“The advancement and rapid growth in automation and adoption of energy-efficient international standards drive the integrated drive systems market”
The integrated drive systems market, in terms of value, is expected to grow from USD 23.89 billion in 2015 to USD 38.27 billion by 2022, at a CAGR of 6.80% between 2016 and 2022. The demand for industrial automation would continue to grow owing to the increased requirements of high product quality, paired with expectations of equally high reliability in high-volume production. Integrated drive systems are the key elements of the automation industry and provide high accuracy and efficiency with low maintenance cost which is a strong requirement of automated machines. Lack of skilled workforce and trained workers and lack of standardization of equipment are the major restraints for the market.
“Automotive and transportation industry was the largest market for drive systems in 2015”
With a high demand for motors worldwide, the automotive industry has been witnessing rapid changes in terms of manufacturing technology to enhance automotive production and manufacturing facilities. There is a high demand for integrated drive systems across the globe as they help enhance the efficiency of production and manufacturing facilities in the automotive industry. The various applications where drive systems are used in the automotive and transportation industry are pumps, fans, compressors, axial winders, conveyors, extruders, and rack feeders.
“Integrated drive systems market in APAC expected to grow at the highest rate between 2016 and 2022”
The integrated drive systems market in APAC is expected to grow at the highest rate during the forecast period. The reason for this growth is increasing industrial activity along with the high demand for faster and accurate drive systems to achieve higher production output. The increasing demand for energy-efficient production processes coupled with the need for software systems is fostering the growth of the integrated drive systems market.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key experts.
The breakup of the profiles of primary participants is given below:
- By Company Type: Tier 1.55 %, Tier 2.20%, and Tier 3.25%
- By Designation: C-Level Executives 75% and Managers 25%
- By Geography: APAC 40%, Europe30%, North America 20%, and RoW 10%
Companies that provide a range of customized solutions are expected to emerge as the game changers as customers find it easier to sync up with such devices for use in a specific industry.
The key players in the drive systems market profiled in the report are as follows:
1. Siemens AG (Germany)
2. Schneider Electric (France)
3. Rockwell Automation, Inc. (U.S.)
4. ABB Ltd. (U.S.)
5. Emerson Electric Co. (U.S.)
6. Bosch Rexroth AG (Germany)
7. Yaskawa Electric Corporation (Japan)
8. Mitsubishi Electric Corporation (Japan)
9. TQ Group GmbH (Germany)
10. Integrated Drive Systems (U.S.)
This report covers the drive systems market based on offering, communication protocol, industry, and geography. A detailed analysis of the key industry players has been done to provide insights into their business, products and services, and key strategies such as new product launches, mergers and acquisitions, partnerships, agreements, and collaborations associated with the integrated drive systems market.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in the following ways:
- This report segments the overall market comprehensively and provides the closest approximations of the global market size and that of the subsegments across different verticals and regions.
- The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions in the integrated drive systems market.