Global Variable Frequency Drive Market, By Type (AC Drives, DC Drives and Servo Drives), Voltage (Low Voltage and Medium Voltage), Application (Pumps, Fans, Compressors, Conveyers and Others), Power Range (Micro Power Drives, Low Power Drives, Medium Power Drives and High Power Drives), End User (Industrial, Infrastructure, Power Generation, Oil and Gas and Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Variable Frequency Drive Market
Data Bridge Market Research analyses that the variable frequency drive market will exhibit a CAGR of around 4.95% for the forecast period of 2021-2028. Ring application of variable frequency drives by the various end user verticals such as industrial, infrastructure, power generation, oil and gas and others, increased focus of technological advancements involved in the manufacturing of variable frequency drives and rising adoption and incorporation of internet of things technology with variable frequency drives are the major factors attributable to the growth of variable frequency drive market.
The variable frequency drives are the controllers of the regulators which are responsible for driving the motors. This is done by varying the voltage and frequency which is transmitted through an electric motor. The major role of variable frequency drives is to reduce the mechanical stress on machines, improve the operational efficiency and increase the shelf life of machines.
Rising demand for variable frequency drives by the various end user verticals coupled with growth and expansion of these verticals especially in the developing economies is one of the major factors fostering the growth of variable frequency drive market. Rising expenditure for research and development activities undertaken by various manufacturers and authorities coupled with increased focus on technological advancements and development are some other indirect variable frequency drive market growth determinants. Rising urbanization, industrialization and growing prevalence for process optimization will further generate lucrative variable frequency drive market growth opportunities.
However, rising data privacy and security concerns coupled with rising cyber-attack cases will act as variable frequency drive market growth restraint. Concerns regarding the complexities associated with the technical irregularities and heating problem will further derail the variable frequency drive market growth rate. Stagnant growth of oil and gas industry and decline in exploration and production activities will further pose challenges for the market growth.
This variable frequency drive market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on variable frequency drive market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Variable Frequency Drive Market Scope and Market Size
The variable frequency drive market is segmented on the basis of type, voltage, application, power range and end users. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the variable frequency drive market is segmented into AC drives, DC drives and servo drives.
- On the basis of voltage, the variable frequency drive market is segmented into low voltage and medium voltage.
- On the basis of application, the variable frequency drive market is segmented into pumps, fans, compressors and others.
- On the basis of power range, the variable frequency drive market is segmented into micro power drives, low power drives, medium power drives and high power drives.
- On the basis of end users, the variable frequency drive market is segmented into industrial, infrastructure, power generation, oil and gas and others.
Variable Frequency Drive Market Country Level Analysis
The variable frequency drive market is analysed and market size insights and trends are provided by country, type, voltage, application, power range and end users as referenced above.
The countries covered in the variable frequency drive market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific region dominates the variable frequency drive and will continue to flourish its trend of dominance during the forecast period. Supportive government regulations to enhance energy efficiency in various industries are one of the major factors fostering the market growth rate. Rising adoption of automation by the manufacturing sector will also propel the market growth rate.
The country section of the variable frequency drive market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Variable Frequency Drive Market Share Analysis
The variable frequency drive market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to variable frequency drive market.
The major players covered in the variable frequency drive market report are ABB, Siemens, Schneider Electric, Hitachi Hi-Rel Power Electronics Private Limited, Rockwell Automation, Inc., cgglobal.com., Eaton., Fuji Electric Co., Ltd., Franklin Electric Co., Inc., Nidec Motor Corporation, TMEIC, WEG., Yaskawa America, Inc., Danfoss, veikong, VFD Solutions Inc., Amtech, LARSEN & TOUBRO LIMITED, Arrow Speed Controls. and Mitsubishi Electric Corporation among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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