The Latin America, Middle East and Africa Variable Frequency Drive (VFD) Market would witness market growth of 7.5% CAGR during the forecast period (2019-2025). AC drives are used in different sectors, such as power generation, oil and gas, food and beverages, and metal and mining. Variable speed drives are used in the manufacturing process to power rotating equipment like conveyors, fans, pumps, and machine spindles, and to increase the industry's energy efficiency. Therefore, growth in the end-use sector is expected to fuel the overall growth of the VFD market over the coming years.
One of the market's main challenges is the elevated initial cost of variable speed drives making integration into electrical drives a costly process. The cost of these drives varies according to the power rating, size, and applications in which they are being used. Based on their operations, output level, and operating power range, the low and medium voltage variable frequency drives which account for a significant share of market revenue are overpriced in the market. In addition, a shortage of skilled labor is also projected to hamper market growth in the most developing economies over the forecast period.
Based on Product Type, the market is segmented into AC Drives, DC Drives and Servo Drives. Based on Power Range, the market is segmented into Low, Medium, Micro and High. Based on Application, the market is segmented into Pumps, Electric Fans, HVAC, Conveyers and Extruders & Others. Based on End User, the market is segmented into Oil & Gas, Industrial, Food & Beverages, Power Generation, Infrastructure, Automotive and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Variable Frequency Drive (VFD) Market in LAMEA is expected to register a CAGR of 7.5% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Hitachi, Ltd., Eaton Corporation PLC, Rockwell Automation, Inc., Nidec Corporation, Siemens AG, Schneider Electric SE, Mitsubishi Heavy Industries Ltd., Fuji Electric Co., Ltd., and The Danfoss Group.
Market Segmentation:
By Product Type
By Power Range
By Application
By End User
By Country
Companies Profiled
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