally and oil & gas production in the APAC region has been badly hit. However, post-COVID the global economy, as well as the production in end-user industries, is expected to recover, which is likely to drive the demand for electric drives.

INSIGHTS BY VENDORS

Siemens, ABB, Schneider Electric, Emerson Electric, Mitsubishi Electric, and Danfoss are the major vendors in the global electric drive market. These vendors offer high-quality reliable devices with technological advancement. However, the cost of drives remains high face intense competition from small vendors that provide low-quality products at an inexpensive price. The competition is likely to intensify due to the rise in merger and acquisition activities. Major vendors are expected to acquire small- and medium-scale vendors to enhance their market presence and expand their product portfolios.

The electric drives market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

Product Type

  • AC
  • DC

Sales Channel

  • Direct
  • Indirect

Voltage

  • Low
  • Medium

End-User

  • F&B
  • Metal & Mining
  • Chemicals
  • Oil & Gas
  • Power Generation
  • Packaging
  • Cement
  • Textile
  • Water & Wastewater
  • Paper & Pulp
  • Rubber & Plastic
  • Forestry & Woodwork
  • Others

By Geography

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Chile
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • Turkey
    • Rest of Middle East

Frequently Asked Questions

How big is the global electric drives market?

The global electric drives market is expected to grow at a CAGR of over 4.6% during the period 2021–2026.

What are the major technological advancements in the global electric drives market?

The arrival of IIoT in electric drives is the major technology advancement witnessed in the market.

Which is the largest revenue-generating region in the market?

APAC is the largest revenue-generating region in the market on account of high industrialization and favorable government support.

Who are the key players in the market? What are the challenges faced by the vendors?

Siemens, ABB, Schneider Electric, Emerson Electric, and Mitsubishi Electric are some of the key players in the market.

Which are the most revenue-generating end-user segments in the global electric drives market?

The metal and mining segment is expected to contribute the highest revenue to the global electric drives market.

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The electric drives market by revenue is expected to grow at a CAGR of over 4.6% during the period 2021–2026.

The following factors are likely to contribute to the growth of the electric drives market during the forecast period:

  • High Future Potential for Integrated Motor Drives (IMD)
  • The advent of IIoT in Electric Drives Market
  • Significant Demand for AC Drives
  • Growing Demand for Renewable Energy

Base Year:                  2020

Forecast Year:           2021–2026

The study considers the present scenario of the electric drives market and its market dynamics for the period 2020−2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Prominent Vendors

  • ABB
    • Business Overview
    • Product Offerings
    • Key Strengths
    • Key Strategies
    • Key Opportunities
  • Danfoss
  • Emerson Electric
  • Fuji Electric
  • Mitsubishi Electric
  • Parker-Hannifin Corporation
  • Siemens
  • Rockwell Automation
  • Schneider Electric
  • WEG
  • Nidec Corporation
  • Yasakawa Electric

Other Prominent Vendors

  • Hiconics Drive Technology
    • Business Overview
    • Product Offerings
  • Inovance Technology
  • KEB Automation
  • Sew-Eurodrive
  • Teco Westinghouse
  • Toshiba International Corporation

Product Type

  • AC
  • DC

Sales Channel

  • Direct Sales
  • Indirect Sales

Voltage

  • Low
  • Medium

End-User

  • F&B
  • Metal & Mining
  • Chemicals
  • Oil & Gas
  • Power Generation
  • Packaging
  • Cement
  • Textile
  • Water & Wastewater
  • Paper & Pulp
  • Rubber & Plastic
  • Forestry & Woodwork
  • Others

By Geography

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Chile
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • Turkey
    • Rest of Middle East

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

4.1 Market Definition

4.1.1 Inclusions

4.1.2 Exclusions

4.2 Base Year

4.3 Scope of The Study

4.3.1 Market Segmentation by Product Type

4.3.2 Market Segmentation by Sales Channel

4.3.3 Market Segmentation by Voltage

4.3.4 Market Segmentation by End-User

4.3.5 Market Segmentation by Geography

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Introduction

7.1 Overview

7.1.1 Key Insights

7.2 Industry Outlook

7.3 Risk & Challenge Analysis

7.3.1 Lack of sufficient regulations on inefficient motors and electric drives

7.3.2 Disruption in the steel and semiconductor industry

7.3.3 Reduced activities in metal & mining and oil & gas industry

7.4 Supply Chain Risks

7.5 FAQ

7.5.1 What are the key developments anticipated to take place in the electric drives market from 2020 to 2026

7.5.2 What are the crucial strategies adopted by players operating in the Electric Drives market

7.5.3 Which end-user industries will remain key contributors to the growth of the electric drives market

7.6 Impact Of COVID-19

7.6.1 Key Points

8 Market Opportunities & Trends

8.1 Future Potential For Integrated Motor Drive (IMD)

8.2 Advent Of IIOT In Electric Drives Market

9 Market Growth Enablers

9.1 Significant Demand For AC Drives Or VFD

9.2 Increasing Adoption Of Automation

9.3 Growing Demand For Renewable Energy

10 Market Restraints

10.1 Unstable Demand From Oil & Gas Industry

10.2 Trade Conflicts Between The US & China

11 Market Landscape

11.1 Market Overview

11.1.1 Key Insights

11.1.2 Mega Trends

11.1.3 Demand Insights

11.2 Market Size & Forecast

11.3 Five Forces Analysis

11.3.1 Threat of New Entrants

11.3.2 Bargaining Power of Suppliers

11.3.3 Bargaining Power of Buyers

11.3.4 Threat of Substitutes

11.3.5 Competitive Rivalry

12 Product Type

12.1 Market Snapshot & Growth Engine

12.2 Market Overview

12.3 AC Drives

12.3.1 Market Overview

12.3.2 Key Insights

12.3.3 Impact of COVID-19 and Challenges

12.3.4 Market Size & Forecast

12.3.5 Market by Geography

12.4 DC Drives

12.4.1 Market Overview

12.4.2 Key Insights

12.4.3 Impact of COVID-19 and Challenges

12.4.4 Market Size & Forecast

12.4.5 Market by Geography

13 Voltage

13.1 Market Snapshot & Growth Engine

13.2 Market Overview

13.3 Low Voltage Electric Drives

13.3.1 Market Overview

13.3.2 Key Insights

13.3.3 Pricing & Demand Analysis

13.3.4 Market Size & Forecast

13.3.5 Market by Geography

13.4 Medium Voltage Electric Drives

13.4.1 Market Overview

13.4.2 Key Insights

13.4.3 Sales Channel Insights

13.4.4 Market Size & Forecast

13.4.5 Market by Geography

14 Sales Channel

14.1 Market Snapshot & Growth Engine

14.2 Market Overview

14.3 Direct Sales

14.3.1 Market Overview

14.3.2 Market Size & Forecast

14.3.3 Market by Geography

14.4 Indirect Sales

14.4.1 Market Overview

14.4.2 Market Size & Forecast

14.4.3 Market by Geography

15 End-User

15.1 Market Snapshot & Growth Engine

15.2 Market Overview

15.2.1 Key Insights

15.3 Metal & Mining

15.3.1 Market Overview

15.3.2 Market Size & Forecast

15.3.3 Market by Geography

15.4 F&B

15.4.1 Market Overview

15.4.2 Market Size & Forecast

15.4.3 Market by Geography

15.5 Chemicals

15.5.1 Market Overview

15.5.2 Regional Outlook

15.5.3 Market Size & Forecast

15.5.4 Market by Geography

15.6 Oil & Gas

15.6.1 Market Overview

15.6.2 Challenges in Oil & Gas Industry

15.6.3 Market Size & Forecast

15.6.4 Market by Geography

15.7 Water & Wastewater

15.7.1 Market Overview

15.7.2 Market Size & Forecast

15.7.3 Market by Geography

15.8 Power Generation

15.8.1 Market Overview

15.8.2 Market Size & Forecast

15.8.3 Market by Geography

15.9 Packaging

15.9.1 Market Overview

15.9.2 Key Insights

15.9.3 Market Size & Forecast

15.9.4 Market by Geography

15.10 Textile

15.10.1 Market Overview

15.10.2 Key Insights

15.10.3 Market Size & Forecast

15.10.4 Market by Geography

15.11 Cement

15.11.1 Market Overview

15.11.2 Key Insights

15.11.3 Market Size & Forecast

15.11.4 Market by Geography

15.12 Paper & Pulp

15.12.1 Market Overview

15.12.2 Market Size & Forecast

15.12.3 Market by Geography

15.13 Rubber & Plastic

15.13.1 Market Overview

15.13.2 Market Size & Forecast

15.13.3 Market by Geography

15.14 Forestry & Woodworking

15.14.1 Market Overview

15.14.2 Market Size & Forecast

15.14.3 Market by Geography

15.15 Other Industries

15.15.1 Market Overview

15.15.2 Market Size & Forecast

15.15.3 Market by Geography

16 Geography

16.1 Market Snapshot & Growth Engine

16.2 Geographic Overview

17 APAC

17.1 Market Overview

17.1.1 Impact of COVID-19

17.2 Market Size & Forecast

17.3 Sales Channel

17.3.1 Market Size & Forecast

17.4 Product Type

17.4.1 Market Size & Forecast

17.5 Voltage

17.5.1 Market Size & Forecast

17.6 End-User

17.6.1 Market Size & Forecast

17.7 Key Countries

17.8 China: Market Size & Forecast

17.8.1 Highlights

17.8.2 Key Insights

17.9 Japan: Market Size & Forecast

17.9.1 Industrial Insights

17.10 India: Market Size & Forecast

17.10.1 Impact of COVID-19

17.10.2 Key Insights

17.11 South Korea: Market Size & Forecast

17.11.1 Highlights

17.12 Australia: Market Size & Forecast

17.12.1 Key Insights

18 Europe

18.1 Market Overview

18.1.1 Key Insights

18.1.2 Industry Performance

18.2 Market Size & Forecast

18.3 Sales Channel

18.3.1 Market Size & Forecast

18.4 Product Type

18.4.1 Market Size & Forecast

18.5 Voltage

18.5.1 Market Size & Forecast

18.6 End-User

18.6.1 Market Size & Forecast

18.7 Key Countries

18.8 Germany: Market Size & Forecast

18.8.1 Impact of COVID-19

18.8.2 Key Insights

18.9 Italy: Market Size & Forecast

18.9.1 Industrial Insights

18.1 France: Market Size & Forecast

18.11 Spain: Market Size & Forecast

18.11.1 Key Insights

18.12 UK: Market Size & Forecast

18.12.1 Key Insights

19 North America

19.1 Market Overview

19.1.1 Industry Performance

19.2 Market Size & Forecast

19.3 Sales Channel

19.3.1 Market Size & Forecast

19.4 Product Type

19.4.1 Market Size & Forecast

19.5 Voltage

19.5.1 Market Size & Forecast

19.6 End-User

19.6.1 Market Size & Forecast

19.7 Key Countries

19.8 US: Market Size & Forecast

19.8.1 Key Insights

19.9 Canada: Market Size & Forecast

19.9.1 Key Insights

20 Latin America

20.1 Market Overview

20.1.1 Highlights

20.2 Market Size & Forecast

20.3 Sales Channel

20.3.1 Market Size & Forecast

20.4 Product Type

20.4.1 Market Size & Forecast

20.5 Voltage

20.5.1 Market Size & Forecast

20.6 End-User

20.6.1 Market Size & Forecast

20.7 Key Countries

20.8 Mexico: Market Size & Forecast

20.8.1 Key Insights

20.9 Brazil: Market Size & Forecast

20.1 Chile: Market Size & Forecast

20.11 Rest Of Latin America: Market Size & Forecast

21 Middle East & Africa

21.1 Market Overview

21.2 Market Size & Forecast

21.3 Sales Channel

21.3.1 Market Size & Forecast

21.4 Product Type

21.4.1 Market Size & Forecast

21.5 Voltage

21.5.1 Market Size & Forecast

21.6 End-User

21.6.1 Market Size & Forecast

21.7 Key Countries

21.8 Saudi Arabia: Market Size & Forecast

21.8.1 Key Insights

21.9 Turkey: Market Size & Forecast

21.1 Rest Of Middle East & Africa: Market Size & Forecast

22 Competitive Landscape

22.1 Competition Overview

23 Key Company Profiles

23.1 ABB

23.1.1 Business Overview

23.1.2 Product Offerings

23.1.3 Key Strategies

23.1.4 Key Strengths

23.1.5 Key Opportunities

23.2 Danfoss

23.2.1 Business Overview

23.2.2 Product Offerings

23.2.3 Key Strategies

23.2.4 Key Strengths

23.2.5 Key Opportunities

23.3 Emerson Electric

23.3.1 Business Overview

23.3.2 Product Offerings

23.3.3 Key Strategies

23.3.4 Key Strengths

23.3.5 Key Opportunities

23.4 Fuji Electric

23.4.1 Business Overview

23.4.2 Product Offerings

23.4.3 Key Strategies

23.4.4 Key Strengths

23.4.5 Key Opportunities

23.5 Mitsubishi Electric

23.5.1 Business Overview

23.5.2 Product Offerings

23.5.3 Key Strategies

23.5.4 Key Strengths

23.5.5 Key Opportunities

23.6 Parker-Hannifin Corporation

23.6.1 Business Overview

23.6.2 Product Offerings

23.6.3 Key Strategies

23.6.4 Key Strengths

23.6.5 Key Opportunities

23.7 Siemens

23.7.1 Business Overview

23.7.2 Product Offerings

23.7.3 Key Strategies

23.7.4 Key Strengths

23.7.5 Key Opportunities

23.8 Rockwell Automation

23.8.1 Business Overview

23.8.2 Product Offerings

23.8.3 Key Strategies

23.8.4 Key Strengths

23.8.5 Key Opportunities

23.9 Schnieder Electric

23.9.1 Business Overview

23.9.2 Product Offerings

23.9.3 Key Strategies

23.9.4 Key Strengths

23.9.5 Key Opportunities

23.10 WEG

23.10.1 Product Offerings

23.10.2 Key Strategies

23.10.3 Key Strengths

23.10.4 Key Opportunities

23.11 Nidec Corporation

23.11.1 Business Overview

23.11.2 Product Offerings

23.11.3 Key Strategies

23.11.4 Key Strengths

23.11.5 Key Opportunities

23.12 Yaskawa Electric

23.12.1 Business Overview

23.12.2 Product Offerings

23.12.3 Key Strategies

23.12.4 Key Strengths

23.12.5 Key Opportunities

24 Other Prominent Vendors

24.1 Hiconics Drive Technology

24.1.1 Business Overview

24.1.2 Product Offerings

24.2 Inovance Technology

24.2.1 Business Overview

24.2.2 Product Offerings

24.3 KEB Automation

24.3.1 Business Overview

24.3.2 Product Offerings

24.4 Sew-Eurodrive

24.4.1 Business Overview

24.4.2 Product Offerings

24.5 Teco Westinghouse

24.5.1 Business Overview

24.5.2 Product Offerings

24.6 Toshiba International Corporation

24.6.1 Business Overview

24.6.2 Product Offerings

25 Report Summary

25.1 Key Takeaways

25.2 Strategic Recommendations

26 Global Market: Quantitative Summary

26.1 Market By Geography

26.1.1 Market Size & Forecast

26.2 Product Type

26.2.1 Market Size & Forecast

26.3 Voltage

26.3.1 Market Size & Forecast

26.4 Sales Channel

26.4.1 Market Size & Forecast

26.5 End-User

26.5.1 Market Size & Forecast

27 APAC: Quantitative Summary

27.1 Voltage

27.1.1 Market Size & Forecast

27.2 Product Type

27.2.1 Market Size & Forecast

27.3 Sales Channel

27.3.1 Market Size & Forecast

27.4 End-Users

27.4.1 Market Size & Forecast

28 Europe: Quantitative Summary

28.1 Voltage

28.1.1 Market Size & Forecast

28.2 Product Type

28.2.1 Market Size & Forecast

28.3 Sales Channel

28.3.1 Market Size & Forecast

28.4 End-Users

28.4.1 Market Size & Forecast

29 North America: Quantitative Summary

29.1 Voltage

29.1.1 Market Size & Forecast

29.2 Product Type

29.2.1 Market Size & Forecast

29.3 Sales Channel

29.3.1 Market Size & Forecast

29.4 End-Users

29.4.1 Market Size & Forecast

30 Latin America: Quantitative Summary

30.1 Voltage

30.1.1 Market Size & Forecast

30.2 Product Type

30.2.1 Market Size & Forecast

30.3 Sales Channel

30.3.1 Market Size & Forecast

30.4 End-Users

30.4.1 Market Size & Forecast

31 Middle East & Africa

31.1 Voltage

31.1.1 Market Size & Forecast

31.2 Product Type

31.2.1 Market Size & Forecast

31.3 Sales Channel

31.3.1 Market Size & Forecast

31.4 End-Users

31.4.1 Market Size & Forecast

32 Appendix

32.1 Abbreviations

List Of Exhibits 

Exhibit 1             Segmentation of Global Electric Drives Market

Exhibit 2             Market Size Calculation Approach 2020

Exhibit 3             Electric Drives: Energy Consumption Insights

Exhibit 4             Electricity Consumption by Motors

Exhibit 5             Risks Associated with heavy reliance on Supply Chain

Exhibit 6             Impact of Future Potential for Integrated Motor Drive (IMD)

Exhibit 7             Benefits Offered by IMDs

Exhibit 8             Impact of Advent of IIoT in Electric Drives Market

Exhibit 9             Benefits of IIoT in Electric Drives Market

Exhibit 10           Impact of Significant Demand for AC Drives or VFD

Exhibit 11           Advantages Associated with VFDs along with Low-Efficiency Motors

Exhibit 12           Impact of Increasing Adoption of Automation

Exhibit 13           Automation Dynamics

Exhibit 14           Evolution of Automation

Exhibit 15           Impact of Growing Demand for Renewable Energy

Exhibit 16           Key Factors Supporting the Demand for Electric Drives by the Wind Power Generation Industry

Exhibit 17           Impact of Unstable Demand from Oil & Gas Industry

Exhibit 18           Global Oil Demand 2015−2020 (mb/d)

Exhibit 19           Impact of Trade Conflicts between the US & China

Exhibit 20           Major Focus of  Vendors in the Electric Drives Market

Exhibit 21           Key Entities in the Value Chain of Electric Drives Market

Exhibit 22           Mega Trends Fueling Growth in the Electric Drives Market

Exhibit 23           Market Share by Geography 2020 & 2026 (%)

Exhibit 24           Market Share by Geography 2020 & 2026 (%)

Exhibit 25           Global Electric Drives Market 2020–2026 ($ billion)

Exhibit 26           Five Forces Analysis 2020

Exhibit 27           Incremental Growth by Product Type 2020 & 2026

Exhibit 28           Factors Affecting the Demand for AC & DC Drives

Exhibit 29           Key Features of AC Drives

Exhibit 30           Growth Enablers in AC Drives Market

Exhibit 31           Challenges in the Demand Growth

Exhibit 32           Global AC Drives Market 2020–2026 ($ billion)

Exhibit 33           Key Factors Driving the Demand for DC Drives

Exhibit 34           Challenges in the Demand Growth

Exhibit 35           Global DC Drives Market 2020–2026 ($ billion)

Exhibit 36           Incremental Growth by Voltage 2020 & 2026

Exhibit 37           Classification of Electric Drives Based on Voltage Type

Exhibit 38           Major Applications of Low Voltage Electric Drives

Exhibit 39           Factors Driving Demand for Low Voltage Electric Drives & Market Dynamics

Exhibit 40           Global Low Voltage Electric Drives Market 2020–2026 ($ billion)

Exhibit 41           Major Applications of Medium Voltage Electric Drives

Exhibit 42           Medium Voltage Drive Allocations across Various Applications (Volume)

Exhibit 43           Factors Impacting the Demand for Medium Voltage Electric Drives

Exhibit 44           Global Medium Voltage Electric Drives Market 2020–2026 ($ billion)

Exhibit 45           Incremental Growth by Sales Channel 2020 & 2026

Exhibit 46           Global Electric drives market by Sales Channel Classification

Exhibit 47           Direct Sales Outlook

Exhibit 48           Global direct sales electric drives market 2020–2026 ($ billion)

Exhibit 49           Indirect Sales Outlook

Exhibit 50           Global Indirect Sales Electric Drives Market 2020–2026 ($ Billion)

Exhibit 51           Incremental Growth by End-User 2020 & 2026

Exhibit 52           End-Users Highlights

Exhibit 53           Applications of Electric Drives in the Metals & Mining Industry

Exhibit 54           Global Metals & Mining Market by Electric Drives 2020–2026 ($ billion)

Exhibit 55           Typical Applications of Electric Dives in the F&B Industry

Exhibit 56           Factors Driving the Demand for Electric Drives from F&B Industry

Exhibit 57           Global Electric Drives Market by F&B Industry 2020–2026 ($ billion)

Exhibit 58           Major Applications of Electric Drives in the Chemical Industry

Exhibit 59           Global Pumps Market Growth Rate in the Chemical Industry by Region (CAGR)

Exhibit 60           Regional Chemical Industry Outlook

Exhibit 61           Global Electric Drives Market by Chemicals Industry 2020–2026 ($ billion)

Exhibit 62           Applications of Electric Drives in the Oil & Gas Industry

Exhibit 63           Challenges for Vendors Supplying the Oil & Gas Industry

Exhibit 64           Global Electric Drives Market by Oil & Gas Industry 2020–2026 ($ billion)

Exhibit 65           Global Electric Drives Market by Water & Wastewater Industry 2020–2026 ($ billion)

Exhibit 66           Global Electric Drives Market by Power Generation Industry 2020–2026 ($ billion)

Exhibit 67           Packaging Industry: key Insights

Exhibit 68           Global Electric Drives Market by Packaging Industry 2020–2026 ($ billion)

Exhibit 69           Global Electric Drives Market by Textile Industry 2020–2026 ($ billion)

Exhibit 70           Applications of Electric Drives in the Cement Industry

Exhibit 71           Cement Industry: Key Insights

Exhibit 72           Cement Production & Consumption Outlook

Exhibit 73           Global Electric Drives Market by Cement Industry 2020–2026 ($ million)

Exhibit 74           Global Electric Drives Market by Paper & Pulp Industry 2020–2026 ($ billion)

Exhibit 75           Key Benefits Offered by Electric Drives in the Rubber & Plastics Industry

Exhibit 76           Global Electric Drives Market by Rubber & Plastic Industry 2020–2026 ($ billion)

Exhibit 77           Forestry & Woodworking Industry Insights

Exhibit 78           Global Electric Drives Market by Forestry & Woodworking Industry 2020–2026 ($ billion)

Exhibit 79           Global Electric Drives Market by Other Industries 2020–2026 ($ billion)

Exhibit 80           Incremental Growth by Geography 2020 & 2026

Exhibit 81           Electric Drives Market Dynamics by Geography

Exhibit 82           Steel Output 2010-2019 (million tonnes)

Exhibit 83           Share of World Crude Steel Production (2019)

Exhibit 84           Electric Drives Market in APAC 2020–2026 ($ billion)

Exhibit 85           Incremental Growth in North America 2020 & 2026

Exhibit 86           Electric Drives Market in China 2020–2026 ($ million)

Exhibit 87           Electric Drives Demand in China: Key Insights

Exhibit 88           Number of Establishments for Major End-Users in Japan (2020)

Exhibit 89           Electric Drives Market in Japan 2020–2026 ($ billion)

Exhibit 90           Top Energy Intensive Industries in India

Exhibit 91           Impact of COVID-19 on Industrial Sector of India

Exhibit 92           Major Challenges Faced by Industries in India

Exhibit 93           Electric Drives Market in India 2020–2026 ($ billion)

Exhibit 94           Key Insights

Exhibit 95           South Korea Industry Performance

Exhibit 96           Electric Drives Market in South Korea 2020–2026 ($ billion)

Exhibit 97           Electric Drives Market in Australia 2020–2026 ($ billion)

Exhibit 98           Top Industries Boosting Demand for Electric Drives in Europe

Exhibit 99           Electric Drives Market in Europe 2020–2026 ($ billion)

Exhibit 100        Incremental Growth in Europe 2020 & 2026

Exhibit 101        Value Added by Manufacturing Industry of Germany (% of GDP)

Exhibit 102        Impact of COVID-19 on Industrial Performance of Germany

Exhibit 103        Electric Drives Market in Germany 2020–2026 ($ billion)

Exhibit 104        Key Insights

Exhibit 105        Electric Drives Market in Italy 2020–2026 ($ billion)

Exhibit 106        Electric Drives Market in France 2020–2026 ($ billion)

Exhibit 107        Manufacturing Production Spain (2020)

Exhibit 108        Industry Insights of France

Exhibit 109        Electric Drives Market in Spain 2020–2026 ($ billion)

Exhibit 110        Electric Drives Market in the UK 2020–2026 ($ billion)

Exhibit 111        Electric Drives Market in North America 2020–2026 ($ billion)

Exhibit 112        Incremental Growth in North America 2020 & 2026

Exhibit 113        Top Energy Consuming Sectors Driving Demand for Electric Drives in the US

Exhibit 114        Electric Drives Market in the US 2020–2026 ($ million)

Exhibit 115        Electric Drives Market in Canada 2020–2026 ($ million)

Exhibit 116        Latin America: Highlights

Exhibit 117        Electric Drives Market in Latin America 2020–2026 ($ billion)

Exhibit 118        Incremental Growth in Latin America 2020 & 2026

Exhibit 119        Electric Drives Market in Mexico 2020–2026 ($ million)

Exhibit 120        Electric Drives Market in Brazil 2020–2026 ($ million)

Exhibit 121        Electric Drives Market in Chile 2020–2026 ($ million)

Exhibit 122        Electric Drives Market in the Rest of Latin America 2020–2026 ($ million)

Exhibit 123        Electric drives Market in the Middle East & Africa 2020–2026 ($ million)

Exhibit 124        Incremental Growth in the Middle East & Africa 2020 & 2026

Exhibit 125        Saudi Arabia: Key Insights

Exhibit 126        Electric Drives Market in Saudi Arabia 2020–2026 ($ million)

Exhibit 127        Manufacturing Production Insights: Turkey

Exhibit 128        Electric Drives Market in Turkey 2020–2026 ($ million)

Exhibit 129        Electric Drives Market in the Rest of Middle East & Africa 2020–2026 ($ million)

Exhibit 130        Factors Influencing Competitive Position

Exhibit 131        Factors Influencing M&A Strategies

Exhibit 132        Competitive Outlook

             

             

List Of Tables   

Table 1               Key Caveats

Table 2               Currency Conversion 2013−2020

Table 3               AC Drives Market by Geography 2020−2026 ($ billion)

Table 4               DC Drives Market by Geography 2020−2026 ($ billion)

Table 5               Low Voltage Electric Drives by Geography 2020−2026 ($ billion)

Table 6               Medium Voltage Electric Drives by Geography 2020−2026 ($ billion)

Table 7               Direct Sales by Geography 2020−2026 ($ billion)

Table 8               Indirect Sales by Geography 2020−2026 ($ billion)

Table 9               Electric Drives Market by Metal & Mining Industry: Market by Geography 2020−2026 ($ million)

Table 10             Electric Drives Market by F&B Industry: Market by Geography 2020−2026 ($ million)

Table 11             Electric Drives Market by Chemicals Industry: Market by Geography 2020−2026 ($ million)

Table 12             Electric Drives Market by Oil & Gas Industry: Market by Geography 2020−2026 ($ million)

Table 13             Water & Wastewater Electric Drives Market by Geography 2020−2026 ($ million)

Table 14             Electric Drives Market by Power Generation Industry: Market by Geography 2020−2026 ($ million)

Table 15             Electric Drives Market by Packaging Industry: Market by Geography 2020−2026 ($ million)

Table 16             Electric drives Market by Textile Industry: Market by Geography 2020−2026 ($ million)

Table 17             Electric Drives Market by Cement Industry: Market by Geography 2020−2026 ($ million)

Table 18             Electric Drives Market by Paper & Pulp Industry: Market by Geography 2020−2026 ($ million)

Table 19             Electric Drives Market by Rubber & Plastic Industry: Market by Geography 2020−2026 ($ million)

Table 20             Electric drives Market by Forestry And Woodworking Industry: Market by Geography 2020−2026 ($ million)

Table 21             Electric Drives Market by Other Industries: Market by Geography 2020−2026 ($ million)

Table 22             Electric Drives Market in APAC by Sales Channel 2020−2026 ($ billion)

Table 23             Electric Drives Market in APAC by Product Type 2020−2026 ($ billion)

Table 24             Electric Drives Market in APAC by Voltage 2020−2026 ($ billion)

Table 25             Electric Drives Market in APAC by End-User 2020−2026 ($ million)

Table 26             Electric Drives Market in Europe by Sales Channel 2020−2026 ($ million)

Table 27             Electric Drives Market in Europe by Product Type 2020−2026 ($ billion)

Table 28             Electric Drives Market in Europe by Voltage 2020−2026 ($ billion)

Table 29             Electric Drives Market in Europe by End-User 2020−2026 ($ million)

Table 30             Electric Drives Market in North America by Sales Channel 2020−2026 ($ million)

Table 31             Electric Drives Market in North America by Product Type 2020−2026 ($ million)

Table 32             Electric Drives Market in North America by Voltage 2020−2026 ($ million)

Table 33             Electric Drives Market in North America by End-User 2020−2026 ($ million)

Table 34             Electric Drives Market in Latin America by Sales Channel 2020−2026 ($ million)

Table 35             Electric Drives Market in Latin America by Product Type 2020−2026 ($ million)

Table 36             Electric Drives Market in Latin America by Voltage 2020−2026 ($ million)

Table 37             Electric Drives Market in Latin America by End-User 2020−2026 ($ million)

Table 38             Electric drives Market in the Middle East & Africa by Sales Channel 2020−2026 ($ million)

Table 39             Electric Drives Market in the Middle East & Africa by Product Type 2020−2026 ($ million)

Table 40             Electric Drives Market in the Middle East & Africa by Voltage 2020−2026 ($ million)

Table 41             Electric Drives Market in the Middle East & Africa by End-User 2020−2026 ($ million)

Table 42             ABB: Major Product Offerings

Table 43             Danfoss: Major Product Offerings

Table 44             Emerson Electric: Major Product Offerings

Table 45             Fuji Electric: Major Product Offerings

Table 46             Mitsubishi Electric: Major Product Offerings

Table 47             Parker-Hannifin Corporation: Major Product Offerings

Table 48             Siemens: Major Product Offerings

Table 49             Rockwell Automation: Major Product Offerings

Table 50             Schneider Electric: Major Product Offerings

Table 51             WEG: Major Product Offerings

Table 52             Nidec Corporation: Major Product Offerings

Table 53             Yaskawa Electric: Major Product Offerings

Table 54             Hiconics Drive Technology: Major Product Offerings

Table 55             Inovance Technology: Major Product Offerings

Table 56             KEB Automation: Major Product Offerings

Table 57             Sew-Eurodrive India: Major Product Offerings

Table 58             Teco Westinghouse: Major Product Offerings

Table 59             Toshiba International Corporation: Major Product Offerings

Table 60             Global Electric Drives Market by Geography 2020−2026 ($ billion)

Table 61             Global Electric Drives Market by Geography 2020−2026 (% Share)

Table 62             Global Electric Drives Market by Product Type 2020−2026 ($ billion)

Table 63             Global Electric Drives Market by Product Type 2020−2026 (% Share)

Table 64             Global Electric Drives Market by Voltage 2020−2026 ($ billion)

Table 65             Global Electric Drives Market by Voltage 2020−2026 (% Share)

Table 66             Global Electric Drives Market by Sales Channel 2020−2026 ($ billion)

Table 67             Global Electric Drives Market by Sales Channel 2020−2026 (% Share)

Table 68             Global Electric Drives Market by End-User 2020−2026 ($ billion)

Table 69             Global Electric Drives Market by End-User 2020−2026 (% Share)

Table 70             Electric Drives Market by Voltage in APAC 2020−2026 ($ billion)

Table 71             Electric Drives Market by Voltage in APAC 2020−2026 (% Share)

Table 72             Electric Drives Market by Product Type in APAC 2020−2026 ($ billion)

Table 73             Electric Drives Market by Product Type in APAC 2020−2026 (% Share)

Table 74             Electric Drives Market by Sales Channel in APAC 2020−2026 ($ billion)

Table 75             Electric Drives Market by Sales Channel in APAC 2020−2026 (% Share)

Table 76             Electric Drives Market by End-User in APAC 2020−2026 ($ million)

Table 77             Electric Drives Market by End-User in APAC 2020−2026 (% Share)

Table 78             Electric Drives Market by Voltage in Europe 2020−2026 ($ billion)

Table 79             Electric Drives Market by Voltage in Europe 2020−2026 (% Share)

Table 80             Electric Drives Market by Product Type in Europe 2020−2026 ($ billion)

Table 81             Electric Drives Market by Product Type in Europe 2020−2026 (% Share)

Table 82             Electric Drives Market by Sales Channel in Europe 2020−2026 ($ million)

Table 83             Electric Drives Market by Sales Channel in Europe 2020−2026 (% Share)

Table 84             Electric Drives Market by End-User in Europe 2020−2026 ($ million)

Table 85             Electric Drives Market by End-User in Europe 2020−2026 (% Share)

Table 86             Electric Drives Market by Voltage in North America 2020−2026 ($ million)

Table 87             Electric Drives Market by Voltage in North America 2020−2026 (% Share)

Table 88             Electric Drives Market by Product Type in North America 2020−2026 ($ million)

Table 89             Electric Drives Market by Product Type in North America 2020−2026 (% Share)

Table 90             Electric Drives Market by Sales Channel in North America 2020−2026 ($ million)

Table 91             Electric Drives Market by Sales Channel in North America 2020−2026 (% Share)

Table 92             Electric Drives Market by End-User in North America 2020−2026 ($ million)

Table 93             Electric Drives Market by End-User in North America 2020−2026 (% Share)

Table 94             Electric Drives Market by Voltage in Latin America 2020−2026 ($ million)

Table 95             Electric Drives Market by Voltage in Latin America 2020−2026 (% Share)

Table 96             Electric Drives Market by Product Type in Latin America 2020−2026 ($ million)

Table 97             Electric Drives Market by Product Type in Latin America 2020−2026 (% Share)

Table 98             Electric Drives Market by Sales Channel in Latin America 2020−2026 ($ million)

Table 99             Electric Drives Market by Sales Channel in Latin America 2020−2026 (% Share)

Table 100           Electric Drives Market by End-User in Latin America 2020−2026 ($ million)

Table 101           Electric Drives Market by End-User in Latin America 2020−2026 (% Share)

Table 102           Electric Drives Market by Voltage in Middle East & Africa 2020−2026 ($ million)

Table 103           Electric Drives Market by Voltage in Middle East & Africa 2020−2026 (% Share)

Table 104           Electric Drives Market by Product Type in Middle East & Africa 2020−2026 ($ million)

Table 105           Electric Drives Market by Product Type in Middle East & Africa 2020−2026 (% Share)

Table 106           Electric Drives Market by Sales Channel in Middle East & Africa 2020−2026 ($ million)

Table 107           Electric Drives Market by Sales Channel in Middle East & Africa 2020−2026 (% Share)

Table 108           Electric Drives Market by End-User in Middle East & Africa 2020−2026 ($ million)

Table 109           Electric Drives Market by End-User in Middle East & Africa 2020−2026 (% Share)

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