North America Alternating Current (AC) Drive Market Size (2024 - 2029)

North America Alternating Current (AC) Drive Market Analysis

The North American Alternating Current (AC) Drive Market is expected to register a CAGR of 6.9% over the forecast period of 2022 to 2027. North America has already taken a step to ensure maximum usage of renewable energy by 2050. Several investments in AC drives are expected to grow across many industries as these solutions simultaneously save energy and raise machinery productivity by providing better and more precise speed control.

Globalization is driving the use of advanced automation and energy-saving equipment worldwide. The usage will directly result in increased use of AC drives, widely employed across the process, discrete, and infrastructure industries such as building automation, chemicals, oil & gas, food & beverage, textiles, utilities, water & wastewater, and metals in North America.

• AC drives help to protect belts and other mechanical equipment by offering smooth and accurate motor speed and torque control, prolonging conveyor life while lowering operational and maintenance costs. AC drives provide efficient operation of the equipment by offering smooth and precise control of motor speed, allowing adjustment of the rate to suit the needs of the process. The drives can also be connected to the plant's automation system to monitor the load.
• Moreover, the AC drive market in North America relies on local manufacturing capabilities to lessen reliance on other countries for raw materials and many other components. Manufacturers are embracing contingency planning to react to shifting consumer patterns and unpredictable demand now that coronavirus infection rates are dropping in several nations. Mergers and acquisitions (M&A) are being used by businesses to add value to their products.
• Also, AC drives offer highly efficient speed and & torque controls for common purposes, little maintenance, and are compact size. A significant rate of industrialization and urbanization across the globe has led to a rise in electricity consumption. These trends will boost the demand for low voltage AC drives in North America.
• However, AC drives have the application primarily in industrial machinery. The COVID-19 outbreak has significantly hampered the demand for AC drives. Many manufacturers of these products have completely shut their plants owing to lockdowns imposed by governments to curb the spread of the pandemic.

North America Alternating Current (AC) Drive Industry Segmentation

Alternating current drive (AC drive) is an electronic device that regulates the speed of an electric motor by varying the frequency, magnetic flux, and voltage in a motor circuit. In energy-intensive industries, optimal energy usage and efficient energy consumption are critical for controlling overall operating costs. By monitoring the speed and torque of electric motors, these drives can optimize energy usage while also aiding in the reduction of operational costs.

The North American Alternating Current (AC) Drive Market is Segmented by Voltage (Low and Medium), By End-User Industry (Oil & Gas, Chemical & Petrochemical, Food & Beverage, Water & Wastewater, Power Generation, Metal & Mining, Pulp & Paper, HVAC, and Discrete Industries) and by Country. The rising emphasis on industry 4.0 is driving the market for AC Drives in North America. Industrial automation in the region propels the manufacturing industry toward more efficient goods, which is expected to grow substantially during the projection period.