Selbyville, Delaware, March 05, 2020 (GLOBE NEWSWIRE) --
Global variable frequency drive market value is projected to cross USD 40 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Favorable government norms toward sustainable energy distribution and growing customer demand across automobile sector will propel the industry outlook.
Growing customer inclination toward sustainable energy along with increasing investment of automobile industries toward EV sector will augment the industry landscape. High reliability & flexibility in line with low installation and maintenance cost will propel the business scenario. Furthermore, replacement of traditional AC & DC drives across industrial, residential and commercial segments will drive the global variable frequency drive industry demand.
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DC variable frequency drive market is set to increase on account of its wide applicability across metal, chemical & cement industries. Constant speed, simple circuits, high start-up torque, and wide range of changing loads are major parameters of stimulating the grinders and cutters applicability across food processing industry. Ongoing expansion of automotive industry along with increasing applicability of DPG & TENV DC drives across manufacturing facilities will positively influence the business landscape.
Some findings of the global variable frequency drive market report include:
- The demand for variable speed drives are surging across oil & gas, mining, power and other sectors owing to their compact design, cost effectiveness and high reliability.
- Favorable government norms toward carbon free emission technology coupled with growing customer inclination toward renewable technologies will drive the business scenario.
- Key players functioning across the variable voltage drive Eaton, Fuji Electric, GE market, Siemens, Vacon and Johnson Controls etc.
- Increasing investments toward industrial, commercial and residential sector along with growing integration of monitoring & control system across manufacturing establishment will propel the global variable frequency drive industry outlook.
Browse key industry insights spread across 643 pages with 1182 market data tables & 38 figures & charts from the report, "Variable Frequency Drive Market Forecast By Voltage (Low, Medium), Technology (Standard, Regenerative), Power Range (Micro, Low, Medium, High), Drive (AC, DC, Servo), Application (Pump, Centrifuges, Conveyor, Evaporators, Mixers, Grinders, Cutters, Fans, Others), End-Use (Oil & Gas, Power Generation, Food Processing, Automotive, Mining & Metals, Pulp & Paper, Others), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/variable-frequency-drive-vfd-market
Ongoing investments toward research and development sector to enhance the performance, flexibility and product life cycle of voltage drives will augment the product landscape. For instance, in 2018, Schneider Electric developed Lexium 28 servo drives and motors ranging from 0.4-7Kw for its PacDrive automation solution featuring three network phases with a supply voltage range of 170-255 for single phase and 200 to 255 for three phases. Furthermore, growing adoption of cutting-edge technology across sustainable energy network will stimulate the product demand.
Increasing investments toward smart infrastructure coupled with growing applicability of high-power rating VFD units across mining and metal industries will propel the business scenario. Ongoing innovative technology adoption by HVAC industry to abide by energy efficiency standards will positively drive the global variable voltage drive industry. For instance, Eaton delivered PowerXL DH1 drive solution for HVAC and R industry facilitating reduced energy usage, reliable motor performance and cost saving.
Asia Pacific region in 2019, held over 50% of global variable frequency drive market share. Favorable government regulations and policies toward sustainable power sources in line with tax rebates, resiliency initiatives and financial incentives will stimulate the product penetration. Rising energy demand across emerging economies along with ongoing adoption of VDF units across oil & gas industry will boost the product demand.
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Browse Related Reports:
U.S. Variable Frequency Drive Industry By End-Use (Oil & Gas, Power Generation, Food Processing {Dairy Processing [Milk, Cheese, Yogurt, Ice Cream], Meat Processing [Poultry, Meat {Beef/Pork}], Sugar Processing [Cane, Beet], Ingredients Processing [Flour, Grain, Oil]}, Automotive, Mining & Metals, Pulp & Paper, Others), Power Range (Micro, Low, Medium, High), Drive (AC, DC, Servo), Voltage (Low, Medium), By Technology (Standard, Regenerative), Application (Pump, Centrifuges, Conveyor, Evaporators, Mixers, Grinders, Cutters, Fans, Others), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025
https://www.gminsights.com/industry-analysis/us-variable-frequency-drive-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers.