July 21, 2020

Variable Frequency Drive Market Global Insights and Trends, Forecasts to 2023

Market Research Future published a research report on “Variable Frequency Drive Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Synopsis

The data analysts at Market Research Future Reports (MRFR) have revealed that the global variable frequency drive market is projected to record a CAGR of 6.3% during the assessment period. The increasing demand for energy-efficient equipment is estimated to drive the global variable frequency drive market 2020. Besides, the growing infrastructure and buildings have resulted in a rise of appliances which will propel the market. Also, the government of various countries are encouraging the usage of energy-efficient equipment which are technically advanced and are low-cost.

Furthermore, the benefits of VFD such as low motor starting current, energy savings, easy installations, managing the equipment at several speeds, operations at high power factor, and others are likely to propel the market. Moreover, the increasing industrialization and the rising construction of infrastructure is predicted to play a pivotal role in market expansion.

However, the spread of COVID-19 has resulted in a significant change in global market dynamics. Precise research is being conducted on the aftermath of coronavirus on the global Variable Frequency Drive Market. Various regions have been adversely affected due to a temporary shut-down of the offices. We will provide an impact analysis report on COVID-19.

Competitive Analysis:

The dominant contenders in the variable frequency drive market are Siemens AG (Germany), Rockwell Automation, Inc. (U.S.), ABB Ltd. (Switzerland), Schneider Electric (U.S.), WEG (Brazil), Eaton Corporation Plc. (Ireland), Yaskawa Electric Corporation (Japan), General Electric (U.S.), Hitachi, Ltd. (Japan), Emerson Electric Co. (U.S.), Mitsubishi Electric Corporation (Japan), and Honeywell International (U.S) are among others.

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Market Segmentation

The worldwide variable frequency drive market can be classified on the basis of application, type, end-user, and region.

On the basis of application, the worldwide variable frequency drive market can be classified into fans, pumps, extruders, compressors, and others.

On the basis of type, the worldwide variable frequency drive market can be classified into D.C., A.C., and servo.

On the basis of end-user, the worldwide variable frequency drive market can be classified into infrastructure, oil & gas, power generation, industrial, and others.

On the basis of region, the worldwide variable frequency drive market can be classified into Europe, North America, Asia-Pacific, and the Middle East & Africa.

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Regional Analysis:

The VFD market is anticipated to develop at a remarkable pace through the forecast period due to automation in the power industry and growing infrastructure sector. The Asia Pacific region is likely to control the market for the variable frequency drive. South Korea, China, Japan, India, and Indonesia are the most rapidly rising nations, which are the chief markets for industrial and infrastructure sectors. Industries such as oil & gas, metals, and mining are implementing the drives to lessen the energy consumption and to control the CO2 emission. The Middle East region will trail the Asia Pacific region in the market for variable frequency drive due to the mounting construction industry. In the European region, the developing automotive sector is anticipated to lead the market’s development.

Table of Content

  1. Global Variable Frequency Drive Market Overview
  2. Manufacturers Profiles
  3. Global Variable Frequency Drive Sales, Revenue, Market Share and Competition by Manufacturer
  4. Global Variable Frequency Drive Market Analysis by Regions
  5. Global Market Segment by Type
  6. Global Variable Frequency Drive Market Segment by Application
  7. Variable Frequency Drive Market Forecast (2018-2023)
  8. Sales Channel, Distributors, Traders and Dealers
  9. Appendix

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