The North America Variable Frequency Drive (VFD) Market would witness market growth of 5.6% CAGR during the forecast period (2019-2025). A variable frequency drive can alter the power supplied to match the driven equipment's energy requirements, and that's how it saves energy or improves energy consumption. Compared to direct-on-line (DOL) operation, where the motor operates at full speed regardless of demand, the drive will dramatically reduce energy consumption.
Saving power or fuel by 40% is popular with the use of a drive. The roll-on effect means that drive use often decreases the NOx emissions and CO2 footprint of the installed systems. Expanding urbanization and industrialization levels are raising consumer demand, which would result in industrial and manufacturing sector development and drive demand for VFDs during the forecast period. Industries like processing and manufacturing implement various types of components and equipment which differ in terms of industry, mode of operation as well as technology.
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.
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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Variable Frequency Drive (VFD) Market in North America is expected to register a CAGR of 5.6% 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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