Roller chain drives has become an inseparable part of every modern manufacturing and processing industries. Although manufacturing industries are the biggest consumer of roller chain drives, these drives are also extensively used for several other end-use industries including transportation & logistics, construction & mining and agricultural equipment among others. Chain drives are considered as one of the most efficient power and motion transmission drives as they are capable of delivering with almost 99% efficiency.
The global electric drives market is anticipated to grow at a 5% CAGR between 2023 to 2030. The rising emphasis on industrial automation and the introduction of the internet of things (IoT) is anticipated to fuel the need for electric drives over the next years. Electric drives provide a low-cost, highly efficient production method. In order to acquire a cost advantage over electricity usage, the demand for electric drives is anticipated to develop at a rapid rate.
In addition, the fast acceptance of the internet of things (IoT) and its implementation with the equipment and control systems in industrial automation to increase production capacity and output has increased the demand for market research. In addition, the providers prioritize the introduction of IoT-enabled electric drives for various industrial applications. Increasing industrialization and urbanization have boosted the demand for motor-driven and automated equipment, hence accelerating the global sales of AC drives. However, the expense of initial installation, the cost of maintenance, and the availability of several alternatives to electric drives are the issues impeding the market growth of electric drives.
The shutdown of factories and plants and travel restrictions imposed during the Covid-19 pandemic had a significant impact on manufacturing facilities, resulting in a decrease in demand for electric drives across various industry verticals, including oil & gas, construction machinery, power generation, etc. AC electric drives are in high demand due to the continuously increasing output of AC motor-driven applications and the numerous advantages of AC drives over DC drives, such as the need for reduced maintenance, energy economy, and quick availability.
AC drives are commonly employed in manufacturing industries to regulate and control elements like conveyors, machine spindles, and pumps, which are utilized in the majority of production operations. In addition, these drives enable process companies to boost the efficiency of their equipment. In addition, these drives can be coupled to many motors and pumps and can modulate motor frequency to achieve the appropriate speed, hence enabling operational control and reducing the need for human intervention in the processes. These qualities have made these electric drives a superior option for precision applications, such as conveyors, robots, and material-handling procedures, and have increased the need for AC drives. The providers are introducing technologically superior solutions that offer a number of advantages over conventional drives and performance.
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