Directory Image
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.

Variable Frequency Drive Market 2018 Strategic Assessment – ABB, Siemens, Schneider Electric, Danfos

Author: Almira Coyne
by Almira Coyne
Posted: Aug 08, 2019

The global variable frequency drive market is projected to reach USD 27.57 billion by 2023, at a CAGR of 5.87%, from an estimated USD 20.73 billion in 2018, by value. The growth of the VFD market is mainly driven by the increased usage of variable frequency drive across major industry verticals, industrialization and urbanization, and increasing focus on energy efficiency.

Asia Pacific is estimated to be the fastest growing market for VFDs during the forecast period. The region has been segmented, by country, into China, Japan, India, South Korea, Indonesia, Australia, and the Rest of Asia Pacific. The variable frequency drive market in the region is primarily driven by the increase in investments toward energy efficiency projects and massive investments in the manufacturing industry. As per the Asian Development Bank (ADB), the regional share of global energy consumption is expected to increase from 34% in 2010 to 56% by 2035, which would drive the VFD market in the region.

The variable frequency drive market, by type, is segmented into AC drives, DC drives, and servo drives. The AC drives segment is estimated to be the fastest growing market for VFDs during the forecast period. Increased energy savings, increased life of rotating components, and reduced levels of noise and vibrations are expected to create the demand for VFDs during the forecast period. For instance, Europe planned to minimize energy efficiency standards and reduce 1.5% in national energy sales annually. Such factors are likely to drive the AC drives market in the region.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=878

The report segments the variable frequency drive market, by application, into pump, fan, compressor, conveyor, and others. The compressor segment is expected to grow at the highest CAGR during the forecast period. Air compressor is one of the important components for oil & gas, chemical, food & beverage, and building automation industries. Therefore, increasing investments toward oil & gas and infrastructure industries are likely to drive the demand for the compressor segment.

The variable frequency drive market is dominated by a few major players that have a wide regional presence. The leading players in the variable frequency drive market include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Danfoss (Denmark), and Rockwell (US).

The major strategies adopted by the players include new product developments, contracts & agreements, investments & expansions, and mergers & acquisitions. New product developments was the most commonly adopted strategy from January 2014 to April 2018. Industry players also adopted contracts & agreements, which was the second most widely followed strategy during the same period.

ABB is a provider of power and automation technology for various industries such as oil & gas, power generation, and transport & infrastructure globally. The company operates through 4 divisions, namely, power grids, electrification products, robotics and motion, and industrial automation. It provides VFD under the robotics and motion business segment. ABB drives business provides low-voltage AC drives, medium-voltage drives, and DC drives for various industries such as building automation, marine, power, transportation, food & beverage, metals, mining, and oil & gas. The company has a presence in over 100 countries with production and R&D centers worldwide. Moreover, in September 2017, ABB acquired GE industrial solution to strengthen its position in electrification segment globally and expand its presence in the North American market.

Browse Research Report Summary with Complete TOC @

https://www.marketsandmarkets.com/Market-Reports/variable-frequency-drive-market-878.html

Siemens engaged in the business of electrification, automation, and digitalization. The company conducts its operations through 8 segments, namely, power and gas, healthineers, energy management, digital factory, mobility, Siemens Gamesa renewable energy, process industries and drives, and building technologies. Its process industries and drives business segment provide variable frequency drive to various industries such as oil & gas, shipbuilding, mining, cement, fiber, chemicals, food & beverage, and pharmaceuticals. The company operates 289 production and manufacturing plants across the globe. Moreover, in November 2017, Siemens partnered with Airbus and Rolls-Royce for the development of drive systems across various power classes for hybrid electric flight.

About the Author

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.

Rate this Article
Author: Almira Coyne

Almira Coyne

Member since: Sep 19, 2018
Published articles: 168

Related Articles