According to the report by Expert Market Research (EMR), the India AC drives market size is projected to grow at a CAGR of 8.93% between 2024 and 2032. Aided by the increasing demand for energy-efficient solutions and rapid industrialisation, the market is expected to grow significantly by 2032.
AC drives, also known as variable frequency drives (VFDs), are used to control the speed and torque of electric motors. They are integral in various industries, including manufacturing, energy, and infrastructure, for their role in enhancing process control, reducing energy consumption, and increasing operational efficiency.
The India AC drives market growth is primarily driven by the country’s expanding industrial sector. The government’s initiatives to boost manufacturing through programs like ‘Make in India’ have led to increased investment in industrial automation, subsequently propelling the demand for AC drives.
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Energy efficiency is another critical factor fuelling market growth. With rising energy costs and growing environmental concerns, industries are increasingly adopting AC drives to optimise energy usage in motor-driven applications. These drives significantly reduce energy consumption, contributing to cost savings and sustainability efforts.
Furthermore, the expansion of renewable energy, particularly in wind and solar power, has created new opportunities for AC drives. They are essential in optimising the performance of renewable energy systems, thus supporting India’s commitment to sustainable energy sources.
Technological innovation remains a key driver of the India AC drives market demand. Advances in power electronics, control systems, and IoT integration have led to the development of smarter, more efficient, and user-friendly drives. These advancements enhance system performance and enable remote monitoring and diagnostics, adding significant value to industrial operations.
The market is also witnessing a trend towards compact and modular AC drives, catering to the need for space-saving solutions in various applications. Additionally, the integration of artificial intelligence (AI) and machine learning for predictive maintenance and optimised performance is becoming increasingly prevalent.
The India AC drives market growth is particularly notable in industrial regions like Gujarat, Maharashtra, and Tamil Nadu, where there is a concentration of manufacturing and infrastructure development. The northern region, with its growing focus on infrastructure and renewable energy, is also emerging as a significant market for AC drives.
India AC Drives Market Segmentation
The market can be divided based on product type, power rating, application, end use, and region.
Market Breakup by Product Type
- Low Voltage Drives
- Medium Voltage Drives
- Soft Starter
Market Breakup by Power Rating
- Low Power Drives
- Medium Power Drives
- High Power Drives
Market Breakup by Application
- Compressor
- Conveyors
- Fans
- Extruders
- Pumps
- Others
Market Breakup by End Use
- Transportation and Infrastructure
- Metal Processing
- Chemical
- Solar System
- Power
- Oil and Gas
- Others
Market Breakup by Region
- North India
- East India
- South India
- West India
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Competitive Landscape of India AC Drives Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India AC drives market. Some of the major players explored in the report by Expert Market Research are as follows:
- ABB India Ltd
- Siemens Limited
- Danfoss A/S
- Hitachi Hi-Rel Power Electronics Private Limited
- Yaskawa India Private Limited
- Rockwell Automation Inc.
- Schneider Electric SE
- Kirloskar Electric Company Ltd.
- Amtech Electronics India Limited
- Delta Electronics, Inc.
- CG Power & Industrial Solutions Ltd.
- Fuji Electric India Pvt Ltd
- Shenzhen INVT Electric Co Ltd
- Inovance Technology Pvt, Ltd
- Mitsubishi Electric India Pvt. Ltd.
- Others
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