Low Voltage Drives Market outlook, regional growth & share by 2028 (1)

1
Low Voltage Drives Market outlook, regional
growth share by 2028

• Rising emphasis on global energy-efficiency goals
  will augment the use of low voltage drives to
  curb power consumption.
• Low voltage drives are coming to be considered a
  cost-effective industrial solution with a
  low-electricity consumption attribute, serving
  the needs of myriad verticals including power
  generation. With the focus on energy efficiency
  growing, the deployment of low voltage VFD
  (variable frequency drive) is slated to
  proliferate worldwide.
• Since low-voltage drives consume less electricity
  and demonstrate strong application potential in
  the renewable energy industry, the introduction
  of energy efficiency and carbon reduction
  strategies could generate lucrative growth
  prospects for the low voltage drives market.

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• Major investments directed towards airport
  improvement projects and construction of new
  airports will be supplementing airport moving
  walkways industry share through 2026. Developing
  countries, including India, China, Japan, etc.
  are likely to exhibit a substantial hike in
  budget allocation for the development of airport
  infrastructure by 2022.

• For instance, ACV (Airports Corp. of Vietnam) is
  planning to invest around USD 14.7 billion for
  the construction of new passenger terminals and
  runways in coming years. Likewise, China proposed
  to expand commercial airports in the country to
  around 260 till 2020, which will further go up in
  number by 2040. These developments will further
  fuel airport moving walkways demand over the
  projected timeframe.

• Another key reason behind the burgeoning adoption
  of low voltage AC drives is the implementation of
  regulatory measures to save electricity. The
  Indian government, for example, unveiled plans to
  mandate new residential buildings to be compliant
  with the energy efficiency code in April 2022, a
  move that can help save over 1.5 billion worth
  of electricity by 2030. Factors like these could
  boost the popularity of low voltage drives to
  efficiently control electric motor speed and
  torque.

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• Regional Analysis

• As per a 2020 annual survey conducted by the U.S.
  EIA (Energy Information Administration), over 502
  electric utilities had EE programs that led to an
  estimated 28,167,459 MWh or nearly 28.2 billion
  kWh reductions in annual electricity consumption.
  Also, as of September 2021, 25 states had
  mandatory statewide EERS and 5 states and the
  District of Columbia had energy efficiency goals,
  which could bolster the demand for efficient low
  voltage drives.
• In addition, U.S. President Bidens Bipartisan
  Infrastructure Law announced 225 million in
  funding to improve building codes. The reduction
  of emissions from commercial and residential
  buildings is also crucial to achieving President
  Bidens target of a 100 clean electrical grid by
  2035 as well as net-zero carbon emissions by 2050.

• Competitive Analysis

• Siemens, ABB, NIDEC CORPORATION, Bosch Rexroth
  AG, Schneider Electric, Emerson Electric Co.,
  Mitsubishi Electric Corporation, WEG, Rockwell
  Automation

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