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According to a new report Global Variable Frequency Drive (VFD) Market, published by KBV research, The Global Variable Frequency Drive (VFD) Market size is expected to reach $31.3 billion by 2025, rising at a market growth of 6% CAGR during the forecast period.
The AC drive segment recorded a dominant market share in 2019 because of its reduced vibration and noise levels, low maintenance costs, as well as easy integration. Compared with DC and servo drives, the AC drives segment offers more benefits. Increased energy efficiency and reduced noise and vibration rates are the major benefits of AC drives. AC drives are primarily used in industries like water & wastewater, oil & gas, and mining for variable applications of torque.
The increasing demand from the chemical, oil and gas, marine, and power sectors is expected to provide a significant CAGR to the medium power range segment over the forecast period. The high-power segment of the market would see a strong demand due to the growing adoption of advanced technologies designed to meet government standards.
The pump segment has recorded a significant share of the variable frequency drive as a result of its adoption across regeneration turbines for power generation. The growing use of flow control drives through the infrastructure of the hydro plant to improve output would drive product penetration. The growth of HVAC industry would positively influence the rising disposable income in line with the enhanced standard of living in developing countries.
The Asia Pacific market is expected to hold a dominant share due to rapid infrastructure development, increased demand for higher power efficiency and high levels of industrial growth. Developing economies like Japan, India, and China are projected to be the key contributors in the growth of the VFD industry. Due to increasing industrialization in developing economies including Brazil and Mexico, the regional market in Latin America is expected to register the highest CAGR.
Structural Insights: https://www.kbvresearch.com/variable-frequency-drive-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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