The ability of variable frequency drive to decrease the energy cost and consumption of energy is anticipated to surge the global variable frequency drive market growth during the forecast period. According to an upcoming report by Fortune Business Insights, titled, “Variable Frequency Drive Market Size, Share and Global Trend By Type (AC Drive, DC Drive, Servo Drive), By Power Range (MicroPower, Low Power, Medium Power, High Power), By Application (Pumps, Electric Fans, Conveyers, HVAC, Others), By End User (Food & Beverages, Oil & Gas, Power Generation, Infrastructure, Automotive, Others), and Geography Forecast till 2028,” variable frequency drive is very helpful in the manufacturing sector for operating the motor efficiently and reducing the cost of maintenance. It helps in increasing production. All these factors are expected to propel the global variable frequency drive market in the coming years.
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Fortune Business Insights profiles some of the renowned market players operating in the global variable frequency drive market. They are:
- General Electric Company
- ABB Ltd.
- Invertek Drives
- Eaton Corporation
- Schneider Electric
- Hitachi Ltd.
- Rockwell Automation, Inc.
- Yaskawa Electric Corporation
- Siemens AG
- WEG Industries
Key Industry Developments
- In May 2019, Invertek Drives Ltd. has appointed Electro Pneumatic Solutions as sales partner for Serbia, Kosovo, Macedonia and Montenegro. The company just completed manufacturing and distribution centre at its headquarter in Welshpool, Powys, UK which help to increase the production to more than 500000 drives per year.
- In Oct 2018, ABB Ltd. has released the new variable frequency drive, which is geared for the water and waste water industry. The drive increase system performance, simplifies commissioning and operation and optimizes wire to water/air efficiency. The device also improves flow and reliability in municipal pumping and aeration application.
- In Oct 2018, Invertek Drives Ltd. has launched a new coolvert variable frequency drive which is one of the smallest in its class, providing OEMs with opportunities to reduce panel space and lower machine cost.
- Key Market Driver – Increase the demand for efficiency and productivity devices
- Key Market Restraint – Highly expensive
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1. By Type
- AC Drive
- DC Drive
- Servo Drive
2. By Power Range
- Micro Power
- Low Power
- Medium Power
- High Power
3. By Application
- Electric Fans
5. By End User
- Food & Beverages
- Oil & Gas
- Power generation
6. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Spain, Italy, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
The report analyzes the global variable frequency drive market opportunities for and competitive landscape for the stakeholders as well as the market leaders. Moreover, it provides elaborate information about the key market developments, ongoing trends, growth drivers, and restraints. It also strategically analyzes the global market on the bases of contributions, future expansions, and individual growth trends.
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Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.
Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
The increased spending on oil and gas across the world is another factor likely to drive the Market. Rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fueling demand for energy and which is expected to drive the Market.
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive competition and maintain their stronghold.
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Table of Content
5. Global Variable Frequency Drive (VFD) Market Analysis, Insights and Forecast, 2015-2028
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Type (USD Billion)
5.2.1. AC Drive
5.2.2. DC Drive
5.2.3. Servo Drive
5.3. Market Analysis, Insights and Forecast – By Power Range (USD Billion)
5.4. Market Analysis, Insights and Forecast – By Application (USD Billion)
5.4.4. Electric Fan
5.5. Market Analysis, Insights and Forecast – By End-User (USD Billion)
5.5.1. Food & Beverage
5.5.2. Oil & Gas
5.5.3. Power Generation
5.6. Market Analysis, Insights and Forecast – By Region (USD Billion)
5.6.1. North America
5.6.3. Asia Pacific
5.6.4. Middle East & Africa
5.6.5. Latin America
6. North America Variable Frequency Drive (VFD) Market Analysis, Insights and Forecast, 2015-2028
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Type (USD Billion)
6.2.1. AC Drive
6.2.2. DC Drive
6.2.3. Servo Drive
6.3. Market Analysis, Insights and Forecast – By Power Range (USD Billion)
6.4. Market Analysis, Insights and Forecast – By Application (USD Billion)
6.4.4. Electric Fan
6.5. Market Analysis, Insights and Forecast – By End-User (USD Billion)
6.5.1. Food & Beverage
6.5.2. Oil & Gas
6.5.3. Power Generation
6.6. Market Analysis, Insights and Forecast – By Country (USD Billion)
7. Europe Variable Frequency Drive (VFD) Market Analysis, Insights and Forecast, 2015-2028
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Type (USD Billion)
7.2.1. AC Drive
7.2.2. DC Drive
7.2.3. Servo Drive
7.3. Market Analysis, Insights and Forecast – By Power Range (USD Billion)
7.4. Market Analysis, Insights and Forecast – By Application (USD Billion)
7.4.4. Electric Fan
7.5. Market Analysis, Insights and Forecast – By End-User (USD Billion)
7.5.1. Food & Beverage
7.5.2. Oil & Gas
7.5.3. Power Generation
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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