The
report defines and segments the variable frequency drives market,
providing analysis and forecast of the global revenue. According to
the report, the global variable frequency drives market was valued at
USD 15,489.0 million in 2013 and is likely to reach USD 24,703.4
million by 2020, expanding at a CAGR of 7.0% between 2014 and 2020.
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Variable Frequency Drives Market Report with Full TOC
at
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The
variable frequency drives market includes two types of products: low
voltage and medium voltage. Low voltage drives currently occupy the
major share in the global variable frequency drives market. Growing
infrastructure and manufacturing sectors are expected to be major
growth drivers for the low voltage VFD market. Apart from saving
energy, low voltage VFDs also provides additional benefits to various
operations across industries. Some of these benefits include
minimized maintenance requirements, improved process control
performance, and enhanced motor and equipment life.
Growth
in market share of servo VFDs is expected to be the highest. However,
the market shares of both AC and DC VFDs are likely to contract in
the near future. Applications of robotics in industrial processes are
high. Servo drives are useful for monitoring and controlling robotic
movements for a particular operation. Rapidly growing market for
electric vehicles is also expected to further boost the demand for
servo VFDs. Both the chemical processing and petrochemical industries
are likely to exhibit a significant growth in demand for low power AC
drives in the near future.
The
market for variable frequency drives (VFD) has been segmented on the
basis of end-user applications into manufacturing, chemical
processing, infrastructural development, oil & gas, automotive,
power generation and others. The manufacturing sector was the largest
consumer of variable frequency drives globally in 2013. The sector’s
market share is expected to further increase by 2020. The
manufacturing sector has recently entered into a slowdown in the
South American countries, while the economies of Western Europe are
still recovering from the downturn.
The
global market for variable frequency drives (VFD) has been segmented
into four regions: the Americas, Asia Pacific, Europe, and Middle
East and Africa. The America’s region has been further
sub-segmented into North America and South America. A similar
approach has been taken for Asia Pacific, wherein the region has been
sub-segmented into China and the Rest of Asia Pacific. Asia Pacific
dominated the global market for VFDs in 2013. The region’s market
share is further anticipated to increase by 2020. Rapid development
of the manufacturing and chemical processing industries in the
emerging economies of India and China would play a major role in the
rising demand for VFDs in Asia Pacific. Significant growth in the
other industries in Asia Pacific such as power, infrastructure,
hydrocarbons, and automobile manufacturing is expected to fuel the
demand of VFDs throughout the forecast period.
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The
Middle East and Asia Pacific have highly developed manufacturing
sectors from both an economic and technological perspective. As
infrastructure development and manufacturing activities in these
regions increase, demand for VFDs is also expected to rise at
constant rates.
Companies
such as Abb Ltd., Siemens AG, Schneider Electric Industries S.A.S.,
Crompton Greaves Ltd., Eaton Corporation, Emerson Industrial
Automation, Fuji Electric Co., Ltd., Mitsubishi Electric Corporation
and Vacon PLC are expected to dominate the market in the near future.
Global
Variable Frequency Drive (VFD) Market: Voltage Range Analysis
- Low Voltage
- Medium Voltage
Global
Variable Frequency Drive (VFD) Market: Type Analysis
- AC
- DC
- Servo
Global
Variable Frequency Drive (VFD) Market: End-Use Application Analysis
- Manufacturing
- Chemical Processing
- Infrastructure Development
- Oil and Gas
- Automotive
- Power Generation
- Others
Global
Variable Frequency Drive (VFD) Market: Regional Analysis
Americas
- North America
- South America
Europe
Asia
Pacific
- China
- Rest of Asia Pacific
Middle
East and Africa (MEA)
Browse
Press Release Of Variable Frequency Drives Market
http://www.transparencymarketresearch.com/pressrelease/variable-frequency-drives-market.htm
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