About Variable Frequency Drives
Variable frequency drive is a device used for controlling the frequency and voltage that is supplied to the motor, based on the application need and requirements. Variable frequency drives provide motion control and reduce the power use, as they regulate the motors and supply only the required voltage, thereby reducing power consumption. The global variable frequency drives market is segmented into the following power ratings: less than 1000 kW and greater than 1000 kW.
Technavio’s analysts forecast the global variable frequency drives market to grow at a CAGR of 5.23% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global variable frequency drives market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Variable Frequency Drives Market 2017-2021
Technavio recognizes the following companies as the key players in the global variable frequency drives market: ABB, Danfoos, Rockwell Automation, Siemens, and Schneider Electric.
Other Prominent Vendors in the market are: Eaton, Emerson, Fuji Electric, General Electric, Hitachi, Mitsubishi Motors, Schaffner, SPOC Automation, Toshiba, WEG, and Yaskawa Electric.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is improved cooling and increased functionality of the drives. Variable frequency drives heat up when supplying a large load to energy-intensive industries. The heat needs to be controlled inside the drive for proper functioning in order to perform tasks efficiently. For cooling the drives, a proper cooling arrangement needs to be done so that the temperature remains constant, which results in increased costs.”
According to the report, one driver in the market is increasing energy efficiency by using variable frequency drives. The global variable frequency drives market is fueled by the strong demand for energy-efficient products and technologies in plant premises. Various regulations are laid down by regulatory bodies, which include adherence to the use of higher energy-efficient motors, are pushing end-users to adopt technologies that can help them optimize the operations along with energy-efficiency. The importance of energy-efficient drives has gained a significant momentum over the last decade. Electricity has become a key concern for various industries, especially in developing countries because of severe power shortages.
Further, the report states that one challenge in the market is limitation of variable frequency drives in high-speed responses. Variable frequency drives face issues while operating with inappropriate power supply, such as overvoltage and under voltage. These drives require a proper power supply to work efficiently, as controlling panels in variable frequency drives can vary the frequency only when it receives a fixed voltage. To solve this issue, the drives should have proper harmonic mitigation devices. However, such devices increase the size of the drives, which results in an increase in heat generation. Cooling facilities are required to regulate the heat and improve the performance of the drives, leading to increased costs.
ABB, Danfoos, Rockwell Automation, Siemens, Schneider Electric, Eaton, Emerson, Fuji Electric, General Electric, Hitachi, Mitsubishi Motors, Schaffner, SPOC Automation, Toshiba, WEG, and Yaskawa Electric.