The Report Variable Frequency Drive (VFD) Market Size, Share & Trends Analysis Report
By Product (AC, DC, Servo), By Power Range (Micro, Low, Medium, High), By
Application (Pumps, HVAC, Conveyers), By End-Use, And Segment Forecasts, 2018 -
2025
The global variable frequency drive (VFD) market size is expected to reach USD
33.10 billion by 2025, according to a study conducted by Grand View Research, Inc., posting a CAGR of 6.7%
during the forecast period. Growing awareness and demand for energy efficiency,
favorable government norms and regulations, and rising technological
advancements are likely to provide a fillip to the market. Integration of VFDs
with electric drives enable end-users to control the speed and torque of
drives. It thereby, helps in increasing their operating efficiency and
concurrently reducing the energy consumption.
A large number of VFD
manufacturers such as ABB, Ltd., Danfoss Global, Siemens AG, and Schneider
Electric SE are developing differentiated products on the basis of
functionalities, along with integrated sensors, to maintain their strong
foothold in this price sensitive arena. Asia Pacific is projected to dominate
the market during the forecast period due to improving economic conditions and
rapid industrialization. Additionally, increasing commercial activities are
augmenting the market in the region.
Stringent government
regulations mandating the use of energy efficient devices, along with
increasing energy prices, are also encouraging deployment of VFDs across
multiple market domains. Additionally, rising investments in promoting energy
efficiency are escalating the growth of the variable frequency drive market.
Access Research Report of Variable
Frequency Drive Market @ www.grandviewresearch.com/industry-analysis/variable-frequency-speed-drives-vfd-vsd-market
Further key findings from the study suggest:
· AC VFDs offer easy integration and low
maintenance cost. Therefore, the segment is expected to emerge as the leading
as well as the fastest growing segment over the forecast period
· Demand for VFDs is estimated to increase in
the pumps application segment owing to increasing penetration of these drives
in hydraulic operations across the oil & gas and wastewater industries.
· Latin America is anticipated to be the
fastest-growing region over the forecast period due to spiraling adoption of
VFDs across emerging industrial sectors in the region
· Some of the prominent industry players are
ABB, Ltd.; Siemens AG; Schneider Electric SE; Rockwell Automation; Inc.;
Danfoss Global; and WEG.
Grand View Research has
segmented the global variable frequency drive market based on product type,
power range, application, end-use, and region:
Variable Frequency Drive Product Type Outlook (Revenue,
USD Million, 2014 - 2025)
·
AC Drives
·
DC Drives
·
Servo Drives
Variable Frequency Drive Power Range Outlook (Revenue,
USD Million, 2014 - 2025)
·
Micro
·
Low
·
Medium
·
High
Variable Frequency Drive Application Outlook (Revenue,
USD Million, 2014 - 2025)
·
Pumps
·
Electric Fans
·
Conveyors
·
HVAC
·
Extruders
·
Others
Variable Frequency Drive End-Use Outlook (Revenue, USD
Million, 2014 - 2025)
·
Oil & Gas
·
Power Generation
·
Industrial
·
Infrastructure
·
Automotive
·
Food & Beverages
·
Others
Variable Frequency Drive Regional Outlook (Revenue, USD
Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
