As the global economy recovers in 2021 and the supply of the industrial chain improves, the electric drives market will undergo major changes. The global electric drives market is expected to register a CAGR of 4.5% over the forecast period (2022-2027). The increasing emphasis on industrial automation and the advent of the internet of things (IoT) is expected to drive the demand for electric drives in the forecast period.
The global electric 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 electric drives market during the next few years. The global electric drives market size will reach USD million in 2028, growing at a CAGR of % during the analysis period.
The electric drives market can be split based on product types, major applications, and important regions as follows:
Fuji Electric Co. Ltd.
Oil & Gas
Chemical & Petrochemical
Food & Beverage
Water & Wastewater
Metal & Mining
Pulp & Paper
Other End-user Industries