Increase in demand, price of the electricity, enlarging usage of variable frequency drives and following the best energy efficiency standards in manufacturing VFD are the major factors influencing the market growth.
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Global Variable Frequency Drives (VFD) market is accounted for $18.12 billion in 2015 and is expected to reach $34.36 billion by 2022 growing at a CAGR of 9.5% during the forecast period.
Whereas lack of investments on VFD is lagging back the market growth. As it has huge potential to replace, it provides ample of opportunities for the market to grow.
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However, healthy competition among the players in the market is challenge for market.
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Pumps in variable frequency drives (VFD) application market segment holds the largest share and has highest CAGR during the forecast period because of rapid industrialisation, oil extraction and considerable growth of construction in developing countries. Asia pacific is the largest market for variable frequency drives because of rapid industrialization, but Africa and Middle East in rest of the world region had recorded fastest growth during forecast period.
Some of the key players in the market are Hitachi Ltd., Rockwell Automation Inc., American Electric Technologies Inc. (AETI), Fuji Electric Co. Ltd., ABB Ltd., GE Energy Power Conversion, Schneider Electric Co., Toshiba International Corporation, Mitsubishi Electric Corporation, Crompton Greaves Limited, Siemens AG, Honeywell International Inc., Johnson Controls Inc., Emerson Electric Co., Eaton Corporation Plc., and Danfoss.
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• Other Applications
Drive Types Covered:
• DC Drive
• Servo Drive
• AC Drive
Voltage Ranges Covered:
• Medium Voltage (>691 V)
• Low Voltage (0–690 V)
• Drive Controller
• AC Motor
• Operator Interface
Power Range covered:
• High Power Drives (>200 kW)
• Medium Power Drives (41 kW–200 kW)
• Low Power Drives (6 kW–40 kW)
• Micro Power Drives (0–5 kW)
Types of VFD covered:
• Cycloconverter or matrix converter (MC)
• Voltage-source inverter (VSI) Drive
• Variable Torque Drive
• Load commutated inverter (LCI) Drive
• Current-source inverter (CSI) Drive
• Constant Power Drive
• Six-step inverter Drive
• Doubly fed slip recovery system
• Constant Torque Drive
End Users Covered:
• Chemical processing
• Oil & Gas
• Infrastructure Development
• Pulp & Papers
• Mining & Metals
• Power Generation
• Food Processing
• Other End Users
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- 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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Major Points Contained in Table of content
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Variable Frequency Drives (VFD) Market, By Application
5.8 Other Applications
6 Global Variable Frequency Drives (VFD) Market, By Drive Type
6.2 DC Drive
6.3 Servo Drive
6.4 AC Drive
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