Asia-Pacific is He Largest Variable Frequency Drive Market and Expected to Register the Highest Grow

Variable frequency drive (VFD) is a kind of motor controller which drives an electric motor by varying the voltage and frequency supplied to the electric motor. It is also known as adjustable speed drive, variable speed drive, and AC drive. It works as per the requirement of the electric motor’s load, for instance, if an application doesn’t require an electric motor to run at full speed, it will ramp down the voltage and frequency to meet the electric motor’s load requirement.

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The global variable frequency drive market is growing at a good pace and expected to register a decent CAGR during the forecast period. This can be attributed to the advantages it offers such as, reduce energy consumption and reduce energy costs, increase production through tight process control, extend equipment life, reduce maintenance, and others.

Need of energy efficiency, increasing use of variable frequency drive in various industries, and favorable regulatory environment are the major drivers witnessed in the market that are driving the market growth. Electric motors are responsible for almost 65% of the power consumption in industry. This device can reduce energy consumption in the facility by almost 70%. It also improves the product quality and can also reduce the production cost.

Availability of cheap and low-quality products is the main challenge identified in the variable frequency drive market, which can potentially hinder the market growth during the forecast period. Various cheap substitutes and fake products are available in the market at a low-cost, which has the ability to attract the customers, which is posing as a challenge in the market.

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Globally, Asia-Pacific is the largest variable frequency drive market and expected to register the highest growth in the market, owing to the significantly increasing investment in the renewable energy, positively affecting the growth of the market. Countries such as India, China, and Japan are anticipated to be the largest contributor in the market growth, owing to the massive investment in the manufacturing industries by the government of these countries to support their economic growth.

Some of the key players operating in the variable frequency drive market are ABB, Fuji Electric, Amtech Electronics, Eaton, Crompton Greaves, Emerson, Danfoss VLT Drives, Hiconics, General Electric, Johnson Controls, Honeywell, KB Electronics, Mitsubishi, Schneider Electric, Rockwell Automation, Siemens, Vacon, Toshiba and Yaskawa Electric.

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