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 a device which adjusts the speed and torque of the motor in electronic and electrical appliances. The device by adjusting the speed of the overall process in the system helps in meeting the process requirements. This helps in achieving optimum output for the system, thereby increasing its efficiency. It is also known as adjustable speed drive, variable speed drive, and inverter. It is used widely in all the industries where reduction in electricity consumption and energy savings is a prime concern. Factors driving the variable frequency drive market include need for energy efficiency, continuous increase in the consumption of electricity, development and modernization of infrastructure, stringent environmental regulations, and huge market potential for variable frequency drives.

Global variable frequency drive market size is estimated to be around USD 16.64 Billion in 2014 and is expected to grow at a CAGR of 6.4% during 2014-2019. Variable frequency drive market is segmented on the basis of type, power range, voltage, application, and region. The years considered for the study are:

  • Historical Year – 2012
  • Base Year – 2013
  • Estimated Year – 2014
  • Projected Year – 2019
  • Forecast Period – 2014 to 2019

For company profiles in the report, 2013 has been considered. Where information is unavailable for the base year, the prior year has been considered.

Research Methodology

This research study involves extensive usage of secondary sources, directories, and databases (such as Hoovers, Bloomberg, Businessweek, Factiva, and OneSource) to identify and collect information useful for this technical, market-oriented, and commercial aspects of variable frequency drives. The below explain the research methodology.

  • Analysis of country-wise industrial automation growth rate for the past three years
  • Estimation of cost of variable frequency drive in various regions using the cost variance models
  • Secondary has been conducted to find out variable frequency drives based on type, voltage and power range required across different industries and the commercial sector
  • Analysing market trends in various regions/ and countries supported by the on-going industrial activities and developing infrastructure
  • Overall market size values are finalized by triangulation with the supply side data which include the product developments, supply chain and annual shipments of VFD’s across the globe

After arriving at the overall market size the total market has been split into several segments and sub-segments. The figure below shows the break-down of the primaries on the basis of company, designation, and region, conducted during the research study.

Variable Frequency Drives Market

Variable Frequency Drives Market

This market report caters to variable frequency drive manufacturers, dealers, and suppliers, material providers, consulting companies in the energy and power sector, infrastructure developers, government and research organizations, government and private companies, venture capital firms, and investment banks.

Scope of the Report:

  • By Type
    • AC Drive
    • DC Drive
    • Servo Drive
  • By Power Range
    • Micro
    • Low
    • Medium
    • High
  • By Application
    • Pump
    • Fan
    • Compressor
    • Conveyor
    • Elevator
    • Extruder
    • Others
  • By Region
    • North America
    • Latin America
    • Europe
    • APAC
    • The Middle East & Africa

Market share analysis, by revenue, of the top companies is also included in the report. The scope accordingly aids market participants to identify high growth markets and help managing key investment decisions. For this report, major players in the variable frequency drive market have been identified via various primary and secondary sources, which include annual reports of top market players, interviews with key opinion leaders such as CEOs, directors, and marketing people.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the Company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of VFD market into countries by application

Company Information

  • Detailed analysis and profiling of additional market players (Up-to 5)

Table of Contents 
 
1 Introduction (Page No. - 20)
    1.1 Objectives
    1.2 Analyst Insights
    1.3 Market Segmentation and Markets Covered
    1.4 Stakeholders
    1.5 Research Methodology
          1.5.1 Approach
          1.5.2 Market Size Estimation
          1.5.3 Market Crackdown & Data Triangulation
          1.5.4 Key Data Taken From Secondary Sources
          1.5.5 Key Secondary Sources Used
          1.5.6 Key Data Taken From Primary Sources
          1.5.7 Assumptions Made for This Report

2 Executive Summary (Page No. - 29)

3 Market Overview (Page No. - 33)
    3.1 Introduction
    3.2 Market Statistics
          3.2.1 Global Variable Frequency Drives Market
          3.2.2 Submarkets
                   3.2.2.1 Regional Trends in VFD Market
                   3.2.2.2 Trends Within Types of Variable Frequency Drives
                                3.2.2.2.1 Regional Trends for Variable Frequency Drives(By Type)
                   3.2.2.3 Trends for Variable Frequency Drives Market
                                3.2.2.3.1 Regional Trends for Variable Frequency Drives Market(By Voltage)
                   3.2.2.4 Power Drive Trends in the VFD Market
                                3.2.2.4.1 Regional Trends for Variable Frequency Drives Market(By Power)
                   3.2.2.5 Global End-Use Sector VFD Market Trends
                                3.2.2.5.1 Regional Trends for Variable Frequency Drives, (By Application)

4 Market Analysis (Page No. - 46)
    4.1 Market Dynamics
          4.1.1 Drivers
                   4.1.1.1 Need for Energy Efficiency
                   4.1.1.2 Continuous Increase in the Consumption of Electricity
                   4.1.1.3 Development and Modernization of Infrastructure
                   4.1.1.4 Stringent Environmental Regulations
                   4.1.1.5 Increasing Awareness About Advantages of Drives
          4.1.2 Restraints
                   4.1.2.1 Implementation Costs
                   4.1.2.2 Lag in Implementation of Standards and Directives
          4.1.3 Opportunity
                   4.1.3.1 Huge Market Potential for VFDs
          4.1.4 Burning Issues
                   4.1.4.1 Noise Radiated From VFD Systems
                   4.1.4.2 Generation of Electromagnetic and Radio Frequency interference
          4.1.5 Winning Imperative
                   4.1.5.1 New Product Launch Is the Key Winning Imperative for the VFD Market
    4.2 Value Chain Analysis
          4.2.1 Raw Materials
          4.2.2 Variable Frequency Drive Manufacturers
          4.2.3 End-Users
    4.3 Porter’s Five forces Analysis
          4.3.1 Buyers Power
          4.3.2 Suppliers Power
          4.3.3 Threat of New Entrants
          4.3.4 Threat of Substitutes
          4.3.5 Degree of Competition

5 Variable Frequency Drives Market, By Type (Page No. - 63)
    5.1 Introduction
    5.2 Market Analysis
          5.2.1 AC Drives to Boost VFD Market
          5.2.2 AC Drives
                   5.2.2.1 Introduction
                   5.2.2.2 Asia-Pacific – to Lead the Market
          5.2.3 DC Drives
                   5.2.3.1 Introduction
                   5.2.3.2 Market Analysis
          5.2.4 Servo Drives
                   5.2.4.1 Introduction
                   5.2.4.2 Market Analysis

6 Market By Power & Voltage Range (Page No. - 74)
    6.1 Power Range
          6.1.1 Market Segmentation
          6.1.2 Market Analysis
                   6.1.2.1 Segment Analysis
                   6.1.2.2 Micro Power Drive
                               6.1.2.2.1 Introduction
                   6.1.2.3 Low Power Drives
                               6.1.2.3.1 Introduction
                   6.1.2.4 Medium Power Drives
                               6.1.2.4.1 Introduction
                   6.1.2.5 High Power Drives
                               6.1.2.5.1 Introduction
    6.2 Voltage Range
          6.2.1 Market Segmentation
          6.2.2 Market Analysis
                  6.2.2.1 Low Voltage Drive Dominate VFD Market By Voltage Range 
                  6.2.2.2 Low Voltage
                            6.2.2.2.1 Introduction
                  6.2.2.3 Medium Voltage
                            6.2.2.3.1 Introduction

7 Market By Application (Page No. - 92)
    7.1 Industry Overview
    7.2 Market Analysis
          7.2.1 Pump Application to Exhibit Maximum Growth
          7.2.2 Pumps Application Market
                   7.2.2.1 Introduction
          7.2.3 Fans Application Market
                   7.2.3.1 Introduction
          7.2.4 Compressors Application Market
                   7.2.4.1 Introduction
          7.2.5 Conveyor Application Market
                   7.2.5.1 Introduction
          7.2.6 Elevators Application Market
                   7.2.6.1 Introduction
          7.2.7 Extruder Application Market
                   7.2.7.1 Introduction
          7.2.8 Others
                   7.2.8.1 Introduction

8  Market By Geography (Page No. - 108)
    8.1 Industry Overview
    8.2 Market Analysis
          8.2.1 VFD Market Analysis, By Geography
    8.3 Asia–Pacific to Drive the Global Market
          8.3.1 Introduction
          8.3.2 China
          8.3.3 Japan
          8.3.4 India
          8.3.5 Others
    8.4 Europe
          8.4.1 Germany
          8.4.2 Italy
          8.4.3 France
          8.4.4 U.K.
          8.4.5 Russia
          8.4.6 Others
    8.5 North America
          8.5.1 U.S.
    8.6 Latin America
          8.6.1 High Power Drives Analysis
    8.7 Middle East & Africa

9 Competitive Landscape (Page No. - 159)
    9.1 Introduction
    9.2 Key Players of Variable Frequency Drive Market
          9.2.1 List of Key Players
    9.3 Growth Strategies in the Variable Frequency Drive Market
    9.4 Most Active Companies in the Variable Frequency Drive Market
    9.5 New Product Launch
    9.6 Supply Contract
    9.7 Expansions
    9.8 Mergers & Acqusitions
    9.9 Market Rankings of the Industry Players

10 Company Profiles (Page No. - 198)
     (Company At A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)* 
     10.1 ABB Ltd.
     10.2 American Electric Technologies Inc.
     10.3 Amtech Electronics India Ltd.
     10.4 Crompton Greaves
     10.5 Danfoss Vlt Drives
     10.6 Eaton
     10.7 Emerson Industrial Automation
     10.8 Fuji Electric Co., Ltd.
     10.9 Ge Energy Power Conversion
     10.10 Hiconics Drive Technology Co. Ltd.
     10.11 Hitachi Ltd.
     10.12 Honeywell International Inc.
     10.13 Johnson Controls Inc.
     10.14 Kb Electronic Inc.
     10.15 Mitsubishi Electric Corporation
     10.16 Rockwell Automation Inc.
     10.17 Schneider Electric Sa
     10.18 Siemens AG
     10.19 Toshiba International Corporation
     10.20 Vacon PLC
     10.21 Yaskawa Electric Corp.

*Details on Company At A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies. 
 
 
List of Tables (98 Tables) 

Table 1 Impact Analysis of Major Drivers on Global VFD Market, 2014–2019
Table 2 Impact Analysis of Major Restraints on Global VFD Market, (2014–2019)
Table 3 Impact Analysis of Major Burning Issues on Global VFD Market, 2014–2019
Table 4 Global VFD Market Size, By Type, 2012-2019 ($Million)
Table 5 AC Drives: Pros and Cons
Table 6 AC VFD Market Size, By Geography, 2012-2019 ($Million)
Table 7 DC Drives :Pros and Cons
Table 8 DC VFD Market Size, By Geography, 2012-2019 ($Million)
Table 9 Servo VFD Market Size, By Geography, 2012-2019 ($Million)
Table 10 VFD Market Size, By Power Range, 2012-2019 ($Million)
Table 11 Micro Power VFD Market Size, By Geography, 2012-2019 ($Million) 
Table 12 Low Power VFD Market Size, By Geography, 2012-2019 ($Million) 
Table 13 Medium Power VFD Market Size, By Geography, 2012-2019 ($Million) 
Table 14 High Power VFD Market Size, By Geography, 2012-2019 ($Million) 
Table 15 VFD Market Size, By Voltage Range, 2012-2019 ($Million)
Table 16 Variable Frequency Drives Market Size, By Voltage, 2012-2019 (000’ Units) 
Table 17 Low Voltage VFD Market Size, By Geography, 2012-2019 ($Million) 
Table 18 Medium Voltage VFD Market Size, By Geography, 2012-2019 ($Million) 
Table 19 VFD Market Size, By Application, 2012-2019 ($Million)
Table 20 Pumps Market Size, By Geography, 2012-2019 ($Million)
Table 21 Fans Market Size, By Geography, 2012-2019 ($Million)
Table 22 Compressors Market Size, By Geography, 2012-2019 ($Million)
Table 23 Conveyors Market Size, By Geography, 2012-2019 ($Million)
Table 24 Elevators Market Size, By Geography, 2012-2019 ($Million)
Table 25 Extruder Market Size, By Geography, 2012-2019 ($Million)
Table 26 Others Market Size, By Geography, 2012-2019 ($Million)
Table 27 Variable Frequency Drives Market Size, By Geography, 2012-2019 ($Million) 
Table 28 Market Size, By Geography, 2012-2019 (000’ Units) 
Table 29 Asia Pacific Variable Frequency Drives Market Size, By Country, 2012-2019 ($Million) 
Table 30 Asia-Pacific: Market Size(Volume), By Power Range, 2012-2019 (‘000 Units)
Table 31 Asia-Pacific: Market Size, By Type, 2012-2019 ($Million)
Table 32 Asia-Pacific: Market, By Power Range, 2012-2019 ($Million)
Table 33 Asia-Pacific: Market Size, By Voltage Range, 2012-2019 ($Million) 
Table 34 Asia-Pacific: Market Size, By Application, 2012-2019 ($Million) 
Table 35 China Variable Frequency Drives Market Size, By Power Range, 2012-2019 ($Million)
Table 36 China: Market Size, By Voltage Range, 2012-2019 ($Million)
Table 37 Japan: Market Size, By Power Range, 2012-2019 ($Million)
Table 38 Japan: Market Size, By Voltage Range, 2012-2019 ($Million)
Table 39 India: Market Size, By Power Range, 2012-2019 ($Million)
Table 40 India: Market Size, By Voltage Range, 2012-2019 ($Million)
Table 41 Others: Market Size, By Power Range, 2012-2019 ($Million)
Table 42 Others: Market Size, By Voltage Range, 2012-2019 ($Million)
Table 43 Europe: Variable Frequency Drives Market Size, By Country, 2012-2019 ($Million)
Table 44 Europe: Market Size, By Power Range, 2012-2019 (‘000 Units)
Table 45 Europe: Market Size, By Type, 2012-2019 ($Million) 
Table 46 Europe: Market Size, By Power Range, 2012-2019 ($Million)
Table 47 Europe: Market Size, By Voltage, 2012-2019 ($Million)
Table 48 Europe: Market Size, By Application, 2012-2019 ($Million) 
Table 49 Germany: Variable Frequency Drives Market Size, By Power Range, 2012-2019 ($Million)
Table 50 Italy: Market Size, By Power Range, 2012-2019 ($Million)
Table 51 France: Market Size, By Power Range, 2012-2019 ($Million)
Table 52 U.K.: Market Size, By Power Range, 2012-2019 ($Million)
Table 53 Russia: Market Size, By Power Range, 2012-2019 ($Million)
Table 54 Others: Market Size, By Power Range, 2012-2019 ($Million)
Table 55 North America: Variable Frequency Drives Market Size, By Country, 2012-2019 ($Million) 
Table 56 North America: Market Size, By Type, 2012-2019 ($Million) 
Table 57 North America: Market Size, By Voltage, 2012-2019 ($Million) 
Table 58 North America: Market Size, By Power Range, 2012-2019 ($Million) 
Table 59 North America: Market Size, By Power Range, 2012-2019 (‘000 Units) 
Table 60 North America: Market Size, By Application, 2012-2019 ($Million) 
Table 61 U.S.: Market Size, By Power Range, 2012-2019 ($Million)
Table 62 U.S.: Market Size, By Voltage Range, 2012-2019 ($Million)
Table 63 Latin America: Variable Frequency Drives Market Size, By Country, 2012-2019 ($Million) 
Table 64 Latin America: Market Size, By Type, 2012-2019 ($Million)
Table 65 Latin America: Market Size, By Power Range, 2012-2019 ($Million) 
Table 66 Latin America: Market Size, By Power Range, 2012-2019 (‘000 Units) 
Table 67 Latin America: Market Size, By Application, 2012-2019 ($Million) 
Table 68 Latin America: High Power Variable Frequency Drive Market Size, By Country, 2012-2019 ($Million)
Table 69 Middle East and Africa: Market Size, By Application, 2012-2019 ($Million)
Table 70 Middle East and Africa: Market Size, By Type, 2012-2019 ($Million)
Table 71 Middle East and Africa: Market Size, By Power Range, 2012-2019 ($Million)
Table 72 Middle East and Africa: Market Size, By Power Range, 2012-2019 (‘000 Units)
Table 73 Middle East and Africa: Variable Frequency Drives Market Size, By Voltage Range, 2012-2019 ($Million)
Table 74 New Product Launch, 2010-2014
Table 75 Supply Contract
Table 76 Expansions
Table 77 Mergers & Acqusitions
Table 78 ABB Ltd.: Products & Its Features
Table 79 Aeti: Products & Its Features
Table 80 Amtech Electronics: Products & Services
Table 81 Crompton Greaves: Products & Its Features
Table 82 Danfoss: Products & Description
Table 83 Eaton: Products & Its Features
Table 84 Emerson Industrial Automation: Products & Its Features
Table 85 Fuji Electric: Products & Its Features
Table 86 Ge Energy Power Conversion: Products & Its Features
Table 87 Hiconics Drive Technology: Products & Its Features
Table 88 Hitachi: Products & Its Features
Table 89 Honeywell International: Products & Its Features
Table 90 Jhonson Controls: Products & Its Features
Table 91 KB Electronic: Products & Its Features
Table 92 Mitsubishi Electric: Products & Its Features
Table 93 Rockwell Automation: Products & Its Features
Table 94 Schneider Electric: Products & Its Features
Table 95 Siemens AG: Products & Its Features
Table 96 Toshiba International: Products & Its Features
Table 97 Vacon: Products & Its Features
Table 98 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 Market Size: Scenario of Different Regions
Figure 7 Market Size, By Type, 2012–2019 ($Million) 
Figure 8 Regional Variable Frequency Drives Market, By Type 2014-2019 ($Million) 
Figure 9 Market Size, By Voltage, 2014–2019 ($Million) 
Figure 10 Regional Market, By Voltage 2014-2019 ($Million) 
Figure 11 Market Size, By Power, 2014–2019 ($Million) 
Figure 12 Regional Market, By Power 2014-2019 ($Million) 
Figure 13 Regional Market, By Application, 2014-2019 ($Million)
Figure 14 Electricity Prices By Country (2011-2013)
Figure 15 Electricity Generation & Consumption (2013-2019)
Figure 16 Variable Frequency Drive: Value Chain Analysis
Figure 17 Porter’s Five forces Model for VFD Market
Figure 18 Variable Frequency Drives Market Segmentation, By Type
Figure 19 VFD Market Share(Value), By Type, 2013
Figure 20 VFD Market Share, By Type, 2019
Figure 21 VFD Market, By Power Range
Figure 22 VFD Market Share(Value), By Power Range, 2013
Figure 23 VFD Market Share(Value), By Power Range, 2019
Figure 24 VFD Market, By Voltage Range
Figure 25 VFD Market Share, By Voltage Range, 2013
Figure 26 VFD Market Share, By Voltage Range, 2019
Figure 27 VFD Market Segmentation, By Application
Figure 28 VFD Market Share(Value), By Application, 2013
Figure 29 VFD Market Share, By Application, 2019
Figure 30 VFD Market Segmentation, By Geography
Figure 31 VFD Market Share (Value), By Geography, 2013
Figure 32 VFD Market Share (Value), By Geography, 2019
Figure 33 Variable Frequency Drive Market: Number of Developments, 2010-2014
Figure 34 Variable Frequency Drive Market Share, By Growth Strategy, 2010-2014
Figure 35 Variable Frequency Drive Market Development Share, By Key Player, 2010-2014
Figure 36 New Product Launch Analysis, 2010-2014
Figure 37 Supply Contracts Analysis, 2010-2014
Figure 38 Expansions Analysis,2010-2014
Figure 39 Mergers & Acqusitions Analysis, 2010-2014
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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