The global VariableFrequency 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.
Full Research Report On Variable Frequency Drive (VFD) Market Analysis:
www.grandviewresearch.com/industry-analysis/variable-frequency-speed-drives-vfd-vsd-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.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/electronic-devices
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
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
·
Asia Pacific
o
China
o
Japan
o
India
o
South Korea
·
Latin America
o
Brazil
o
Mexico
·
MEA
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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.
For more information: www.grandviewresearch.com/
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