Global Direct Current Electric Drives Market Size, Share, Trends, & Growth Forecast Report – Segmented By Voltage Rating (Up to 240 V, 240-600 V, 600V & Above), Power Rating (Up to 250 KW, 251 - 500 KW, 500 KW & Above), End-User (Oil & Gas, Power Generation, Chemical & Petrochemical, Water & Wastewater, Metal & Mining, Food & Beverage, Discrete Industries and Others) & Region - Industry Forecast From 2024 to 2032

Updated On: June, 2024
ID: 13945
Pages: 150

Global Direct Current Electric Drives Market Size (2024 to 2032)

The global direct current electric drives market size is expected to be worth USD 6.57 billion by 2032 from USD 4.69 billion in 2024, registering a CAGR of 4.3% during the foreseen period.

The direct current electric drives market is anticipated to reach USD 4.69 billion globally by 2024

Electric drives are electrical power systems designed to control the motion of machines. It specifically controls the electrical energy into mechanical power using certain parameters. Based on supply, electric drivers have DC motor drives and AC motor drives. The DC drive acts as a control system that converts the input AC supply to DC using a converter circuit in the DC motor. This is further classified into analog DC drives and digital DC drives. Direct current electric drives are used in the oil & gas industry, metal, machinery, food & beverage industries in controlling feed pump motors, extruders, pumps, fans, conveyors, milling machines, and in packaging equipment.

MARKET DRIVERS

An increase in manufacturing and processing industry operations is primarily driving the growth of the global direct current electric drives market.

The rapidly growing population and ever-growing urbanization have propelled the operations in oil & gas, chemical &petrochemical, and food processing industries. Further, an increase in DC motor applications in production and operation facilities is driving the direct current electric drives market. Moreover, technical aspects such as high horsepower rating, single power conversion from AC to DC, and its availability for continuous regeneration for overhauling loads are fueling the market growth.

The growing need for the adoption of automation of production facilities is providing a lucrative opportunity to direct the current electric drives market during the forecast period. Further, the increase in torque applications in the oil and gas industry and heavy metal industry is providing a huge opportunity to the market. Moreover, technological advancements and rising consciousness in adopting energy-efficient systems such as direct current over AC would boost the market growth.

MARKET RESTRAINTS

The growing popularity of AC drivers owing to less operational cost and their ability to change the speed rapidly are significantly hampering the direct current electric drives market demand. Another major problem is high power breakout results in the failure of the whole system operations. Further technical problems like DC voltage cannot be stepped up or stepped down directly, and reduction in power supply limits the direct current electric drives market.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2032

Base Year

2023

Forecast Period

2024 to 2032

CAGR

4.3%

Segments Covered

By Voltage Rating, Power Rating, End - User and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

ABB Ltd, Crompton Greaves Limited, Danfoss Group, Emerson Electric, Ge Power Conversion, Hitachi, Mitsubishi Electric Corporation, Nidec Motor Corporation, Parker Hannifin, Renown Electric Motors and Others.


SEGMENTAL ANALYSIS

Global Direct Current Electric Drives Market Analysis By Voltage Rating

The up to 240 V segment is recording the largest market revenue in the direct current electric drives market during the forecast period. They are broadly used in pumps, fans, conveyors, spindles, boring machines, extruder screws, and other applications. Further, the increase in applications in industries such as oil and gas, metal, and processing industries is driving market growth in the period. Following growth is observed in the 240 - 600 V segment owing to wide adoption in commercial lifts, miniature lathes, packaging, and material handling equipment. These factors are driving the market growth in the period.

Global Direct Current Electric Drives Market Analysis By Power Rating

The up to 250 KW segment is anticipated to record the largest market share in the direct current electric drives market during the forecast period. An increase in the usage of direct current electric drives in a number of small-scale and medium-scale industries is driving market growth. DC electric drivers are used in pumps, fans, conveyors, milling machines, small shop machine tools, and cooking equipment of small-scale industries. Hence, the wide application of up to 250 KW has propelled the market expansion. Following major growth in market share is occupied by the 251-500 KW segment owing to a rise in applications in medium and large-scale industries during the forecast period.  

Global Direct Current Electric Drives Market Analysis By End-User

The oil and gas industry holds the largest share of the market and is anticipated to sustain its market share during the forecast period. Direct current electric drives have the capacity to control the flow by adjusting speed; it helps in avoiding energy wastage in throttling values. The DC electric drivers are used in boiler feed pumps, service water pumps, induced draft fans, gas compressors, and oil pumps. These applications in the oil and gas industry are driving the market growth in the period. Even a healthy CAGR growth is observed in the food and beverage, chemical & petrochemical industries. It is widely used in processing and conveying, packing and storage, centrifugal pumps, compressors, extruders, agitators, decanters, and mixer equipment. This wide application of direct current electric drives market in the end-user industry is driving the market.

REGIONAL ANALYSIS

The Asia-Pacific region is observed to record the largest market revenue during the forecast period. Developing countries such as China, Taiwan, and India have growing industrial and manufacturing sectors in the region. Further government and foreign investments for industrialization in developing countries are driving market growth. Moreover, an increase in the usage of direct current electric drives in small-scale and medium-scale industries has bolstered market growth in the region.

KEY MARKET PLAYERS

Companies playing a major role in the global direct current electric drives market include ABB Ltd., Crompton Greaves Limited, Danfoss Group, Emerson Electric Co., Ge Power Conversion, Hitachi, Mitsubishi Electric Corporation, Nidec Motor Corporation, Parker Hannifin Co., Renown Electric Motors, Rockwell Automation, Schneider Electric SE, Siemens AG and Toshiba International Corporation Ltd.

RECENT HAPPENINGS IN THE MARKET

  • In 2023, GE Power Conversion commissioned shore power system converters for ships at the Port of Brest. This power system enables paralleling capability that can flex the power-sharing ability wherever it is needed.
  • In 2023, Nidec Motor Corporation announced the opening ceremony for its new factories in Serbia. They will mass-produce automotive motors, automotive inverters, and ECUs to cater to demand in European countries abiding by low carbon emission regulations.

DETAILED SEGMENTATION OF THE GLOBAL DIRECT CURRENT ELECTRIC DRIVES MARKET INCLUDED IN THIS REPORT

This research report on the global direct current electric drives market has been segmented and sub-segmented based on voltage rating, power rating, end-user and region.

By Voltage Rating

  • Up to 240 V
  • 240-600 V
  • 600V & Above

By Power Rating

  • Up to 250 KW
  • 251 - 500 KW
  • 500 KW & Above

By End-User

  • Oil & Gas
  • Power Generation
  • Chemical & Petrochemical
  • Water & Wastewater
  • Metal & Mining
  • Food & Beverage
  • Discrete Industries
  • Others

By Region

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • The Middle East and Africa

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Frequently Asked Questions

What are the key factors driving the growth of the DC Electric Drives Market globally?

The growth of the DC Electric Drives Market is driven by factors such as increasing industrial automation, rising demand for energy-efficient solutions, advancements in DC motor technology, and the expanding use of DC drives in renewable energy applications and electric vehicles.

What are the primary applications of DC Electric Drives?

DC Electric Drives are commonly used in various applications, including industrial automation, robotics, automotive systems, consumer electronics, and HVAC systems. They are particularly valued for their precise control and reliability in these areas.

How is the market for DC Electric Drives expected to evolve in the next decade?

The DC Electric Drives Market is expected to grow significantly over the next decade due to continued advancements in technology, increased industrial automation, and a growing emphasis on energy efficiency. Innovations in drive technology and expanding applications in emerging sectors will likely drive this growth.

What are the recent technological advancements in DC Electric Drives?

Recent advancements include the development of more efficient and compact DC motors, improved control systems with advanced algorithms, and integration with IoT for better monitoring and management. These innovations enhance the performance, reliability, and versatility of DC Electric Drives.

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