The ability of variable frequency drive to decrease the energy cost and consumption of energy is anticipated to surge the global variable frequency drive market growth during the forecast period. According to an upcoming report by Fortune Business Insights, titled, “Variable Frequency Drive” Market Size, Share and Global Trend By Type (AC Drive, DC Drive, Servo Drive), By Power Range (Micro Power, Low Power, Medium Power, High Power), By Application (Pumps, Electric Fans, Conveyers, HVAC, Others), By End User (Food & Beverages, Oil & Gas, Power generation, Infrastructure, Automotive, Others), and Geography Forecast till 2026,” variable frequency drive is very helpful in the manufacturing sector for operating the motor efficiently and reducing the cost of maintenance. It helps in increasing production. All these factors are expected to propel the global variable frequency drive market in the coming years.
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Fortune Business Insights profiles some of the renowned market players operating in the global variable frequency drive market. They are:
- General Electric Company
- ABB Ltd.
- Invertek Drives
- Eaton Corporation
- Schneider Electric
- Hitachi Ltd.
- Rockwell Automation, Inc.
- Yaskawa Electric Corporation
- Siemens AG
- WEG Industries
Invertek Drives Ltd. Appoints Electro-Pneumatic Solutions as its Sales Partner
Invertek Drives Ltd., a designer and manufacturer of sophisticated electronic variable speed drives, based in Powys, announced in May 2020 that it appointed Electro-Pneumatic Solutions (EPS) as its sales partner for Montenegro, Macedonia, Kosovo, and Serbia. EPS is a prominent leader in solutions for industrial and automation processes. It works with companies in robotics, renewables, energy, food processing, pharmaceuticals, and mechanical rooms. The company would help in offering sales and servicing of the Opidrive range of variable frequency drives and similar other technologies for Invertek. The company recently completed a 5,500 sq. meter global distribution and manufacturing centre in the U.K. It would aid Invertek in rapidly increasing production.
Market Landscape and Market Scenario Includes:
- Current market size estimate
- Revenues by players Top Companies
- Market size by product categories
- Market size by regions/country
- Key Market Driver – Increase demand for efficiency and productivity devices
- Key Market Restraint – Highly expensive
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1. By Type
- AC Drive
- DC Drive
- Servo Drive
2. By Power Range
- Micro Power
- Low Power
- Medium Power
- High Power
3. By Application
- Electric Fans
4. By End User
- Food & Beverages
- Oil & Gas
- Power generation
5. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Spain, Italy, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
The report analyzes the global variable frequency drive market opportunities for and competitive landscape for the stakeholders as well as the market leaders. Moreover, it provides elaborate information about the key market developments, ongoing trends, growth drivers, and restraints. It also strategically analyzes the global market on the bases of contributions, future expansions, and individual growth trends.
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Rapid Urbanization and Industrialization to Favor Growth in Asia Pacific
Geographically, the global variable frequency drive market is divided into Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe. Out of these, Venezuela in Latin America is growing day by day in oil export. Variable frequency drive helps in increasing the productivity of the machines, which further maintains the oil export process. North America, on the other hand, is one of those regions that lets machines do most of the work. An urgent need to increase machine efficiency and productivity is expected to propel the market growth in this region.
In Asia Pacific, industrialization and urbanization are rapidly growing. Therefore, there’s an unmet requirement of manufacturing more products by maintaining less wastage. Italy, Germany, and the U.K. in Europe are three of the most prominent manufacturing hubs. Here, for the efficient operation of the product line, variable frequency drive is used. These factors would aid in driving the variable frequency drive market sales in this region.
Queries Addressed In Variable Frequency Drive Market Report:
- What opportunities are present for the market players to enhance their business footprint?
- What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
- Which segment is witnessing huge traction from the consumers?
- For what purposes, is the market being utilized?
- How many units are estimated to be sold in 2020?
ABB Ltd. Releases New ACQ580 Variable Frequency Drive for Water and Wastewater Industries
ABB Ltd., multinational corporation, headquartered in Switzerland, unveiled its new variable frequency drive in October 2018. The new product is called ACQ580 variable frequency drive. It was developed for wastewater and water industries. The device aids in optimizing wire-to-water or air efficiency, simplifying commissioning and operation, and increasing system performance. It further helps in improving reliability and flow in aeration applications and municipal pumping. ACQ580 comes with special features that are designed for municipal industries. The pump clean feature, for instance, ejects debris from the impellers. The sensor-less flow calculation feature helps in receiving accurate flow measurement without the usage of flowmeters. Additionally, features, such as the quick-ramp and soft pipe fill mode protects submersible pumps and decreases water-hammer damage, respectively.
Key Features of Variable Frequency Drive Market Research Report:
- This report provides detail analysis of the Variable Frequency Drive market and have a comprehensive understanding of the market and its commercial landscape.
- Learn about the various Variable Frequency Drive market strategies that are being adopted by leading companies.
- It provides a five-year forecast assessed based on how the market is predicted to grow.
- It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
- To understand the future scope and outlooks for the Variable Frequency Drive market.
- Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
- Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
- Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
- The global Variable Frequency Drive market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
- Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
- Variable Frequency Drive Market Report also mentions market share accrued by each product in the market, along with the production growth.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Key Industry Developments
- In May 2020, Invertek Drives Ltd. has appointed Electro Pneumatic Solutions as sales partner for Serbia, Kosovo, Macedonia and Montenegro. The company just completed manufacturing and distribution centre at its headquarter in Welshpool, Powys, UK which help to increase the production to more than 500000 drives per year.
- In Oct 2018, ABB Ltd. has released the new variable frequency drive, which is geared for the water and waste water industry. The drive increase system performance, simplifies commissioning and operation and optimizes wire to water/air efficiency. The device also improves flow and reliability in municipal pumping and aeration application.
- In Oct 2018, Invertek Drives Ltd. has launched a new coolvert variable frequency drive which is one of the smallest in its class, providing OEMs with opportunities to reduce panel space and lower machine cost.
Table of Content
5. Global Variable Frequency Drive (VFD) Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Variable Frequency Drive Market Analysis, Insights and Forecast – By Type (USD Billion)
5.2.1. AC Drive
5.2.2. DC Drive
5.2.3. Servo Drive
5.3. Variable Frequency Drive Market Analysis, Insights and Forecast – By Power Range (USD Billion)
5.4. Variable Frequency Drive Market Analysis, Insights and Forecast – By Application (USD Billion)
5.4.4. Electric Fan
5.5. Market Analysis, Insights and Forecast – By End-User (USD Billion)
5.5.1. Food & Beverage
5.5.2. Oil & Gas
5.5.3. Power Generation
5.6. Market Analysis, Insights and Forecast – By Region (USD Billion)
5.6.1. North America
5.6.3. Asia Pacific
5.6.4. Middle East & Africa
5.6.5. Latin America
6. North America Variable Frequency Drive (VFD) Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Type (USD Billion)
6.2.1. AC Drive
6.2.2. DC Drive
6.2.3. Servo Drive
6.3. Market Analysis, Insights and Forecast – By Power Range (USD Billion)
6.4. Market Analysis, Insights and Forecast – By Application (USD Billion)
6.4.4. Electric Fan
6.5. Market Analysis, Insights and Forecast – By End-User (USD Billion)
6.5.1. Food & Beverage
6.5.2. Oil & Gas
6.5.3. Power Generation
6.6. Market Analysis, Insights and Forecast – By Country (USD Billion)
7. Europe Variable Frequency Drive (VFD) Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Type (USD Billion)
7.2.1. AC Drive
7.2.2. DC Drive
7.2.3. Servo Drive
7.3. Market Analysis, Insights and Forecast – By Power Range (USD Billion)
7.4. Market Analysis, Insights and Forecast – By Application (USD Billion)
7.4.4. Electric Fan
7.5. Market Analysis, Insights and Forecast – By End-User (USD Billion)
7.5.1. Food & Beverage
7.5.2. Oil & Gas
7.5.3. Power Generation
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