Global Variable Frequency Drive Market (2021 to 2026) – by Type, End-users, Application and Geography – ResearchAndMarkets.com | Financial Buzz

Global Variable Frequency Drive Market (2021 to 2026) – by Type, End-users, Application and Geography – ResearchAndMarkets.com

The “Variable Frequency Drive Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.

The global variable frequency drive market is expected to grow at a compound annual growth rate of 4.65% over the forecast period to reach a market size of US$24.410 billion in 2026 from US$17.758 billion in 2019.

In segmentation of variable frequency drive market by type, the market is segmented into AC, DC, and servo drives, among them AC drives is projected to have the largest market share in the forecast period as it can be used in wide range of applications because of its adjustable characteristic which adjusts the power of the appliances according to the need. This in turn caters the demand of the variable frequency drive in the forecasted period. Servo motors and drives growth is restrained by the limitations of these goods, such as the high cost which prevents the investment in this market.

Apart from it, the lack of the skilled labor is the major constraint in the development and growth of the servo market. While under segmentation by power voltage, the market is segmented into low, medium, and high voltage drives. Medium segment will have the significant positive growth in the forecast period as it reduces the energy consumption and carbon dioxide emissions into the environment, hence, further increases the demand for the medium voltage drives. The market by application is segmented into compressors, conveyors, pumps, fans, and others. Among them, the compressors have the significant potential growth in the forecast period, because of the demand of energy efficiency increases the demand for the variable frequency drives in compressors to reduce the electrical stress and prevent damages. The major industries that are using the compressors are Oil & Gas, chemical, food & beverages, and building automation industries. The variable frequency drive market is one of the major markets that work as an interconnection for the other markets, that are, switchgear market, electric motor market, substation equipment market, control panel market, power quality equipment market, and HDVC Transmission market.

The market growth is driven by the increasing demand in various industries such as Oil & Gas, increasing government regulations for energy effective consumption with reducing the wastage of the power transmission, and increasing demand for the energy efficiency. Stagnant market growth in Oil & Gas Industry and fall in the production and research & development activities are adversely impacting the growth of the variable frequency drivers. As this market has the potential growth in the research and development sector, which will bring the innovative technology into the market, and that will be cater by the government. This brings some new opportunities for the companies, such as power infrastructure upgradation, improving Internet of Things to improvise the application and people can use it remotely without facing any issues. Though, this opportunity brings a challenge for the companies to compete with the gray market suppliers which are supplying at competitive prices, and hence, creating a hindrance for the potential companies

COVID-19 Impact

Pandemic has impacted the global variable frequency market quite adversely as it impacted the supply side of the market as the manufacturing sector is unable to produce the drives due to lockdowns in the countries. While lockdowns increased the demand for the energy consumption at commercial level and industrial level, though the energy consumption at home has increased significantly as people started working at home, and people have to do their tasks on their own, shops need to improvise as per the pandemic needs, and so on, these demands increase the potential opportunities for the companies to grow through research and development in the production activities, coming up with the new innovations in the technology and products for the consumers to cater their demand

Companies Mentioned

  • A.S. Automation & Controls
  • ABB
  • Anaheim Automation
  • Crompton Greaves Power and Industrial Solution
  • Danfoss
  • Delta Electronics
  • Eaton
  • Fuji Electric
  • General Electric
  • Hitachi
  • Rockwell Automation
  • Siemens
  • Techsuppen
  • TMEIC
  • WEG
  • Yaskawa

Key Topics Covered:

1. Introduction

1.1. Market Definition

1.2. Market Segmentation

2. Research Methodology

2.1. Research Data

2.2. Assumptions

3. Executive Summary

3.1. Research Highlights

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.4. Industry Value Chain Analysis

5. Global Variable Frequency Drive Market Analysis, By Type

5.1. Introduction

5.2. AC

5.3. DC

5.4. Servo

6. Global Variable Frequency Drive Market Analysis, By End-users

6.1. Introduction

6.2. Industrial

6.3. Infrastructure

6.4. Oil & Gas

6.5. Power generation

6.6. Others

7. Global Variable Frequency Drive Market Analysis, By Application

7.1. Introduction

7.2. Pumps

7.3. Fans

7.4. Compressors

7.5. Conveyors

7.6. Others

8. Global Variable Frequency Drive Market Analysis, by Geography

8.1. Introduction

8.2. North America

8.3. South America

8.4. Europe

8.5. The Middle East and Africa

8.6. Asia Pacific

9. Competitive Environment and Analysis

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/7n4vdj

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