Variable Frequency Drive Market (By Power Range: High, Medium, Low, Micro; By Voltage: Medium, Low; By Drive: Servo, AC, DC; By Technology: Regenerative, Standard; By Application: Industrial, Automotive, Oil & Gas, Power Generation, Infrastructure, Food & Beverages , Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

The global variable frequency drive market size is expected to reach around US$ 29 Bn by 2027 and growing at a CAGR of 6.7% in terms of revenue during the forecast period 2020 to 2027.

Variable frequency drive is used in the electromechanical mechanism to control torque and the AC motor speed by adjusting input voltage and frequency. It is also known as a variable speed drive or an adjustable frequency drive. It is an electric motor-driven type of engine controller. The frequency control adjustment of the variable frequency regulates to adjust the speed of the motor, since the frequency is related closely to the RPM and expressed in rotation per minute (RPM). Controlling circuit, inverters and intermediate connectors are the variable frequency motor. They are constructed in various styles of medium or low voltage DC-AC and AC-AC topologies.

The report provides analysis of global Variable Frequency Drive market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.                                                                                                                    

Dynamics

The key demand forces which are driving business growth are a need for energy conservation, expanded use of variable drive speeds in diverse industries and favorable regulatory climate. About 65 percent of the industry's electric motors use electricity. This system will reduce the plant's power consumption by approximately 70%. This increases the efficiency of the goods and can high the cost of production.

The emergence of falsified goods of poor quality on the black market, however, may be an obstacle to development in the world market for variable frequency drive. However, rising Internet of Things (IoT) will provide companies operating on the target market with high revenues.

Regional Overview

Asia Pacific dominates the global variable frequency drive market in 2019. Growing energy efficiency demand, promoting government regulations and policies, as well as growing emphasis on manufacturing production are the main factors that contribute to the region's business growth. Asia Pacific has high economic growth and is projected to fuel VFD demand through numerous end-use industries. However, due to rapid marketing and industrialization developments in India, China, Japan, Australia and Indonesia, The Indian demand for variable frequency drives is increasing with rising energy costs resulting in the need for powerful engine control systems and drives. On the other hand, many government initiatives for lowering oil demand and greenhouse emissions and power would potentially lead to customers being willing to use variable frequency drives to conserve money.

North America will achieve a considerable market position. In the variable- frequency drive industry, the United States will rise double-digit by 2029.

Report coverage

The market research study on “Variable Frequency Drive Market (Variable Frequency Drive Market By Power Range: High, Medium, Low, Micro, Variable Frequency Drive Market By Voltage: Medium, Low; Variable Frequency Drive Market By Drive: Servo, AC, DC; Variable Frequency Drive Market By Technology: Regenerative, Standard; Variable Frequency Drive Market By Application: Industrial, Automotive, Oil & Gas, Power Generation, Infrastructure, Food & Beverages, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Variable Frequency Drive market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Variable Frequency Drive market size, and segment markets by type, sales channel, end use, and geography along with the information on companies operating in the market. The Variable Frequency Drive market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global variable frequency drive market is segmented as below:

Market Segmentation

Variable Frequency Drive Market By Power Range

• High
• Medium
• Low
• Micro

Variable Frequency Drive Market By Voltage

• Medium
• Low

Variable Frequency Drive Market By Drive

• Servo
• AC
• DC

Variable Frequency Drive Market By Technology

• Regenerative
• Standard

Variable Frequency Drive Market By Application

• Industrial
• Automotive
• Oil & Gas
• Power Generation
• Infrastructure
• Food & Beverages
• Others

Variable Frequency Drive Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

Key Players and Market Situation

Participants include major global players such ABB, Eaton, Schneider Electric, Fuji Electric, American Electric Technologies, Rockwell Automation, Inc., Crompton Greaves, Amtech Electronics, Danfoss, Emerson, Hiconics Drive Technology, Honeywell and Others.