Variable Frequency Drives Global Market Report 2022

Major players in the variable frequency drives market are Eaton Corporation, Hitachi Hi-rel Power Electronics, Rockwell Automation, Johnson Controls, Anaheim Automation, WEG, ABB, Nidec Motor Corporation, Siemens, Danfoss, Honeywell International, TMEIC, Fuji Electric Corp, Schneider electric, Yaskawa Corporation, General Electric, Mitsubishi Electric Automation, Toshiba International Corporation, Delta Electronics.

The global variable frequency drives (VFD) market is expected to grow from $16.58 billion in 2021 to $17.37 billion in 2022 at a compound annual growth rate (CAGR) of 4.8%. The variable frequency drives (VFD) market is expected to grow to $21.23 billion in 2026 at a CAGR of 5.1%.

The variable frequency drive (VFD) market consists of sales of power electronics-based devices products by entities (organizations, sole traders, and partnerships) that includes a type of motor controller that varies frequency and voltage to drive an electric motor.These drives also can control ramp-up or ramp-down of the motor.

These drives help save energy and system efficiency and most commonly used in fans, pumps, conveyors, and compressors.

The main types of variable frequency drives are AC drives, DC drives, and servo drives.AC Drives are used to control the speed of an electrical motor for enhancing process control, reducing energy usage and generating energy efficiently.

These are of various power ratings such as low power rating, medium power rating, micropower rating, and high power rating.They are applicable in pumps, fans, compressors, conveyors, and other applications.

Variable frequency drives are used by end-users such as food and beverages, oil and gas, power generation, infrastructure, and other end-users.

Asia Pacific was the largest region in the variable frequency drives market in 2021 and is expected to be the fastest-growing region in the forecast period. The regions covered in the variable frequency drives report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The variable frequency drives (VFD) market research report is one of a series of new reports that provides variable frequency drives (VFD) market statistics, including variable frequency drives (VFD) industry global market size, regional shares, competitors with a variable frequency drives (VFD) market share, detailed variable frequency drives (VFD) market segments, market trends and opportunities, and any further data you may need to thrive in the variable frequency drives (VFD) industry. This variable frequency drives (VFD) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Increasing need and government regulations for energy efficiency across various industries are driving the growth of the market.Industries across the world have been striving to make better use of energy.

Governments across the world have also been enforcing strict regulations for the industries to be energy efficient.The variable frequency drives are known to be very energy efficient and convenient.

Thus, they are very useful in decreasing energy usage in industries.For instance, the Energy Conservation Building Code (ECBC) sets minimum energy standards for new commercial buildings in India having a connected load of 100kW or contract demand of 120 KVA and above.

Hence, the increasing government efficiency standards would boost the variable frequency drives market.

Technological advancements are the main trend that is gaining popularity in the variable frequency drives market.Many companies are developing new products to provide an enhanced experience to their clients.

For an instance, In June 2021, Ireland based power management company , Eaton launched POWER XL DM 1 Micro Variable frequency drive.This new drive offers the best value through the incorporation of IoT and Ethernet Communication.

Moreover, customers will benefit from the DM1’s greater efficiency, safety, and dependability, as well as features that enhance integration and simplicity of use.

In September 2019, Sumitomo Heavy Industries (SHI), a Japanese manufacturer of heavy electric machinery, acquired Invertek for an undisclosed amount.This acquisition will help Sumitomo to expand its business portfolio and launch Sumitomo Drive Technologies Brand.

Invertek is a UK-based manufacturer of variable frequency drives.

The countries covered in the variable frequency drives market report is Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.