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.
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