Variable Frequency Drives - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Variable Frequency Drives Market is accounted for $22.37 billion in 2019 and is expected to reach $41.10 billion by 2027 growing at a CAGR of 7.9% during the forecast period. Increase in technological advancements and rising rate of urbanization and industrialization are the major factors driving the market growth. However, stagnant growth of the oil & gas industry is restraining the market growth.
Variable frequency drive, otherwise called as adjustable frequency drive, is utilized in an electromechanical drive system so as to control torque and AC motor speed by changing input voltage and frequency. It is a type of motor controller that drives electric motor. It changes the frequency in order to change the speed of the motor, which is measured in rotation per minute (RPM) as frequency is directly related to the RPM. It consists of controlling circuit, rectifiers, inverters, and intermediate DC link. They are designed in various types with DC-AC and AC-AC topologies, with medium voltage or low voltage. According to the application, a suitable type of variable frequency drive is selected.
Based on type, the AC drives segment is likely to have a huge demand as it provides more advantages such as increased energy savings and reduced levels of noise and vibrations. They are principally utilized for variable torque application in industries such as oil & gas, mining, etc. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to increasing demand for energy optimization, supportive government regulations and policies, and rising focus on developing the manufacturing sector.
Some of the key players profiled in the Variable Frequency Drives Market include ABB, Crompton Greaves, Danfoss, Eaton, Fuji, Hitachi, NIDEC, Rockwell, Schneider Electric, Siemens, TMEIC, WEG SA and Yaskawa.
• Medium Voltage (> 690 V)
• Low Voltage (Up to 690 V)
• Servo Drives
• DC Drives
• AC Drives
Power Ranges Covered:
• High Power Drives
• Low Power Drives
• Medium Power Drives
• Micro Power Drives
• Heating, Ventilation, and Air Conditioning (HVAC)
• Other Applications
End Users Covered:
• Chemical Processing
• Energy and Power
• Food & Beverages
• Mining & Metals
• Oil & Gas
• Power Generation
• Pulp & Paper
• Water and Wastewater Treatment
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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