25 Apr Ultra-low Voltage Drives set to triple in growth by 2027
Ultra-low Voltage Drives Market is the next billion dollar market.
According to Automation.com, the leading publisher of automation-related content, the global ultra-low voltage (LV) drives market is set to grow to $3.1 billion by 2027. An ultra-LV drive is categorised as being below 60 volts.
Based on new research from Interact Analysis, demand from the mobile robotics sector resulted in vendors participating in the market, with battery driven applications fueling growth. The autonomous mobile robot (AMR) and automated guided vehicle (AGV) sector will continue influencing the ultra-LV market, accounting for a predicted 56% of revenues by 2027.
This is mostly due to fast-paced adoption of mobile robots, especially those using an integrated motor and drive. This gives cost and space savings, while delivering greater efficiency of the drive itself. Experts have commented that the ultra-LV drives market will experience exponential growth in the next few years. In 2022 alone, most vendors registered double digit growth of up to 35%.
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