Variable Frequency Drive - Global Market Outlook (2017-2023)
According to Stratistics MRC, the Global Variable Frequency Drive market is expected to grow from $18.68 billion in 2016 to reach $28.21 billion by 2023 with a CAGR of 6.0%. Growing demand for energy efficiency, government regulations and rise in demand for industrialization and urbanization are some factors expected to witness lucrative growth. Conversely, declining investments in Greenfield will reflect the market strength during the forecast period. Moreover, the market has tremendous growth opportunity like growing prospect in industrial internet of things (IIoT) and replacement sector.
By power range, micro power drive segment commanded the largest market share due to their wide applications in extruders, compressors, fans and others. Asia Pacific is anticipated to dominate the global market attributed to extensive usage of VFS’s in infrastructural and industrial activities.
Some of the key players profiled in this market includes Hitachi, Ltd., Fuji Electric Co., Rockwell Automation, Mitsubishi Heavy Industries, Ltd., Schneider Electric SE, Yaskawa Electric Corp, WEG SA, Toshiba, Siemens AG, Crompton Greaves, ABB Ltd, Danfoss, Eaton Corporation Plc, Emerson Electric Co., and General Electric .
Voltages Covered: • Low Voltage Variable Frequency Drives • Medium Voltage Variable Frequency Drives
End Users Covered: • Industrial • Oil & Gas • Infrastructure • Power Generation • Food Processing • Automotive • Mining & Metals • Pulp & Papers • Other End Users
Types Covered: • Direct Current (DC) Variable Frequency Drives • Servo Variable Frequency Drives • Alternative Current (AC) Variable Frequency Drives
Power Ranges Covered: • High Power Drives • Medium Power Drives • Low Power Drives • Micro Power Drives
Regions Covered: • North America US Canada Mexico • Europe Germany France Italy UK Spain Rest of Europe • Asia Pacific Japan China India Australia New Zealand Rest of Asia Pacific • Rest of the World Middle East Brazil Argentina South Africa Egypt
What our report offers: - Market share assessments for the regional and country level segments - Market share analysis of the top industry players - Strategic recommendations for the new entrants - Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets - Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations) - Strategic recommendations in key business segments based on the market estimations - Competitive landscaping mapping the key common trends - Company profiling with detailed strategies, financials, and recent developments - Supply chain trends mapping the latest technological advancements