736 , Shakti Khund III , New Delhi
+1778-732-2565

Global Variable Frequency Drive Market By Technology (Servos, AC drives, DC drives), By Application (Pumps, Compressors, Conveyors), By End User (Oil & Gas, Infrastructure, Others), By Region–Forecast & Opportunities to 2026

The global variable frequency drives market accounted for a value of USD 17.5 billion in 2019. The global variable frequency drives market is projected to register growth at CAGR of 3.8% during the forecast period.

COVID-19 has impacted all the businesses over the globe. It has impacted variable frequency drives market negatively. The production is on halt. The supply chain was also affected due motion restriction and lockdown policies raw material supply is facing difficulties. Thus, the VFD market is expected to witness decline during forecast period.

Definition:

Variable frequency drive also termed as adjustable frequency drive or variable speed drive or micro drive or inverter drive. It is a kind of motor drive which is used in electro-mechanical drive systems in order to control torque and AC motor speed by varying motor input frequency and voltage. Systems with VFD are more efficient than with throttling control of fluid.

Market Dynamics (Drivers/Opportunities):

Variable frequency drives used in wide range of industries such as chemical & petrochemical, cement, oil & gas, pulp & paper, water & wastewater, mining. It has major applications in conveyors, utility pumps, fans, process pumps, air compressors, coolers, process compressors, cooling tower fans, grinders, blowers, chippers and crushers. Thus, demand for VFD is very in market which drives the VFD market to foresee growth during forecast period.

China, India, US, Brazil, Iran, Russia, Indonesia, Turkey, Egypt and Saudi Arabia has very opportunities for VFD in cement and manufacturing industries. There are lucrative opportunities in the pulp & paper industries in Japan, China, US and Canada. This is increasing demand for VFD market in these countries. This is likely to drive growth in VFD market during forecast period.

Market Insights, by Type

On the basis of type, the variable frequency drives market is segmented into Servos, AC drivers, DC drivers. The AC segment in VFD market accounted for maximum market share in 2019. It is projected to register growth at highest CAGR of XX% during the forecast period. AC drivers consist of more merits than DC drivers and servos. It provides reduced noise level of noise and vibration and increased energy savings. The application of AC drivers is increasing in medium and heavy industries. AC drivers are majorly used for variable torque in many industries such as mining, water & wastewater and oil & gas. These all factors together drive growth in VFD market during forecast period.

 

Market Insights, by Application

On the basis of application, the variable frequency drives market is segmented into fans, pumps, compressors, conveyors and others. The pumps segment is accounted for maximum market share in 2019. The VFD has substituted the hydraulic drives assimilated by pumps in order to lower the energy consumption and for smooth operations. The integration of VFD with pumps has more advantages which is escalated growth in pumps segment in 2019.

However, the compressor segment is projected to register growth at highest CAGR during the forecast period. For oil & gas, chemical, food & beverages, and building automation industries the air compressors is one of the most important components. Thus the increasing demand in all such industries is likely to drive growth in this compressors segment in VFD market.

Market Insights, by End-User

On the basis of end user the VFD market is segmented into oil & gas, infrastructure, power generation, industrial and others. The industrial segment is projected to register growth at highest CAGR during the forecast period.  The demand for electric motors is increasing immensely in various industries such as pulp & paper, marine, cement and others. Thus, attributes growth in industrial segment of VFD market during the forecast period.

Regional Insights

Asia-Pacific region is expected to register growth at highest CAGR during the forecast period. In Asia-Pacific region China is estimated to account for largest market share during the forecast period. The China government has planned to invest USD 361 billon in clean energy by the end of 2020 and it aims to provide 20% of power from non-fossil sources by 2030. This is expected to show a significant growth in VFD market during the forecast period.

Key Companies & Market Share Insights

The key market players in variable frequency drive market Eaton Corporation, Crompton Greaves Ltd, ABB Ltd., Rockwell Automations, Honeywell International, Hitachi Group, Mitsubishi Corporation, Siemens AG, Toshiba Corporation, Johnson Controls Inc., Schneider Electric SE,  NIDEC Corporation, Danfoss A/S, Fuji  and TMEIC.

Segments Covered in the Report

This report forecasts The Global Variable Frequency Drives Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global variable frequency drives market report on the basis of type, application and end-user.

Variable Frequency Drives Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Variable Frequency Drives Market, By Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Servos
  • AC drives
  • DC drives
  1. Variable Frequency Drives Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Fans
  • Pumps
  • Compressors
  • Conveyors
  • Others
  1. Variable Frequency Drives Market, By End User, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Oil & Gas
  • Infrastructure
  • Power Generation
  • Industrial
  • others
  1. Variable Frequency Drives Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Type
    • By Application
    • By End-User
    • By Country
      • USA
        • By End-User
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Type
      • By Application
      • By End-User
      • By Country
        • Brazil
          • By End-User
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Type
        • By Application
        • By End-User
        • By Country
          • UK
            • By End-User
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Type
          • By Application
          • By End-User
          • By Country
            • China
              • By End-User
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Type
            • By Application
            • By End-User
            • By Country
              • Saudi Arabia
                • By End-User
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • TMEIC
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Eaton Corporation
    • Crompton Greaves Ltd
    • ABB Ltd.
    • Rockwell Automations
    • Honeywell International
    • Hitachi Group
    • Mitsubishi Corporation
    • Siemens AG
    • Toshiba Corporation
    • Johnson Controls Inc.
    • Schneider Electric SE
    • NIDEC Corporation
    • Danfoss A/S
    • Fuji
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

Please share your details to receive a sample copy of the report

Single User : $3750
Multi User : $6100
Buy Now

 

Why Choose Us

  • 24*7 Post Sales Support
  • Speak to Analyst for Presentations
  • 15% Free Customization
  • Global, Regional & Country level reports
  • Special Discounts for Startups & Educational Institutions

Questions ?

  • What is 15% Free Customization?
  • What is Report Subscription?
  • What is the Delivery Time of the Report?

What You Get

Data Excel Sheets

Report in PDF

Report Subscription

Analyst Support

What's Included

Market Intelligence

Competitive Intelligence

Opportunities and Challenges

Strategic Recommendations