Direct Current Electric Drives Market Size (2024 –2030)

The Global Direct Current Electric Drives Market was estimated to be worth USD 5.15 billion in 2023 and is projected to reach a value of USD 7.29 billion by 2030, growing at a CAGR of 5.09% during the forecast period 2024-2030.

Electrical power systems, sometimes referred to as electric drives, aid in controlling the motion of machinery. They function by applying certain settings to transform electrical energy into mechanical power. Depending on the power source being utilized, there are two primary types: DC motor drives and AC motor drives. DC drives convert the input AC power source to DC power using a converter circuit. Analog and digital DC drives are two more categories into which they can be separated. These drives are used to operate feed pumps, extruders, fans, conveyors, milling machines, and packing equipment in a variety of industries, including manufacturing, oil and gas, food and beverage, and metalworking.

Key Market Insights:

Brushed DC motor drives account for around 40% of the DC electric drives market share, owing to their simplicity, reliability, and cost-effectiveness for various applications.

The industrial automation segment constitutes approximately 30% of the demand for DC electric drives, driven by their widespread use in machinery, robotics, and material handling equipment.

In terms of region, Asia-Pacific holds the largest market share of around 30% for DC electric drives, attributed to the growing industrialization and the increasing adoption of automation technologies in the region.

The demand for high-performance DC electric drives, such as brushless DC (BLDC) motor drives, is growing at a rate of approximately 10% annually, driven by their superior efficiency, better speed control, and low maintenance requirements.

Global Direct Current Electric Drives Market Drivers:

The expansion of manufacturing and processing activities is driving up the market.

Growing urbanization and population numbers are driving up demand in sectors such as food processing, chemical and petrochemical, and oil and gas. The increasing use of DC motors in manufacturing and operational facilities is driving up demand for direct current electric drives. The market is expanding due to technological advancements like single AC to DC power conversion and high horsepower ratings. Market expansion is also being fueled by investments in the manufacturing and processing sectors. The market for DC electric drives is anticipated to expand quickly during the forecast period as long as these industries keep making growth-related investments.

The DC drivers for demand are rising auto production, operational benefits, and affordability.

DC drives are simpler than inverter drives because they only need to convert power once from AC to DC. This also allows them to be more affordable and smaller. They are also perfect for applications like DC regenerative drives that need constant regeneration to overhaul loads. These advantages, along with the fact that DC drives are more cost-effective and offer a number of technological advantages over AC drives, will propel the market's growth during the forecast period. The market will grow even more as a result of the growing demand for industrial automation and the expansion of torque applications in sectors like heavy metal and oil and gas. The market will also grow as a result of technological developments and increased public awareness of the advantages of energy-efficient systems like direct current.

Direct Current Electric Drives Market Challenges and Restraints:

The growing preference for AC drivers, which have lower operating costs and faster speed changes, is posing a challenge to the demand for direct current electric drives. High power breakout is a serious problem that can bring down the entire system. The market for direct current electric drives is also being limited by technical issues like a reduced power supply and the inability to directly step up or down DC voltage. To keep the market for DC electric drives growing, these issues must be resolved.

Direct Current Electric Drives Market Opportunities:

The market for direct current (DC) electric drives offers a number of promising growth prospects. The rapid industrialization of emerging economies such as China, Brazil, India, and others presents an opportunity for expansion. In addition, there is an increasing need for DC drives in these industries as renewable energy sources like solar and wind power gain popularity. Innovation is becoming more possible due to technological advancements, particularly in fields like power electronics and connectivity. Industry 4.0 technologies can be integrated with DC drives to enable more intelligent and effective operations. Furthermore, there is a need for energy-efficient solutions due to the increased emphasis on environmental sustainability and energy efficiency, which presents additional opportunities for DC drives. Modern DC drives can be retrofitted into older equipment to upgrade industrial systems at a reasonable cost.

DIRECT CURRENT ELECTRIC DRIVES MARKET REPORT COVERAGE:

Global Direct Current Electric Drives Market Segmentation: By Voltage

• Up to 240 V

• 240-600 V

• 600V & Above

The market segment for direct current electric drives up to 240 V is predicted to produce the most revenue over the projected period of time. These drives are widely used in many different applications, including spindles, pumps, fans, conveyors, boring machines, and extruder screws. They are especially useful in industries like processing, metals, and oil and gas. Due to their widespread use in processing industries and industrial applications, up to 240 V DC drives are in high demand. The extensive use of the 240–600 V segment in applications such as industrial pumping systems, commercial elevators, small lathes and mills, packaging, and material handling equipment, among others, is also fostering market expansion. Furthermore, the 600 V & above segment is growing steadily due to its use in large-scale industries such as machine tools, food processing machinery, material handling systems, automotive assembly, and assembly machinery.

Global Direct Current Electric Drives Market Segmentation: By Power Rating

• Up to 250 KW

• 251 - 500 KW

• 500 KW & Above

Up to 250 kW is expected to hold the largest market share in the direct current electric drives market. This is due to the fact that DC drives are being used in a growing number of small and medium-sized businesses for a variety of purposes, including pumps, fans, conveyors, milling machines, small shop machine tools, and kitchen equipment. The market is growing because up to 250 kW drives are widely used. The increased demand for applications such as fans, extraction hoods, agitators, mixers, saws, belt conveyors, pumps, and saws from medium- and large-scale businesses is also contributing to the growth in market share of the 251 - 500 kW category. Additionally, the 500 kW & above category is helping the market grow, especially in the oil and gas and power generation industries where these drives are utilized for automated stores, lifts, bridge cranes, cableways, and other applications.

Global Direct Current Electric Drives Market Segmentation: By End User

• Oil & Gas

• Power Generation

• Chemical & Petrochemical

• Water & Wastewater

• Metal & Mining

• Food & Beverage

• Discrete Industries

• Others

The market share of DC electric drives is presently held by the oil and gas industry, and this trend is anticipated to continue. Speed adjustment is a critical feature of DC drives that helps control flow and minimize energy loss in a variety of applications, including induced draught fans, boiler feed pumps, service water pumps, gas compressors, and oil pumps—all of which are frequently utilized in the oil and gas sector. DC drives are also used for speed regulation in the food and beverage industry, as well as in the chemical and petrochemical industries. They are used in many different processes, including food production, liquid filling, packing, and storage, handling raw materials, processing, and conveying. Other industries that use DC drives include building automation, water and wastewater treatment, metal & mining, and more. The demand for DC drives is anticipated to increase dramatically in the upcoming years due to their wide range of applications and rising demand from numerous industrial sectors.

Global Direct Current Electric Drives Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East and Africa

Industrialization and the growth of the manufacturing sector are being propelled by large investments and rapid infrastructure development in developing economies such as those in Asia-Pacific. As a result, industries see a rise in demand for DC drives, which is bolstered by significant spending from these developing countries. Over the course of the forecast period, the DC drive market is anticipated to grow at the fastest rate in the Asia-Pacific region, followed by North America and Europe. Demand will be boosted in North America by the growth of the oil and gas industry in the US and Canada as well as the increasing use of DC drives in the food and beverage sector in European countries. Furthermore, as the American government encourages the manufacture of electric vehicles, there will likely be a greater need for DC motors. Government electric vehicle subsidies are also propelling market expansion in Europe in an effort to lower carbon emissions. Over the course of the projection period, there will be a rise in the demand for direct current drives due to the continued development in the Middle East, Africa, and Latin America, particularly in the areas of oil production, exploration, and chemical and petrochemical industries.

COVID-19 Impact on the Global Direct Current Electric Drives Market:

The COVID-19 pandemic has resulted in extensive disruptions in almost 200 countries, creating global imbalances between the supply and demand for essential goods. As a result, the market for direct current electric drives saw negative growth during the pandemic as a result of projects being halted by the mining and oil and gas industries because of output restrictions and shortages of raw materials. However, as economies recover and industries resume operations, the market for direct current electric drives is anticipated to grow favorably following COVID-19. This is because there will be a greater demand from industry.

Latest Trend/Development:

The market for direct current (DC) electric drives has seen a number of changes and trends recently. Due to their dependability and efficiency, DC drives are becoming more and more popular across a range of industries. DC drives are being used more often in a variety of industries, including manufacturing, mining, oil and gas, and food processing, for a wide range of applications, such as fans, conveyors, pumps, and machining tools. The incorporation of cutting-edge technologies like artificial intelligence (AI) and the Internet of Things (IoT) into DC drive systems is another noteworthy trend. Real-time drive performance monitoring and optimization are made possible by this integration, which boosts productivity and lowers downtime. Furthermore, the need for DC drives with regenerative braking capabilities is being driven by an increasing emphasis on sustainability and energy efficiency in industrial operations. By repurposing energy during deceleration, these drives can lower operating costs and energy consumption. Furthermore, producers are always coming up with new and inventive ways to create DC drive systems that are lighter and more compact without sacrificing functionality. The demand for space-saving solutions in industrial settings is what's driving this trend.

Key Players:

1. ABB Ltd.

2. Crompton Greaves Limited

3. Danfoss Group

4. Emerson Electric Co.

5. Ge Power Conversion.

6. Hitachi

7. Mitsubishi Electric Corporation

8. Nidec Motor Corporation

9. Parker Hannifin Co.

10. Renown Electric Motors

11. Rockwell Automation

12. Schneider Electric SE

13. Siemens Ag

14. Toshiba International Corporation Ltd.

Market News:

• Siemens unveiled the Simatic Micro-Drive in March 2022, a new servo drive system intended to increase the range of drives it offers for 24-48V EC motors in the safety extra-low voltage range. The Simatic Micro-Drive is available in power units ranging from 100 watts to 1 kilowatt and supports side-by-side rail installation. When used in conjunction with compatible SIMATIC controllers, it improves motion control capabilities.
• The PowerFlex 6000T medium voltage (MV) drives, with TotalFORCE technology and a single control architecture, were introduced by NHP and Rockwell Automation in October 2021. The Studio 5000 design environment's configuration, integration, and visualization are made simpler by these drives.