HOME Top Market Reports Variable Frequency Drives Market by Type (AC, DC, Servo), Power Range (Micro, Low, Medium, High), Voltage (Low & Medium), Application (Pump, Fan, Compressor, Conveyor, Elevator, Extruder) and Geography - Global Market Trends & Forecast to 2019

Variable Frequency Drives Market by Type (AC, DC, Servo), Power Range (Micro, Low, Medium, High), Voltage (Low & Medium), Application (Pump, Fan, Compressor, Conveyor, Elevator, Extruder) and Geography - Global Market Trends & Forecast to 2019

By: marketsandmarkets.com
Publishing Date: August 2014
Report Code: EP 2653

 

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A Variable Frequency Drive (VFD) is also known as adjustable speed drive, variable speed drive, and inverter. It is a device which adjusts the speed and torque of the motor in electronic and electrical appliances. By adjusting the speed of the overall process in the system, this device helps in meeting the process requirements. This helps in achieving optimum output for the system, thereby increasing its efficiency. It is used widely in all the industries where reduction in electricity consumption and energy savings is a prime concern. Variable Frequency Drives are of different types such as AC (Alternating Current), DC (Direct Current), and Servo. The voltage and power of VFDs depend on factors such as the type of product and motor range where it is to be used. The growth of variable frequency drives market is dependent on the development of industries and infrastructure. These are some of the key driving factors for the variable frequency drives market.

The global variable frequency drives market is segmented on the basis of their types which include AC (Alternating Current), DC (Direct Current), and Servo. Secondly, the global market is also segmented on the basis of power they work which includes micro, low, medium and high. The third segment is by voltage range, which is either low or medium. In addition, they are segmented by application on the basis of devices they are used this includes pumps, fans, Compressors, Conveyors, Elevators, Extruder, and others. Lastly, the market is segmented on the basis of regions such as, Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa. Each segment has been analyzed with respect to its market trends, growth trends, and future prospects. The data has been analyzed from 2012 to 2019, and all quantitative data regarding segmentation is mentioned in terms of value ($million).

Huge market with estimated value of $22.7 billion by 2019

The global variable frequency drives market value is expected to reach $22.7 Billion by 2019, growing at a CAGR of 6.4% from 2014 to 2019. The critical factors responsible for the growth of the VFD market include increasing consumption and prices of electricity along with infrastructural development. The key concerns in the industry pertain to implementation costs for these devices.

Variable Frequency Drives Market Size, by Type,2014-2019 ($Million)

Variable Frequency Drives Market

Source: MarketsandMarkets Analysis

The variable frequency drives market is also analyzed with respect to Porter's Five Force model. Different market forces such as threat from suppliers, threat from buyers, degree of competition, threat from substitutes, and threat from new entrants, are analyzed with respect to the variable frequency drives industry. The report also provides a competitive landscape of major market players that includes developments, mergers & acquisition, expansion & investments, agreements & contracts, new technologies developments, and others. A number of these developments are spotted by key industry players that suggest the growth strategy of these companies as well as of the overall industry.

The report classifies and defines the value for the types of variable frequency drives industry. It covers qualitative data of different types of variable frequency drives. The report also provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, and key burning issues in the variable frequency drives market. Key players in the industry are profiled in detail with their recent developments. Some of these include companies such as ABB Ltd. (Switzerland), American Electric Technologies Inc. (AETI) (U.S.), Amtech Electronics India Ltd. (India), Crompton Greaves (India), Danfoss VLT Drives (Denmark), Eaton (Ireland), Emerson Industrial Automation (U.S.), Fuji Electric Co., Ltd. (Japan), GE Energy Power Conversion (U.S.), Hiconics Drive Technology Co. Ltd. (China), Hitachi Ltd. (Japan), Honeywell International Inc. (U.S.), Johnson Controls Inc. (U.S.), KB Electronics, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Rockwell Automation Inc. (U.S.), Schneider Electric (France), Siemens AG (Germany), Toshiba International Corporation (TIC) (Japan), Vacon PLC (Finland), Yaskawa Electric Corp (Japan).

Table of Contents 
 
1 List of Acronyms (Page No. - 15)

2 Introduction (Page No. - 16)
    2.1 Objectives
    2.2 Analyst Insights
    2.3 Market Segmentation and Markets Covered
    2.4 Stakeholders
    2.5 Research Methodology
          2.5.1 Approach
          2.5.2 Market Size Estimation
          2.5.3 Market Crackdown & Data Triangulation
          2.5.4 Key Data Taken From Secondary Sources
          2.5.5 Key Secondary Sources Used
          2.5.6 Key Data Taken From Primary Sources
          2.5.7 Assumptions Made for This Report

3 Executive Summary (Page No. - 26)

4 Market Overview (Page No. - 30)
    4.1 Introduction
    4.2 Market Statistics
          4.2.1 Global Variable Frequency Drives Market
          4.2.2 Submarkets
                   4.2.2.1 Regional Trends in VFD Market
                   4.2.2.2 Trends Within Types of Variable Frequency Drives
                               4.2.2.2.1 Regional Trends for Variable Frequency Drives, By Type
                   4.2.2.3 Trends for Variable Frequency Drives Market, By Voltage
                               4.2.2.3.1 Regional Trends for Variable Frequency Drives Market, By Voltage
                   4.2.2.4 Power Drive Trends in the VFD Market
                   4.2.2.5 Global End-Use Sector VFD Market Trends
                               4.2.2.5.1 Regional Trends for Variable Frequency Drives, By Application

5 Market Analysis (Page No. - 42)
    5.1 Market Dynamics
          5.1.1 Drivers
                   5.1.1.1 Rising Energy & Electricity Prices
                   5.1.1.2 Continuous increase in the Consumption of Electricity
                   5.1.1.3 Development and Modernization of Infrastructure
                   5.1.1.4 Stringent Environmental Regulations
                   5.1.1.5 Increasing Awareness About Advantages of Drives
          5.1.2 Restraints
                   5.1.2.1 Implementation Costs
                   5.1.2.2 Lag In Implementation of Standards and Directives
          5.1.3 Opportunity
                   5.1.3.1 Huge Market Potential for VFDs
                   5.1.3.2 Growing Environmental Concerns
          5.1.4 Burning Issues
                   5.1.4.1 Noise Radiated From VFD Systems:
                   5.1.4.2 Generation of Electromagnetic and Radio Frequency Interference:
          5.1.5 Winning Imperative: New Product Launch Is the Key Winning Imperative for the VFD Market
    5.2 Value Chain Analysis
          5.2.1 Raw Materials
          5.2.2 Variable Frequency Drive Manufacturers
          5.2.3 End Users
    5.3 Porter’s Five forces Analysis
          5.3.1 Buyers Power
          5.3.2 Suppliers Power
          5.3.3 Threat of New Entrants
          5.3.4 Threat of Substitutes
          5.3.5 Degree of Competition

6 Variable Frequency Drive Market, By Type (Page No. - 56)
    6.1 Introduction
    6.2 Market Analysis
          6.2.1 AC Drives to Boost VFD Market
          6.2.2 AC Drives
                   6.2.2.1 Introduction
                   6.2.2.2 Asia-Pacific – Main Growth Driver
          6.2.3 DC Drives
                   6.2.3.1 Introduction
                   6.2.3.2 Market Analysis
          6.2.4 Servo Drives
                   6.2.4.1 Introduction
                   6.2.4.2 Market Analysis

7 Variable Frequency Drives, By Power & Voltage Range (Page No. - 68)
    7.1 Power Range
          7.1.1 Market Segmentation
          7.1.2 Market Analysis
                   7.1.2.1 Segment Analysis
                   7.1.2.2 Micro Power Drive
                               7.1.2.2.1 Introduction
                   7.1.2.3 Low Power Drives
                               7.1.2.3.1 Introduction
                   7.1.2.4 Medium Power Drives
                   7.1.2.4.1 Introduction
                   7.1.2.5 High Power Drives
                               7.1.2.5.1 Introduction
    7.2 Voltage Range
          7.2.1 Market Segmentation
          7.2.2 Market Analysis
                   7.2.2.1 Low Voltage Drive Dominate VFD Market By Voltage Range
                   7.2.2.2 Low Voltage
                               7.2.2.2.1 Introduction
                   7.2.2.3 Medium Voltage
                               7.2.2.3.1 Introduction

8 Variable Frequency Drives, By Application (Page No. - 85)
    8.1 Industry Overview
    8.2 Market Analysis
          8.2.1 Pump Application to Exhibit Maximum Growth
          8.2.2 Pumps Application Market
                   8.2.2.1 Introduction
          8.2.3 Fans Application Market
                   8.2.3.1 Introduction
          8.2.4 Compressors Application Market
                   8.2.4.1 Introduction
          8.2.5 Conveyor Application Market
                   8.2.5.1 Introduction
          8.2.6 Elevators Application Market
                   8.2.6.1 Introduction
          8.2.7 Extruder Application Market
                   8.2.7.1 Introduction
          8.2.8 Others
                   8.2.8.1 Introduction

9 Variable Frequency Drives, By Geography (Page No. - 99)
    9.1 Industry Overview
    9.2 Market Analysis
          9.2.1 VFD Market, By Geography
    9.3 Asia – Pacific to Drive the Global Market
          9.3.1 Introduction
          9.3.2 China
          9.3.3 Japan
          9.3.4 India
          9.3.5 Others
    9.4 Europe
          9.4.1 Germany
          9.4.2 Italy
          9.4.3 France
          9.4.4 U.K.
          9.4.5 Russia
          9.4.6 Others
    9.5 North America
          9.5.1 U.S.
    9.6 Latin America
          9.6.1 High Power Drives Analysis
    9.7 Middle East & Africa

10 Competitive Landscape (Page No. - 151)
     10.1 Introduction
     10.2 Key Players of Variable Frequency Drive Market
             10.2.1 List of Key Players
     10.3 Growth Strategies in the Variable Frequency Drive Market
     10.4 Most Active Companies in the Variable Frequency Drive Market
     10.5 New Product Launch
     10.6 Supply Contract
     10.7 Expansion
     10.8 Mergers & Acqusitions
     10.9 Awards & Recognition
     10.10 Market Rankings of the Industry Players

11 Company Profiles (Page No. - 193)
     11.1 ABB Ltd.
             11.1.1 Introduction
             11.1.2 Products & Services
             11.1.3 Strategy & Insights
             11.1.4 SWOT Analysis
             11.1.5 Developments
             11.1.6 MNM View
     11.2 American Electric Technologies Inc.
             11.2.1 Introduction
             11.2.2 Products & Services
             11.2.3 Strategy & Insights
             11.2.4 Developments
     11.3 Amtech Electronics India Ltd.
             11.3.1 Introduction
             11.3.2 Products & Services
             11.3.3 Strategy
             11.3.4 Developments
     11.4 Crompton Greaves
             11.4.1 Introduction
             11.4.2 Products & Services
             11.4.3 Strategy & Insights
             11.4.4 Developments
     11.5 Danfoss Vlt Drives
             11.5.1 Introduction
             11.5.2 Products
             11.5.3 Strategy & Insights
             11.5.4 SWOT Analysis
             11.5.5 Developments
             11.5.6 MNM View
     11.6 Eaton
             11.6.1 Introduction
             11.6.2 Products & Services
             11.6.3 Strategy & Insights
             11.6.4 Developments
     11.7 Emerson Industrial Automation
             11.7.1 Introduction
             11.7.2 Products & Services
             11.7.3 Strategy & Insights
             11.7.4 Developments
     11.8 Fuji Electric Co., Ltd.
             11.8.1 Introduction
             11.8.2 Products & Services
             11.8.3 Strategy & Insights
             11.8.4 Developments
     11.9 GE Energy Power Conversion
             11.9.1 Introduction
             11.9.2 Products & Services
             11.9.3 Strategy & Insights
             11.9.4 Developments
     11.10 Hiconics Drive Technology Co. Ltd.
             11.10.1 Introduction
             11.10.2 Products & Services
             11.10.3 Strategy & Insights
             11.10.4 Developments
     11.11 Hitachi Ltd.
             11.11.1 Introduction
             11.11.2 Products & Services
             11.11.3 Strategy & Insights
             11.11.4 Developments
     11.12 Honeywell International Inc.
             11.12.1 Introduction
             11.12.2 Products & Services
             11.12.3 Strategy & Insights
             11.12.4 Developments
     11.13 Johnson Controls Inc.
             11.13.1 Introduction
             11.13.2 Products & Services
             11.13.3 Strategy & Insights
             11.13.4 Developments
     11.14 KB Electronic Inc.
             11.14.1 Introduction
             11.14.2 Products & Services
             11.14.3 Strategy & Insights
             11.14.4 Developments
     11.15 Mitsubishi Electric Corporation
             11.15.1 Introduction
             11.15.2 Products & Services
             11.15.3 Strategy & Insights
             11.15.4 SWOT Analysis
             11.15.5 Developments
             11.15.6 MNM View
     11.16 Rockwell Automation Inc.
             11.16.1 Introduction
             11.16.2 Products & Services
             11.16.3 Strategy & Insights
             11.16.4 SWOT Analysis
             11.16.5 Developments
             11.16.6 MNM View
     11.17 Schneider Electric Sa
             11.17.1 Introduction
             11.17.2 Products & Services
             11.17.3 Strategy & Insights
             11.17.4 Developments
     11.18 Siemens AG
             11.18.1 Introduction
             11.18.2 Products & Services
             11.18.3 Strategy & Insights
             11.18.4 SWOT Analysis
             11.18.5 Developments
             11.18.6 MNM View
     11.19 toshiba International Corporation
             11.19.1 Introduction
             11.19.2 Products & Services
             11.19.3 Strategy & Insights
             11.19.4 Developments
     11.20 Vacon PLC
             11.20.1 Introduction
             11.20.2 Products & Services
             11.20.3 Strategy & Insights
             11.20.4 Developments
     11.21 Yaskawa Electric Corp.
             11.21.1 Introduction
             11.21.2 Products & Services
             11.21.3 Strategy & Insights
             11.21.4 Developments


List of Tables (96 Tables) 

Table 1 Global VFD Market Size, By Type 2012-2019 ($Million)
Table 2 AC Drives: Pros and Cons
Table 3 AC VFD Market Size, By Geography, 2012-2019 ($Million)
Table 4 DC Drives :Pros and Cons
Table 5 DC VFD Market Size, By Geography, 2012-2019 ($Million)
Table 6 Servo VFD Market Size, By Geography, 2012-2019 ($Million)
Table 7 VFD Market Size, By Power Range, 2012-2019 ($Million)
Table 8 Micro Power VFD Market Size, By Geography, 2012-2019 ($Million)
Table 9 Low Power VFD Market Size, By Geography, 2012-2019 ($Million)
Table 10 Medium Power VFD Market Size, By Geography, 2012-2019 ($Million)
Table 11 High Power VFD Market Size, By Geography, 2012-2019 ($Million)
Table 12 VFD Market Size, By Voltage Range, 2012-2019 ($Million)
Table 13 Low Voltage VFD Market Size, By Geography, 2012-2019 ($Million)
Table 14 Medium Voltage VFD Market Size, By Geography, 2012-2019 ($Million)
Table 15 VFD Market Size, By Application, 2012-2019 ($Million)
Table 16 Pumps Market Size, By Geography, 2012-2019 ($Million)
Table 17 Fans Market Size, By Geography, 2012-2019 ($Million)
Table 18 Compressors Market Size, By Geography, 2012-2019 ($Million)
Table 19 Conveyors Market Size, By Geography, 2012-2019 ($Million)
Table 20 Elevators Market Size, By Geography, 2012-2019 ($Million)
Table 21 Extruder Market Size, By Geography, 2012-2019 ($Million)
Table 22 Others Market Size, By Geography, 2012-2019 ($Million)
Table 23 Variable Frequency Drives Market Size, By Geography, 2012-2019 ($Million)
Table 24 Asia Pacific: Variable Frequency Drives Market Size, By Country, 2012-2019 ($ Million)
Table 25 Asia-Pacific: Market Size, By Power Range, 2012-2019 (‘000 Units)
Table 26 Asia-Pacific: Market Size, By Type, 2012-2019 ($Million)
Table 27 Asia-Pacific: Market, By Power Range, 2012-2019 ($Million)
Table 28 Asia-Pacific: Market Size, By Voltage Range, 2012-2019 ($Million)
Table 29 Asia-Pacific: Market Size, By Application, 2012-2019 ($Million)
Table 30 China: Variable Frequency Drives Market Size, By Power Range, 2012-2019 ($Million)
Table 31 China: Market Size, By Voltage Range, 2012-2019 ($Million)
Table 32 Japan: Market Size, By Power Range, 2012-2019 ($Million)
Table 33 Japan: Variable Frequency Drives Market Size, By Voltage Range, 2012-2019 ($Million)
Table 34 India: Variable Frequency Drives Market Size, By Power Range, 2012-2019 ($Million)
Table 35 India: Market Size, By Voltage Range, 2012-2019 ($Million)
Table 36 Others: Variable Frequency Drives Market Size, By Power Range, 2012-2019 ($Million)
Table 37 Others: Market Size, By Voltage Range, 2012-2019 ($Million)
Table 38 Europe: Variable Frequency Drive Market Size, By Country, 2012-2019 ($Million)
Table 39 Europe: Market Size, By Power Range , 2012-2019 (‘000 Units)
Table 40 Europe: Market Size, By Type, 2012-2019 ($Million)
Table 41 Europe: Market Size, By Power Range, 2012-2019 ($Million)
Table 42 Europe: Market Size, By Voltage, 2012-2019 ($Million)
Table 43 Europe : Market Size, By Application, 2012-2019 ($Million)
Table 44 Germany: Variable Frequency Drive Market Size, By Power Range, 2012-2019 ($Million)
Table 45 Italy: Variable Frequency Drive Market Size, By Power Range, 2012-2019 ($Million)
Table 46 France: Variable Frequency Drive Market Size, By Power Range, 2012-2019 ($Million)
Table 47 U.K.: Variable Frequency Drive Market Size, By Power Range, 2012-2019 ($Million)
Table 48 Russia: Variable Frequency Drive Market Size, By Power Range, 2012-2019 ($Million)
Table 49 Others: Variable Frequency Drive Market Size, By Power Range, 2012-2019 ($Million)
Table 50 North America: Variable Frequency Drive Market Size, By Country, 2012-2019 ($Million)
Table 51 North America: Market Size, By Type, 2012-2019 ($Million)
Table 52 North America: Market Size, By Voltage, 2012-2019 ($Million)
Table 53 North America: Market Size, By Power Range, 2012-2019 ($Million)
Table 54 North America: Market Size, By Power Range, 2012-2019 (‘000 Units)
Table 55 North America: Market Size, By Application, 2012-2019 ($Million)
Table 56 U.S.: Variable Frequency Drive Market Size, By Power Range, 2012-2019 ($Million)
Table 57 U.S.: Variable Frequency Drive Market Size, By Voltage Range, 2012-2019 ($Million)
Table 58 Latin America: Variable Frequency Drive Market Size, By Country, 2012-2019 ($Million)
Table 59 Latin America: Market Size, By Type, 2012-2019 ($Million)
Table 60 Latin America: Market Size, By Power Range, 2012-2019 ($Million)
Table 61 Latin America: Market Size, By Power Range, 2012-2019 (‘000 Units)
Table 62 Latin America: Market Size, By Application, 2012-2019 ($Million)
Table 63 Latin America : High Power Variable Frequency Drive Market Size, By Country, 2012-2019 ($Million)
Table 64 Middle East and Africa: Variable Frequency Drive Market Size, By Application, 2012-2019 ($Million)
Table 65 Middle East and Africa: Market Size, By Type, 2012-2019 ($Million)
Table 66 Middle East and Africa: Market Size, By Power Range, 2012-2019 ($Million)
Table 67 Middle East and Africa: Market Size, By Power Range, 2012-2019 (‘000 Units)
Table 68 Middle East and Africa: Market Size, By Voltage Range, 2012-2019 ($Million)
Table 69 New Product Launch Analysis, 2010-2014
Table 70 Supply Contract (2010-2014)
Table 71 Expansion, 2010-2014
Table 72 Mergers & Acqusitions, 2010-2014
Table 73 Other Developments, 2010-2014
Table 74 ABB Ltd.: Products & Its Features
Table 75 Aeti: Products & Its Features
Table 76 Amtech Electronics: Products & Services
Table 77 Crompton Greaves : Products & Its Features
Table 80 Danfoss: Products & Description
Table 81 Eaton: Products & Its Features
Table 82 Emerson Industrial Automation: Products & Its Features
Table 83 Fuji Electric : Products & Its Features
Table 84 GE Energy Power Conversion: Products & Its Features
Table 85 Hiconics Drive Technology: Products & Its Features
Table 86 Hitachi : Products & Its Features
Table 87 Honeywell International: Products & Its Features
Table 88 Jhonson Controls: Products & Its Features
Table 89 KB Electronic : Products & Its Features
Table 90 Mitsubishi Electric : Products & Its Features
Table 91 Rockwell Automation: Products & Its Features
Table 92 Schneider Electric: Products & Its Features
Table 93 Siemens AG : Products & Its Features
Table 94 Toshiba International : Products & Its Features
Table 95 Vacon : Products & Its Features
Table 96 Yaskawa Electric : Products & Its Features


List of Figures (40 Figures)

Figure 1 Research Methodology
Figure 2 Data Triangulation Methodology
Figure 3 VFD Market Size, By Geography, 2012-2019 ($Million)
Figure 4 Market Overview: Tree Structure
Figure 5 Variable Frequency Drives Market Size, 2012–2019 ($Million)
Figure 6 Global Variable Frequency Drives Market Size: Scenario of Different Regions
Figure 7 Variable Frequency Drives Market Size, By Type, 2012–2019 ($Million)
Figure 8 Regional Variable Frequency Drives Market, By Type 2014-2019 ($Million)
Figure 9 Variable Frequency Drives Market Size, By Voltage, 2012–2019 ($Million)
Figure 10 Regional Variable Frequency Drives Market, By Voltage 2014-2019 ($Million)
Figure 11 Variable Frequency Drives Market Size, By Power,2012–2019 ($Million)
Figure 12 Regional Variable Frequency Drives Market, By Power 2014-2019 ($Million)
Figure 13 Regional Variable Frequency Drives Market, By Application, 2014-2019 ($Million)
Figure 14 Electricity Generation & Consumption(2013-2019)
Figure 15 Variable Frequency Drive: Value Chain Analysis
Figure 16 Porter’s Five forces Model for VFD Market
Figure 17 Variable Frequency Drives Market Segmentation, By Type
Figure 18 VFD Market Share, By Type, 2013
Figure 19 VFD Market Share, By Types, 2019
Figure 20 VFD Market, By Power Range
Figure 21 VFD Market Share, By Power Range, 2013
Figure 22 VFD Market Share, By Power Range, 2019
Figure 23 VFD Market, By Voltage Range
Figure 24 VFD Market Share,  By Voltage Range, 2013
Figure 25 VFD Market Share,  By Voltage Range, 2019
Figure 26 VFD Market Segmentation, By Application
Figure 27 VFD Market Share, By Application, 2013
Figure 28 VFD Market Share, By Application, 2019
Figure 29 VFD Market Segmentation, By Geography
Figure 30 VFD Market Share (Value), By Geography, 2013
Figure 31 VFD Market Share (Value), By Geography, 2019
Figure 32 Variable Frequency Drive Market: Number of Developments, 2010-2014
Figure 33 Variable Frequency Drive Market Share, By Growth Strategy, 2010-2014
Figure 34 Variable Frequency Drive Market Development Share, By Key Player, 2010-2014
Figure 35 Annual New Product Launch Analysis, 2010-2014
Figure 36 Annual Supply Contarcts Analysis, 2010-2014
Figure 37 Annual Expansion Analysis ,2010-2014
Figure 38 Annual Mergers & Acqusitions Analysis, 2010-2014
Figure 39 Annual Awards & Recognition Analysis, 2013-2014
Figure 40 Variable Frequency Drive Market Share Analysis: By Company, 2013

The global variable frequency drives market is estimated to reach $22,732 million by 2019, with a projected CAGR of 6.4%, signifying a high demand for variable frequency drive and increasing concern for energy savings.

Variable Frequency Drives (VFD) is the device that is deployed alongside a motor to facilitate easier and efficient change of speed at a faster rate. These are used as energy savings units. The increasing consumption of electricity and rising process coupled with the growing infrastructural development in various regions across the globe are driving the VFD market. The increasing government support for energy savings and stringent environment regulations further fuels its growth. AC drives dominates the global variable frequency drive market with their wide applications. The major regions of the variable frequency drives market are Asia-Pacific, Latin America, and the Middle East and Africa, which constitute the most of the demand for this equipment.

Increasing Electricity Consumption and Prices: Driver of variable frequency drives market. The global VFD market has witnessed a decent growth, based on the increasing demand for electricity, and the rise in the infrastructural development in the growing economies across the globe. The biggest markets for variable frequency drives are Asia-Pacific, Europe, North America, and Latin America.

Variable Frequency Drives: Market Share, by Geography, 2014

Variable Frequency Drives Market

Source: MarketsandMarkets Analysis

ABB Ltd. (Switzerland), Siemens AG (Germany), Rockwell Automation (U.S.), Danfoss (Denmark), Mitsubishi Electric (Japan), and Schneider Electric (France) are the major players that constitute a major share of the global variable frequency drives market.

Product Differentiation: Key strategy

Most of these companies mainly rely on growth strategies such as supply contracts, joint ventures & contracts, mergers & acquisitions, and investments & expansions in diversified geographic areas. The market for variable frequency drives is technology driven and product differentiation plays a major part. To increase their market penetration and market share, companies go for new product launches to offer differentiated products to their customers.

The major variable frequency drives types include AC (Alternating Current), DC (Direct Current), and Servo. AC drives are the largest type in terms of market size.

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