The Asia Pacific low-voltage electric drives market is poised to experience a compound annual growth rate (CAGR) of 4.1% in value terms over the forecast period, resulting in an estimated value of USD 4,288.9 million by 2029.
Within the Asia Pacific low-voltage electric drives market, product types are categorized into Low-voltage AC drives, Low-voltage DC drives, and Low-voltage servo drives. The low-voltage AC drives segment emerged as the dominant market segment in 2023, with a projected valuation of USD 3,550.4 million by 2029. Furthermore, the low-voltage servo drives segment is expected to demonstrate the highest CAGR of 5.1% from 2024 to 2029.
Various industries contribute to the low-voltage electric drives market, including oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R, paper, discrete manufacturing, among others. The discrete manufacturing segment is forecasted to reach USD 772.0 million by 2029, reflecting a robust CAGR of 5.5% during the period from 2024 to 2029. Additionally, the revenue from the food & beverages segment is anticipated to grow at a CAGR of 4.7% to USD 279.9 million by 2029.
Leading the Asia Pacific low-voltage electric drives market in 2023 are China, Japan, and India, collectively holding around 75% of the 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, underscoring their significant presence and influence within the industry.
This study aims to analyze the Asia Pacific market for various segments of low-voltage electric drives, including:
Product Type: Low-voltage AC Drives, Low-voltage DC Drives, and Low-voltage Servo 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
End-User 7
Region 7
Research Methodology 8
Part 3. Low-Voltage Electric Drives Market Overview 10
Summary 10
Introduction 11
Part 4. Asia Pacific Low-Voltage Electric Drives Market by Product Type 12
Low-voltage AC Drives Market by End-User 14
Low-voltage DC Drives Market by End-User 16
Low-voltage Servo Drives Market by End-User 18
Part 5. Asia Pacific Low-Voltage Electric Drives Market by End-User 20
Part 6. Asia Pacific Low-Voltage Electric Drives Market by Region 22
Part 7. Competitive Analysis 23
Competition Overview 23
ABB, Ltd. 24
Business Overview 24
Contact Information 27
Siemens AG 28
Business Overview 28
Contact Information 30
Danfoss A/S 31
Business Overview 31
Contact Information 33
Yaskawa Electric Corporation 34
Business Overview 34
Contact Information 36
Schneider Electric SE 37
Business Overview 37
Contact Information 39
Shanghai Electric Group Co., Ltd. 40
Business Overview 40
Contact Information 42
Toshiba Corporation 43
Business Overview 43
Contact Information 45
Disclaimer 46
FIGURES AND TABLES
Asia Pacific Low-Voltage Electric Drives Market, Net Growth, 2020-2029 (USD Million)
Asia Pacific Low-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
Asia Pacific Low-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
Asia Pacific Low-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
Asia Pacific Low-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Asia Pacific Low-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
Asia Pacific Low-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Asia Pacific Low-Voltage Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
Asia Pacific Low-Voltage Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Asia Pacific Low-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
Asia Pacific Low-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Asia Pacific Low-Voltage Electric Drives Market Share by Country, 2023
Asia Pacific Low-Voltage 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