AC Drives Market projected to reach $52.7 billion by 2033, driven by HVAC systems.

From GlobeNewswire: 2024-08-06 01:14:00

Allied Market Research forecasts the AC Drives Market to reach $52.7 billion by 2033, with a CAGR of 8% from 2024. HVAC systems are a key driver of growth, but maintenance challenges may hinder market expansion. Reversible AC drives are in high demand for their flexibility and efficiency, especially in industrial applications. The medium voltage segment leads in efficiency and reliability, while the Asia-Pacific region dominates market demand. Key players in the market include Bharat Bijlee Limited, Yaskawa, and Danfoss. Strategic moves such as new product launches and collaborations are key to maintaining market share. For more information, visit Allied Market Research’s website.



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