An Incisive, In-depth Analysis on the Variable Frequency Drives Market
This study offers a comprehensive, 360 degree analysis on the Variable Frequency Drives market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Variable Frequency Drives market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Variable Frequency Drive Market Growth Complemented by the Net-zero Energy Goal
Invigorated by profound emphasis on energy-efficiency and escalating energy prices, global variable frequency drive (VFD) market is set to expand at a robust 6.2% CAGR for the course of projection period (2019-2029). The preponderance of growth drivers such as prevalence of VFD-equipped motor control systems, reduced operational expenditure, conspicuous efficiency are spurring the demand.
Having surpassed a value pool of approximately US$ 21 Bn in 2018, the sales of variable frequency drives will witness further upward growth trajectory through 2029. Amongst various types of drives, servo variable frequency drives continue to be favoured by manufacturers worldwide. However, DC drives are projected to gain widespread adoption throughout the forecast period.
Sustainable Endeavours Continue to Stimulate Demand for Variable Frequency Drives
‘Affordable and Clean Energy’ is amongst 17 Sustainable Developments Goals (SDGs) set forth by United Nations to be accomplished by the year 2030. Hence, the governments worldwide are compelled to promote the use of energy-efficient equipment for timely realization of their sustainable objectives. Attaining Net-zero energy is amongst their key long-term goals.
Conventional electric drives consume inordinate amount of energy. For instance, in standard pumps, the pressure inside the valves is increased to control the flow. This in turn deteriorates the efficiency of the pumps. Leading innovators integrated conventional pump systems with variable frequency drives. Through this technology, the pump motor can be operated at variable speeds, enabling consumers to achieve the desired flow while reducing energy consumption.
Low Voltage Variant to Sustain Hegemony Through 2029
On account of multitude of applications such as conveyors system, power generation, petrochemicals, pumps, and smart mining, low voltage variant of variable frequency drive is projected to lead the market. Moreover, relatively low price point, facile operation, and compact size is burgeoning the sales of low voltage drives. Hence, low voltage drives contribute substantially to the overall revenue.
The demand for low voltage drives is primarily concentrated in Asia Pacific. Low voltage variable frequency drives are predominantly being used in conveyors, extruders and pumps. On that premise, the regional market is projected to witness significant growth during the forecast period.
Asia Pacific Continues to Lead Regional Variable Frequency Drive Market
In view of emerging economies, Asia Pacific constitutes 33% revenue share of global VFD market. The regional market will grow at a promising pace owing to widespread utilization of low voltage drives in conveyors and power generation end-use segments. India, China and Japan are amongst major contributors of variable frequency drive market growth.
Moreover, North America will acquire strong global position in variable frequency drive market. The United States in particular will experience double-digit growth through 2029. Amongst developing countries, India will observe prolific growth over the forecast period. The governments in these countries are keen on making massive investments in energy-efficient devices.
Major Players Renew Their Focus on Innovation to Outclass Competitors
Prominent companies in variable frequency drive market include, Honeywell International Inc., Rockwell Automation Inc., GE Energy Power Conversion, Mitsubishi Electric Corporation, Siemens AG, Toshiba International Corporation, and Hitachi Ltd. Major players are making enormous pecuniary investments in developing innovative variable frequency drives.
Compatibility and functionality of VFDs will remain paramount research areas for leading innovators. They aim to achieve technological advancements while maintaining the differential cost.
Variable Frequency Drive Market Analysis 2019-2029
A recent market study published by Future Market Insights on the variable frequency drive market includes global industry analysis for 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on historic as well as current growth parameters, growth prospects of the variable frequency drive market are obtained with maximum precision.
Variable Frequency Drive Market: Segmentation
The global variable frequency drive market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
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Drive |
Voltage Range |
End Use |
Application |
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Report Chapters
Chapter 01 – Executive Summary
The report begins with an executive summary of the variable frequency drive market, which includes key findings and statistical analysis of the market.
Chapter 02 – Variable Frequency Drive Market Overview
Readers can find the definition and detailed taxonomy of the market in this chapter, which will help them understand the basic information about the market.
Chapter 03 - Global Variable Frequency Drive Market Demand Analysis 2014-2018 and Forecast, 2019-2029
This section explains the global market value analysis and forecast for the variable frequency drive market during the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical variable frequency drive market, along with opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029).
Chapter 04 - Global Variable Frequency Drive Market - Pricing Analysis
This section covers pricing analysis of the variable frequency drive market at the regional level.
Chapter 05 – Variable Frequency Drive Market Background
This section explains the global market value analysis and forecast for the variable frequency drive market during the forecast period of 2019-2029 and the key macroeconomic factors that are expected to influence growth of the variable frequency drive market during the forecast period. This section also highlights the opportunity analysis for the variable frequency drive market. This chapter also provides key market dynamics, which include drivers and restraints. Moreover, readers will understand key trends followed by leading manufacturers in the variable frequency drive market.
Chapter 06 – Global Variable Frequency Drive Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Region
This chapter explains how the variable frequency drive market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, Asia Pacific, Middle East and Africa (MEA).
Chapter 07 – Global Variable Frequency Drive Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by End Use
Based on End-use, the variable frequency drive market has been segmented into conveyor, compressor, HVAC, fan and pump. In this chapter, readers can find information about key trends and developments in the variable frequency drive market and market attractiveness analysis, based on end-use.
Chapter 08 – Global Variable Frequency Drive Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Application
This chapter provides details about the variable frequency drive market based on application, and has been classified into regenerative and standard. Through this chapter, readers can understand market attractiveness analysis based on application.
Chapter 09 – Global Variable Frequency Drive Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Drive
This chapter provides details about the variable frequency drive market based on drive type, and has been classified into servo drive, AC drive and DC drive. Through this chapter, readers can understand market attractiveness analysis based on drive type.
Chapter 10 – Global Variable Frequency Drive Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Voltage Range
This chapter provides details about the variable frequency drive market based on voltage range, and has been classified into medium and low voltage range. Through this chapter, readers can understand market attractiveness analysis based on voltage range.
Chapter 11 – North America Variable Frequency Drive Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
This chapter includes detailed analysis of the growth of the North America variable frequency drive market, along with country-wise assessment that includes the U.S. and Canada. Readers can also find pricing analysis, regional trends, and market growth based on end-use, application, voltage range, drive type and countries in North America.
Chapter 12 – Latin America Variable Frequency Drive Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
This chapter provides the growth scenario of the variable frequency drive market in countries in Latin American such as Brazil, Mexico, and the rest of Latin America. Along with this, assessment of the market across target segments has also been provided.
Chapter 13 – Europe Variable Frequency Drive Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
Important growth prospects of the variable frequency drive market in several countries such as Germany, the U.K., France, Spain, Italy, Russia, and the rest of Europe are included in this chapter.
Chapter 14 – MEA Variable Frequency Drive Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
This chapter provides information about how the variable frequency drive market is anticipated to grow in major countries in the MEA region such as GCC countries, South Africa, Turkey, Northern Africa, and the rest of MEA during the forecast period.
Chapter 15 – Asia Pacific Variable Frequency Drive Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
Leading countries in the Asia Pacific region are prime subjects of assessment to obtain growth prospects of the Asia Pacific variable frequency drive market in this chapter. Readers can find detailed information about growth parameters of the Asia Pacific variable frequency drive market during the forecast period.
Chapter 16 – Emerging Countries Variable Frequency Drive Market Analysis 2014-2018 and Forecast 2019-2029
This chapter explains how the variable frequency drive market is anticipated to grow across various emerging countries such as China, and India.
Chapter 17 – Market Structure Analysis
In this chapter, readers can find detailed information about tier analysis and market concentration of key players in the variable frequency drive market, along with their market presence analysis by region and product portfolio.
Chapter 18 - Competition Analysis
In this chapter, readers can find detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in this report are Fuji Electric Co., Ltd., Siemens AG, Mitsubishi Electric Corporation, Hitachi Ltd., STMicroelectronics, Rockwell Automation Inc., GE Energy Power Conversion, Honeywell International Inc., and ABB Ltd.
Chapter 19 – Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the variable frequency drive market report.
Chapter 20 – Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the variable frequency drive market. The report focuses on variable frequency drives consumed in the Industrial Automation & Equipment industry.
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