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North America AC Drives Market
Updated On

Feb 24 2025

Total Pages

175

North America AC Drives Market Analysis 2025 and Forecasts 2033: Unveiling Growth Opportunities

North America AC Drives Market by Voltage (Low, Medium), by Application (Pump, Fan, Conveyor, Compressor, Extruder, Others), by End-Use (Oil & Gas, Power generation, Mining & metals, Pulp & paper, Marine, Others), by North America (U.S., Canada) Forecast 2025-2033

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North America AC Drives Market Analysis 2025 and Forecasts 2033: Unveiling Growth Opportunities

Key Insights

The size of the North America AC Drives Market was valued at USD 3.7 Billion in 2024 and is projected to reach USD 4.97 Billion by 2033, with an expected CAGR of 4.3% during the forecast period. The North American AC Drives Market encompasses the implementation and incorporation of AC (alternating current) drive systems that regulate the speed, torque, and direction of electric motors across different industrial, commercial, and residential uses. AC drives are commonly utilized in HVAC systems, manufacturing, energy production, and transportation industries to improve energy efficiency, lower operational expenses, and maximize motor performance. The market is propelled by the rising need for energy-saving solutions, innovations in motor control technologies, and the expanding emphasis on automation in various sectors. Furthermore, the growth of renewable energy initiatives and the demand for better power management in both the industrial and residential sectors are driving the market's growth. The rise of electric vehicles (EVs) and the shift towards more sustainable and intelligent technologies significantly contribute to the increased adoption of AC drives in the area. Given North America’s robust industrial foundation and dedication to energy efficiency, the AC Drives Market is projected to experience considerable growth, bolstered by advancements in digitalization, IoT, and automation technologies.

North America AC Drives Market Research Report - Market Size, Growth & Forecast

North America AC Drives Market Concentration & Characteristics

The market is moderately concentrated, with major players holding significant market shares. Innovation remains a key focus area, with companies investing in research and development to enhance drive performance and efficiency. The market is primarily driven by end-users seeking reliable and cost-effective AC drives. Mergers and acquisitions are a common strategy adopted by industry players to expand their product portfolios and strengthen their market positions.

North America AC Drives Market Trends

  • Growing Adoption of Variable Speed Drives: The shift towards variable speed drives is driven by their ability to optimize motor performance and reduce energy consumption.
  • Integration of Advanced Technologies: Incorporating smart technologies into AC drives, such as IoT and cloud computing, enables remote monitoring, predictive maintenance, and data analytics.
  • Rising Demand in Industrial Applications: AC drives are increasingly being used in industrial applications, such as manufacturing, oil and gas, and mining, to enhance process control and increase productivity.
  • Focus on Energy Efficiency: Stringent government regulations and corporate sustainability initiatives drive the demand for energy-efficient AC drives that can help reduce carbon emissions.

North America AC Drives Market Growth

Key Region or Country & Segment to Dominate the Market

  • Key Region: The United States is expected to dominate the North America AC Drives Market, driven by a large industrial base and a growing focus on energy efficiency.
  • Key Segment: The AC Drives with Low Voltage segment is projected to hold a significant market share due to their wide adoption in commercial and industrial applications.

North America AC Drives Market Product Insights & Deliverables

The report provides a comprehensive analysis of AC Drives in North America, including market size, market share, and growth projections for different segments. It also offers insights into market dynamics, competitive landscapes, and emerging trends. Deliverables include:

  • Market analysis and forecasts
  • Segmentation analysis
  • Competitive landscape analysis
  • Strategic recommendations

North America AC Drives Market Analysis

  • Market Size: The North America AC Drives Market size in 2022 was estimated at 2.5 Billion.
  • Market Share: ABB, Danfoss, and Eaton are the leading market players, accounting for over 50% of the market share.
  • Growth Potential: The market is expected to exhibit a steady growth rate over the forecast period.

North America AC Drives Market Regional Insights

  • United States: Dominates the market, with California being the leading state.
  • Canada: Has a growing market, driven by investments in oil and gas and mining industries.

Driving Forces

  • Growing demand for energy efficiency
  • Increasing investments in infrastructure
  • Technological advancements
  • Government incentives

Challenges and Restraints

  • Limited awareness about AC Drives benefits
  • High initial investment cost
  • Availability of cheaper alternatives

Emerging Trends

  • Smart AC Drives with IoT integration
  • Focus on predictive maintenance
  • Adoption of sensorless AC Drives

North America AC Drives Industry News

  • January 2024: Invertek Drives Ltd showcased its Optidrive Eco and Optidrive Coolvert drives at the AHR Expo in Chicago.
  • July 2023: OMRON launched its OMRON M1 Integrated AC Drives Solution, offering improved flexibility and efficiency.

Leading Players in the North America AC Drives Market

North America AC Drives Market Segmentation

  • 1. Voltage
    • 1.1. Low
    • 1.2. Medium
  • 2. Application
    • 2.1. Pump
    • 2.2. Fan
    • 2.3. Conveyor
    • 2.4. Compressor
    • 2.5. Extruder
    • 2.6. Others
  • 3. End-Use
    • 3.1. Oil & Gas
    • 3.2. Power generation
    • 3.3. Mining & metals
    • 3.4. Pulp & paper
    • 3.5. Marine
    • 3.6. Others

North America AC Drives Market Segmentation By Geography

  • 1. North America
    • 1.1. U.S.
    • 1.2. Canada

North America AC Drives Market Regional Share

North America AC Drives Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of 4.3% from 2019-2033
Segmentation
    • By Voltage
      • Low
      • Medium
    • By Application
      • Pump
      • Fan
      • Conveyor
      • Compressor
      • Extruder
      • Others
    • By End-Use
      • Oil & Gas
      • Power generation
      • Mining & metals
      • Pulp & paper
      • Marine
      • Others
  • By Geography
    • North America
      • U.S.
      • Canada

Table of Contents

  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1 Rising investment for development of industrial infrastructure
        • 3.2.2 Regulatory framework for limiting the energy consumption.
        • 3.2.3 Encouraging measures to reduce carbon footprint.
        • 3.2.4 Growing automation industry
      • 3.3. Market Restrains
        • 3.3.1. Significant deployment cost
      • 3.4. Market Trends
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. North America AC Drives Market Analysis, Insights and Forecast, 2019-2031
    • 5.1. Market Analysis, Insights and Forecast - by Voltage
      • 5.1.1. Low
      • 5.1.2. Medium
    • 5.2. Market Analysis, Insights and Forecast - by Application
      • 5.2.1. Pump
      • 5.2.2. Fan
      • 5.2.3. Conveyor
      • 5.2.4. Compressor
      • 5.2.5. Extruder
      • 5.2.6. Others
    • 5.3. Market Analysis, Insights and Forecast - by End-Use
      • 5.3.1. Oil & Gas
      • 5.3.2. Power generation
      • 5.3.3. Mining & metals
      • 5.3.4. Pulp & paper
      • 5.3.5. Marine
      • 5.3.6. Others
    • 5.4. Market Analysis, Insights and Forecast - by Region
      • 5.4.1. North America
  6. 6. Competitive Analysis
    • 6.1. Market Share Analysis 2024
      • 6.2. Company Profiles
        • 6.2.1 ABB
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 Danfoss
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 Delta Electronics Inc.
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 Eaton
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 Emerson Electric Co.
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 Fuji Electric Corp. of America
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 General Electric
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 Invertek Drives Ltd.
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 Nidec Motor Corporation
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 Omron Corporation
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)
        • 6.2.11 PARKER HANNIFIN CORP
          • 6.2.11.1. Overview
          • 6.2.11.2. Products
          • 6.2.11.3. SWOT Analysis
          • 6.2.11.4. Recent Developments
          • 6.2.11.5. Financials (Based on Availability)
        • 6.2.12 Rockwell Automation
          • 6.2.12.1. Overview
          • 6.2.12.2. Products
          • 6.2.12.3. SWOT Analysis
          • 6.2.12.4. Recent Developments
          • 6.2.12.5. Financials (Based on Availability)
        • 6.2.13 Schneider Electric
          • 6.2.13.1. Overview
          • 6.2.13.2. Products
          • 6.2.13.3. SWOT Analysis
          • 6.2.13.4. Recent Developments
          • 6.2.13.5. Financials (Based on Availability)
        • 6.2.14 Siemens
          • 6.2.14.1. Overview
          • 6.2.14.2. Products
          • 6.2.14.3. SWOT Analysis
          • 6.2.14.4. Recent Developments
          • 6.2.14.5. Financials (Based on Availability)
        • 6.2.15 TMEIC
          • 6.2.15.1. Overview
          • 6.2.15.2. Products
          • 6.2.15.3. SWOT Analysis
          • 6.2.15.4. Recent Developments
          • 6.2.15.5. Financials (Based on Availability)
        • 6.2.16 WEG
          • 6.2.16.1. Overview
          • 6.2.16.2. Products
          • 6.2.16.3. SWOT Analysis
          • 6.2.16.4. Recent Developments
          • 6.2.16.5. Financials (Based on Availability)
        • 6.2.17 Yaskawa America Inc.
          • 6.2.17.1. Overview
          • 6.2.17.2. Products
          • 6.2.17.3. SWOT Analysis
          • 6.2.17.4. Recent Developments
          • 6.2.17.5. Financials (Based on Availability)

List of Figures

  1. Figure 1: North America AC Drives Market Revenue Breakdown (Billion, %) by Product 2024 & 2032
  2. Figure 2: North America AC Drives Market Share (%) by Company 2024

List of Tables

  1. Table 1: North America AC Drives Market Revenue Billion Forecast, by Region 2019 & 2032
  2. Table 2: North America AC Drives Market Volume K Tons Forecast, by Region 2019 & 2032
  3. Table 3: North America AC Drives Market Revenue Billion Forecast, by Voltage 2019 & 2032
  4. Table 4: North America AC Drives Market Volume K Tons Forecast, by Voltage 2019 & 2032
  5. Table 5: North America AC Drives Market Revenue Billion Forecast, by Application 2019 & 2032
  6. Table 6: North America AC Drives Market Volume K Tons Forecast, by Application 2019 & 2032
  7. Table 7: North America AC Drives Market Revenue Billion Forecast, by End-Use 2019 & 2032
  8. Table 8: North America AC Drives Market Volume K Tons Forecast, by End-Use 2019 & 2032
  9. Table 9: North America AC Drives Market Revenue Billion Forecast, by Region 2019 & 2032
  10. Table 10: North America AC Drives Market Volume K Tons Forecast, by Region 2019 & 2032
  11. Table 11: North America AC Drives Market Revenue Billion Forecast, by Voltage 2019 & 2032
  12. Table 12: North America AC Drives Market Volume K Tons Forecast, by Voltage 2019 & 2032
  13. Table 13: North America AC Drives Market Revenue Billion Forecast, by Application 2019 & 2032
  14. Table 14: North America AC Drives Market Volume K Tons Forecast, by Application 2019 & 2032
  15. Table 15: North America AC Drives Market Revenue Billion Forecast, by End-Use 2019 & 2032
  16. Table 16: North America AC Drives Market Volume K Tons Forecast, by End-Use 2019 & 2032
  17. Table 17: North America AC Drives Market Revenue Billion Forecast, by Country 2019 & 2032
  18. Table 18: North America AC Drives Market Volume K Tons Forecast, by Country 2019 & 2032
  19. Table 19: U.S. North America AC Drives Market Revenue (Billion) Forecast, by Application 2019 & 2032
  20. Table 20: U.S. North America AC Drives Market Volume (K Tons) Forecast, by Application 2019 & 2032
  21. Table 21: Canada North America AC Drives Market Revenue (Billion) Forecast, by Application 2019 & 2032
  22. Table 22: Canada North America AC Drives Market Volume (K Tons) Forecast, by Application 2019 & 2032

STEP 1 - Identification of Relevant Samples Size from Population Database

Step Chart
bar chart
method chart

STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

approach chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.

Note* : In applicable scenarios

STEP 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
approach chart

STEP 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the North America AC Drives Market?

The projected CAGR is approximately 4.3%.

2. Which companies are prominent players in the North America AC Drives Market?

Key companies in the market include ABB, Danfoss, Delta Electronics, Inc., Eaton, Emerson Electric Co., Fuji Electric Corp. of America, General Electric, Invertek Drives Ltd., Nidec Motor Corporation, Omron Corporation, PARKER HANNIFIN CORP, Rockwell Automation, Schneider Electric, Siemens, TMEIC, WEG, Yaskawa America, Inc..

3. What are the main segments of the North America AC Drives Market?

The market segments include Voltage, Application, End-Use.

4. Can you provide details about the market size?

The market size is estimated to be USD 3.7 Billion as of 2022.

5. What are some drivers contributing to market growth?

Rising investment for development of industrial infrastructure. Regulatory framework for limiting the energy consumption.. Encouraging measures to reduce carbon footprint.. Growing automation industry.

6. What are the notable trends driving market growth?

N/A

7. Are there any restraints impacting market growth?

Significant deployment cost.

8. Can you provide examples of recent developments in the market?

In January 2024, Invertek Drives Ltd showcased the advantages of VFD technology at the AHR Expo organized in Chicago, U.S. The company emphasized its Optidrive Eco and Optidrive Coolvert drives during the event. The Coolvert drive ensures precise control of BLDC and PM Rotary and Scroll compressors, adjusting compressor speed according to evolving system demand. This optimization aids in reducing energy consumption, enhancing system efficiency, and minimizing CO2 emissions.

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3,250, USD 3,750, and USD 5,750 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in Billion and volume, measured in K Tons.

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "North America AC Drives Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the North America AC Drives Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the North America AC Drives Market?

To stay informed about further developments, trends, and reports in the North America AC Drives Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.

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