Dublin, Oct. 11, 2023 (GLOBE NEWSWIRE) — The “AC Drives: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering. The global AC drive market is expected to reach US$21.6 billion by 2022, with a revised size expected to reach US$32.3 billion by 2030, growing at a compound annual growth rate of 5.2% during the 2022-2022 analysis period. 2030
Low, one of the segments analyzed in the report, is expected to grow at a CAGR of 5.6% to reach $22.7 billion by the end of the analysis period. Taking into account the ongoing recovery from the pandemic, the mid-market segment will grow at a CAGR of 4.2% over the next eight years. The US market is expected to be worth US$5.9 billion, while China is expected to grow at a compound annual growth rate of 8.7%. By 2022, the US AC drive market will reach US$5.9 billion. As the world’s second largest economy, China is expected to reach a market size of US$7.1 billion by 2030, with a CAGR of 8.7% during the analysis period from 2022 to 2030.
Other noteworthy geographic markets include Japan and Canada, which are expected to grow at 2.6% and 4.2%, respectively, between 2022 and 2030. In Europe, Germany is expected to grow at an average annual growth rate of approximately 3.4%. Select a participant (33 choices in total) -
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Post time: Nov-23-2023