Variable Frequency Drives Market Overview 2014 – 2020
Estimates the variable frequency drives market to be valued at US$24,703.4 million by the end of 2020. The market was worth US$15,489.0 million in 2013. A variable frequency drive is a type of motor controller that drives an electric motor by varying the voltage and speed supplied to the electric motor. According to the report, increasing use of induction motors in a wide range of applications is expected to boost the demand for variable frequency drives. The need for reliable functioning of motor coupled with reduced energy consumption will propel the global variable frequency drives market. However, the report points out that the adverse impact of implementation costs of variable frequency drive will restrain the market growth. Various legislative directives for efficient motors will open new opportunities for the growth of the variable frequency drives market across the globe.
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On the basis of voltage range segments, the global variable frequency drives market has been divided into low voltage and medium voltage. Low voltage frequency drives dominates the overall market owing to the rapid growth in the manufacturing and infrastructure sectors. Low voltage frequency drives offer improved process control performance and energy efficiency with minimal maintenance requirements. The report studies the various types of variable frequency drives such as DC variable frequency drives, AC variable frequency drives, and servo variable frequency drives. Though AC and DC variable frequency drives have substantial demand in the present market, the report points out that the increased usage of servo variable frequency drives to monitor and control robotic applications in industrial processes will result in high demand for servo variable frequency drives. Low power AC variable frequency drives will be in demand from petrochemical and processing industries.
On the basis of the end user segments, the report categorizes the global variable frequency drives market into sectors such as chemical processing, manufacturing, oil and gas, infrastructure development, power generation, automotive, and others. In 2013, manufacturing sector dominated the market and is expected to continue as the largest end user segment by 2020, even though the slowing economy in South America and Western Europe has adversely affected the manufacturing sector in the regions.The report studies the global variable frequency drives market in four key regions: Europe, Americas, Asia Pacific, and Middle East and Africa. In 2013, Asia Pacific dominated the overall market and is expected to continue as the largest market for variable frequency drives by 2020, owing to the rapid development of chemical processing and manufacturing industries in countries such as China and India. The report profiles some of the key players in the global variable frequency drives market such as Crompton Greaves, ABB Ltd., Danfoss VLT, and Emerson Industrial Automation.
The research study has been segmented as below:
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Global Variable Frequency Drive (VFD) Market: Voltage Range Analysis
- Low Voltage
- Medium Voltage
Global Variable Frequency Drive (VFD) Market: Type Analysis
Global Variable Frequency Drive (VFD) Market: End-Use Application Analysis
- Chemical Processing
- Infrastructure Development
- Oil and Gas
- Power Generation
Global Variable Frequency Drive (VFD) Market: Regional Analysis
- North America
- South America
- Rest of Asia Pacific
Middle East and Africa (MEA)
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