Asia Pacific Electric Drives Facts and Figures

Market Overview

It is anticipated that the Asia Pacific electric drives market will witness a compound annual growth rate (CAGR) of 4.1% from 2024 to 2029, reaching a value of USD 5,267.1 million in 2029.

The Asia Pacific electric drives market is categorized by product type into AC drives, DC drives, and servo drives. In 2023, the AC drives segment dominated the market. The valuation of the AC drives segment is projected to reach USD 4,499.8 million by 2029. Additionally, the servo drives segment is expected to exhibit the highest CAGR of 5.1% during the forecast period from 2024 to 2029.

When considering the market size of the Asia Pacific electric drives market in terms of revenue, specifically broken down by low-voltage electric drives and medium-voltage electric drives, the total revenue of the low-voltage electric drives segment is expected to reach USD 4,288.9 million in 2029, with a CAGR of 4.1% from 2024 to 2029.

The Asia Pacific electric drives market can be further divided into various industries including oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R, paper, discrete manufacturing, and others. The discrete manufacturing segment is projected to reach USD 947.6 million by 2029, representing a CAGR of 5.4% over the forecast period from 2024 to 2029. Additionally, the revenue of the food & beverages segment is expected to grow at a CAGR of 4.5%, reaching USD 339.5 million in 2029.

In 2023, China, Japan, and India were identified as the top three countries leading the Asia Pacific electric drives market, collectively holding around 75% market share.

Key players in this market include ABB, Ltd., Siemens AG, Danfoss A/S, Yaskawa Electric Corporation, Schneider Electric SE, Shanghai Electric Group Co., Ltd., and Toshiba Corporation. These top seven companies jointly commanded approximately 60% market share in 2022, highlighting their significant presence and influence within the industry.

This study aims to analyze the Asia Pacific market for various segments of electric drives, including:

Product Type: AC Drives, DC Drives, and Servo Drives.
Voltage: Low-voltage Electric Drives and Medium-voltage Electric Drives.
End-User: Oil & Gas, Petrochemicals, Power Generation, Minerals, Water Treatment, Food & Beverages, HVAC-R, Paper, Discrete Manufacturing, and Others.
Region: China, Japan, India, South Korea, Australia, Indonesia, Thailand, and Rest of Asia Pacific.

Table of Contents

TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 3
Part 1. Key Findings 5
Part 2. Scope and Methodology 6
Report Scope 7
Product Type 7
Voltage 7
End-User 7
Region 7
Research Methodology 9
Part 3. Electric Drives Market Overview 11
Summary 11
Introduction 12
Part 4. Asia Pacific Electric Drives Market by Product Type 13
AC Drives Market by End-User 15
DC Drives Market by End-User 17
Servo Drives Market by End-User 19
Part 5. Asia Pacific Electric Drives Market by Voltage 21
Part 6. Asia Pacific Electric Drives Market by End-User 23
Part 7. Asia Pacific Electric Drives Market by Region 25
Part 8. Competitive Analysis 26
Competition Overview 26
ABB, Ltd. 27
Business Overview 27
Contact Information 30
Siemens AG 31
Business Overview 31
Contact Information 33
Danfoss A/S 34
Business Overview 34
Contact Information 36
Yaskawa Electric Corporation 37
Business Overview 37
Contact Information 39
Schneider Electric SE 40
Business Overview 40
Contact Information 42
Shanghai Electric Group Co., Ltd. 43
Business Overview 43
Contact Information 45
Toshiba Corporation 46
Business Overview 46
Contact Information 48
Disclaimer 49
FIGURES AND TABLES
Asia Pacific Electric Drives Market, Net Growth, 2020-2029 (USD Million)
Asia Pacific Electric Drives Market by Product Type, 2020-2029 (USD Million)
Asia Pacific Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
Asia Pacific AC Electric Drives Market by End-User, 2020-2029 (USD Million)
Asia Pacific AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Asia Pacific DC Electric Drives Market by End-User, 2020-2029 (USD Million)
Asia Pacific DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Asia Pacific Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
Asia Pacific Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Asia Pacific Electric Drives Market by Voltage, 2020-2029 (USD Million)
Asia Pacific Electric Drives Market by Voltage, CAGR Historic and Forecast, 2020-2029
Asia Pacific Electric Drives Market by End-User, 2020-2029 (USD Million)
Asia Pacific Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Asia Pacific Electric Drives Market Share by Country, 2023
Asia Pacific Electric Drives Market Share (%) by Competitors, 2022
ABB, Ltd. Financial Overview (USD Million)
ABB, Ltd. Revenue, by Type, 2022
ABB, Ltd. Revenue, by Segment, 2022
ABB, Ltd. Revenue, by Product, 2022
ABB, Ltd. Revenue, by Region, 2022
Siemens AG Financial Overview (EUR Million)
Siemens AG Revenue, by Segment, 2022
Siemens AG Revenue, by Region, 2022
Danfoss A/S Financial Overview (EUR Million)
Danfoss A/S Revenue, by Segment, 2022
Danfoss A/S Revenue, by Region, 2022
Yaskawa Electric Corporation Financial Overview (JPY Million)
Yaskawa Electric Corporation Revenue, by Segment, 2023
Yaskawa Electric Corporation Revenue, by Region, 2023
Schneider Electric SE Financial Overview (EUR Million)
Schneider Electric SE Revenue, by Segment, 2022
Shanghai Electric Group Co., Ltd. Financial Overview (CNY Billion)
Shanghai Electric Group Co., Ltd. Revenue, by Segment, 2023
Shanghai Electric Group Co., Ltd. Revenue, by Region, 2023
Toshiba Corporation Financial Overview (JPY Million)
Toshiba Corporation Revenue, by Region, 2023
Toshiba Corporation Revenue, by Segment, 2023