The global low-voltage electric drives market is anticipated to expand at a Compound Annual Growth Rate (CAGR) of 3.4% from 2024 to 2029, reaching a value of USD 11,512.6 million by the end of 2029. This market is segmented by product type into Low-voltage AC drives, Low-voltage DC drives, and Low-voltage servo drives. In 2023, the Low-voltage AC drives segment dominated the market, with a projected valuation of USD 9,656.7 million by 2029. Additionally, the Low-voltage servo drives segment is expected to demonstrate the highest CAGR of 4.0% during the forecast period from 2024 to 2029.
The global low-voltage electric drives market is further categorized into various sectors including oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R, paper, discrete manufacturing, and others. The discrete manufacturing segment is forecasted to reach USD 1,685.1 million by 2029, reflecting a CAGR of 4.2% between 2024 and 2029.
Geographically, Asia-Pacific emerged as the leading player in the global low-voltage electric drives market in 2023, closely followed by Europe and North America. The North American region is projected to achieve a valuation of USD 3,143.6 million by 2029, while the Asia-Pacific region is expected to exhibit a higher CAGR of 4.1% during the forecasted period from 2024 to 2029.
Key players in the global low-voltage electric drives market include Siemens AG, ABB, Ltd., Danfoss A/S, Schneider Electric SE, Shanghai Electric Group Co., Ltd., Toshiba Corporation, WEG SA, and Yaskawa Electric Corporation. According to Tanalyze Ltd.’s report, these top companies collectively held over 40% of the market share in 2022, underscoring their significant influence within the industry.
This study aims to analyze the global 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: North America (USA, Canada, and Mexico), Europe (Germany, Italy, Russia, United Kingdom, France, Poland, Sweden, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Thailand, and Rest of Asia Pacific), Latin America (Brazil, Chile, Colombia, and Latin America), MEA (Saudi Arabia, UAE, Iran, Turkey, South Africa, and Rest of MEA).
Table of Contents
TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 5
Part 1. Key Findings 7
Part 2. Scope and Methodology 8
Report Scope 9
Product Type 9
End-User 9
Region 9
Research Methodology 11
Part 3. Low-Voltage Electric Drives Market Overview 13
Summary 13
Introduction 14
Part 4. Global Low-Voltage Electric Drives Market by Product Type 15
Low-voltage AC Drives Market by End-User 17
Low-voltage DC Drives Market by End-User 19
Low-voltage Servo Drives Market by End-User 21
Part 5. Global Low-Voltage Electric Drives Market by End-User 23
Part 6. Global Low-Voltage Electric Drives Market by Region 25
Part 7. North America Low-Voltage Electric Drives Market 28
Market by Product Type 28
Low-voltage AC Drives Market by End-User 30
Low-voltage DC Drives Market by End-User 32
Low-voltage Servo Drives Market by End-User 34
Market by End-User 36
Market by Country 38
Market by Competitors 39
Part 8. Europe Low-Voltage Electric Drives Market 40
Market by Product Type 40
Low-voltage AC Drives Market by End-User 42
Low-voltage DC Drives Market by End-User 44
Low-voltage Servo Drives Market by End-User 46
Market by End-User 48
Market by Country 50
Market by Competitors 51
Part 9. Asia Pacific Low-Voltage Electric Drives Market 52
Market by Product Type 52
Low-voltage AC Drives Market by End-User 54
Low-voltage DC Drives Market by End-User 56
Low-voltage Servo Drives Market by End-User 58
Market by End-User 60
Market by Country 62
Market by Competitors 63
Part 10. Latin America Low-Voltage Electric Drives Market 64
Market by Product Type 64
Low-voltage AC Drives Market by End-User 66
Low-voltage DC Drives Market by End-User 68
Low-voltage Servo Drives Market by End-User 70
Market by End-User 72
Market by Country 74
Market by Competitors 75
Part 11. MEA Low-Voltage Electric Drives Market 76
Market by Product Type 76
Low-voltage AC Drives Market by End-User 78
Low-voltage DC Drives Market by End-User 80
Low-voltage Servo Drives Market by End-User 82
Market by End-User 84
Market by Country 86
Market by Competitors 87
Part 12. Competitive Analysis 88
Competition Overview 88
Siemens AG 89
Business Overview 89
Contact Information 91
ABB, Ltd. 92
Business Overview 92
Contact Information 95
Danfoss A/S 96
Business Overview 96
Contact Information 98
Schneider Electric SE 99
Business Overview 99
Contact Information 101
Rockwell Automation, Inc. 102
Business Overview 102
Contact Information 105
Nidec Corporation 106
Business Overview 106
Small Precision Motors 108
Contact Information 109
Yaskawa Electric Corporation 110
Business Overview 110
Contact Information 112
WEG SA 113
Business Overview 113
Contact Information 116
Shanghai Electric Group Co., Ltd. 117
Business Overview 117
Contact Information 119
Toshiba Corporation 120
Business Overview 120
Contact Information 122
Disclaimer 123
FIGURES AND TABLES
Global Low-Voltage Electric Drives Market, Net Growth, 2020-2029 (USD Million)
Global Low-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
Global Low-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
Global Low-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
Global Low-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Global Low-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
Global Low-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Global Low-Voltage Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
Global Low-Voltage Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Global Low-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
Global Low-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Global Low-voltage Electric Drives Market Share by Region, 2023
Global Low-voltage Electric Drives Market by Region, 2020-2029 (USD Million)
Global Low-voltage Electric Drives Market by Region, CAGR Historic and Forecast, 2020-2029
North America Low-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
North America Low-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
North America Low-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Low-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Low-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Low-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Low-Voltage Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Low-Voltage Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Low-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Low-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Low-Voltage Electric Drives Market Share by Country, 2023
North America Low-Voltage Electric Drives Market Share (%) by Competitors, 2022
Europe Low-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
Europe Low-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
Europe Low-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
Europe Low-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Europe Low-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
Europe Low-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Europe Low-Voltage Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
Europe Low-Voltage Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Europe Low-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
Europe Low-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Europe Low-Voltage Electric Drives Market Share by Country, 2023
Europe Low-Voltage Electric Drives Market Share (%) by Competitors, 2022
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
Latin America Low-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
Latin America Low-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
Latin America Low-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
Latin America Low-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America Low-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
Latin America Low-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America Low-Voltage Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
Latin America Low-Voltage Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America Low-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
Latin America Low-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America Low-Voltage Electric Drives Market Share by Country, 2023
Latin America Low-Voltage Electric Drives Market Share (%) by Competitors, 2022
MEA Low-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
MEA Low-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
MEA Low-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
MEA Low-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
MEA Low-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
MEA Low-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
MEA Low-Voltage Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
MEA Low-Voltage Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
MEA Low-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
MEA Low-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
MEA Low-Voltage Electric Drives Market Share by Country, 2023
MEA Low-Voltage Electric Drives Market Share (%) by Competitors, 2022
Global Low-Voltage Electric Drives Market Share (%) by Competitors, 2022
Siemens AG Financial Overview (EUR Million)
Siemens AG Revenue, by Segment, 2022
Siemens AG Revenue, by Region, 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
Danfoss A/S Financial Overview (EUR Million)
Danfoss A/S Revenue, by Segment, 2022
Danfoss A/S Revenue, by Region, 2022
Schneider Electric SE Financial Overview (EUR Million)
Schneider Electric SE Revenue, by Segment, 2022
Rockwell Automation, Inc. Financial Overview (USD Million)
Rockwell Automation, Inc. Revenue, by Segment, 2023
Rockwell Automation, Inc. Revenue, by Type, 2023
Rockwell Automation, Inc. Revenue, by Region, 2023
Nidec Corporation Financial Overview (JPY Billion)
Nidec Corporation Revenue, by Segment, 2023
Nidec Corporation Revenue, by Region, 2023
Nidec Corporation Small Precision Motors Revenue (JPY Billion)
Yaskawa Electric Corporation Financial Overview (JPY Million)
Yaskawa Electric Corporation Revenue, by Segment, 2023
Yaskawa Electric Corporation Revenue, by Region, 2023
WEG SA Financial Overview (BRL Million)
WEG SA Revenue, by Region, 2022
WEG SA Domestic Market Revenue, by Segment, 2022
WEG SA International Market Revenue, by Region, 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