A recent report published by Infinium Global Research on variable
frequency drives market provides in-depth analysis of segments and sub-segments
in the global as well as regional variable frequency drives market. The study
also highlights the impact of drivers, restraints, and macro indicators on the
global and regional variable frequency drives market over the short term as
well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of global variable frequency drives market.
According to the report, the global variable frequency drives market is
projected to grow at a CAGR of 7.10% over the forecast period of 2019-2025.
The latest generation of variable frequency drives (VFD) offers
increased energy efficiency, advanced functionality, improved load control, and
regenerative energy capability. Variable frequency drives are finding
increasing applications in pumps, fans, compressors and the trend to increase
the automation of factories. Recently, VFD comes equipped with sensors that
gauge significant parameters, such as temperature and pressure to drive optimal
performance. VFD powered motors require starting current that lower energy
variations also reduce the possibility of electric equipment failure. It is
used in applications ranging from small appliances to large compressors.
The Increase in urbanization and industrialization in emerging
economies is the major driving factor of the VFD market. Further, the factors
such as increasing investments in energy efficiency, rise in trend of
industrial automation, and reduction in operating costs of any intensive
industry fueling the growth of the VFD market. The VFD saves energy and improve
system efficiency and it converts power in hybridization applications. It also
improves the working environment and to lower noise levels, for example from
fans and pumps. Additionally, the growing use of induction motors and rules on
energy efficiency are also driving the growth of the market. However, the high
cost of deployment and heating problem associated with VFD hampering the growth
of the market. Moreover, increasing investments in energy efficiency are
anticipated to provide growth opportunities the market players.
Geographically, Asia-Pacific has a large market share of the VFD
market. The factors such as prominent emerging economies, increasing government
investment in energy efficient devices drive the market growth in this region.
The healthy growth of the chemical and processing industry is also boosting the
demand for variable frequency drives in the Asia-Pacific region. The
investments made by the government, along with laws under EU regulations are
boosting the market growth in the Europe region. The countries in the Middle
East and Africa have an enormous potential to attract market participants to
invest in the region in the future.
The report on global variable frequency drives market covers
segments such as voltage, type, applications, and end-user. On the basis of
voltage, the sub-markets include low voltage, and medium voltage. On the basis
of type, the sub-markets include AC drives, DC drives, and servo drives. On the
basis of applications, the sub-markets include pumps, fans, compressors,
conveyors, and other applications. On the basis of end-user, the sub-markets
include oil & gas, industrial, infrastructure, and power generation.
The report provides profiles of the companies in the market such
as Crompton Greaves Ltd., Schneider Electric Industries S.A.S., Eaton
Corporation, Siemens AG, Emerson Industrial Automation, Mitsubishi Electric
Corporation and Vacon PLC., ABB Ltd., Danfoss VLT Drives, Fuji Electric Co.
Ltd., and General Electric Company.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of variable
frequency drives market. Moreover, the study highlights current market trends
and provides forecast from 2019-2025. We also have highlighted future trends in
the market that will affect the demand during the forecast period. Moreover,
the competitive analysis given in each regional market brings an insight into
the market share of the leading players.