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Global Variable Frequency Drive Market 2016-2020

Global Variable Frequency Drive Market 2016-2020

Outlook of the global variable frequency drives market

Technavio's market research analyst predicts the global variable frequency drives (VFD) market to grow steadily at a CAGR of nearly 8% by 2020. The need for manufacturers to optimize their manufacturing processes and cut operational costs by reducing energy consumption is the primary growth driver for this market. The prospects for growth in this market are impelled by the growing preference for electric motors in household appliances, automobiles, aerospace, industrial, and other transportation equipment over mechanical and hydraulic motors.

In terms of geography, the APAC region will be the largest market for VFDs during the predicted period. The growth of the chemical processing and manufacturing industries coupled with the significant growth of other industries like power, infrastructure, automobile production, and hydrocarbons will result in this region's impressive market share of more than 56% by 2020.

Product-based segmentation of the VFD market

AC
DC
Servo
The AC drives segment currently dominates the market and is envisaged to further enhance its hold over the market by 2020 owing to its extensive utilization in all types of industries and induction motors to achieve multiple speeds of operation. Moreover, its augmented usage in heavy industries, such as metals and mining, oil and gas, cement, paper, power generation, wind energy, water and wastewater, and marine, will result in its massive market share of more than 84% by 2020.

Segmentation by voltage type and analysis of the VFD market

Low voltage
Medium voltage
In this market study, analysts estimate the low voltage VFD segment to account for more than 81% of the total market share by 2020. Since these drives have high flexibility, they can be configured to meet the precise requirements of industrial applications. Rapid development in the infrastructure and manufacturing sectors will lead to the healthy growth of this market segment during the predicted period.

Competitive landscape and key vendors

The global variable frequency drives market is highly fragmented because of the presence of numerous small and large suppliers. The providers in this market compete on the basis of price, quality, and value-added services to gain maximum market traction during the forecast period.

Key vendors in the market are -

ABB
Siemens
Toshiba
Yaskawa
Other prominent vendors in the market include American Electric Technologies, Amtech Electronics India, Emerson, Fuji Electric, Hiconics Drive Technology, Hitachi, Honeywell, Johnson Controls, Mitsubishi Electric, DELTA, and Schneider Electric.

Key questions answered in the report include

What will the market size and the growth rate be in 2020?
What are the key factors driving the global variable frequency drives market?  
What are the key market trends impacting the growth of the variable frequency drives market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global variable frequency drives market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the variable frequency drives market?
Technavio also offers customization on reports based on specific client requirement.

Related reports:

Global AC Drives Market 2015-2019
Global DC Drives Market - Market Analysis 2015-2019
Global Electric Drives Market 2015-2019
Global Chain Drives Market 2015-2019


Press Release

Technavio Announces the Publication of its Research Report – Global Variable Frequency Drives Market 2016-2020

Technavio recognizes the following companies as the key players in the Global Variable Frequency Drives Market: ABB, Siemens, Toshiba and Yaskawa

Other Prominent Vendors in the market are: American Electric Technologies, Amtech Electronics India, Emerson, Fuji Electric, Hiconics Drive Technology, Hitachi, Honeywell, Johnson Controls, Mitsubishi Electric, DELTA, and Schneider Electric.

Commenting on the report, an analyst from Technavio’s team said: “Low power rating drives of less than 1 MW are slowly gaining popularity in the market. Technological advances have enabled end-users to manufacture and provide compact and energy-efficient devices that use low power rating drives. Also, the rising demand for HVAC systems has intensified the need for such drives. These drives are used for motors with low power ratings and are widely used in applications such as cranes, hoists, fan applications, and lower capacity pumps, thus steadily fueling the growth of global VFD market.”

According to the report, VFDs are increasingly being applied in HVAC systems as energy management tools. VFDs act as energy-saving devices in fans, pumps, air handling units, and chillers. They are increasingly used in equipment having variable load applications. Typically, energy savings vary from 30% to 50% when using a VFD.

Further, the report states that the substantial initial investment required to enter the market restricts the overall growth of the market.

Companies Mentioned

ABB, Siemens, Toshiba, Yaskawa, Electric Technologies, Amtech Electronics India, Emerson, Fuji Electric, Hiconics Drive Technology, Hitachi, Honeywell, Johnson Controls, Mitsubishi Electric, DELTA, and Schneider Electric.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top vendor offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Global VFD market overview
    • Market size and forecast
      • Table Global VFD market 2015-2020 ($ billions)
    • Five forces analysis
  • Market segmentation by voltage range
    • Global VFD market by voltage range
      • Table Global VFD market by voltage range
    • Global low voltage VFD market
      • Table Global low voltage VFD market 2015-2020 ($ billions)
    • Global medium voltage VFD market
      • Table Global medium voltage VFD market 2015-2020 ($ billions)
  • Market segmentation by product
    • Global VFD market by product
      • Table Global VFD market by product 2015-2020
    • Global VFD market by AC drives
      • Table Global VFD market by AC drives 2015-2020 ($ billions)
    • Global VFD market by DC drives
      • Table Global VFD market by DC drives 2015-2020 ($ billions)
    • Global servo VFD market
      • Table Global servo VFD market 2015-2020 ($ billions)
  • Geographical segmentation
    • Market segmentation by region
      • Table Market segmentation by region 2015-2020
    • VFD market in APAC
      • Table VFD market in APAC 2015-2020 ($ billions)
      • Table Vehicle (car, bus, and truck) production in 2013-2014 (millions of units)
    • VFD market in EMEA
      • Table VFD market in EMEA 2015-2020 ($ billions)
    • VFD market in Americas
      • Table VFD market in Americas 2015-2020 ($ billions)
  • Market drivers
    • Need for industrial automation
      • Table Global robotics market 2010-2025 ($ billions)
    • Increased use of VFDs in HVAC systems
      • Table Global HVAC market 2015-2020 ($ billions)
    • Increased energy savings by using VFD
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Decline in profit margins
      • Table Copper price 2014-2015 ($ per tons)
    • Need to suppress harmonic waves
      • Table Components of VFD
    • High initial investment
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
  • Key vendor analysis
    • ABB
      • Table ABB: Business segmentation by revenue 2014
    • Siemens
      • Table Siemens: Business segmentation by revenue 2014
    • Toshiba
      • Table Toshiba: Business segmentation by revenue 2015
    • Yaskawa Electric
      • Table Yaskawa Electric: Business segmentation by revenue 2015
  • Appendix
    • List of abbreviations
  • Explore Technavio

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