Global DC Drives Market to Reach $5.1 Billion by 2026
SAN FRANCISCO, Aug. 4, 2021 /PRNewswire/ --A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "DC Drives - Global Market Trajectory & Analytics" .
- SAN FRANCISCO, Aug. 4, 2021 /PRNewswire/ --A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "DC Drives - Global Market Trajectory & Analytics" .
- While AC drives are more popular in comparison to DC motors and drives, there are specific applications that rely on DC drives such as crane & hoist equipment, spindle drives, elevators, crushers, paper production systems and winders.
- Amid the COVID-19 crisis, the global market for DC Drives estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$5.1 Billion by 2026, growing at a CAGR of 3.9% over the analysis period.
- While China remains the primary DC drives market owing to rapid industrialization, developing nations like India and Brazil are expected to make a healthy contribution to the global market.