HOME Top Market Reports Variable Frequency Drive Market by Type (AC, DC, and Servo), End-Users (Industrial, Infrastructure, Oil & Gas, and Power Generation), Application (Pumps, Fans, Compressors, Conveyors, Extruders), Power Range, Voltage, and Region - Global Forecast to 2021

Variable Frequency Drive Market by Type (AC, DC, and Servo), End-Users (Industrial, Infrastructure, Oil & Gas, and Power Generation), Application (Pumps, Fans, Compressors, Conveyors, Extruders), Power Range, Voltage, and Region - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: February 2017
Report Code: EP 2653

 

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The global variable frequency drive market was valued at USD 17.66 Billion in 2015, and is expected to grow at a CAGR of 5.94% from 2016 to 2021.

The years considered for the study are as follows:

  • Base Year – 2015
  • Estimated Year – 2016
  • Projected Year – 2021
  • Forecast Period – 2016 to 2021

2015 has been considered as the base year for company profiles. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define, describe, and forecast the global variable frequency drive market on the basis of type, application, voltage, power range, and region
  • To provide detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the variable frequency drive market with respect to individual growth trends, future expansions, and contribution to the market
  • To analyze market opportunities for stakeholders, and details of a competitive landscape for market leaders
  • To forecast the growth of the variable frequency drive market with respect to the major geographical regions (Asia-Pacific, Europe, North America, South America, Middle East, and Africa)
  • To strategically profile key players, and comprehensively analyze their market shares and core competencies
  • To analyze competitive developments, such as expansion & investment, mergers & acquisitions, new product launches, contracts & agreements, and joint ventures & collaborations, in the variable frequency drive market

Research Methodology

This research study involved the use of extensive secondary sources, directories, and databases such as Hoovers, Bloomberg, Businessweek, Factiva, and OneSource to identify and collect information for a technical, market-oriented, and commercial study of the global variable frequency drive market. Primary sources are mainly several industry experts from core and related industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, standards and certification organizations from companies, and organizations related to all the segments of this industry’s value chain.  The points given below explain the research methodology.

  • Study of annual revenue and market developments of major players providing VFD
  • Analysis of major applications of and demand for VFD from end-users
  • Assessment of future trends and growth of end-users
  • Assessment of the variable frequency drive market with respect to the power range of each type of VFD used for different applications
  • Analysis of market trends in various regions/countries by studying the application of VFD in water & waste water, mining, oil & gas, food and beverage, pharmaceuticals, chemical, and other process & infrastructure industries.
  • Study of contracts and developments related to VFD by key players across different regions
  • Finalization of overall market sizes by triangulating the supply-side data, which includes product developments, supply chain, and annual revenues of companies manufacturing VFD across the globe

After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure given below illustrates the breakdown of primaries conducted during the research study based on company type, designation, and region.

Variable Frequency Drives Market

To know about the assumptions considered for the study, download the pdf brochure

Market Ecosystem:

The VFD ecosystem comprises of power and automation technology companies such as  ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric (France), Danfoss (Denmark), Rockwell Automation, Inc. (U.S.), WEG (Brazil), Yaskawa Electric Corporation (Japan), Eaton Corporation Plc. (Ireland), General Electric (U.S.), Emerson Electric Co. (U.S.), Hitachi, Ltd. (Japan), Crompton Greaves (India), Mitsubishi Electric Corporation (Japan), Fuji Electric Co., Ltd. (Japan), among others who integrate the VFD and sell them to end-users to cater to their unique business requirements.

Target Audience:

The target audience of this report includes:

  • VFD manufacturing companies
  • State and national regulatory authorities
  • Builders and contractors
  • Process and manufacturing plants
  • Power distribution utilities
  • Government and industry associations
  • State- or government-owned corporations
  • Investment and consulting firms

Scope of the Report:

  • By Power range
    • Micro power drives
    • Lower power drives
    • Medium power drives
    • High power drives
  • By Voltage
    • Low Voltage
    • Medium Voltage
  • By Type
    • AC Drives
    • DC Drives
    • Servo Drives
  • By Application
    • Pumps
    • Fans
    • Compressors
    • Conveyors
    • Extruders
    • Others*
  • By End-User Application
    • Industrial
    • Infrastructure
    • Oil & Gas
    • Power Generation
  • By Region
    • Asia-Pacific
    • Europe
    • North America
    • South America
    • Middle East
    • Africa

Available Customizations:

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

Regional Analysis

Further breakdown of region/country-specific analysis

Company Information

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

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 28)
    3.1 Historical Backdrop
    3.2 Current Scenario
    3.3 Future Outlook
    3.4 Conclusion

4 Premium Insights (Page No. - 34)
    4.1 Variable Frequency Drives Market, By Voltage
    4.2 Variable Frequency Drives Market, By Type
    4.3 Asia-Pacific: the Largest Market During the Forecast Period
    4.4 Variable Frequency Drives, By Power Range
    4.5 Variable Frequency Drives, By Application

5 Market Overview (Page No. - 38)
    5.1 Introduction
    5.2 Variable Frequency Drives: Market Segmentation
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Urbanization and Industrialization
                    5.3.1.2 Rising Need for Energy Efficiency
                    5.3.1.3 Government Regulations
           5.3.2 Restraints
                    5.3.2.1 Decrease in Greenfield Investment
           5.3.3 Opportunities
                    5.3.3.1 Huge Opportunity in the Replacement Sector
                    5.3.3.2 Industrial Internet of Things (IIoT)
           5.3.4 Challenges
                    5.3.4.1 Regional-Level Competition From Local Players

6 Variable Frequency Drives Market, By Type (Page No. - 45)
    6.1 Introduction
    6.2 Alternative Current (AC) Variable Frequency Drives
    6.3 Direct Current (DC) Variable Frequency Drives
    6.4 Servo Variable Frequency Drives

7 Variable Frequency Drives Market, By End-User (Page No. - 49)
    7.1 Introduction
    7.2 Oil & Gas
    7.3 Power Generation
    7.4 Industrial
    7.5 Infrastructure

8 Variable Frequency Drives Market, By Voltage (Page No. - 54)
    8.1 Introduction
    8.2 Low Voltage Variable Frequency Drives
    8.3 Medium Voltage Variable Frequency Drives

9 Variable Frequency Drive Market, By Power Range (Page No. - 58)
    9.1 Introduction
    9.2 Micro Power Drives
    9.3 Low Power Drives
    9.4 Medium Power Drives
    9.5 High Power Drives

10 Variable Frequency Drives Market, By Application (Page No. - 63)
     10.1 Introduction
     10.2 Pumps
     10.3 Fans
     10.4 Compressors
     10.5 Conveyors
     10.6 Extruders
     10.7 Other End-Users

11 Variable Frequency Drives Market, By Region (Page No. - 70)
     11.1 Introduction
     11.2 Asia-Pacific
             11.2.1 By Voltage
             11.2.2 By Application
             11.2.3 By Power Range
             11.2.4 By Country
                        11.2.4.1 China
                        11.2.4.2 Japan
                        11.2.4.3 India
                        11.2.4.4 South Korea
                        11.2.4.5 Indonesia
                        11.2.4.6 Australia
                        11.2.4.7 Rest of Asia-Pacific
     11.3 Europe
             11.3.1 By Voltage
             11.3.2 By Application
             11.3.3 By Power Range
             11.3.4 By Country
                        11.3.4.1 Germany
                        11.3.4.2 France
                        11.3.4.3 Russia
                        11.3.4.4 U.K.
                        11.3.4.5 Italy
                        11.3.4.6 Spain
                        11.3.4.7 Rest of Europe
     11.4 North America
             11.4.1 By Voltage
             11.4.2 By Application
             11.4.3 By Power Range
             11.4.4 By Country
                        11.4.4.1 U.S.
                        11.4.4.2 Canada
                        11.4.4.3 Mexico
     11.5 Middle East
             11.5.1 By Voltage
             11.5.2 By Application
             11.5.3 By Power Range
             11.5.4 By Country
                        11.5.4.1 Saudi Arabia
                        11.5.4.2 UAE
                        11.5.4.3 Qatar
                        11.5.4.4 Oman
                        11.5.4.5 Kuwait
                        11.5.4.6 Rest of Middle East
     11.6 South America
             11.6.1 By Voltage
             11.6.2 By Application
             11.6.3 By Power Range
             11.6.4 By Country
                        11.6.4.1 Brazil
                        11.6.4.2 Argentina
                        11.6.4.3 Chile
                        11.6.4.4 Rest of South America
     11.7 Africa
             11.7.1 By Voltage
             11.7.2 By Application
             11.7.3 By Power Range
             11.7.4 By Country
                        11.7.4.1 Egypt
                        11.7.4.2 Nigeria
                        11.7.4.3 South Africa
                        11.7.4.4 Rest of Africa

12 Competitive Landscape (Page No. - 103)
     12.1 Overview
     12.2 Market Share Analysis, By Value, 2015
     12.3 Competitive Situation & Trends
     12.4 Contracts & Agreements
     12.5 Expansions & Investments
     12.6 New Product Developments
     12.7 Mergers & Acquisitions

13 Company Profiles (Page No. - 110)
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
     13.1 Introduction
     13.2 ABB Ltd
     13.3 Siemens AG
     13.4 Schneider Electric Se
     13.5 Danfoss
     13.6 Rockwell Automation
     13.7 WEG SA
     13.8 Yaskawa Electric Corp
     13.9 Eaton
     13.10 General Electric
     13.11 Emerson Electric Co.
     13.12 Hitachi
     13.13 Crompton Greaves
     13.14 Mitsubishi Heavy Industries, Ltd.
     13.15 Fuji Electric Co.
     13.16 Toshiba

*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 159)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Available Customizations
     14.5 Introducing RT: Real-Time Market Intelligence
     14.6 Related Reports
     14.7 Author Details


List of Tables (84 Tables)

Table 1 Variable Frequency Drives Market, By Type, 2014–2021 (USD Million)
Table 2 Alternative Current (AC): Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 3 Direct Current (DC) : Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 4 Servo Drives : Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 5 Variable Frequency Drives Market Size, By End-User, 2014–2021 (USD Million)
Table 6 Oil & Gas: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 7 Power Generation: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 8 Industrial: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 9 Infrastructure: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 10 Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 11 Low Voltage: Variable Frequency Drive Market Size, By Region, 2014–2021 (USD Million)
Table 12 Medium Voltage: Variable Frequency Market Size, By Region, 2014–2021 (USD Million)
Table 13 Variable Frequency Drives Market Size, By Power Range, 2014–2021 (USD Million)
Table 14 Micro Power Drives: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 15 Low Power Drives: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 16 Medium Power Drives: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 17 High Power Drives: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 18 Global Variable Frequency Drives Market Size, By Application, 2014–2021 (USD Million)
Table 19 Pumps: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 20 Fans: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 21 Compressors: Variable Frequency Drives Market Size, By Region, 2014-2021 (USD Million)
Table 22 Conveyors: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 23 Extruders: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 24 Other End-Users: Variable Frequency Drives Market, By Region, 2014–2021 (USD Million)
Table 25 Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 26 Asia-Pacific: Variable Frequency Drives Market Size, By Voltage 2014–2021 (USD Million)
Table 27 Asia-Pacific: Variable Frequency Drives Market Size, By Application, 2014–2021 (USD Million)
Table 28 Asia-Pacific: Variable Frequency Drives Market Size, By Power Range, 2014–2021 (USD Million)
Table 29 Asia-Pacific: Variable Frequency Drives Market Size, By Country, 2014–2021 (USD Million)
Table 30 China: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 31 Japan: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 32 India: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 33 South Korea: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 34 Indonesia: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 35 Australia: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 36 Rest of Asia-Pacific: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 37 Europe: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 38 Europe: Variable Frequency Drives Market Size, By Application, 2014–2021 (USD Million)
Table 39 Europe: Variable Frequency Drives Market Size, By Power Range, 2014–2021 (USD Million)
Table 40 Europe: Variable Frequency Drives Market Size, By Country, 2014–2021 (USD Million)
Table 41 Germany: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 42 France: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 43 Russia: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 44 U.K.: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 45 Italy: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 46 Spain: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 47 Rest of Europe: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 48 North America: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 49 North America: Variable Frequency Drives Market Size, By Application 2014–2021 (USD Million)
Table 50 North America: Variable Frequency Drives Market Size, By Power Range, 2014–2021 (USD Million)
Table 51 North America: Variable Frequency Drives Market Size, By Country, 2014–2021 (USD Million)
Table 52 U.S.: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 53 Canada: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 54 Mexico: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 55 Middle East: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 56 Middle East: Variable Frequency Drives Market Size, By Application, 2014–2021 (USD Million)
Table 57 Middle East: Variable Frequency Drives Market Size, By Power Range, 2014–2021 (USD Million)
Table 58 Middle East: Variable Frequency Drives Market Size, By Country, 2014–2021 (USD Million)
Table 59 Saudi Arabia: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 60 UAE: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 61 Qatar: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 62 Oman: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 63 Kuwait: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 64 Rest of Middle East: Variable Frequency Drives Market Size, By Type, 2014–2021 (USD Million)
Table 65 South America: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 66 South America: Variable Frequency Drives Market Size, By Application, 2014–2021 (USD Million)
Table 67 South America: Variable Frequency Drives Market Size, By Power Range, 2014–2021 (USD Million)
Table 68 South America: Variable Frequency Drives Market Size, By Country, 2014–2021 (USD Million)
Table 69 Brazil: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 70 Argentina: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 71 Chile: Variable Frequency Drives Market Size, By Voltage 2014–2021 (USD Million)
Table 72 Rest of South America: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 73 Africa: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 74 Africa: Variable Frequency Drives Market Size, By Application, 2014–2021 (USD Million)
Table 75 Africa: Variable Frequency Drives Market Size, By Power Range, 2014–2021 (USD Million)
Table 76 Africa: Variable Frequency Drives Market Size, By Country, 2014–2021 (USD Million)
Table 77 Egypt: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 78 Nigeria: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 79 South Africa: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 80 Rest of Africa: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 81 Contracts & Agreements, 2015-2016
Table 82 Expansions and Investments, 2014-2016
Table 83 New Product Developments, 2013–2016
Table 84 Mergers & Acquisitions, 2013-2016


List of Figures (49 Figures)

Figure 1 Market Segmentation: Variable Frequency Drives Market
Figure 2 Countries Covered
Figure 3 Variable Frequency Drives: Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Asia-Pacific Occupied the Largest Market Share in 2016
Figure 8 Variable Frequency Drives Market Size, By Voltage, 2016 and 2021 (USD Billion)
Figure 9 The Low Power Drives Segment is Estimated to Be the Largest Power Range in 2016 and is Projected to Remain So Till 2021
Figure 10 AC Drives are Expected to Account for the Maximum Size During the Forecast Period
Figure 11 The Compressors, By Application, Segment is Expected to Account for the Maximum Size During the Forecast Period
Figure 12 Variable Frequency Drives Market Snapshot: Asia-Pacific is Expected to Be the Largest Market During the Forecast Period
Figure 13 Top Market Development (2014–2015)
Figure 14 Attractive Market Opportunities in the Variable Frequency Drives Market During the Forecast Period
Figure 15 Low Voltage Drives to Dominate the VFD Market During the Forecast Period
Figure 16 The AC Drives Segment is Estimated to Be the Largest Segment of the Variable Frequency Drives Market By 2021
Figure 17 Asia-Pacific is Expected to Grow at the Fastest Pace During the Forecast Period
Figure 18 The Low Power Range Segment is Expected to Have the Largest Share of the Variable Frequency Drives Market From 2016 to 2021
Figure 19 Pumps are Projected to Be the Largest Application for the Variable Frequency Drives Market During the Forecast Period
Figure 20 Variable Frequency Drives Market Segmentation: By Type, Application, End-Use Application, Voltage, Power Range, and Region
Figure 21 Market Dynamics for Variable Frequency Drives Market
Figure 22 Urbanization Trend, 2010–2015
Figure 23 Global Electricity Consumption, 2011–2015
Figure 24 Crude Oil Price Trend, 2010–2016
Figure 25 Low Voltage Variable Frequency Drives Held the Largest Market Share in 2015
Figure 26 Medium Voltage Variable Frequency Drives are Expected to Grow at the Highest CAGR During the Forecast Period
Figure 27 China and India are Expected to Grow at the Highest CAGR From 2016 to 2021
Figure 28 Regional Snapshot: Asia-Pacific Offered Attractive Market Opportunities, in 2015
Figure 29 Regional Snapshot: Europe Was the Second Largest Market, in 2015
Figure 30 Companies Adopted Contracts & Agreements as the Key Growth Strategy, 2013-2016
Figure 31 ABB Accounted for the Maximum Share in the Variable Frequency Drive Market in 2014
Figure 32 Market Evaluation Framework
Figure 33 Battle for Market Share: Contracts & Agreements Was the Key Strategy, 2013-2016
Figure 34 Region-Wise Revenue Mix of Top 5 Market Players
Figure 35 ABB Ltd: Company Snapshot
Figure 36 Siemens AG: Company Snapshot
Figure 37 Schneider Electric Se.: Company Snapshot
Figure 38 Danfoss: Company Snapshot
Figure 39 Rockwell Automation: Company Snapshot
Figure 40 WEG SA: Company Snapshot
Figure 41 Yaskawa Electric Corp: Company Snapshot
Figure 42 Eaton: Company Snapshot
Figure 43 General Electric: Company Snapshot
Figure 44 Emerson: Company Snapshot
Figure 45 Hitachi: Company Snapshot
Figure 46 Crompton Greaves: Company Snapshot
Figure 47 Mitsubishi Heavy Industries, Ltd.: Company Snapshot
Figure 48 Fuji Electric Co.: Company Snapshot
Figure 49 Toshiba.: Company Snapshot

The global variable frequency drive (VFD) market is projected to grow at a CAGR of 5.94% from 2016 to 2021, to reach a market size of USD 24.8 Billion by 2021. This growth is attributed to the increasing infrastructural activities including construction of hospitals, and educational institutions, strict regulations related to energy efficiency, reduction of life cycle cost and optimized energy use.

The report segments the variable frequency drive market based on type into AC drives, DC drives and Servo drives. The AC drives segment is projected to dominate the VFD market.

The variable frequency drive market has been segmented based on power range into micro power drive (UP TO 5 Kw), low power drive (6-40 kW), medium power drive (41-200 kW) and high power drive (Above 200 kW). The micro power drive segment accounted for the largest market share in 2015. These VFDs are increasingly popular due to their wide application in fans, pumps, compressors, conveyors, extruders, among others.

The report segments variable frequency drive market based on end-user segment into oil & gas, industrial, power, and infrastructure. The infrastructure segment is expected to grow at the fastest rate during the forecast period. VFDs are applied mainly in metals, mining, water and wastewater treatment projects, and other infrastructure activities under the infrastructure end-user segment. The growing infrastructure sector, especially in the Asia-Pacific would likely boost the overall variable frequency drive market during the forecast period.

In this report, the variable frequency drive market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East and Africa. The Asia-Pacific is expected to dominate the global variable frequency drive market during the forecast period, owing to the extensive use of these devices in industrial as well as infrastructural activities.

The Asia-Pacific market is projected to grow at the highest CAGR from 2016 to 2021. The region is the largest market for the infrastructure and industrial sectors. Energy-intensive industries such as oil & gas, metals & mining, paper, cement, and water & wastewater are adopting these drives to reduce their energy consumption and CO2 emissions. These factors are expected to drive the VFD market globally. Therefore, increasing need for energy efficiency is expected to drive the VFD market worldwide

Variable Frequency Drives Market

Decrease in greenfield investment of VFD could be a restraint of the variable frequency drive market, leading to declining profits. Additionally, VFD forms an important part of the oil & gas sector, but the recent downturn in oil prices has resulted in a decline in capital budgets, which led to contraction in industrial equipment demand which has influenced the growth of the VFD market.

Leading players in the variable frequency drive market include ABB Ltd (Switzerland), Siemens AG (Germany), Schneider Electric (France), Danfoss (Denmark), WEG (Brazil), and Rockwell Automation, Inc. (U.S.). Contracts and agreements was the strategy most commonly adopted by the top players, constituting 38% of the total developments from 2013 to 2016. It was followed by new product developments, expansions and investments, and mergers & acquisitions.

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