The global variable frequency drive (VFD) market is projected to grow at a CAGR of 5.94% from 2016 to 2021, to reach a market size of USD 24.8 Billion by 2021. This growth is attributed to the increasing infrastructural activities including construction of hospitals, and educational institutions, strict regulations related to energy efficiency, reduction of life cycle cost and optimized energy use.
Access Brochure of Variable Frequency Drive Market spread across 177 Pages, Profiling 16 Companies and Supported with 76 Tables and 54 Figures is now available at www.rnrmarketresearch.com/contacts…ample?rname=71797 .
The demand from industries such as utilities, petrochemicals, water & wastewater, metals & mining, and cement, would drive the low voltage drives market. The low voltage drives are generally employed in applications such as pumps, compressors, conveyors, crushers & mills, fans, and kiln applications.
The target audience of this report includes:
- VFD manufacturing companies
- State and national regulatory authorities
- Builders and contractors
- Process and manufacturing plants
- Power distribution utilities
- Government and industry associations
- State- or government-owned corporations
- Investment and consulting firms
Asia-Pacific is currently the largest market for variable frequency drive market, closely followed by Europe.
The Asian market is primarily driven by countries such as China, India, Japan, Australia, Indonesia, and South Korea. China is expected to dominate the variable frequency drives market, followed by Japan and India.
Urbanization and industrialization will drive the Asia-Pacific market during the forecast period.
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The variable frequency drive market has been segmented based on power range into micro power drive (UP TO 5 Kw), low power drive (6-40 kW), medium power drive (41-200 kW) and high power drive (Above 200 kW). The micro power drive segment accounted for the largest market share in 2015.
These VFDs are increasingly popular due to their wide application in fans, pumps, compressors, conveyors, extruders, among others.
1 Attractive Market Opportunities for Variable Frequency Drives
2 Variable Frequency Drives Market Share By Voltage, 2016-2021
3 AC Drive Segment is Estimated to Dominate Variable Frequency Drives Market By 2021
4 Asia-Pacific is Expected to Grow at the Fastest Pace During the Forecast Period
5 Low Power Range Segment is Expected to Dominate the Variable Frequency Drives Market
6 Compressors By Application Segment is Expected to Dominate the Variale Frequency Drives Market
The leading players in the variable frequency market include ABB Ltd (Switzerland), Siemens AG (Germany), Schneider Electric (France), Danfoss (Denmark), Rockwell Automation, Inc. (U.S.), and WEG (Brazil).
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the variable frequency drive market; high-growth regions; and market drivers, restraints, and opportunities.
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