The global electric drives market is fragmented in nature and characterized by the presence of several well-established and small regional players, which make it extremely competitive for new entrants. Apart from top vendors, several regional and local vendors have started manufacturing customized and energy-efficient equipment. The increased competition in the market is driving vendors to focus majorly on increasing the product portfolio by acquiring peer companies and increasing their market share.
The increasing focus on automating manufacturing processes has been instrumental in driving the growth of the market. However, the availability of alternatives might hamper the market growth. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. ABB Ltd., Danfoss AS, Mitsubishi Electric Corp., Nidec Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., WEG Equipamentos Eletricos SA, and Yaskawa Electric Corp. are among some of the major market participants. Download Report Sample Now
The electric drives market is segmented as below:
The AC drives segment will have the largest share of the market. Increasing investments y end-user industries in automation technologies are driving the growth of the segment. In addition, rising investments in food and beverage, the water and wastewater treatment, automotive, and oil and gas industries will have a positive impact on the growth of the segment during the forecast period.
- End User
- Process Industry
- Discrete Industry
The process industry is the prime end-user in the market. The segment includes industries such as oil and gas, food and beverage, water and wastewater treatment, mining, pharmaceutical, power, paper and pulp, cement, and petrochemical and chemicals. The growing need to adopt energy-efficient equipment to meet energy efficiency standards and mandates in these industries is driving the growth of the segment.
- Geography
- APAC
- Europe
- North America
- South America
- MEA
37% of the market growth will originate from APAC during the forecast period. Factors such as rapid industrialization, rising demand for medium voltage and low voltage motors, and increasing investments in power, water and wastewater treatment, and food and beverage industries are creating significant growth opportunities for vendors operating in the region. Also, the improving economy of South Asian countries will have a positive impact on the growth of the regional market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The electric drives market report covers the following areas:
Electric Drives Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist electric drives market growth during the next five years
- Estimation of the electric drives market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the electric drives market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the electric drives market vendors
Related Reports:
Electric Drives Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.31% |
Market growth 2021-2025 |
USD 4.88 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.67 |
Regional analysis |
APAC, Europe, North America, South America, MEA, APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 37% |
Key consumer countries |
China, US, Germany, Japan, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ABB Ltd., Danfoss AS, Mitsubishi Electric Corp., Nidec Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., WEG Equipamentos Eletricos SA, and Yaskawa Electric Corp. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- 2.2 Market characteristics
- Exhibit 02: Market characteristics
- 2.3 Value chain analysis
- Exhibit 03: Value chain analysis: Electrical components and equipment market
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces analysis
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 15: Product - Market share 2020-2025 (%)
- 5.2 Comparison by Product
- Exhibit 16: Comparison by Product
- 5.3 AC drives - Market size and forecast 2020-2025
- Exhibit 17: AC drives - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: AC drives - Year-over-year growth 2020-2025 (%)
- 5.4 DC drives - Market size and forecast 2020-2025
- Exhibit 19: DC drives - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: DC drives - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Product
- Exhibit 21: Market opportunity by Product
6 Market Segmentation by End-user
- 6.1 Market segments
- Exhibit 22: End user - Market share 2020-2025 (%)
- 6.2 Comparison by End-user
- 6.3 Process industry - Market size and forecast 2020-2025
- Exhibit 24: Process industry - Market size and forecast 2020-2025 ($ million)
- Exhibit 25: Process industry - Year-over-year growth 2020-2025 (%)
- 6.4 Discrete industry - Market size and forecast 2020-2025
- Exhibit 26: Discrete industry - Market size and forecast 2020-2025 ($ million)
- Exhibit 27: Discrete industry - Year-over-year growth 2020-2025 (%)
- 6.5 Market opportunity by End-user
- Exhibit 28: Market opportunity by End-user
7 Customer landscape
8 Geographic Landscape
- 8.1 Geographic segmentation
- Exhibit 30: Market share by geography 2020-2025 (%)
- 8.2 Geographic comparison
- Exhibit 31: Geographic comparison
- 8.3 APAC - Market size and forecast 2020-2025
- Exhibit 32: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 33: APAC - Year-over-year growth 2020-2025 (%)
- 8.4 Europe - Market size and forecast 2020-2025
- Exhibit 34: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 35: Europe - Year-over-year growth 2020-2025 (%)
- 8.5 North America - Market size and forecast 2020-2025
- Exhibit 36: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 37: North America - Year-over-year growth 2020-2025 (%)
- 8.6 South America - Market size and forecast 2020-2025
- Exhibit 38: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 39: South America - Year-over-year growth 2020-2025 (%)
- 8.7 MEA - Market size and forecast 2020-2025
- Exhibit 40: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 41: MEA - Year-over-year growth 2020-2025 (%)
- 8.8 Key leading countries
- Exhibit 42: Key leading countries
- 8.9 Market opportunity by geography
- Exhibit 43: Market opportunity by geography ($ million)
9 Drivers, Challenges, and Trends
- 9.2 Market challenges
- Exhibit 44: Impact of drivers and challenges
10 Vendor Landscape
- 10.1 Competitive scenario
- 10.2 Vendor landscape
- Exhibit 45: Vendor landscape
- 10.3 Landscape disruption
- Exhibit 46: Landscape disruption
- 10.4 Industry risks
- Exhibit 47: Industry risks
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 48: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 49: Market positioning of vendors
- 11.3 ABB Ltd.
- Exhibit 50: ABB Ltd. - Overview
- Exhibit 51: ABB Ltd. - Business segments
- Exhibit 52: ABB Ltd. – Key news
- Exhibit 53: ABB Ltd. - Key offerings
- Exhibit 54: ABB Ltd. - Segment focus
- 11.4 Danfoss AS
- Exhibit 55: Danfoss AS - Overview
- Exhibit 56: Danfoss AS - Business segments
- Exhibit 57: Danfoss AS – Key news
- Exhibit 58: Danfoss AS - Key offerings
- Exhibit 59: Danfoss AS - Segment focus
- 11.5 Mitsubishi Electric Corp.
- Exhibit 60: Mitsubishi Electric Corp. - Overview
- Exhibit 61: Mitsubishi Electric Corp. - Business segments
- Exhibit 62: Mitsubishi Electric Corp. – Key news
- Exhibit 63: Mitsubishi Electric Corp. - Key offerings
- Exhibit 64: Mitsubishi Electric Corp. - Segment focus
- 11.6 Nidec Corp.
- Exhibit 65: Nidec Corp. - Overview
- Exhibit 66: Nidec Corp. - Business segments
- Exhibit 67: Nidec Corp. – Key news
- Exhibit 68: Nidec Corp. - Key offerings
- Exhibit 69: Nidec Corp. - Segment focus
- 11.7 Rockwell Automation Inc.
- Exhibit 70: Rockwell Automation Inc. - Overview
- Exhibit 71: Rockwell Automation Inc. - Business segments
- Exhibit 72: Rockwell Automation Inc. – Key news
- Exhibit 73: Rockwell Automation Inc. - Key offerings
- Exhibit 74: Rockwell Automation Inc. - Segment focus
- 11.8 Schneider Electric SE
- Exhibit 75: Schneider Electric SE - Overview
- Exhibit 76: Schneider Electric SE - Business segments
- Exhibit 77: Schneider Electric SE – Key news
- Exhibit 78: Schneider Electric SE - Key offerings
- Exhibit 79: Schneider Electric SE - Segment focus
- 11.9 Siemens AG
- Exhibit 80: Siemens AG - Overview
- Exhibit 81: Siemens AG - Business segments
- Exhibit 82: Siemens AG – Key news
- Exhibit 83: Siemens AG - Key offerings
- Exhibit 84: Siemens AG - Segment focus
- 11.10 Toshiba Corp.
- Exhibit 85: Toshiba Corp. - Overview
- Exhibit 86: Toshiba Corp. - Business segments
- Exhibit 87: Toshiba Corp. – Key news
- Exhibit 88: Toshiba Corp. - Key offerings
- Exhibit 89: Toshiba Corp. - Segment focus
- 11.11 WEG Equipamentos Eletricos SA
- Exhibit 90: WEG Equipamentos Eletricos SA - Overview
- Exhibit 91: WEG Equipamentos Eletricos SA - Business segments
- Exhibit 92: WEG Equipamentos Eletricos SA – Key news
- Exhibit 93: WEG Equipamentos Eletricos SA - Key offerings
- Exhibit 94: WEG Equipamentos Eletricos SA - Segment focus
- 11.12 Yaskawa Electric Corp.
- Exhibit 95: Yaskawa Electric Corp. - Overview
- Exhibit 96: Yaskawa Electric Corp. - Business segments
- Exhibit 97: Yaskawa Electric Corp. – Key news
- Exhibit 98: Yaskawa Electric Corp. - Key offerings
- Exhibit 99: Yaskawa Electric Corp. - Segment focus
12 Appendix
- 12.2 Currency conversion rates for US$
- Exhibit 100: Currency conversion rates for US$
- 12.3 Research methodology
- Exhibit 101: Research Methodology
- Exhibit 102: Validation techniques employed for market sizing
- Exhibit 103: Information sources
- 12.4 List of abbreviations
- Exhibit 104: List of abbreviations
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