ÌÇÐÄvlog´«Ã½

Direct Current (DC) Electric Drives Market Analysis

The Global Direct Current Electric Drives Market is expected to grow by registering a CAGR of 5.1% during the forecast period (2022-2027). As DC electric drives are primarily in electric traction applications, expanding the industrial and manufacturing sectors are expected to boost their demand.

• Direct Current electric drive is a speed control system for a DC motor that supplies the required voltage to help it operate at the desired speed. These drives also help to reduce operational costs and achieve energy efficiency by regulating the speed of the motor and thereby its power consumption.
• Owing to rapid urbanization, the electricity demand has been increasing. The rising electricity costs have also raised the need for energy-efficient systems and equipment. For instance, according to IEA, global energy intensity - a key measure of the economy's energy efficiency - was forecasted to improve by 1.9% in 2021 after improving by only 0.5% in 2020. Such trends are expected to support the growth of the studied market.
• According to Eurostat, in January 2022, industrial production in the EU increased by 0.4% compared to the month before. Additionally, the total production level was 2.5% above February 2020. The increasing adoption of automation and modernization of production facilities is expected to drive the demand for DC drives as they are used for variable torque applications.
• However, the increasing popularity of AC drives across various types of motion control applications owing to several benefits such as lower operating cost and their ability to change speed more rapidly are expected to challenge the growth of the studied market during the forecast period.
• As DC electric drives are used mostly across industries such as oil & gas, manufacturing, metal & mining, etc., the outbreak of COVID-19 had a notable impact on the studied market, as activities across this sector were significantly reduced due to various restrictions imposed by the governments to curb the spread of the virus.

Direct Current (DC) Electric Drives Industry Segmentation

A Direct Current (DC) drive is the functional circuitry that can be employed to precisely control a DC motor the drive operation allows the application of varying input levels so that the motor runs efficiently at different speeds. These drives are designed to handle applications such as mining/drilling, cranes, winders/coils, etc. The research report contains thoughtful insights, historical data, facts, historical data, and statistically supported market data.