A variable frequency drive is responsible for motor controlling by varying the frequency and voltage which is supplied to the motor. The system can control the speed of the motor and torque by varying the input frequency of the motor. There are various application in which VFD’s are used such as small appliances, mine mill and compressors. The drive consists of three sub-system that are AC motor, main drive assembly and interface. The major drivers of variable frequency drive market are growing urbanization and industrialization in developing countries, growing demand for better utilization of energy, increasing activities in construction, power transmission and reduce cost of production of VFD’s.
Asia-Pacific region is expected to dominate the Global Variable Frequency Drive Market during the forecast period due to the largest market share in infrastructure and industrial sector in these region. Energy industries such as oil & gas, metals and mining have adopted the use of VFD’s in order to restrict the energy consumption and to reduce the emission of CO2. In Middle East and Africa, the growth of these market has been due to the rise of construction industry. In Europe, due to the rise in automotive industry there is an increasing use of VFD’s, due to which the demand for the use of VFD’s have increased.
The factor which drives the growth of variable frequency drive market is increase in urbanization and industrialization in developing countries. Other factors driving the growth of these market are regulation on efficiency of energy, growing trends in industrial automation, efficient utilization of energy and increase in construction activities, power transmission & distribution. The utilization of VFDs, also results in the reduction of production cost, ultimately leading to the growth of these market. The growth of VFDs is also attributed by the increase of infrastructure activities such as construction of hospitals and educational institutions. The reduction in the operating cost of energy industry also results in the growth of this market.
Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/2440
The key players of global variable frequency drive market are
- ABB Ltd. (Switzerland),
- Siemens AG (Germany),
- Rockwell Automation, Inc. (U.S.),
- WEG (Brazil),
- Yaskawa Electric Corporation (Japan),
- Eaton Corporation Plc. (Ireland),
- General Electric (U.S.),
- Emerson Electric Co. (U.S.),
- Hitachi, Ltd. (Japan),
- Mitsubishi Electric Corporation (Japan).
Market Research Analysis
The market is highly based on applications. Pumps segment is expected to dominate the variable frequency drive market due to the rapid increase in the industrial activities and growing construction sector. The growing oil & gas production in U.S. and Middle East have also resulted in the growth of these markets. In Asia-Pacific, there has been increase in demand for the use of pumps, due to which the market is expected to grow during the forecast period.
The factors contributing to the growth of variable frequency drive market are increase in urbanization and industrialization in developing countries, efficient utilization of energy, increase in construction activities, power transmission and reduction in the cost of production if VFD’s.
The restraint in the growth of global variable frequency drive market is the decrease in Greenfield investment of VFD which will lead to decrease in the profit.
Scope of the Report
This study provides an overview of the global variable frequency drive market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global variable frequency drive market by its type, by application, by end-user and by region.
- Oil & Gas
- Power Generation
- North America
Get Complete Report @ https://www.marketresearchfuture.com/reports/variable-frequency-drive-market-2440
List of Tables
Table 1 Global Variable Frequency Drive Market, By Type
Table 2 Global Variable Frequency Drive Market, By Application
Table 3 Global Variable Frequency Drive Market, By End-User
Table 4 Global Variable Frequency Drive Market, By Regions
Table 5 North America Variable Frequency Drive Market, By Type
Table 6 North America Variable Frequency Drive Market, By Application
Table 7 North America Variable Frequency Drive Market, By End-User
Table 8 U.S. Variable Frequency Drive Market, By Type
Table 9 U.S. Variable Frequency Drive Market, By Application
Table 10 U.S. Variable Frequency Drive Market, By End-User
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Company Name: Market Research Future
Contact Person: Akash Anand
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune –