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The medium voltage AC drives in India market experienced a decline as demand from industries stumbled due to pandemic-led restricted industrial activities, lockdowns, factory shutdowns, and suppressed orders.
Encouraging government responses with effective monetary and fiscal policies will improve market conditions in manufacturing and capital investments across many industries. Trends such as the need for new infrastructure and water supply; increasing population; and energy-efficient and climate-friendly solutions will drive growth in the medium voltage AC drives in India market during the forecast period.
The market is dominated by Siemens, ABB, and TMEIC. Overall, ARC’s analysis suggests that a broad range of products and solutions clearly enable suppliers to garner defensible leadership positions.
In addition to providing a five-year market forecast, the medium voltage AC drives for India market research provides detailed quantitative current market data and addresses key strategic issues as follows.
Even though connected infrastructure is essential, end users and operators are reluctant toward adopting Industrial IoT. Cybersecurity and perceived loss of intellectual property rights are a major threat to the adoption of Industrial IoT. Suppliers need to take cybersecurity into account and steps to increase safety and also how devices detect, analyze, and combat threats.
Supply chain disruptions on account of the COVID-19 pandemic have created electronics component and semiconductor shortages, which can impact product delivery times, thereby impacting supplier revenues.
The COVID-19 outbreak has caused disruptions to supply chains and business operations. While the pandemic impacted the 2020 demand for medium voltage AC drives, the market projections do take into account industry trends with ARC’s best estimates for how the COVID-19 pandemic will impact the market in different industry types.
The research identifies all relevant suppliers serving this market.
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