As per this study the global variable frequency drive market was valued USD XX.X MN (by revenue) in 2019 and is anticipated to reach USD XX.X MN by 2026 with a CAGR of X.X%.
By Voltage Rating
Variable frequency drive refers to a type of motor controller that drives the electric motor by adjusting frequency and voltage. It is alternatively known as adjustable-frequency drive (AFD), variable-voltage/variable-frequency (VVVF) drive, variable speed drive, AC drive, microdrive or inverter drive. Functionally, this motor controller converts the fixed frequency and voltage of the input power into the variable frequency and output voltage. Advantages of variable frequency drive better control process, reduce maintenance cost, controls torque & speed of the process, save energy and extend machine shelf life.
The market is witnessing growth at a remarkable rate owing to ongoing industrialization along with increase in investment for infrastructural development. Also, rising trend of industrial automation with growing demand for energy efficient devices with low operational cost are the factors fueling the market growth. Favorable governmental policies for adaptation of sustainable system and clean energy are further fostering the market growth. However, high initial investment and lack of skilled labor is likely to hamper the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of variable frequency drive.
The broad variable frequency drive market has been sub-grouped into current rating, voltage rating, product and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Current Rating
- Low Voltage
- Medium Voltage
- HVAC System
- Oil & Gas
- Power Generation
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for variable frequency drive in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Variable Frequency Drive Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the variable frequency drive market include ABB, American Electric Technologies, Emerson Industrial Automation, General Electric, Hitachi, Honeywell International, Johnson Controls, Kongsberg Maritime, Rockwell Automation and Siemens. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.