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North America Variable Frequency Drive Market

Market Insights on North America Variable Frequency Drive covering sales outlook, demand forecast & up-to-date key trends

North America Variable Frequency Drive Market By Voltage Range Type (Low Voltage Range, Medium Voltage Range), End-Use Industry (Oil & Gas, Food Processing, Automotive), Application (Standard, Regenerative) & Region - Forecast to 2017 - 2027

U.S. variable frequency drive market revenue is anticipated to expand at a moderate CAGR over the period 2017–2027

Variable frequency drive sales value and volume consumption in the U.S. is projected to expand at the highest CAGR over the forecast period. In 2016, the U.S. variable frequency drive market was valued at more than US$ 3,300 Mn and has been estimated to increase to a little more than US$ 3,500 Mn by 2017 end, reflecting a Y-o-Y growth rate of 5.9%.

The U.S. country market is anticipated to create incremental dollar opportunity of close to US$ 3,000 Mn between 2016 and 2027 in the North America variable frequency drive market. In terms of market value, the Canada variable frequency drive market was valued at US$ 911.8 Mn in 2016 and has been estimated to increase to more than US$ 950 Mn by 2017 end, reflecting a Y-o-Y growth rate of 5.2%.

Revenue contribution from the variable frequency drive market in Canada is expected to increase at a CAGR of 4.8% over the forecast period. The Canada market is anticipated to create incremental dollar opportunity of more than US$ 600 Mn between 2016 and 2027 in the North America variable frequency drive market.

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Upsurge in energy prices and technological advancements in variable frequency drives are anticipated to fuel revenue growth of the variable frequency drive market in U.S. and Canada

Escalating energy prices has created the need for energy-efficient motor control systems. With the aim of reducing energy consumption, process engineers and other executives managing the operation department are increasingly inclined towards deployment of variable frequency drives. It acts as a substitute to throttling devices such as general valves, industrial valves and dampers and fixed speed controllers.

This factor is expected to boost the growth of the variable frequency drive market in the U.S and Canada. The emergence of new application areas coupled with advantages such as the low operational cost of systems with a deployment of variable frequency drives are factors expected to create favourable opportunities for variable frequency drives vendors in Canada and the U.S.

Motors, when connected to variable frequency drives, receive power that comprises changeable carrier frequency, fundamental frequency, and very rapid voltage buildup. These factors can result in a negative impact, especially when existing motors are retrofitted with such drives. Currently, leading variable frequency drive manufacturers are introducing general purpose variable frequency drives with the added advantage of deployment compatibility with existing electric motors. This, in turn, is fuelling the growth of the variable frequency drive market in North America.

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With a decreasing price of variable frequency drives, the relevant application areas are broadening. End users in North America are aware of the numerous advantages offered by variable frequency drives and are inclined towards deployment of such drives for indoor applications as well. For instance, adoption of variable frequency drives to reduce the energy consumption of swimming pool filtration and pumping systems is gaining traction in matured markets.

Variable frequency drives, when installed along with a flow-meter also known as intelligent flow meter, ensure appropriate water volume and eliminate energy wastage due to worst-case design philosophy. All these positive aspects are driving the U.S and Canada variable frequency drive market.

High deployment costs associated with medium voltage variable frequency drives is predicted to hamper the growth of the North America variable frequency drive market

Although prices of variable frequency drives have declined over the last decade, medium voltage variable frequency drives come with a high price tag. For typical applications in the industrial sector, the deployment of medium voltage variable frequency drives is expected to increase during the forecast period. However, high initial costs associated with medium voltage variable frequency drives is hampering the growth of the market.  

Nikhil Kaitwade
Principal Consultant
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Market Segmentation

By Country:

  • U.S.
  • Canada

By Drive Type:

  • AC Drive
  • DC Drive
  • Servo Drive

By Voltage Range:

  • Low Voltage Range
  • Medium Voltage Range

By Application Type:

  • Standard
  • Regenerative

By End-Use Application:

  • Pump
  • Fan
  • Compressor
  • Conveyor
  • HVAC
  • Others

By End-Use Industry:

  • Oil & Gas
  • Food Processing
  • Automotive
  • Mining & Metals
  • Pulp and Papers
  • Other
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Frequently Asked Questions

The North America variable frequency drive market is likely to secure a CAGR of 5.5% through 2032.

The North America variable frequency drive market size is estimated to cross US$ 4.5 Bn by 2032.

The North America variable frequency drive market is likely to record a value of US$ 49.35 Bn in 2022.

The US is likely to lead the North America variable frequency drive market.

Table of Content

1. North America Variable Frequency Drive (VFD) Market - Executive Summary

2. Research Methodology

3. Assumptions and Acronyms Used

4. North America Variable Frequency Drive (VFD) Market Overview

    4.1. Introduction

        4.1.1.  Variable Frequency Drive (VFD) Market Taxonomy

        4.1.2.  Variable Frequency Drive (VFD) Market Definition

    4.2. North America Variable Frequency Drive (VFD) Market Size and Forecast

        4.2.1.  North America Variable Frequency Drive (VFD) Market Y-o-Y Growth

        4.2.2.  North America Variable Frequency Drive (VFD) Market Absolute $ Opportunity

    4.3. Variable Frequency Drive (VFD) Market Dynamics

        4.3.1.  Drivers

        4.3.2.  Restraints

        4.3.3.  Opportunity

    4.4. Value Chain

    4.5. North America Variable Frequency Drive (VFD) Market Size and Forecast, 2017-2027

        4.5.1.  North America Variable Frequency Drive (VFD) Market Y-o-Y Growth

        4.5.2.  North America Variable Frequency Drive (VFD) Market Absolute $ Opportunity

    4.6. North America Variable Frequency Drive (VFD) Market Trends

    4.7. North America Variable Frequency Drive (VFD) Market Snapshot (2016)

        4.7.1.  Market Share, By Drive Type

        4.7.2.  Market Share, By Voltage Range

        4.7.3.  Market Share, By Application Type

        4.7.4.  Market Share, By End-use Application

        4.7.5.  Market Share, By End-use Industry

        4.7.6.  Market Share, By Country

5. North America Variable Frequency Drive (VFD) Market Analysis and Forecast, By Country

    5.1. Introduction

        5.1.1. Basis Point Share (BPS) Analysis By Country

        5.1.2. Y-o-Y Growth Projections By Country

    5.2. Market Size and Forecast By End-use Industry

        5.2.1.  U.S

            5.2.1.1. Absolute $ Opportunity

            5.2.1.2. Market Size Forecast By End-use Industry

        5.2.2.  Canada 

            5.2.2.1. Absolute $ Opportunity

            5.2.2.2. Market Size Forecast By End-use Industry

    5.3. Market Attractiveness Analysis By Country

    5.4. Prominent Trends

6. North America Variable Frequency Drive (VFD) Market Analysis and Forecast, By Drive Type

    6.1. Introduction

        6.1.1. Basis Point Share (BPS) Analysis By Drive Type

        6.1.2. Y-o-Y Growth Projections By Drive Type

    6.2. Market Size and Forecast By Drive Type

        6.2.1. AC Drive

            6.2.1.1. Absolute $ Opportunity

            6.2.1.2. Market Size Forecast By Drive Type

        6.2.2. DC Drive

            6.2.2.1. Absolute $ Opportunity

            6.2.2.2. Market Size Forecast By Drive Type

        6.2.3. Servo Drive

            6.2.3.1. Absolute $ Opportunity

            6.2.3.2. Market Size Forecast By Drive Type

    6.3. Market Attractiveness Analysis By Drive Type

    6.4. Prominent Trends

7. North America Variable Frequency Drive (VFD) Market Analysis and Forecast, By Voltage Range

    7.1. Introduction

        7.1.1. Basis Point Share (BPS) Analysis By Voltage Range

        7.1.2. Y-o-Y Growth Projections By Voltage Range

    7.2. Market Size and Forecast By Voltage Range

        7.2.1. Low Voltage Range

            7.2.1.1. Absolute $ Opportunity

            7.2.1.2. Market Size Forecast By Voltage Range

        7.2.2. Medium Voltage Range

            7.2.2.1. Absolute $ Opportunity

            7.2.2.2. Market Size Forecast By Voltage Range

    7.3. Market Attractiveness Analysis By Voltage Range

    7.4. Prominent Trends

8. North America Variable Frequency Drive (VFD) Market Analysis and Forecast, By Application Type

    8.1. Introduction

        8.1.1. Basis Point Share (BPS) Analysis By Application Type

        8.1.2. Y-o-Y Growth Projections By Application Type

    8.2. Market Size and Forecast By Application Type

        8.2.1. Standard

            8.2.1.1. Absolute $ Opportunity

            8.2.1.2. Market Size Forecast By Application Type

        8.2.2. Regenerative

            8.2.2.1. Absolute $ Opportunity

            8.2.2.2. Market Size Forecast By Application Type

    8.3. Market Attractiveness Analysis By Application Type

    8.4. Prominent Trends

9. North America Variable Frequency Drive (VFD) Market Analysis and Forecast, By End-use Application

    9.1. Introduction

        9.1.1. Basis Point Share (BPS) Analysis By End-use Application

        9.1.2. Y-o-Y Growth Projections By End-use Application

    9.2. Market Size and Forecast By End-use Application

        9.2.1. Pump

            9.2.1.1. Absolute $ Opportunity

            9.2.1.2. Market Size Forecast By End-use Application

        9.2.2. Fan

            9.2.2.1. Absolute $ Opportunity

            9.2.2.2. Market Size Forecast By End-use Application

        9.2.3. Compressor

            9.2.3.1. Absolute $ Opportunity

            9.2.3.2. Market Size Forecast By End-use Application

        9.2.4. Conveyor

            9.2.4.1. Absolute $ Opportunity

            9.2.4.2. Market Size Forecast By End-use Application

        9.2.5. HVAC

            9.2.5.1. Absolute $ Opportunity

            9.2.5.2. Market Size Forecast By End-use Application

        9.2.6. Other Applications

            9.2.6.1. Absolute $ Opportunity

            9.2.6.2. Market Size Forecast By End-use Application

    9.3. Market Attractiveness Analysis By End-use Application

    9.4. Prominent Trends

10. North America Variable Frequency Drive (VFD) Market Analysis and Forecast, By End-use Industry

    10.1. Introduction

        10.1.1. Basis Point Share (BPS) Analysis By End-use Industry

        10.1.2. Y-o-Y Growth Projections By End-use Industry

    10.2. Market Size and Forecast By End-use Industry

        10.2.1. Oil & Gas

            10.2.1.1. Absolute $ Opportunity

            10.2.1.2. Market Size Forecast By End-use Industry

        10.2.2. Food Processing

            10.2.2.1. Absolute $ Opportunity

            10.2.2.2. Market Size Forecast By End-use Industry

        10.2.3. Automotive

            10.2.3.1. Absolute $ Opportunity

            10.2.3.2. Market Size Forecast By End-use Industry

        10.2.4. Mining & Metals

            10.2.4.1. Absolute $ Opportunity

            10.2.4.2. Market Size Forecast By End-use Industry

        10.2.5. Pulp & Papers

            10.2.5.1. Absolute $ Opportunity

            10.2.5.2. Market Size Forecast By End-use Industry

        10.2.6. Others (Power generation, chemical processing, etc.)

            10.2.6.1. Absolute $ Opportunity

            10.2.6.2. Market Size Forecast By End-use Industry

    10.3. Market Attractiveness Analysis By End-use Industry

    10.4. Prominent Trends

11. Competitive Landscape

        11.1. Competition Dashboard

        11.2. Market Structure Outlook

        11.3. Company Profiles

            11.3.1. Fuji Electric Co., Ltd

                11.3.1.1. Company Overview

                11.3.1.2. Products/Brand Offerings

                11.3.1.3. Key Developments

                11.3.1.4. Growth Strategies

                11.3.1.5. Key Financial Ratios

            11.3.2. Mitsubishi Electric Corporation

            11.3.3. Siemens AG

            11.3.4. ABB Ltd.

            11.3.5. American Electric Technologies Inc. (AETI)

            11.3.6. General Electric Company

            11.3.7. Hitachi Limited

            11.3.8. Honeywell International Inc.

            11.3.9. Rockwell Automation Inc.

            11.3.10. Johnson Controls Inc.

            11.3.11. Emerson Industrial Automation

            11.3.12. Toshiba International Corporation

            11.3.13. Schneider Electric

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List of Tables

Table 1: North America Variable Frequency Drive Market Value (US$ Mn) and Absolute $ Opportunity, By Country, 2016–2027

Table 2: North America Variable Frequency Drive Market Volume (‘000 Unit) and Absolute Unit Opportunity, By Country, 2016–2027

Table 3: North America Variable Frequency Drive Market Value (US$ Mn) and Absolute $ Opportunity Forecast, By Drive Type, 2016–2027

Table 4: North America Variable Frequency Drive Market Volume ('000 Unit) and Absolute Unit Opportunity Forecast, By Drive Type, 2016–2027

Table 5: North America Variable Frequency Drive Market Value (US$ Mn) and Absolute $ Opportunity Forecast, By Voltage Range, 2016–2027

Table 6: North America Variable Frequency Drive Market Volume ('000 Unit) and Absolute Unit Opportunity Forecast, By Voltage Range, 2016–2027

Table 7: North America Variable Frequency Drive Market Value (US$ Mn) and Absolute $ Opportunity Forecast, By Application Type, 2016–2027

Table 8: North America Variable Frequency Drive Market Volume (‘000 Units) and Absolute Unit Opportunity Forecast, By Application Type, 2016–2027 

Table 9: North America Variable Frequency Drive Market Value (US$ Mn) and Absolute $ Opportunity Forecast End-use Application, 2016–2027 

Table 10: North America Variable Frequency Drive Market Volume ('000 Unit) and Absolute Unit Opportunity Forecast, By End-use Application, 2016–2027

Table 11: North America Variable Frequency Drive Market Value (US$ Mn) and Absolute $ Opportunity Forecast, By End-use Industry, 2016–2027

Table 12: North America Variable Frequency Drive Market Volume ('000 Unit) and Absolute Unit Opportunity Forecast, By End-use Industry, 2016–2027

Nikhil Kaitwade
Principal Consultant
LinkedIn
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List of Charts

Figure 1: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, 2017–2027 & Y-o-Y Growth, 2017–2027 

Figure 2: North America Variable Frequency Drive Market Absolute $ Opportunity, 2017–2027

Figure 3: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, 2017–2027 & Y-o-Y Growth, 2017–2027 

Figure 04: North America Variable Frequency Drive Market Value Share, By Country, 2016 & 2027

Figure 05: North America Variable Frequency Drive Market Volume Share, By Country, 2016 & 2027 

Figure 6: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By U.S., 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 7: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By U.S., 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 8: North America Variable Frequency Drive Market Value 2016–2027 (US$ Mn) Forecast, By Canada, & Y-o-Y Growth, 2017–2027

Figure 9: North America Variable Frequency Drive Market Volume ('000 Unit)  Forecast, By Canada, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 10: North America Variable Frequency Drive Market Value Attractiveness, By Country, 2017–2027

Figure 11: North America Variable Frequency Drive Market Volume Attractiveness, By Country, 2017–2027 

Figure 12: North America Variable Frequency Drive Market Value Share, By Drive Type, 2016 & 2027

Figure 13: North America Variable Frequency Drive Market Volume Share, By Drive Type, 2016 & 2027 

Figure 14: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By AC Drive Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 15: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By AC Drive Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 16: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By DC Drive Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 17: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By DC Drive Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 18: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Servo Drive Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 19: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By Servo Drive Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 20: North America Variable Frequency Drive Market Value Attractiveness, By Drive Type, 2017–2027

Figure 21: North America Variable Frequency Drive Market Volume Attractiveness, By Drive Type, 2017–2027 

Figure 22: North America Variable Frequency Drive Market Value Share, By Voltage Range, 2016 & 2027

Figure 23: North America Variable Frequency Drive Market Volume Share, By Voltage Range, 2016 & 2027 

Figure 24: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Low Voltage Range Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 25: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By Low Voltage Range Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 26: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Medium Voltage Range Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 27: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By Medium Voltage Range Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 28: North America Variable Frequency Drive Market Value Attractiveness, By Voltage Range, 2017–2027

Figure 29: North America Variable Frequency Drive Market Volume Attractiveness, By Voltage Range, 2017–2027 

Figure 30: North America Variable Frequency Drive Market Value Share, By Application Type, 2016 & 2027

Figure 31: North America Variable Frequency Drive Market Volume Share, By Application Type, 2016 & 2027 

Figure 32: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Standard Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 33: North America Variable Frequency Drive Market Volume ('000 Unit)  Forecast, By Standard Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 34: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Regenerative Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 35: North America Variable Frequency Drive Market Volume ('000 Unit)  Forecast, By Regenerative Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 36: North America Variable Frequency Drive Market Value Attractiveness, By Application Type, 2017–2027

Figure 37: North America Variable Frequency Drive Market Volume Attractiveness, By Application Type, 2017–2027 

Figure 38: North America Variable Frequency Drive Market Value Share, By End-use Application, 2016 & 2027

Figure 39: North America Variable Frequency Drive Market Volume Share, By End-use Application, 2016 & 2027 

Figure 40: North America Variable Frequency Drive Market Value (US$ Mn)  Forecast, By Pump Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 41: North America Variable Frequency Drive Market Volume ('000 Unit)  Forecast, By Pump Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 42: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Fan Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 43: North America Variable Frequency Drive Market Volume ('000 Unit)  Forecast, By Fan Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 44: North America Variable Frequency Drive Market Value (US$ Mn)  Forecast, By Compressor Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 45: North America Variable Frequency Drive Market Volume ('000 Unit)  Forecast, By Compressor Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 46: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Conveyor Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 47: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By Conveyor Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 48: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By HVAC Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 49: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By HVAC Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 50: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Others Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 51: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By Others Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 52: North America Variable Frequency Drive Market Value Attractiveness, By End-use Application, 2017–2027

Figure 53: North America Variable Frequency Drive Market Volume Attractiveness, By End-use Application, 2016–2027 

Figure 54: North America Variable Frequency Drive Market Value Share, By End-use Industry, 2016 & 2027

Figure 55: North America Variable Frequency Drive Market Volume Share, By End-use Industry, 2016 & 2027 

Figure 56: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Oil & Gas Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 57: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By Oil & Gas Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 58: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Food Processing Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 59: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By Food Processing Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 60: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Automotive Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 61: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By Automotive Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 62: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Mining & Metals Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 63: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By Mining & Metals Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 64: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Pulp & Papers Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 65: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By Pulp & Papers Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 66: North America Variable Frequency Drive Market Value (US$ Mn) Forecast, By Others Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 67: North America Variable Frequency Drive Market Volume ('000 Unit) Forecast, By Others Segment, 2016–2027 & Y-o-Y Growth, 2017–2027

Figure 68: North America Variable Frequency Drive Market Value Attractiveness, By End-use Industry, 2016–2027

Figure 69: North America Variable Frequency Drive Market Volume Attractiveness, By End-use Industry, 2016–2027

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North America Variable Frequency Drive Market