Variable Frequency Drives Market Share, Size Report 2022-2027: Growth, Top Companies, Analysis And Forecast

The market is primarily driven by the rising demand for connected devices in the residential, industrial, and commercial sectors owing to rapid automation.

BROOKLYN, NEW YORK, UNITED STATES, February 21, 2023 /EINPresswire.com/ -- The latest report published by IMARC Group, titled “Variable Frequency Drives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global variable frequency drives market size reached US$ 27.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 38.55 Billion by 2027, exhibiting a CAGR of 5.70% during 2022-2027. A variable frequency drive (VFD) is a motor controller utilized to manage an alternating current (AC) motor speed by changing the frequency and voltage supplied. It also prevents energy consumption, controls operating speed, and minimizes costs for numerous motor-driven applications. Also known as AC drives, adjustable frequency drives, inverters, variable speed drives, and microdrives, VFD is equipped with sensors that prevent motor damage. Presently, VFD is widely utilized in pumps, fans, crushers, chippers, conveyors, compressors, blowers, and grinders with software resolutions to monitor speed and improve efficiency.

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Market Trends:

The market is primarily driven by the rising demand for connected devices in the residential, industrial, and commercial sectors owing to rapid automation. In addition, the increasing inclination toward replacing conventional mechanical drives with electric motors in the construction sector represents another growth-inducing factor. Furthermore, the surging need for stable and reliable transmission and distribution (T&D) networks owning to the rising energy demand, is contributing to the market growth. Along with this, an improved focus on sustainable development provides lucrative market growth. Other factors, including the advent of Industry 4.0, increasing penetration of the internet of things (IoT) in industrial applications and implementation of several favorable government regulations promoting energy conservation, are further propelling the market growth.

Variable Frequency Drives Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the variable frequency drives market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• ABB Ltd.
• Danfoss A/S
• Eaton Corporation PLC
• Fuji Electric Co. Ltd.
• General Electric Company
• Hitachi Ltd.
• Honeywell International Inc.
• Johnson Controls International PLC
• Mitsubishi Electric Corporation
• Nidec Motor Corporation
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• Toshiba Corporation
• Yaskawa Electric Corporation.

Key Market Segmentation:

The report has segmented the global variable frequency drives (vfd) market based on product type, power range, application, end use and region.

Breakup by Product Type:
• AC Drives
• DC Drives
• Servo Drives

Breakup by Power Range:
• Micro (0-5 kW)
• Low (6-40 kW)
• Medium (41-200 kW)
• High (>200 kW)

Breakup by Application:
• Pumps
• Fans
• Conveyors
• HVAC
• Extruders
• Others

Breakup by End Use:
• Oil and Gas
• Power Generation
• Industrial
• Infrastructure
• Automotive
• Food and Beverages
• Others

Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About IMARC Group:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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