Global Variable Frequency Drives (VFD) Market Outlook, 2019-2023 with ABB, Danfoss, Rockwell Automation, Schneider Electric, and Siemens Dominating - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 11, 2019--The “Global Variable Frequency Drives (VFD) Market 2019-2023” report has been added to ResearchAndMarkets.com’s offering.
The variable frequency drives (VFD) market will register CAGR of almost 5% by 2023.
The rising need for power and the shortage of electricity are continuously compelling the governments to focus on the efficient use of electricity to achieve sustainable economic growth.
The governments in different countries are issuing clear directives for utility companies and industrial operators to use power efficiency. Therefore, the use of energy-efficient devices has increased in the industrial sectors. Regulations on industrial energy consumption have compelled the industrial operators to adopt energy-efficient equipment. This would help the operators in fulfilling the energy efficiency standards and mandates.
The increasing focus toward energy efficiency in the industry premises has provided high growth opportunities for the demand for variable frequency drives. This trend is expected to have a high positive impact on the global variable frequency dives market during the forecast period.
Presence of regulations that mandate use of variable frequency drives in industries
The regulation on energy efficiency for motors mandates the use of variable frequency drives with such industrial motors. Therefore, with the changing government regulation on motor efficiency, the demand for variable frequency drives is expected to increase even during the forecast period.
High cost of installation
Major issues such as over voltage and under voltage with respect to variable frequency drives are while operating them with inappropriate power supply. These drives require proper power supply to work efficiently. This is because the control panels in variable frequency drives can vary the frequency only when it receives a fixed voltage. To resolve this issue, the drives are integrated with harmonic mitigation devices. However, such devices increase the size and overall cost of the drives.
The market appears to be moderately fragmented with the presence of several vendors. The market has observed a growing need for energy-efficient equipment. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
- Rockwell Automation
- Schneider Electric
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
PART 06: MARKET SEGMENTATION BY TYPE
- Comparison by type
- Low voltage drives - Market size and forecast 2018-2023
- Medium voltage drives - Market size and forecast 2018-2023
- Market opportunity by type
PART 07: CUSTOMER LANDSCAPE
PART 08: MARKET SEGMENTATION BY END-USER
- Comparison by end-user
- Food and beverages - Market size and forecast 2018-2023
- Water and wastewater treatment - Market size and forecast 2018-2023
- Oil and gas - Market size and forecast 2018-2023
- Power generation - Market size and forecast 2018-2023
- Mining and metals - Market size and forecast 2018-2023
- Other end-users - Market size and forecast 2018-2023
- Market opportunity by end-user
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- APAC - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- North America - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
- Technological advances in variable frequency drives
- Advent of IoT in variable frequency drives
- Increased need for compact and integrated drive systems
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Rockwell Automation, Inc.
- Schneider Electric
For more information about this report visit https://www.researchandmarkets.com/research/rxgxkn/global_variable?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190311005545/en/
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SOURCE: Research and Markets
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PUB: 03/11/2019 10:25 AM/DISC: 03/11/2019 10:25 AM