Report Code: A04195 | Pages: 253 | Jan 2018 | 11702 Views | ||
Author(s) : Chandani P | Tables: 147 | Charts: 64 |
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Request Now !Variable Speed Drive is a device that regulates the speed and rotational force of electric motor by changing the frequency of the power being fed to the motor. Motors are widely used in industries and offices. In addition, more than 65% of industrial energy is consumed by motors. Motors operate in various machine such as sewage and irrigation pumps, paper machines, power plant fans, and milking machines. Moreover, variable speed drive are essential components in electrical devices such as pump, fan, compressor, conveyor, and others where it plays a key role.
Increase in urbanization and industrialization in emerging countries such as India, China, Brazil, and others drive the demand for variable speed drive market. Further, the growth in need for energy efficiency, rise in trend of industrial automation, and reduction in operating costs of any intensive industry fuel the market growth. However, high cost of deployment is expected restrain the growth of the market.
ABB Ltd., Siemens AG, Rockwell Automation, Inc., Yaskawa Electric Corporation, General Electric, Crompton Greaves, WEG, Schneider, Emerson Electric, and Danfoss are some of the key players operating in the global variable speed drive market.
Segment Overview
The variable speed drive market is segmented based on type, voltage, application, end user, and region. Based on type, the market is categorized into AC drive, DC drive, and servo drive. According to voltage type, the market is bifurcated into low voltage and medium voltage. Based on application, the market is divided into compressor, pumps, fans, and others. Based on end user, the market is segmented into automotive, electronic, oil & gas, power generation, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Factors that are expected to impact the global variable speed drive market during the forecast period are as follows:
Increase in Industrialization in Emerging Market
Rise in working population and increase in urbanization lead to rise in industrialization in emerging markets such as India, China, Brazil, and others. Further, with the increase in industrialization the demand for variable speed drives is also expected to rise as it regulates the speed and rotational force of the electric motor installed in several machines for instance pump, fan, compressor, conveyor, and others in the organization. In addition, the benefit such as controlled starting current that extends the life of the motor, reduced voltage sag, and controlled acceleration attracts industries toward adoption of variable speed drives.
Increase in Demand for Energy Efficiency Devices
More than one-third of the global electrical energy is supplied by electric motors in fixed-speed centrifugal pump, compressor, fan, and other applications. This creates the demand for devices such as variable speed drives, which increases the energy efficiency, cuts down the operational cost, and results in rise in production efficiency. Variable speed drive reduces energy cost up to 50% through the reduction of speed on applications where the full speed of the electric motor is not required.
Key Benefits
Variable Speed Drive Market Report Highlights
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By Voltage |
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Variable speed drive is a device that regulates the speed and rotational force of electric motor by changing the frequency of the power being fed to the motor. Motors are widely used in industries and offices. In addition, more than 65% of industrial energy is consumed by motors. Motors operate in various machine such as sewage and irrigation pumps, paper machines, power plant fans, and milking machines. Moreover, variable speed drive are essential components in electrical devices such as pump, fan, compressor, conveyor, and others where it plays a key role. Based on voltage, it is classified into low and medium voltage.
By voltage type, low voltage segment was dominant in 2016, and is anticipated to continue its dominance during the forecasted period in terms of revenue. By application, the fan segment witnessed highest growth rate during the forecast period, followed by compressor.
ABB Ltd., Siemens AG, Rockwell Automation, Inc., Yaskawa Electric Corporation, General Electric, Crompton Greaves, WEG, Schneider, Emerson Electric, and Danfoss are key market players that occupy a garner revenue share in the variable speed drive market.
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