PUNE, India, October 20, 2015 /PRNewswire/ --
The report "DC Drives Market by Voltage (Low and Medium Voltage), by Power Rating (Low, Medium, and High Power), by End-Use Industry (Oil & Gas, Water & Wastewater, Power Generation, Building Automation, and Others), and by Region - Global trends and forecast to 2020", published by MarketsandMarkets, The global DC Drives Market will grow from an estimated value of USD 2.1 Billion in 2015 to around USD 2.3 Billion by 2020 with a CAGR of 2.5% from 2015 to 2020.
Browse 74 market data Tables and 50 Figures spread through 140 Pages and in-depth TOC on "DC Drives Market"
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The market study on DC drives defines and segments the market with regional forecast and segment revenue estimates till 2020.
Top market players from the industry have been studied in order to track developments, technologies, and other key business strategies that define the market environment. A DC drive is an electrical device used to regulate the speed of a DC motor by controlling the input voltage and/or amperage to the DC motor. It also rectifies the AC power input into DC feed for the motors. Its primary advantages are increased energy savings and reduced motor wear. The global DC Drives Market will grow from an estimated value of USD 2.1 Billion in 2015 to around USD 2.3 Billion by 2020 with a CAGR of 2.5% from 2015 to 2020.
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Rising electricity prices, along with increased demand for electricity and energy, is currently driving the DC Drives Market. In addition, high potential of DC drives to reduce energy consumption and enhance efficiency of the system provides a huge opportunity for retrofit applications in the manufacturing industry. DC drives also help prolong the service life of the motor system further reducing the associated operational costs.
The global DC Drives Market has been analyzed based on end-use industry, voltage, application, power rating, and region. The report covers the key regions of North America, Asia-Pacific, Europe, South America, and the Middle-East & Africa.
Asia-Pacific: The largest market for DC Drives
The Asia-Pacific region holds the largest market for DC Drives, driven by rapidly growing urbanization and industrialization in this region. Rising need for electricity has compelled implementation of energy-efficient systems, thereby boosting the market for DC.
Oil & gas industry: Largest Market by industry
Oil & gas is the largest user of DC drives among all industries. DC drives are mostly used to control the speed of pumps and compressors used in the oil & gas industry. The oil & gas market was valued USD 286.1 Billion in 2014, and is expected to reach USD 306.7 Billion by 2020. The other industries covered in this segment is water & wastewater, power generation, building automation, food & beverages, metals &mining, chemical & petrochemicals and others.
The DC Drives Market report offers a detailed analysis of key companies and a competitive analysis of developments recorded in the industry in the past four years. Market drivers, restraints, opportunities, and challenges have been discussed in detail. Leading players in the market, such as ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Rockwell Automation (U.S.), and Mitsubishi Electric (Japan) have been profiled in this report.
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