Market for variable frequency drives to grow 6.4% annually from 2014 to 2019
Dallas, TX – A study from Markets and Markets has been released on variable frequency drives (VFDs), indicating the global variable frequency drives market value is expected to reach $22.7 billion by 2019, growing at a CAGR of 6.4% from...
Dallas, TX – A study from Markets and Markets has been released on variable frequency drives (VFDs), indicating the global variable frequency drives market value is expected to reach $22.7 billion by 2019, growing at a CAGR of 6.4% from 2014 to 2019.
VFDs, also known as adjustable speed drives, variable speed drives or inverters, adjust the speed and torque of a motor in machinery and equipment. By adjusting the speed of the overall process in the system, the device helps in achieving optimum output for the system, thereby increasing its efficiency. It is used widely in all the industries where reduction in electricity consumption and energy savings is a prime concern.
VFDs are of different types such as AC, DC and Servo. The voltage and power of VFDs depend on factors such as the type of product and motor range where it is to be used. The growth of variable frequency drives market is dependent on the development of industries and infrastructure.
The various segments of the VFD market have been analyzed with respect to market trends, growth trends and future prospects. The data has been analyzed from 2012 to 2019, and all quantitative data regarding segmentation is mentioned in terms of value.
The critical factors responsible for the growth of the VFD market include increasing consumption and prices of electricity, along with infrastructural development. The key concerns in the industry pertain to implementation costs for these devices.
The variable frequency drives market is also analyzed with respect to Porter’s Five Force model. Different market forces, such as threat from suppliers, threat from buyers, degree of competition, threat from substitutes, and threat from new entrants are analyzed with respect to the VFD industry. The report also provides a competitive landscape of major market players that includes developments, mergers & acquisition, expansion and investments, agreements and contracts, new technologies developments, and others.
Key players in the industry are profiled, including ABB Ltd. (Switzerland), American Electric Technologies Inc. (U.S.), Amtech Electronics India Ltd. (India), Crompton Greaves (India), Danfoss VLT Drives (Denmark), Eaton (Ireland), Emerson Industrial Automation (U.S.), Fuji Electric Co. Ltd. (Japan), GE Energy Power Conversion (U.S.), Hiconics Drive Technology Co. Ltd. (China), Hitachi Ltd. (Japan), Honeywell International Inc. (U.S.), Johnson Controls Inc. (U.S.), KB Electronics Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Rockwell Automation Inc. (U.S.), Schneider Electric (France), Siemens AG (Germany), Toshiba International Corporation (TIC) (Japan), Vacon PLC (Finland) and Yaskawa Electric Corp (Japan).
The title of the report is: Variable Frequency Drives Market by Type (AC, DC, Servo), Power Range (Micro, Low, Medium, High), Voltage (Low & Medium), Application (Pump, Fan, Compressor, Conveyor, Elevator, Extruder) and Geography – Global Market Trends & Forecast to 2019. For more information, visit http://www.marketsandmarkets.com/knowledge-process-outsourcing-services.asp.