Global Variable Frequency Drive Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Variable frequency drive Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global variable frequency drive market report has been segmented on the basis of voltage, type, application, end user, and region.

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Global Variable Frequency Drive Market: Overview

Variable frequency drive, also known as variable speed drive or adjustable frequency drive, is used in an electromechanical drive system in order to control torque and AC motor speed by changing input voltage and frequency. It is a type of motor controller that drives electric motor. Variable frequency drive changes the frequency in order to change the speed of the motor, which is measured in rotation per minute (RPM) as frequency is directly related to the RPM. Variable frequency drive consists of controlling circuit, rectifiers, inverters, and intermediate DC link. They are designed in various types with DC-AC and AC-AC topologies, with medium voltage or low voltage. According to the application, a suitable type of variable frequency drive is selected.

Global Variable Frequency Drive Market: Dynamics

Key factor driving growth of the global variable frequency drive market is increasing demand of variable frequency drives in industrial applications. Adjustable frequency drive helps to reduce energy consumption and energy cost, which is a factor supporting growth of the target market. In addition, VFD increases production in manufacturing units as it helps to operate motors at efficient speed by eliminating jerks on conveyer and belts. Variable frequency drive reduces the requirement of maintenance and extends life of the equipment. These are some of the major factors expected to boost growth of the global variable frequency drive market in the near future.

However, availability of low quality counterfeit products in the grey market is a factor that may hamper growth of the global variable frequency drive market. Nevertheless, growing adoption of Internet of Things (IoT) platform can create high revenue opportunities for players operating in the target market.

Global Variable Frequency Drive Market: Segment Analysis

Among the voltage segments, the low voltage segment is expected to account for significant share in terms of revenue in the near future. Increasing use of low voltage variable frequency drive in power, oil and gas, building automation, and various other sectors is a factor supporting growth of this segment in the global market. Among end user segments, the infrastructure segment is expected to register high growth in terms of revenue over the forecast period. Increasing investments in development projects is a major factor supporting growth of this segment in the target market.

Global Variable Frequency Drive Market: Regional Analysis

Currently, market in Asia Pacific is expected to account for major share in terms of revenue and is expected to register high growth over the forecast period. Increasing investment for infrastructure development especially in China and Japan for commercial and housing facilities is a major factor driving growth of the target market in Asia Pacific region. In addition, increasing demand for equipment that are energy efficient is another factor anticipated to propel growth of the variable frequency drive market in this region in the near future.

Global Variable Frequency Drive Market Segmentation:

Segmentation by Voltage:

Medium Voltage
Low Voltage

Segmentation by Type:

DC Drives
Servo Drives
AC Drives

Segmentation by Application:

Compressors
Pumps
Conveyors
Fans
Others

Segmentation by End User:

Power Generation
Oil & Gas
Infrastructure
Industrial