Variable Frequency Drive (VFD) Market by Type (AC, DC, and Servo), End-Users (Industrial, Infrastructure, Oil & Gas, and Power Generation), Application (Pumps, Fans, Compressors, and Conveyors), Power Range, Voltage, and Region - Global Forecast to 2023

Variable Frequency Drive (VFD) Market by Type (AC, DC, and Servo), End-Users (Industrial, Infrastructure, Oil & Gas, and Power Generation), Application (Pumps, Fans, Compressors, and Conveyors), Power Range, Voltage, and Region - Global Forecast to 2023

“The VFD market is projected to grow at a CAGR of 5.87%, from 2018 to 2023.”
The VFD market is projected to reach USD 27.57 billion by 2023, from an estimated USD 20.73 billion in 2018, at a CAGR of 5.87%, from 2018 to 2023. This growth can be attributed to the increasing industrialization and urbanization and rising need of energy efficiency. Stagnant growth in the oil & gas industry due to declining oil prices can hinder the growth of the market.

“The AC drives segment is expected to dominate the VFD market from 2018 to 2023.”
The AC drives segment held the largest market share in 2017 and is estimated to be the fastest-growing segment during the forecast period. The AC drives segment provides more advantages as compared with DC and servo drives. The primary advantages of AC drives include increased energy savings and reduced levels of noise and vibrations. AC drives are mainly used for variable torque application in industries such as oil & gas, water & wastewater, and mining.

“Asia Pacific: The fastest growing market for VFDs.”
Asia Pacific is expected to be the largest market for VFDs in 2023 and is projected to grow at the highest CAGR, during the forecast period. China accounted for the largest share of the VFD market in the Asia Pacific region in 2017. Moreover, in January 2017, the government of China planned to invest about USD 361 billion in clean energy by 2020 as China aims to supply 20% of power from non-fossil sources by 2030, which shows a positive growth for the VFD market. All these factors are expected to drive the growth of the VFD market in Asia Pacific.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 55%, Tier 2- 9%, and Tier 3- 36%
By Designation: C-Level- 9%, Managers- 18%, and Others- 73%
By Region: Asia Pacific- 82%, North America- 9%, and RoW- 9%

Note: Others includes product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2017. Tier 1: >USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: <USD 500 million

The leading players in the VFD market include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Danfoss (Denmark), and Rockwell (US).

Research Coverage:
The report defines, describes, and forecasts the global VFD market by type, voltage, application, power ratings, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the VFD market.

Why Buy this Report?
1. The report identifies and addresses key markets for VFDs, which would help manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • DEFINITION
    • MARKET SCOPE
      • MARKET SEGMENTATION
      • REGIONAL SCOPE
    • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • LIMITATION
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN & DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
    • Table VFD MARKET SNAPSHOT
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE VFD MARKET, 2018–2023
    • VFD MARKET, BY VOLTAGE
    • VFD MARKET, BY APPLICATION
    • VFD MARKET, BY POWER RANGE
    • VFD MARKET, BY TYPE
    • ASIA PACIFIC VFD MARKET
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • VARIABLE FREQUENCY DRIVE MARKET, BY TYPE
    • INTRODUCTION
      • Table VFD MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
    • AC DRIVES
      • Table AC DRIVES: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • DC DRIVES
      • Table DC DRIVES: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • SERVO DRIVES
      • Table SERVO DRIVES: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
  • VARIABLE FREQUENCY DRIVE MARKET, BY VOLTAGE
    • INTRODUCTION
      • Table VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
    • LOW VOLTAGE (UP TO 690 V)
      • Table LOW VOLTAGE: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • MEDIUM VOLTAGE (> 690 V)
      • Table MEDIUM VOLTAGE: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
  • VARIABLE FREQUENCY DRIVE MARKET, BY APPLICATION
    • INTRODUCTION
      • Table GLOBAL VFD MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
    • PUMPS
      • Table PUMPS: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • FANS
      • Table FANS: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • COMPRESSORS
      • Table COMPRESSORS: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • CONVEYORS
      • Table CONVEYORS: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • OTHERS
      • Table OTHERS: VFD MARKET, BY REGION, 2016–2023 (USD MILLION)
  • VARIABLE FREQUENCY DRIVE MARKET, BY POWER RANGE
    • INTRODUCTION
      • Table VFD MARKET SIZE, BY POWER RANGE, 2016–2023 (USD MILLION)
    • MICRO POWER DRIVES
      • Table MICRO POWER DRIVES: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • LOW POWER DRIVES
      • Table LOW POWER DRIVES: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • MEDIUM POWER DRIVES
      • Table MEDIUM POWER DRIVES: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • HIGH POWER DRIVES
      • Table HIGH POWER DRIVES: VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
  • VARIABLE FREQUENCY DRIVE MARKET, BY END-USER
    • INTRODUCTION
      • Table VFD MARKET SIZE, BY END-USER, 2016–2023 (USD MILLION)
    • INDUSTRIAL
      • Table INDUSTRIAL: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
    • INFRASTRUCTURE
      • Table INFRASTRUCTURE: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
    • POWER GENERATION
      • Table POWER GENERATION: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
    • OIL & GAS
      • Table OIL & GAS: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
  • VARIABLE FREQUENCY DRIVE MARKET, BY REGION
    • INTRODUCTION
      • Table VFD MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • ASIA PACIFIC
      • BY VOLTAGE
        • Table ASIA PACIFIC: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
      • BY APPLICATION
        • Table ASIA PACIFIC: VFD MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
      • BY POWER RANGE
        • Table ASIA PACIFIC: VFD MARKET SIZE, BY POWER RANGE, 2016–2023 (USD MILLION)
      • BY TYPE
        • Table ASIA PACIFIC: VFD MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • BY COUNTRY
        • Table ASIA PACIFIC: VFD MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
        • Table CHINA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table INDIA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table JAPAN: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table AUSTRALIA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table SOUTH KOREA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table INDONESIA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table REST OF ASIA PACIFIC: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
    • EUROPE
      • BY VOLTAGE
        • Table EUROPE: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
      • BY APPLICATION
        • Table EUROPE: VFD MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
      • BY POWER RANGE
        • Table EUROPE: VFD MARKET SIZE, BY POWER RANGE, 2016–2023 (USD MILLION)
      • BY TYPE
        • Table EUROPE: VFD MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • BY COUNTRY
        • Table EUROPE: VFD MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
        • Table GERMANY: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table FRANCE: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table UK: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table RUSSIA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table ITALY: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table SPAIN: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table REST OF EUROPE: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
    • NORTH AMERICA
      • BY VOLTAGE
        • Table NORTH AMERICA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
      • BY APPLICATION
        • Table NORTH AMERICA: VFD MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
      • BY POWER RANGE
        • Table NORTH AMERICA: VFD MARKET SIZE, BY POWER RANGE, 2016–2023 (USD MILLION)
      • BY TYPE
        • Table NORTH AMERICA: VFD MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • BY COUNTRY
        • Table NORTH AMERICA: VFD MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
        • Table US: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table CANADA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table MEXICO: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
    • SOUTH AMERICA
      • BY VOLTAGE
        • Table SOUTH AMERICA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
      • BY APPLICATION
        • Table SOUTH AMERICA: VFD MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
      • BY POWER RANGE
        • Table SOUTH AMERICA: VFD MARKET SIZE, BY POWER RANGE, 2016–2023 (USD MILLION)
      • BY TYPE
        • Table SOUTH AMERICA: VFD MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • BY COUNTRY
        • Table SOUTH AMERICA: VFD MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
        • Table BRAZIL: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table ARGENTINA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table CHILE: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table REST OF SOUTH AMERICA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
    • MIDDLE EAST
      • BY VOLTAGE
        • Table MIDDLE EAST: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
      • BY APPLICATION
        • Table MIDDLE EAST: VFD MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
      • BY POWER RANGE
        • Table MIDDLE EAST: VFD MARKET SIZE, BY POWER RANGE, 2016–2023 (USD MILLION)
      • BY TYPE
        • Table MIDDLE EAST: VFD MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • BY COUNTRY
        • Table MIDDLE EAST: VFD MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
        • Table SAUDI ARABIA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table UAE: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table QATAR: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table OMAN: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table KUWAIT: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table REST OF MIDDLE EAST: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
    • AFRICA
      • BY VOLTAGE
        • Table AFRICA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
      • BY APPLICATION
        • Table AFRICA: VFD MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
      • BY POWER RANGE
        • Table AFRICA: VFD MARKET SIZE, BY POWER RANGE, 2016–2023 (USD MILLION)
      • BY TYPE
        • Table AFRICA: VFD MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • BY COUNTRY
        • Table AFRICA: VFD MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
        • Table EGYPT: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table NIGERIA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table SOUTH AFRICA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
        • Table REST OF AFRICA: VFD MARKET SIZE, BY VOLTAGE, 2016–2023 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • RANKING OF PLAYERS AND INDUSTRY CONCENTRATION, 2017
    • COMPETITIVE SCENARIO
      • Table TMEIC WAS THE MOST ACTIVE PLAYER IN THE MARKET BETWEEN 2014 & 2018
      • NEW PRODUCT LAUNCHES
      • CONTRACTS & AGREEMENTS
      • INVESTMENTS & EXPANSIONS
      • MERGERS & ACQUISITIONS
      • OTHERS
  • COMPANY PROFILE
    • BENCHMARKING
    • ABB
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • SIEMENS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • SCHNEIDER ELECTRIC
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • DANFOSS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • ROCKWELL
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • CROMPTON GREAVES
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • EATON
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • FUJI
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENT
      • MNM VIEW
    • HITACHI
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • NIDEC
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • TMEIC
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • WEG SA
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • YASKAWA
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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