Global Low Voltage AC Drives Market Size, Share, Opportunities, And Trends By Power Range (Micro, Low), By Capacity (Less than 7.5 kW, 7.5 kW - Less than 22 kW, 22 kW - Less than 75 kW, Greater than or equal 75 kW - Greater than 110 kW, Greater than or equal 110 kW - Less than 500 kW, Greater than or equal 500 kW), By End-User (Automotive, Oil and gas, Government Chemical and Petroleum, Metal and Mining, HVAC, Pulp and Paper, Others), And By Geography - Forecasts From 2024 To 2029

The global Low voltage AC drives market is projected to grow at a CAGR of 5.14% from US$13.275 billion in 2022 to US$18.856 billion in 2029 during the forecast period.

Low voltage (LV) drives can cover the voltage range of 100 to 690 volts and power from several watts to megawatts. The benefit of the low voltage AC drives is standard products offering by a wide range of manufacturers. The drive system can be connected to the grid and generates a 3-phase voltage which is variable in amplitude and frequency. This is useful in controlling of the electrical motor in torque and speed. 

The adaptation of energy-efficient electrical equipment in residential and commercial purposes, the application of low-voltage AC drives has the significant growth. The demand is further increased by the product adaptation of products such as elevators, fans, pumps, Air-conditioning fans, food machines, crane/automatic warehouses, oil & gas industry.

Further, the adaptation of the product is driven by the growing trend of urbanization and industrialization in developing economies. The emerging economies are looking for products that are sustainable and cost-saving.

Market Drivers

• Integration with industrial IoT is contributing to the global low-voltage AC drives market growth

The integration of low-voltage AC drives with Industrial Internet of Things (IIoT) platforms allows for remote monitoring, diagnostics, and predictive maintenance of motor-driven systems. This integration improves asset management and operational efficiency, and cost savings.

UCC57108-Q1 product by Texas Instruments Incorporated has the capacity for applications such as PTC heaters, traction inverter active discharge circuits, and subsystems. This device is operating within the temperature range of -40 to 125 (°C). It gives automotive solutions to the single-channel, high-performance low-side IGBT/SiC gate driver. The system is programmed for the soft turn-off, programmable delay, and thermal shutdown function for protection.

The market is driven by the functioning of internet-connected systems for energy efficiency and better control. The application of AI (artificial intelligence) further expanded the innovation in the market. AI (artificial intelligence) has multiple applications in the electrical market from power-saving devices to remote sensing.

• Rising demand for HVAC Systems is contributing to the global low-voltage AC drives market growth

The need for heating, ventilation, and air conditioning (HVAC) systems is increasing owing to urbanization, infrastructural development, and changing climatic conditions. Low-voltage AC drives are used in HVAC applications to regulate the speed of motors in fans, pumps, and compressors, resulting in increased energy efficiency and system performance.

One of the products is the U1000, a compact, all-in-one solution for low harmonics and complete regeneration that provides excellent flexibility and motor control performance. It complies with IEEE 519 standards, saves energy, and has a multi-language LCD, continuous auto-tuning, high-frequency injection, communication options, DriveWizard computer software, USB Copy Unit, and keypad configuration storing.

Overall, the rising demand for energy-efficient and high-performance HVAC solutions is driving the adoption of low-voltage AC drives across residential, commercial, and industrial sectors, contributing significantly to its global market growth.

Market Restraints

• Complexity of installation and integration hamper the market growth

Installing and integrating low-voltage AC drives into existing systems can be difficult, requiring knowledge in electrical engineering, programming, and system integration. Some firms may encounter difficulties adapting AC drives to older equipment as it would cause difficulty for the adaptation.

The global low-voltage AC drives market is segmented based on power range, capacity and by end-user.

Low-voltage AC drives are segmented by power range into micro and low. This division further gets into the size of the device capacity such as less than 7.5 kW, between 7.5 kW to 22 kW, between 22 kW to less than 75 kW, between 75 kW to greater than 110 kW, 110 kW to  500 kW, and greater than 500 kW. The device applies to various end-user industries such as automotive, oil and gas, government chemical and petroleum, metal and mining, HVAC, pulp and paper, and others. The automotive industry demand is driven by the demand for electric vehicles, oil and gas industry is driven by the general increase in demand for energy consumption.

North America is anticipated to hold a significant share of the global low-voltage AC drives market

North America has a well-developed industrial infrastructure across various manufacturing, oil and gas, automotive, chemicals, and food and beverage sectors. These industries heavily rely on automation and motor control solutions, driving the demand for low-voltage AC drives.

Electricity has been an essential part of the modern economy and life of Americans. People use electricity for various purposes such as appliances, computers, electronics, machinery, and public transportation systems. The consumption of electricity for the US economy was about 4.07 trillion kWh in 2022. This is an increase from 2021 to 3.2%. The industrial sector share of U.S. electricity was  26.0% in the year 2022.

The large amount of electricity consumed in the United States needed devices for applications such as Low-voltage AC drives for to adjust the speed and torque of standard AC motors. The benefits of low-voltage AC drives include energy savings, easy installation, and overall ease of use. The market in North America would be driven by the increased demand for electricity in various industrial domains.

Key Developments

• February 2024- ABB acquired SEAM Group, which would give ABB broader service offerings. This would give the 3,000 additional customer sites, with industrial asset management and advisory services in the US. This acquisition gives ABB increasing demand to modernize and optimize assets for better operations. SEAM Group gives strategic advisory, custom training, advanced technology, and data management solutions.  SEAM Group had about 250 employees, and more than 1 million energized assets. These are for the over 800 active clients operating across 50 US states, Americas, EMEA, and Asia.
• October 2023- ABB has introduced the ACS180 machinery drive in the Canadian market. This is the new ABB’s low voltage AC drives portfolio. It is user-friendly, and energy-efficient for motor and process control, for smooth functioning. It gives closed-loop encoder support to the machinery drive family. ACS180 gives an affordable and simple-to-integrate drive option. It has a global standard and warranty.

Company Products

• ACS880 – This product offers a voltage range from 0.55 to 6000 kW, 230 to 690 V. Having direct torque control (DTC) for precise open and closed loop control. It is designed for any industry. It consists of single drives, multi drives, and drive modules. It can communicate with all major automation networks. Inclusion of classes IP00, IP20, IP21, IP42, IP54 and IP55.
• D1000 – D1000 by Yaskawa has IEEE 519 Compliance and could have less than 5% iTHD at input terminals. Having the facility of multi-language LCD Display. The product has the network protocol of DeviceNet™ w/ ADR,        EtherNet/IP, EtherCAT, MECHATROLINK-II, Modbus TCP/IP, Dual Port Modbus TCP/IP, Modbus RTU, and PROFINET. Got the certification of UL, CSA B44.1, CE, RoHS. Can be expanded to 2 analog outputs and 8 digital outputs. It gives an overload capacity of 50% for 30 seconds, and 200% for 3 seconds.
• Altivar 303 – Altivar 303 by Schneider Electric is a variable frequency drive for a 3-phase asynchronous motor, 0.37 to 11 kW.  The product finds applications in conveyors, packaging/packing, textile machines, food processing, pumping handling printing machines. It features robustness in harsh environmental conditions easy-to-plug and easy-to-play. It displays an ambient operating temperature of 55?c.

Market Segmentation

• By Power Range
  • Micro
  • Low
• By Capacity
  • < 7.5 kW
  • 7.5 kW - < 22 kW
  • 22 kW - < 75 kW
  • ≥ 75 kW - <110 kW
  • ≥ 110 kW - < 500 kW
  • ≥ 500 kW
• By End-User
  • Automotive
  • Oil and gas
  • Government Chemical and Petroleum
  • Metal and Mining
  • HVAC
  • Pulp and Paper
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Taiwan
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits to the stakeholder

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. LOW VOLTAGE AC DRIVES MARKET BY POWER RANGE 

5.1. Introduction

5.2. Micro

5.2.1. Market opportunities and trends

5.2.2. Growth prospects

5.2.3. Geographic lucrativeness 

5.3. Low

5.3.1. Market opportunities and trends

5.3.2. Growth prospects

5.3.3. Geographic lucrativeness 

6. LOW VOLTAGE AC DRIVES MARKET BY CAPACITY

6.1. Introduction

6.2. < 7.5 kW

6.2.1. Market opportunities and trends

6.2.2. Growth prospects

6.2.3. Geographic lucrativeness 

6.3. 7.5 kW - < 22 kW

6.3.1. Market opportunities and trends

6.3.2. Growth prospects

6.3.3. Geographic lucrativeness 

6.4. 22 kW - < 75 kW

6.4.1. Market opportunities and trends

6.4.2. Growth prospects

6.4.3. Geographic lucrativeness 

6.5. ≥ 75 kW - <110 kW

6.5.1. Market opportunities and trends

6.5.2. Growth prospects

6.5.3. Geographic lucrativeness 

6.6. ≥ 110 kW - < 500 kW

6.6.1. Market opportunities and trends

6.6.2. Growth prospects

6.6.3. Geographic lucrativeness 

6.7. ≥ 500 kW

6.7.1. Market opportunities and trends

6.7.2. Growth prospects

6.7.3. Geographic lucrativeness 

7. LOW VOLTAGE AC DRIVES MARKET BY END-USER

7.1. Introduction

7.2. Automotive

7.2.1. Market opportunities and trends

7.2.2. Growth prospects

7.2.3. Geographic lucrativeness 

7.3. Oil and gas

7.3.1. Market opportunities and trends

7.3.2. Growth prospects

7.3.3. Geographic lucrativeness 

7.4. Government Chemical and Petroleum

7.4.1. Market opportunities and trends

7.4.2. Growth prospects

7.4.3. Geographic lucrativeness 

7.5. Metal and Mining

7.5.1. Market opportunities and trends

7.5.2. Growth prospects

7.5.3. Geographic lucrativeness 

7.6. HVAC

7.6.1. Market opportunities and trends

7.6.2. Growth prospects

7.6.3. Geographic lucrativeness 

7.7. Pulp and Paper

7.7.1. Market opportunities and trends

7.7.2. Growth prospects

7.7.3. Geographic lucrativeness 

7.8. Others

7.8.1. Market opportunities and trends

7.8.2. Growth prospects

7.8.3. Geographic lucrativeness 

8. LOW VOLTAGE AC DRIVES MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Power Range

8.2.2. By Capacity

8.2.3. By End-user

8.2.4. By Country

8.2.4.1. United States

8.2.4.1.1. Market Trends and Opportunities

8.2.4.1.2. Growth Prospects

8.2.4.2. Canada

8.2.4.2.1. Market Trends and Opportunities

8.2.4.2.2. Growth Prospects

8.2.4.3. Mexico

8.2.4.3.1. Market Trends and Opportunities

8.2.4.3.2. Growth Prospects

8.3. South America

8.3.1. By Power Range

8.3.2. By Capacity

8.3.3. By End-user

8.3.4. By Country

8.3.4.1. Brazil 

8.3.4.1.1. Market Trends and Opportunities

8.3.4.1.2. Growth Prospects 

8.3.4.2. Argentina

8.3.4.2.1. Market Trends and Opportunities

8.3.4.2.2. Growth Prospects

8.3.4.3. Others

8.3.4.3.1. Market Trends and Opportunities

8.3.4.3.2. Growth Prospects

8.4. Europe

8.4.1. By Power Range

8.4.2. By Capacity

8.4.3. By End-user

8.4.4. By Country

8.4.4.1. Germany

8.4.4.1.1. Market Trends and Opportunities

8.4.4.1.2. Growth Prospects

8.4.4.2. France

8.4.4.2.1. Market Trends and Opportunities

8.4.4.2.2. Growth Prospects

8.4.4.3. United Kingdom

8.4.4.3.1. Market Trends and Opportunities

8.4.4.3.2. Growth Prospects

8.4.4.4. Spain

8.4.4.4.1. Market Trends and Opportunities

8.4.4.4.2. Growth Prospects

8.4.4.5. Others

8.4.4.5.1. Market Trends and Opportunities

8.4.4.5.2. Growth Prospects

8.5. Middle East and Africa

8.5.1. By Power Range

8.5.2. By Capacity

8.5.3. By End-user

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.1.1. Market Trends and Opportunities

8.5.4.1.2. Growth Prospects

8.5.4.2. UAE

8.5.4.2.1. Market Trends and Opportunities

8.5.4.2.2. Growth Prospects

8.5.4.3. Israel

8.5.4.3.1. Market Trends and Opportunities

8.5.4.3.2. Growth Prospects  

8.5.4.4. Others

8.5.4.4.1. Market Trends and Opportunities

8.5.4.4.2. Growth Prospects

8.6. Asia Pacific

8.6.1. By Power Range

8.6.2. By Capacity

8.6.3. By End-user

8.6.4. By Country

8.6.4.1. China

8.6.4.1.1. Market Trends and Opportunities

8.6.4.1.2. Growth Prospects

8.6.4.2. Japan

8.6.4.2.1. Market Trends and Opportunities

8.6.4.2.2. Growth Prospects

8.6.4.3. India

8.6.4.3.1. Market Trends and Opportunities

8.6.4.3.2. Growth Prospects

8.6.4.4. South Korea

8.6.4.4.1. Market Trends and Opportunities

8.6.4.4.2. Growth Prospects

8.6.4.5. Indonesia

8.6.4.5.1. Market Trends and Opportunities

8.6.4.5.2. Growth Prospects

8.6.4.6. Taiwan

8.6.4.6.1. Market Trends and Opportunities

8.6.4.6.2. Growth Prospects

8.6.4.7. Others

8.6.4.7.1. Market Trends and Opportunities

8.6.4.7.2. Growth Prospects

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisition, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. ABB Ltd.

10.2. Schneider Electric

10.3. Hitachi, Ltd.

10.4. Siemens AG

10.5. Rockwell Automation

10.6. Fuji Electric Co., Ltd.

10.7. CG Power & Industrial Solutions Ltd

10.8. Texas Instruments

10.9. Yaskawa America

10.10. Hiconics Eco-energy Technology

ABB Ltd.

Schneider Electric

Hitachi, Ltd.

Siemens AG

Rockwell Automation

Fuji Electric Co., Ltd.

CG Power & Industrial Solutions Ltd

Texas Instruments

Yaskawa America

Hiconics Eco-energy Technology