Supply chain problems, semiconductor shortages and the war in Ukraine continue to affect global markets.
January 23, 2023 — Strong sales in Asia Pacific will drive the low voltage AC drive market to around $14.2 billion by 2022, according to a new report. This growth is largely driven by modernization opportunities and strengthening of energy efficiency legislation in the region. Backorders caused by the COVID-19 pandemic spurred the industry on last year, while most actuator manufacturers also reported price increases in 2022, according to research from Interact Analysis. However, order volumes did not translate into higher sales volumes in all cases, as supply chain issues impacted the ability of some suppliers to fulfill orders. The 2022 Low Voltage AC Motor Drive Market Report shows that the price of low voltage AC motor drivers will increase from the second half of 2021 and continue until 2022, although the global average selling price (ASP) to maintain a smooth transition to a lower power drives. The increase in average selling prices was mainly in the Americas (6.4%) and EMEA (3.3%), while prices fell slightly in the Asia-Pacific region (-0.5%). Meanwhile, despite extended shutdowns due to the COVID-19 outbreak in China, unit sales remained flat on top of revenue growth, the largest backlog driven stimulus market, and a solid 4.4% increase in output. . Sales in Japan will also grow by 4.2% in 2022. However, growth was more modest in the Americas (1.8%), with EMEA volumes falling despite strong demand as supply chain issues and the impact of the war in Ukraine, especially energy costs, impacted on the volume of production and volume of transportation. In 2022, the global semiconductor shortage continues to put pressure on the low voltage driver market, impacting sales and pushing power module prices to “amazing” levels while components are fully available. Some suppliers were forced to go to the gray market, and the price of some semi-finished products soared from 2-3 to 40-50 dollars per unit. This has led to severe price volatility and the problem is likely to continue as power supplies remain hard to come by despite weakening microcontroller supplies. Looking ahead to 2027, the Americas region is projected to have a CAGR of 2.8% over the forecast period, but growth will slow as prices slow and the trend towards decentralized storage solutions accelerates. Growth in Asia Pacific and Asia Pacific is expected to slow significantly in 2023 as backlogs dry up, but ASP growth due to demand for high-end features is likely to accelerate in 2023 and 2024 ., resulting in a CAGR of 4.0% revenue through 2027. EMEA will reach 2.2% CAGR, with growth in 2023 driven primarily by rising prices. Single shipments are expected to fall 4.1% this year due to the ongoing European energy crisis and a decline in backlogs. Total sales are expected to grow steadily over the forecast period from 2022 to 2027, with Asia Pacific remaining the largest market for low voltage AC drives. Brianna Jackson, Research Analyst at Interact Analysis, commented: “We forecast global median selling prices to rise in 2023, with EMEA expected to see growth of 7.3%, as well as a slight increase (0. 4%) due to the impact of the war in Ukraine. . Prices in the Asia-Pacific region have increased due to the growing demand for hard drives with advanced features.” Circuit problems and semiconductor shortages Ongoing, it is expected that price stabilization in some areas will take some time. At the same time, our drive supply estimates have been revised down to reflect more realistic drive-to-motor connectivity and significant product mix changes. “
This is the fifth edition of the respected Interact Analysis market report providing insights and analysis into the low voltage AC drive market. In this report, we provide detailed market size and forecast data for Low Voltage AC Motors by form factor, industry, application, country, and power rating. In addition to this analysis, we also performed a market share analysis for any supplier with a market share greater than 1%.
With over 200 years of experience, Interact Analysis is the authority on market analysis for global supply chain automation. Our research spans the entire automation value chain, from factory automation technology through inventory and distribution channels to finished product transportation. Leading global companies trust us to provide valuable ideas and opportunities for technology-led growth.
Post time: Aug-07-2023