The Global Variable Frequency Drive market is expected to grow from $18.68 billion in 2016 to reach $28.21 billion by 2023 with a CAGR of 6.0%.
According to Publisher growing demand for energy efficiency, government regulations and rise in demand for industrialization and urbanization are some factors expected to witness lucrative growth.
Conversely, declining investments in Greenfield will reflect the market strength during the forecast period. Moreover, the market has tremendous growth opportunity like growing prospect in industrial internet of things (IIoT) and replacement sector.
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By power range, micro power drive segment commanded the largest market share due to their wide applications in extruders, compressors, fans and others. Asia Pacific is anticipated to dominate the global market attributed to extensive usage of VFS's in infrastructural and industrial activities.
Some of the key players profiled in this market includes Hitachi, Ltd., Fuji Electric Co., Rockwell Automation, Mitsubishi Heavy Industries, Ltd., Schneider Electric SE, Yaskawa Electric Corp, WEG SA, Toshiba, Siemens AG, Crompton Greaves, ABB Ltd, Danfoss, Eaton Corporation Plc, Emerson Electric Co., and General Electric .
-Low Voltage Variable Frequency Drives
-Medium Voltage Variable Frequency Drives
End Users Covered:
-Oil & Gas
-Mining & Metals
-Pulp & Papers
-Other End Users
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-Direct Current (DC) Variable Frequency Drives
-Servo Variable Frequency Drives
-Alternative Current (AC) Variable Frequency Drives
Power Ranges Covered:
-High Power Drives
-Medium Power Drives
-Low Power Drives
-Micro Power Drives
- Rest of Europe
- New Zealand
- Rest of Asia Pacific
-Rest of the World
- Middle East
- South Africa
12.1 Hitachi, Ltd.
12.2 Mitsubishi Heavy Industries, Ltd.
12.3 Rockwell Automation
12.4 Schneider Electric SE
12.5 Yaskawa Electric Corp
12.6 WEG SA
12.8 Siemens AG
12.9 Crompton Greaves
12.10 ABB Ltd
12.12 Eaton Corporation Plc
12.13 Emerson Electric Co.
12.14 Fuji Electric Co.
12.15 General Electric
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