As the global economy recovers in 2021 and the supply of the industrial chain improves, the Low Voltage Drives market will undergo major changes. The Global Low Voltage Drives market is anticipated to register a CAGR of 4.3% between 2022 and 2027. A greater focus on energy efficiency and more infrastructure spending will drive the industry's scenario. Continuous technical advancements will make LV drives more acceptable in a wider range of applications, such as battery-powered motion control devices that enable speedy problem diagnostics and effective operation at various loads and speeds.
The global Low Voltage Drives industry report provides top-notch qualitative and quantitative information including: Market size (2017-2021 value and 2022 forecast). The report also contains descriptions of key players, including key financial indicators and market competitive pressure analysis.
The report also assesses key opportunities in the market and outlines the factors that are and will drive the growth of the industry. Taking into account previous growth patterns, growth drivers, and current and future trends, we also forecast the overall growth of the global Low Voltage Drives market during the next few years. The global Low Voltage Drives market size will reach USD million in 2028, growing at a CAGR of % during the analysis period.
The Low Voltage Drives market can be split based on product types, major applications, and important regions as follows:
Oil & Gas
Chemical & Petrochemical
Water & Wastewater
Metal & Mining
Pulp & Paper
Other End-user Industries