According to a new market research report published by Global Insight Services “Variable Frequency Drive (VFD) Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A Variable Frequency Drive (VFD) is an electronic device that adjusts the speed of an electric motor by controlling the frequency of the power supply. The VFD can also be used to control the torque and direction of the motor. The VFD is used in a wide range of applications, from small home appliances to large industrial machinery.
The VFD works by varying the frequency of the power supply to the electric motor. The frequency is the number of times the power supply cycles per second. The VFD can increase or decrease the frequency, which in turn changes the speed of the motor.
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Key Players
- ABB
- Eaton
- General Electric
- Hitachi Ltd.
- Rockwell Automation Inc.
- Schneider Electric
Key Trends
The main trends in Variable Frequency Drive technology are the following:
The increasing use of digital technology: This is resulting in the development of more sophisticated and efficient VFDs.
The increasing use of alternative energy sources: This is resulting in the development of VFDs that are better able to handle fluctuating power supplies.
The increasing use of environmentally-friendly materials: This is resulting in the development of VFDs that are more durable and have a lower environmental impact.
Key Drivers
The increasing demand for energy-efficient solutions is one of the key drivers of the VFD market. The need to reduce energy consumption and carbon emissions has led to the development of energy-efficient technologies. VFDs help to save energy by reducing the speed of the motor when it is not required to operate at full speed. This results in lower energy consumption and carbon emissions.
The need for better process control is another key driver of the VFD market. VFDs help to improve the quality of the process by providing a better control over the speed and torque of the motor. This results in improved process stability and higher product quality.
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Market Segments
By Product Type
- AC Drives
- DC Drives
- Servo Drives
By Power Range
- Micro (0-5 kW)
- Low (6-40 kW)
- Medium (41-200 kW)
- High (>200 kW)
By Application
- Pumps
- Electric Fans
- Conveyors
- HVAC
- Extruders
- Others
By End Use
- Oil & Gas
- Power Generation
- Industrial
- Infrastructure
- Automotive
- Food & Beverages
- Others
Reasons to buy Variable Frequency Drive (VFD) Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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- 10-year forecast to help you make strategic decisions
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Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario
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