APAC Low Voltage Drives Market to Hit USD 12 Billion by

Selbyville, Delaware, Oct. 11, 2022 (GLOBE NEWSWIRE) —

The APAC low voltage drives market is expected to record a valuation of USD 12 billion by 2030, according to a new research report by Global Market Insights Inc.

Rapid urbanization has increased investments in commercial buildings. Private and public investors are financing the development of smart infrastructure, to improve the reliability and efficiency of the electricity supply. The power generators used in smart grids are integrated with voltage drives to ensure that the right voltage level is maintained. The growing deregulation of the energy sector, the rise of microgrids, and distributed energy are among the key factors fostering the deployment of power electronic components such as low voltage drives.

APAC low voltage drives market from the 22 kW – < 75 kW capacity segment accounted for USD 720 million in 2021. The combination of humidity and high temperatures increases the importance of air conditioning across the region. With growing urbanization, the cooling requirements of ASEAN countries is increasing at a steady pace. Air conditioning accounts for a major proportion of the household energy usage in ASEAN. Components such as 22 kW – < 75 kW capacity voltage drives are thus crucial in optimizing the operations of HVAC units.

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The Asia Pacific low voltage drives market from AC drive segment is estimated to attain more than 5% growth rate till 2030. AC drives enable motors in various electrical components to operate at accurate speeds by varying the motor speed according to the application. This results in substantial energy savings, in turn reducing plant operating costs and overall motor maintenance costs. Consequently, the adoption of energy-efficient circuit components like AC drives in heavy-duty machinery will increase. 

The standard technology segment in APAC low voltage drives…