October 11, 2021
According to the report titled ‘Middle East & Africa Low Voltage Drives Market Size, By Power Range (Micro Drives, Low Drives), By Capacity (< 2.2 kW, 2.2 kW - 7.4 kW, 7.5 kW - 22 kW, 23 kW - 75 kW, 76 kW - 110 kW, 111 kW - 500 kW, > 500 kW), By Drive (AC, DC, Servo), By Technology (Standard Drives, Regenerative Drives), By System (Open Loop, Closed Loop), By Application (Pump, Fan, Conveyer, Compressor, Extruder), By End-Use (Oil & Gas, Power Generation, Food Processing, Automotive, Mining & Metals, Pulp & Paper, Textile, Marine), Industry Analysis Report, Country Outlook, Growth Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, Middle East & Africa low voltage drives market is expected to witness significant growth during 2021-2027.
Report findings suggest that Middle East & Africa low voltage drives industry growth is backed by increasing product usage in both high- and low-power applications in the region. Furthermore, changing consumer preference for low voltage drives, owing to their smaller size, lower cost, and greater availability, is projected to spur market growth over the forecast period.
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Based on power range, the market is split into low drives, and micro drives. By the end of 2027, micro drives segment is expected to have grown at a considerable pace, owing to paradigm shift towards adoption of energy-efficient systems.
By capacity, the market is segregated into the following types: < 2.2 kW, 2.2 kW - 7.4 kW, 7.5 kW - 22 kW, 23 kW - 75 kW, 76 kW - 110 kW, 111 kW - 500 kW, > 500 kW.
Speaking of drive type, Middle East & Africa low voltage drives business arena is divided into three categories: DC, AC, and servo. Among these, the DC segment is anticipated to grow with CAGR through 2027, on account of growing energy demand across the developing economies.
The market is segmented based on application into fan, pump, compressor, conveyor, and extruder. By the end of forecast period, the fan segment is estimated to generate significant revenues, accredited to increased deployment of net metering devices, and preference for modern electrical equipment.
Going by country-wise bifurcation, Saudi Arabia held a substantial market share in the recent past and it is anticipated to showcase similar growth trends between 2021 and 2027. Extensive adoption of alternative energy sources, alongside availability of large-scale power infrastructure are positively swaying the industry dynamics in Saudi Arabia.
Prominent companies profiled in Middle East & Africa low voltage drives market report are ABB Ltd., Rockwell Automation Inc., Mitsubishi Electric Corporation, Fuji Electric Co. Ltd., Nidec Corporation, Siemens AG, Beckhoff Automation, Bosch Rexroth AG, Hitachi Ltd., Schneider Electric SE, Danfoss, Yaskawa Electric Corporation, and WEG among others.