Global variable frequency drive market is set to witness a substantial CAGR of 5.64% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rise of IoT in variable frequency drive and aging power infrastructure are the factor for the growth of this market.
This market report makes available the market data with respect to general market conditions, market improvement, market scenarios, development, cost and profit of the specified market regions, position and comparative pricing between major players. In plentiful of ways, this variable frequency drive market research report is essential for business growth and to succeed in the market. In addition, the report aids businesses to get acquainted with the level of the marketing problems, reasons for crash of particular product already existing in the market, and prospective market for a new product to be launched.
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Assuming competitive analysis as the major aspect of this variable frequency drive market research report, many points are undertaken here including strategic profiling of the top market players, analysis of their core competencies, and represent a competitive landscape for the semiconductors&electronics industry. Along with competitive analysis of the key players, this market report also gives out complete and distinctive analysis of the market drivers and restraints, detailed analysis of the market segmentation, key developments in the market and details of research methodology. Utilization of excellent practice models and method of research employed in this variable frequency drive report unearths the best opportunities to be successful in the market.
Global variable frequency drive market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of variable frequency drive market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global variable frequency drive market are ABB, Siemens, Schneider Electric, Rockwell Automation, Inc., cgglobal.com., Eaton., Fuji Electric Co., Ltd., Hitachi Hi-Rel Power Electronics Pvt. Ltd., Nidec Motor Corporation, TMEIC, WEG., Yaskawa America, Inc., Danfoss, veikong, VFD Solutions Inc., Amtech, LARSEN & TOUBRO LIMITED, Franklin Control Systems., Arrow Speed Controls., Mitsubishi Electric Corporation, and others.
Market Definition: Global Variable Frequency Drive Market
Variable frequency drive is a kind of a motor controller whose main function is to drive the electric motor by managing the voltage and frequency which is provided to the electric motor. Ac drives, Dc drives and servo drives are some of the common types of the variable frequency drive. They are mainly used so that the mechanical stress on the machines can be reduces which will eventually increases their shelf life. These VFD are widely used in applications such as fans, compressors, conveyers and others. The benefit of the VFD is that it improve the performance of the machine and is energy saving.
Rising demand of VFD from various end user will drive market growth
Increasing need for energy efficiency will also propel growth of the market
Growing prevalence for process optimization will also accelerate the market growth
Increasing urbanization and industrialization has led to increasing demand for infrastructure; which is also driving the market growth
Technological advancement and development will also drive the market growth
Increasing concern associated with cybersecurity will restrain market growth
High investment cost will also hamper the growth of this market
Lack of skilled and trained labour will also hindering the market growth
Complexity associated with the technical irregularities and heating problem will also restrict the growth of this market
Segmentation: Global Variable Frequency Drive Market
Low Voltage (Up to 690 V)
Medium Voltage (> 690 V)
By Power Range
Micro Power Drives
Low Power Drives
Medium Power Drives
High Power Drives
By End- User
Middle East and Africa
Key Developments in the Market:
In July 2018, Unitronics announced the launch of their new range of Variable Frequency Drives so that they can meet the rising demand of the customer for the better motion and motor control solutions. The main aim of the launch is to help the customer so that they can get PLCs, HMI and VFD all by a single supplier
In April 2016, Schneider Electric announced the launch of their new Altivar 320 Machine Drive which is specially designed so that it can provide simplicity, reliability and other features to the customers. This new device has the ability to provide better performance at less time with lower machine costs. This Altivar 320 meet the demand of machine from 0.25Hp to 20Hp
Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved
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