Variable frequency drives (VDF) are capable of converting basic fixed frequency into variable frequency resulting in enhanced motor control. The use of variable frequency drives facilitates in power savings, efficient flow control, and cost savings. Moreover, VDF equipment is far more reliable compared to the traditional mechanical approaches and the frequency variations have larger scope of application in various end-user industries.
Rise in need for energy efficiency and cost savings is expected to drive the growth of the market. Further, rapid urbanization and industrialization is also anticipated to fuel the demand of VDF equipment during forecast period. However, the lack of application of VDF in pumping the fluids is expected to hinder the growth of the market.
The global variable frequency drives market is segmented based on application, end-user industry, and geography. By application, the market is divided into compressors, motors, fans, extruders, and others. By end-user industry, the market is classified into automotive, electronics, power generation, oil & gas, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the report include ABB, Hitachi, Honeywell, Mitsubishi Electric, Omron, Panasonic, Schneider Electronics, Siemens, Toshiba, and Yaskawa.
- The study provides an in-depth analysis of the global variable frequency drives market and current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities is provided.
- Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.
Variable Frequencies Drives Market Key Segments:
By End-User Industry
- Power Generation
- Oil & Gas
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled In The Report
- Mitsubishi Electric
- Schneider Electronics