Variable Frequencies Drives Market Scope
A Variable Frequency Drive (VFD) is a motor controller which drives an electric motor by changing the frequency and voltage supply. It is used to provide range of voltage and frequency for number of electric appliances and to the electric motor. It is also called as variable speed drive, adjustable frequency drive, adjustable speed drive, AC drive, inverter and microdrive. Variable frequency drive are solid-state regulators which are installed on the AC electric motors. It is also applicable for some DC electric motors to control its torque and speed. It helps to reduce the mechanical stress on the machines which eventually increases their shelf life. It is energy saving and improve performance. These Variable Frequency Drive (VFD) are broadly used in applications such as compressors, fans, conveyers and others. Variable frequency drives (VDF) are able to convert basic fixed frequency into variable frequency which help to enhance motor control. The use of variable frequency drives provide efficiency in power, cost savings and voltage flow control. Furthermore, VDF equipment is more reliable compared to the traditional mechanical approaches and the frequency variations are more useful in number of electrical appliances and end-user industries. Increasing need for energy efficiency and cost savings is anticipated to drive the growth of the market. In addition, rapid urbanization and industrialization in emerging economies such as China, India, Australia providing more opportunity for the market growth. Geographically, Asia pacific region is expected to grow with highest growth rate and able to gain high market share followed by North America and Europe. According to recent research of Enerdata 2019, China was the main contributor to the global power generation growth. In 2019, the power generation in China has been increased by 4.7 % compared to power generation in 2018.
The Variable Frequencies Drives market study is segmented by Type (Mechanical Drives, Electrical Drives and Fluid Drives), by Application (Electric Fans, HVAC, Pumps, Conveyors, Compressor, Centrifuges and Other) and major geographies with country level break-up.
There are various companies are operating in this industry and heavily conducting research on the characteristics of Variable frequency drive and how to reduce challenges such as high heating problems and less efficacy towards fluid pumping. There are various market players are entering in this industry to capture market growth opportunities. The market leaders are investing on organic and non-organic strategic growth initiatives to become dominant in this industry.
Eaton (United States), Hitachi, Ltd. (Japan), Siemens AG (Germany), WEG S.A (Brazil), ABB (Switzerland), General Electric (United States), Rockwell Automation, Inc. (United States), Honeywell International Inc. (United States), Mitsubishi Electric (Japan), Danfoss (Denmark), Nidec Motor Corporation (Japan) and VFD Solutions Inc.(Canada) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are LARSEN & TOUBRO LIMITED (India) and Fuji Electric Co., Ltd. (Japan).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Variable Frequencies Drives market by Type, Application and Region.
On the basis of geography, the market of Variable Frequencies Drives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In July 2019, Eaton has acquired Switchgear Solutions, Inc. (ISG), a specialty manufacturer of medium-voltage electrical equipment serving commercial and industrial markets in the North American. Owing to this acquisition, company is able to strengthen its product portfolio of medium-voltage based electrical appliances.
- Technological advancement and developments for optimization of voltage
- Rising urbanization and industrialization leads to infrastructural growth in emerging economies
- Raised demand for electricity across the globe and electrical appliances
- Inclination towards optimization process help to accelerate the Market growth
- Advanced and modern networking and diagnostic capabilities of variable frequency drive providing opportunity to increase productivity in power generation, mining industries
- High investment cost
- Lack of skilled and trained labour
- Complexity due to heating problems owing to high power supply
- Low efficacy and efficiency towards for fluid pumping
- Growing concern regarding cybersecurity
Key Target AudienceVenture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Electrical equipment Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
Frequently asked questions:1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Variable Frequencies Drives Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2025.