Variable Frequency Drive (VFD) Market by Type (AC, DC, and Servo), End-Users (Industrial, Infrastructure, Oil & Gas, and Power Generation), Application (Pumps, Fans, Compressors, and Conveyors), Power Range, Voltage, and Region - Global Forecast to 2025
[226 Pages Report] The global variable frequency drive market is projected to reach USD 24.3 billion by 2025 from an estimated USD 19.2 billion in 2020, at a CAGR of 4.8% during the forecast period. This growth can be attributed to factors such as growing regulations towards energy efficiency, upgradation & modernization of aging infrastructure for safe & secure electrical distribution systems, and increasing rate of industrialization and urbanization. However, stagnant growth of the oil & gas industry and decrease in the exploration & production activity is hindering the growth of the variable frequency drive market.
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COVID-19 Impact on the Global Variable frequency drive Market
The COVID-19 pandemic has slowed the growth of the power industry. This is primarily due to nationwide lockdowns that have been imposed to prevent further spike in the spread of the disease. The renewable energy industry, which until recently was growing at a rapid pace, has been witnessing slow growth over the past few months. This slowdown is mainly due to economic contractions, which have resulted in the reduction of power demand from various end-user industries. With decrease in power demand, it is estimated that there would be very negligible investments from utilities for replacing aging grid infrastructure and new renewable installations.
Furthermore, the spread of COVID-19 is likely to have an adverse effect on the manufacturers of variable frequency drives due to the global shutdown and issues along the supply chain. The price for procuring raw materials is also expected to increase due to the shortage of supply, which ultimately will lead to delays in order closures.
Variable frequency drive Market Dynamics
Driver: High demand in wide range of industries such as cement, chemical, and petrochemical, mining, oil & gas, pulp & paper, water & wastewater
Variable frequency drives are finding increasing applications in the industrial, power, and infrastructure sectors. Some of the major industries that use variable frequency drives are cement, chemical, petrochemical, mining, oil & gas, pulp & paper, and water & wastewater. Their major application areas include conveyors, fans, utility pumps, process pumps, fans, blowers, air compressors, process compressors, coolers, cooling tower fans, grinders, crushers, and chippers. Germany, Russia, the UK, France, Italy, and Spain are offering lucrative opportunities for the variable frequency drives market in the cement & manufacturing industries. Germany and Russia are expected to be key markets for variable frequency drives for the pulp & paper industry. The housing sector generates the highest demand for cement, accounting for about 67% of the total consumption. Thus, increasing industrialization and rising demand for electricity are expected to fuel the growth of the power sector, which consequently will drive the growth of the variable frequency drive market.
Restraint: Stagnant growth of oil & gas industry and decline in exploration & production activities
Oil & gas is one of the leading end-user industries of variable frequency drives. The industry has been witnessing stagnant growth for the past few years owing to the decrease in exploration & production activities. Declining oil prices due to an oversupplied market have resulted in a decrease in exploration & production activities.
The spot price of the European benchmark crude oil Brent dropped from USD 73.4 per barrel in May 2018 to below USD 57 per barrel in the first quarter of 2019 because of the increasing oil supply from the US and OPEC countries (including Saudi Arabia) and the recent lifting of sanctions against Iran. This has resulted in a decline in greenfield investments in the oil & gas industry.
Opportunity: Industrial internet of things (IoT) enables analysis & improves application remotely
The Internet of Things (IoT) has brought about a revolution in the industrial sector by improving industrial processes through the introduction of smart machines, inventory systems, and production machinery. It has also increased the use of automated equipment such as variable frequency drives, which can be connected to the internet and monitored and controlled remotely as per the process requirement. This helps consumers manage their operations more efficiently and effectively. In addition, it provides machine builders the flexibility with which they need to accommodate the end-user requirements. This includes the ability to control interfaces such as communication field buses, pulse trains, and digital or analog I/O modules. Variable frequency drives that support web services bring IIoT connectivity at the device level and enable the machine builders to analyze and improve their applications or perform diagnostics locally or remotely. This allows them to implement fixes while testing and avoid the occurrence of unexpected downtime in the future, thereby providing growth opportunities for the variable frequency drives market.
Challenge: Availability of low quality and cheap products in gray market
The variable frequency drives market is highly fragmented with a large number of local and international players. The product quality is a primary parameter for differentiation in this market. The organized sector mainly targets industrial buyers and maintains higher product quality by following various industrial standards of the product. At the same time, the unorganized sector offers cheaper alternatives to enter the low-priced and local untapped markets. The local manufacturers in most countries target the unorganized sector and compete strongly with global suppliers in the respective markets. The leading market players are currently facing stiff competition from the new players from the unorganized market, supplying cheap and low-quality products. These gray market players overpower the big players in terms of price competitiveness and local distribution network, which is a major challenge for the players operating in the variable frequency drives market.
Market Interconnection
By application, compressors segment is expected to be the fastest growing market from 2020 to 2025
The compressors segment, by application, is estimated to be the fastest market, at a CAGR of 5.6% during the forecast period. Variable frequency drives are integrated into compressors to enhance production and energy efficiency. Compressors equipped with variable frequency drives can adjust speed, maximize production efficiency, and improve mechanical resonances. It also reduces operational and electrical stresses on the motor. Oil & gas, chemical, food & beverage, and building automation are the major industries that use compressors on a large scale leading to an increase in the demand for variable frequency drive.
By end user, industrial segment, is expected to be the largest market from 2020 to 2025
The end user segment is expected to hold the largest market share in the variable frequency drive market during the forecast period. The growing adoption of automation in the manufacturing sector to reduce the downtime is among the major reasons for an increase in the demand for variable frequency drive. Also, the government regulations to enhance energy efficiency in various industries is fuelling the demand for variable frequency drive.
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of the global variable frequency drive market and its dependent submarkets. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
- The industrys supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in utilities, oil and gas, mining, transportation, and other sectors.
Asia Pacific: The leading variable frequency drive market
In this report, the variable frequency drive market has been analyzed with respect to six regions, namely, Asia Pacific, North America, Europe, Middle East, Africa, and South America. Asia Pacifc is estimated to be the largest market from 2020 to 2025. Countries such as China, India, Japan, and South Korea are among the major countries considered as the main manufacturing hub for variable frequency drives. Over the past few years, this region has witnessed rapid economic development. Surging demand for electricity and the growing need to increase renewable power generation capacity encourage utilities in these countries to invest in transmission and distribution infrastructure. There has also been a growing initiative towards energy efficiency that increases the demand for variable frequency drive.
Key Market Players
The key players profiled in this report are ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Danfoss (Denmark), Rockwell Automation (US).
Scope of the report
|
Report Metric |
Details |
|
Market size available for years |
20162025 |
|
Base year considered |
2019 |
|
Forecast period |
20202025 |
|
Forecast units |
Value (USD) |
|
Segments covered |
End user, application, power rating, type, voltage, and region |
|
Geographies covered |
Asia Pacific, North America, Europe, the Middle East, Africa, and South America |
|
Companies covered |
ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Danfoss (Denmark), Rockwell Automation (US), and Others |
This research report categorizes the variable frequency drive market based on end-user, application, power rating, type, voltage, and region.
On the basis of end-user, the variable frequency drive market has been segmented as follows:
- Oil & Gas
- Industrial
- Power
- Infrastructure
On the basis of application, the variable frequency drive market has been segmented as follows:
- Pumps
- Fans
- Compressors
- Conveyors
- Others
On the basis of voltage, the variable frequency drive market has been segmented as follows:
- Low Voltage
- Medium Voltage
On the basis of power rating, the variable frequency drive market has been segmented as follows
- Micro Power Drive
- Low Power Drive
- Medium Power Drive
- High Power Drive
On the basis of type, the variable frequency drive market has been segmented as follows
- AC Drives
- DC Drives
- Servo Drives
On the basis of region, the variable frequency drive market has been segmented as follows:
- Asia Pacific
- North America
- Europe
- Middle East
- South America
- Africa
Recent Developments
- In December 2020, Rockwell Automation re-launched its Kinetix 5100 servo drive for a wide range of applications, including packaging, converting, print & web, and machine and assembly with the voltage availability of 480V.
- In January 2019, ABB launched a series of ACS880 industrial drives and ACH580 Ultra-Low Harmonic (ULH) HVAC drives, which are used in many industries and applications to tackle harmonic issues.
- In February 2019, Yaskawa Europe GmbH, headquartered in Eschborn, Germany, acquired the factory automation business unit of ZF Italia in Assago (Milan). The company expanded its overall product portfolio for industrial automation and its presence in the Italian market through this acquisition.
- In January 2018, Fuji Electric launched FRENIC-Ace for solar pumping. The product offers solar pumping solutions with simple installation and easy start-up and requires minimum maintenance.
- In March 2018, Schneider Electric expanded its business by establishing an innovation hub in East Asia & Japan headquarters in Singapore that develops tailored solutions to optimize energy efficiencies for building, healthcare, data center, oil & gas, and utility segments. This would help the company to serve its customers in a better way.
Frequently Asked Questions (FAQ):
What is the current size of the variable frequency drive market?
The current market size of global variable frequency drive market is $19.2 billion in 2020.
What is the major drivers for variable frequency drive market?
Growing need for increasing energy efficiency and decreasing energy consumption.
Which is the fastest growing region during the forecasted period in variable frequency drive market?
Asia Pacific is the fastest growing region during the forecasted period owing to increasing investments for development of electric infrastructure
Which is the fastest growing segment, by type during the forecasted period in variable frequency drive market?
The AC drive segment, by type is the fastest growing segment during the forecasted period owing to its usage in the wide range of application. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 32)
1.1 OBJECTIVES OF STUDY
1.2 DEFINITION
1.2.1 VARIABLE FREQUENCY DRIVE MARKET, BY POWER RATING: INCLUSIONS AND EXCLUSIONS
1.2.2 VARIABLE FREQUENCY DRIVE MARKET, BY VOLTAGE: INCLUSIONS AND EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 37)
2.1 RESEARCH DATA
FIGURE 1 VARIABLE FREQUENCY DRIVE MARKET: RESEARCH DESIGN
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 2 DATA TRIANGULATION
2.2.1 SECONDARY DATA
2.2.1.1 Key data from secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 Key data from primary sources
2.2.2.2 Breakdown of primaries
2.3 MATRIX CONSIDERED FOR DEMAND SIDE
FIGURE 3 MAIN MATRIX CONSIDERED WHILE CONSTRUCTING AND ASSESSING DEMAND FOR VARIABLE FREQUENCY DRIVES
2.4 MARKET SIZE ESTIMATION
2.4.1 DEMAND SIDE MATRIX
FIGURE 4 VARIABLE FREQUENCY DRIVE MARKET: INDUSTRY-REGION/ COUNTRY-WISE ANALYSIS
2.4.1.1 Calculation for demand side analysis
2.4.1.2 Key assumptions while calculating demand side market size
2.4.2 SUPPLY SIDE MATRIX
FIGURE 5 KEY STEPS CONSIDERED FOR ASSESSING SUPPLY OF VARIABLE FREQUENCY DRIVES
2.4.2.1 Calculations for supply side analysis
FIGURE 6 VARIABLE FREQUENCY DRIVE MARKET: SUPPLY SIDE ANALYSIS
2.4.2.2 Assumptions while calculating supply side market size
FIGURE 7 COMPANY REVENUE ANALYSIS, 2019
2.4.3 FORECAST
3 EXECUTIVE SUMMARY (Page No. - 47)
3.1 SCENARIO ANALYSIS
FIGURE 8 SCENARIO ANALYSIS: VARIABLE FREQUENCY DRIVE MARKET, 20182025
3.1.1 OPTIMISTIC SCENARIO
3.1.2 REALISTIC SCENARIO
3.1.3 PESSIMISTIC SCENARIO
TABLE 1 VARIABLE FREQUENCY DRIVE MARKET SNAPSHOT
FIGURE 9 AC DRIVES SEGMENT TO LEAD VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, DURING FORECAST PERIOD
FIGURE 10 LOW VOLTAGE SEGMENT TO LEAD VARIABLE FREQUENCY DRIVE MARKET, BY VOLTAGE, DURING FORECAST PERIOD
FIGURE 11 LOW POWER DRIVE SEGMENT TO LEAD VARIABLE FREQUENCY DRIVE MARKET, BY POWER RATING, DURING FORECAST PERIOD
FIGURE 12 PUMPS SEGMENT TO LEAD VARIABLE FREQUENCY DRIVE MARKET, BY APPLICATION, DURING FORECAST PERIOD
FIGURE 13 INDUSTRIAL SEGMENT TO LEAD VARIABLE FREQUENCY DRIVE MARKET, BY END USER, DURING FORECAST PERIOD
FIGURE 14 ASIA PACIFIC TO DOMINATE VARIABLE FREQUENCY DRIVE MARKET (20202025)
4 PREMIUM INSIGHTS (Page No. - 55)
4.1 ATTRACTIVE OPPORTUNITIES IN VARIABLE FREQUENCY DRIVE MARKET
FIGURE 15 GOVERNMENT INITIATIVES RELATED TO ENERGY EFFICIENCY AND GROWING NEED FOR POWER FACTOR CORRECTION TO DRIVE GROWTH OF VARIABLE FREQUENCY DRIVE MARKET, 20202025
4.2 VARIABLE FREQUENCY DRIVE MARKET, BY REGION
FIGURE 16 ASIA PACIFIC VARIABLE FREQUENCY DRIVE MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
4.3 VARIABLE FREQUENCY DRIVE MARKET, BY TYPE
FIGURE 17 AC DRIVES SEGMENT DOMINATED VARIABLE FREQUENCY DRIVE MARKET IN 2019
4.4 VARIABLE FREQUENCY DRIVE MARKET, BY VOLTAGE
FIGURE 18 LOW VOLTAGE SEGMENT DOMINATED VARIABLE FREQUENCY DRIVE MARKET IN 2019
4.5 VARIABLE FREQUENCY DRIVE MARKET, BY POWER RATING
FIGURE 19 LOW POWER DRIVE HELD LARGEST SHARE OF VARIABLE FREQUENCY DRIVE MARKET IN 2019
4.6 VARIABLE FREQUENCY DRIVE MARKET, BY APPLICATION
FIGURE 20 PUMPS SEGMENT HELD LARGEST SHARE OF VARIABLE FREQUENCY DRIVE MARKET IN 2019
4.7 VARIABLE FREQUENCY DRIVE MARKET, BY END USER
FIGURE 21 INDUSTRIAL SEGMENT DOMINATED VARIABLE FREQUENCY DRIVE MARKET IN 2019
5 MARKET OVERVIEW (Page No. - 59)
5.1 INTRODUCTION
5.2 COVID-19 HEALTH ASSESSMENT
FIGURE 22 COVID-19 GLOBAL PROPAGATION
FIGURE 23 COVID-19 PROPAGATION IN SELECTED COUNTRIES
5.3 ROAD TO RECOVERY
FIGURE 24 RECOVERY ROAD FOR 2020 & 2021
5.4 MARKET DYNAMICS
FIGURE 25 VARIABLE FREQUENCY DRIVES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, & CHALLENGES
5.4.1 DRIVERS
5.4.1.1 High demand in wide range of industries such as cement, chemical, and petrochemical, mining, oil & gas, pulp & paper, water & wastewater
5.4.1.2 Growing need for increasing energy efficiency and decreasing energy consumption
5.4.1.3 Supportive regulatory environment for efficient and effective energy utilization
5.4.2 RESTRAINTS
5.4.2.1 Stagnant growth of oil & gas industry and decline in exploration & production activities
FIGURE 27 CRUDE OIL PRICE TREND, 20172020 (USD PER BARREL)
5.4.3 OPPORTUNITIES
5.4.3.1 Upgradation of power infrastructure across the globe
5.4.3.2 Industrial Internet of Things (IoT) enables analysis & improves application remotely
5.4.4 CHALLENGES
5.4.4.1 Availability of low-quality and cheap products in gray market
5.4.4.2 Negative impact of COVID-19 pandemic
5.5 YC-SHIFT
5.5.1 REVENUE SHIFT & NEW REVENUE POCKETS FOR VARIABLE FREQUENCY DRIVE MANUFACTURERS
FIGURE 28 REVENUE SHIFT FOR VARIABLE FREQUENCY DRIVE
5.6 MARKET MAP
FIGURE 29 MARKET MAP FOR VARIABLE FREQUENCY DRIVE
5.7 TRADE DATA STATISTICS
TABLE 2 ELECTRIC MOTOR: IMPORT STATISTICS, 2018 & 2019 (USD MILLION)
TABLE 3 ELECTRIC MOTOR: EXPORT STATISTICS, 2018 & 2019 (USD MILLION)
5.8 VALUE CHAIN ANALYSIS
FIGURE 30 VARIABLE FREQUENCY DRIVE VALUE CHAIN
5.8.1 RAW MATERIAL PROVIDERS/SUPPLIERS
5.8.2 COMPONENT MANUFACTURERS
5.8.3 ASSEMBLERS/MANUFACTURERS
5.8.4 DISTRIBUTORS/END USERS AND POST-SALES SERVICES
5.9 CASE STUDY ANALYSIS
5.9.1 ABBS VARIABLE FREQUENCY DRIVE SUCCESS, 2018
5.9.1.1 Problem Statement
5.9.1.2 Possible solution by ABBs variable frequency drive
5.10 TECHNOLOGY ANALYSIS
5.10.1 TECHNOLOGY TRENDS FOR VARIABLE FREQUENCY DRIVE
5.11 REGULATORY LANDSCAPE
5.12 INNOVATIONS & PATENT REGISTRATION
5.13 PORTERS FIVE FORCES ANALYSIS
FIGURE 31 PORTERS FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
6 IMPACT OF COVID-19 ON VARIABLE FREQUENCY DRIVE MARKET, SCENARIO ANALYSIS, BY REGION (Page No. - 74)
6.1 SCENARIO ANALYSIS
6.1.1 OPTIMISTIC SCENARIO
TABLE 4 OPTIMISTIC SCENARIO: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
6.1.2 REALISTIC SCENARIO
TABLE 5 REALISTIC SCENARIO: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
6.1.3 PESSIMISTIC SCENARIO
TABLE 6 PESSIMISTIC SCENARIO: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
7 VARIABLE FREQUENCY DRIVE MARKET, BY TYPE (Page No. - 77)
7.1 INTRODUCTION
FIGURE 32 AC DRIVE SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2019
TABLE 7 VARIABLE FREQUENCY DRIVE MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
7.1.1 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 8 PRE COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
7.2 AC DRIVE
7.2.1 GROWING USAGE OF AC DRIVES IN VARIOUS INDUSTRIES TO FUEL GROWTH OF SEGMENT
TABLE 9 AC DRIVE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
7.3 DC DRIVE
7.3.1 ADVANTAGES SUCH AS HIGH EFFICIENCY AND LOW COST TO PROPEL DEMAND FOR DC DRIVES
TABLE 10 DC DRIVE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
7.4 SERVO DRIVE
7.4.1 ADVANCED TECHNOLOGY TO INCORPORATE FEEDBACK FROM MOTORS TO BOOST GROWTH OF SEGMENT
TABLE 11 SERVO DRIVE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
8 VARIABLE FREQUENCY DRIVE MARKET, BY VOLTAGE (Page No. - 82)
8.1 INTRODUCTION
FIGURE 33 LOW VARIABLE FREQUENCY DRIVE SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2019
TABLE 12 VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
8.1.1 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 13 PRE COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
8.2 LOW VOLTAGE
8.2.1 GROWING USE OF VARIABLE FREQUENCY DRIVES IN WIDE RANGE OF APPLICATIONS BOOST GROWTH OF SEGMENT
TABLE 14 LOW VOLTAGE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
8.3 MEDIUM VOLTAGE
8.3.1 NEED TO REDUCE OPERATING COST IN HEAVY INDUSTRIES TO FUEL DEMAND FOR MEDIUM VOLTAGE VARIABLE FREQUENCY DRIVES
TABLE 15 MEDIUM VOLTAGE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
9 VARIABLE FREQUENCY DRIVE MARKET, BY POWER RATING (Page No. - 86)
9.1 INTRODUCTION
FIGURE 34 LOW POWER DRIVE SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2019
TABLE 16 VARIABLE FREQUENCY DRIVE MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
9.1.1 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 17 PRE COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
9.2 MICRO POWER DRIVE
9.2.1 EXPANDING FOOD & BEVERAGE AND BUILDING AUTOMATION INDUSTRIES TO DRIVE MARKET GROWTH
TABLE 18 MICRO POWER DRIVE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
9.3 LOW POWER DRIVE
9.3.1 HIGHER ENERGY SAVINGS AT LOW COSTS TO FUEL DEMAND FOR LOW POWER DRIVES
TABLE 19 LOW POWER DRIVE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
9.4 MEDIUM POWER DRIVE
9.4.1 GROWTH OF FOOD & BEVERAGE INDUSTRY TO BOOST DEMAND FOR MEDIUM POWER VARIABLE FREQUENCY DRIVES
TABLE 20 MEDIUM POWER DRIVE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
9.5 HIGH POWER DRIVE
9.5.1 NEED FOR REDUCTION IN POWER CONSUMPTION TO BOOST DEMAND FOR HIGH POWER VARIABLE FREQUENCY DRIVES
TABLE 21 HIGH POWER DRIVE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
10 VARIABLE FREQUENCY DRIVE MARKET, BY APPLICATION (Page No. - 91)
10.1 INTRODUCTION
FIGURE 35 PUMPS SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2019
TABLE 22 VARIABLE FREQUENCY DRIVE MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
10.1.1 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 23 PRE COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
10.2 PUMPS
10.2.1 GROWING NEED TO REDUCE CARBON EMISSION IN FACTORIES TO DRIVE GROWTH OF SEGMENT
TABLE 24 PUMPS: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
10.3 FANS
10.3.1 INCREASING ENERGY PRICES TO FUEL GROWTH OF FANS SEGMENT
TABLE 25 FANS: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
10.4 COMPRESSORS
10.4.1 GROWING AWARENESS REGARDING ENERGY SAVING AND INCREASING IMPLEMENTATION OF ENERGY-EFFICIENT SOLUTIONS TO BOOST DEMAND FOR VARIABLE FREQUENCY DRIVES
TABLE 26 COMPRESSORS: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
10.5 CONVEYORS
10.5.1 REDUCTION OF DOWNTIME TO BOOST DEMAND FOR VARIABLE FREQUENCY DRIVES
TABLE 27 CONVEYORS: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
10.6 OTHERS
10.6.1 SMOOTH CONTROL ALONG WITH ENERGY SAVINGS TO FUEL DEMAND FOR VARIABLE FREQUENCY DRIVES
TABLE 28 OTHERS: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
11 VARIABLE FREQUENCY DRIVE MARKET, BY END USER (Page No. - 97)
11.1 INTRODUCTION
FIGURE 36 INDUSTRIAL SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2019
TABLE 29 VARIABLE FREQUENCY DRIVE MARKET SIZE, BY END USER, 20182025 (USD MILLION)
11.1.1 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 30 PRE COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, BY END USER, 20182025 (USD MILLION)
11.2 OIL & GAS
11.2.1 GROWING USAGE OF MOTORS ON LARGE SCALE IN OIL & GAS SECTOR AND INCREASING REQUIREMENT OF ENERGY EFFICIENCY TO DRIVE GROWTH OF SEGMENT
TABLE 31 OIL & GAS: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
11.3 INDUSTRIAL
11.3.1 OPTIMUM PROCESS CONTROL AND REDUCTION OF DOWNTIME ARE FACTORS DRIVING DEMAND FOR VARIABLE FREQUENCY DRIVES
TABLE 32 INDUSTRIAL: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
11.4 POWER
11.4.1 GROWING EMPHASIS ON ENERGY EFFICIENCY TO GROWTH OF SEGMENT
TABLE 33 POWER: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
11.5 INFRASTRUCTURE
11.5.1 GROWING OPPORTUNITIES FOR ENERGY OPTIMIZATION TO DRIVE MARKET GROWTH
TABLE 34 INFRASTRUCTURE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12 VARIABLE FREQUENCY DRIVE MARKET, BY REGION (Page No. - 102)
12.1 INTRODUCTION
FIGURE 37 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 38 ASIA PACIFIC LED VARIABLE FREQUENCY DRIVE MARKET IN 2019
TABLE 35 VARIABLE FREQUENCY DRIVE MARKET SIZE, BY REGION, 20182025 (USD MILLION)
12.1.1 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 36 GLOBAL: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, 20182025 (USD MILLION)
FIGURE 39 GLOBAL: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET, 20182025 (USD MILLION)
12.2 ASIA PACIFIC
FIGURE 40 ASIA PACIFIC: VARIABLE FREQUENCY DRIVE MARKET SNAPSHOT, 2019
12.2.1 BY VOLTAGE
TABLE 37 ASIA PACIFIC: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.2.2 BY APPLICATION
TABLE 38 ASIA PACIFIC: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
12.2.3 BY POWER RATING
TABLE 39 ASIA PACIFIC: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
12.2.4 BY TYPE
TABLE 40 ASIA PACIFIC: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
12.2.5 BY COUNTRY
TABLE 41 ASIA PACIFIC: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
12.2.6 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 42 ASIA PACIFIC: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, 20182025 (USD MILLION)
FIGURE 41 ASIA PACIFIC: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET, 20182025 (USD MILLION)
12.2.6.1 China
12.2.6.1.1 Increasing manufacturing activities to boost demand for variable frequency drives
TABLE 43 CHINA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.2.6.2 India
12.2.6.2.1 Increasing industrialization to fuel demand for variable frequency drives
TABLE 44 INDIA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.2.6.3 Japan
12.2.6.3.1 Growing automation in industrial sector to boost market growth
TABLE 45 JAPAN: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.2.6.4 Australia
12.2.6.4.1 Growth of power sector to fuel demand for variable frequency drives
TABLE 46 AUSTRALIA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.2.6.5 South Korea
12.2.6.5.1 Increasing investments in renewable sector to propel demand for variable frequency drives
TABLE 47 SOUTH KOREA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.2.6.6 Indonesia
12.2.6.6.1 Increasing industrialization and expansion of power generation capacity to drive market growth
TABLE 48 INDONESIA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.2.6.7 Rest of Asia Pacific
TABLE 49 REST OF ASIA PACIFIC: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.3 EUROPE
FIGURE 42 EUROPE: VARIABLE FREQUENCY DRIVE MARKET SNAPSHOT, 2019
12.3.1 BY VOLTAGE
TABLE 50 EUROPE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.3.2 BY APPLICATION
TABLE 51 EUROPE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
12.3.3 BY POWER RATING
TABLE 52 EUROPE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
12.3.4 BY TYPE
TABLE 53 EUROPE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
12.3.5 BY COUNTRY
TABLE 54 EUROPE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
12.3.6 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 55 EUROPE: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, 20182025 (USD MILLION)
FIGURE 43 EUROPE: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET, 20182025 (USD MILLION)
12.3.6.1 Germany
12.3.6.1.1 Increasing replacement of aging infrastructure to fuel demand for variable frequency drives
TABLE 56 GERMANY: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.3.6.2 France
12.3.6.2.1 Implementation of zero carbon emission policy will increase demand for variable frequency drives
TABLE 57 FRANCE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.3.6.3 UK
12.3.6.3.1 Growing sale of vehicles and expanding aerospace & defense industry to drive market growth
TABLE 58 UK: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.3.6.4 Russia
12.3.6.4.1 Modernization of manufacturing sector to contribute to growth of variable frequency drive market
TABLE 59 RUSSIA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.3.6.5 Italy
12.3.6.5.1 Growing investments in power sector to drive market growth
TABLE 60 ITALY: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.3.6.6 Spain
12.3.6.6.1 Government initiatives to upgrade existing power system to boost demand for variable frequency drives
TABLE 61 SPAIN: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.3.6.7 Rest of Europe
TABLE 62 REST OF EUROPE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.4 NORTH AMERICA
12.4.1 BY VOLTAGE
TABLE 63 NORTH AMERICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.4.2 BY APPLICATION
TABLE 64 NORTH AMERICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
12.4.3 BY POWER RATING
TABLE 65 NORTH AMERICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
12.4.4 BY TYPE
TABLE 66 NORTH AMERICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
12.4.5 BY COUNTRY
TABLE 67 NORTH AMERICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
12.4.6 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 68 NORTH AMERICA: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, 20182025 (USD MILLION)
FIGURE 44 NORTH AMERICA: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET, 20182025 (USD MILLION)
12.4.6.1 US
12.4.6.1.1 Replacement of aging power infrastructure to drive market growth
TABLE 69 US: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.4.6.2 Canada
12.4.6.2.1 Growth of oil & gas sector to fuel demand for variable frequency drives
TABLE 70 CANADA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.4.6.3 Mexico
12.4.6.3.1 Increasing investments in energy sector to boost demand for variable frequency drives
TABLE 71 MEXICO: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.5 SOUTH AMERICA
12.5.1 BY VOLTAGE
TABLE 72 SOUTH AMERICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.5.2 BY APPLICATION
TABLE 73 SOUTH AMERICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
12.5.3 BY POWER RATING
TABLE 74 SOUTH AMERICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
12.5.4 BY TYPE
TABLE 75 SOUTH AMERICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
12.5.5 BY COUNTRY
TABLE 76 SOUTH AMERICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
12.5.6 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 77 SOUTH AMERICA: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, 20182025 (USD MILLION)
FIGURE 45 SOUTH AMERICA: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET, 20182025 (USD MILLION)
12.5.6.1 Brazil
12.5.6.1.1 Investments power infrastructure and expanding oil & gas sector to fuel market growth
TABLE 78 BRAZIL: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.5.6.2 Argentina
12.5.6.2.1 Rising demand for variable frequency drives in consumer electronics industry to boost market growth
TABLE 79 ARGENTINA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.5.6.3 Chile
12.5.6.3.1 Increasing investments in infrastructure development to fuel demand for variable frequency drives
TABLE 80 CHILE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.5.6.4 Rest of South America
TABLE 81 REST OF SOUTH AMERICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.6 MIDDLE EAST
12.6.1 BY VOLTAGE
TABLE 82 MIDDLE EAST: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.6.2 BY APPLICATION
TABLE 83 MIDDLE EAST: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
12.6.3 BY POWER RATING
TABLE 84 MIDDLE EAST: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
12.6.4 BY TYPE
TABLE 85 MIDDLE EAST: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
12.6.5 BY COUNTRY
TABLE 86 MIDDLE EAST: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
12.6.6 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 87 MIDDLE EAST: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, 20182025 (USD MILLION)
FIGURE 46 MIDDLE EAST: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET, 20182025 (USD MILLION)
12.6.6.1 Saudi Arabia
12.6.6.1.1 Investments in power sector to expand power generation capacity to fuel demand for variable frequency drives
TABLE 88 SAUDI ARABIA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.6.6.2 UAE
12.6.6.2.1 Initiatives to boost manufacturing sector to increase demand for variable frequency drives
TABLE 89 UAE: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.6.6.3 Qatar
12.6.6.3.1 Contribution toward renewable generation of electricity to drive demand for variable frequency drives
TABLE 90 QATAR: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.6.6.4 Oman
12.6.6.4.1 Healthy growth of oil & gas sector to drive market growth
TABLE 91 OMAN: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.6.6.5 Kuwait
12.6.6.5.1 Increasing investments in oil & gas sector to fuel demand for variable frequency drives
TABLE 92 KUWAIT: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.6.6.6 Rest of the Middle East
TABLE 93 REST OF MIDDLE EAST: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.7 AFRICA
12.7.1 BY VOLTAGE
TABLE 94 AFRICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.7.2 BY APPLICATION
TABLE 95 AFRICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
12.7.3 BY POWER RATING
TABLE 96 AFRICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY POWER RATING, 20182025 (USD MILLION)
12.7.4 BY TYPE
TABLE 97 AFRICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
12.7.5 BY COUNTRY
TABLE 98 AFRICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
12.7.6 IMPACT OF COVID-19 ON GLOBAL VARIABLE FREQUENCY DRIVE MARKET
TABLE 99 AFRICA: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET SIZE, 20182025 (USD MILLION)
FIGURE 47 AFRICA: COVID-19 IMPACT ON VARIABLE FREQUENCY DRIVE MARKET, 20182025 (USD MILLION)
12.7.6.1 Egypt
12.7.6.1.1 Growing investments in oil & gas sector to increase demand for variable frequency drives
TABLE 100 EGYPT: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.7.6.2 Nigeria
12.7.6.2.1 Increasing investments in mining sector and growing oil & gas sector to boost demand for variable frequency drives
TABLE 101 NIGERIA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.7.6.3 South Africa
12.7.6.3.1 Expanding manufacturing sector to fuel demand for variable frequency drives
TABLE 102 SOUTH AFRICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
12.7.6.4 Rest of Africa
TABLE 103 REST OF AFRICA: VARIABLE FREQUENCY DRIVE MARKET SIZE, BY VOLTAGE, 20182025 (USD MILLION)
13 COMPETITIVE LANDSCAPE (Page No. - 145)
13.1 OVERVIEW
FIGURE 48 KEY DEVELOPMENTS IN VARIABLE FREQUENCY DRIVE MARKET DURING JANUARY 2017DECEMBER 2020
13.2 MARKET SHARE ANALYSIS, 2019
FIGURE 49 MARKET SHARE ANALYSIS, 2019
13.3 MARKET EVALUATION FRAMEWORK
TABLE 104 MARKET EVALUATION FRAMEWORK
13.4 VARIABLE FREQUENCY DRIVE REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS
FIGURE 50 TOP 5 PLAYERS DOMINATED MARKET IN LAST 5 YEARS
13.5 KEY MARKET DEVELOPMENTS
13.5.1 PRODUCT LAUNCHES
13.5.2 CONTRACTS & AGREEMENTS
13.5.3 MERGERS & ACQUISITIONS
13.5.4 INVESTMENTS & EXPANSION
13.5.5 PARTNERSHIPS
13.6 COMPANY EVALUATION QUADRANT
13.6.1 COMPANY EVALUATION QUADRANT DEFINITIONS AND METHODOLOGY
13.6.2 STAR
13.6.3 EMERGING LEADER
13.6.4 PERVASIVE
13.6.5 EMERGING COMPANY
FIGURE 51 VARIABLE FREQUENCY DRIVE MARKET COMPANY EVALUATION QUADRANT, 2019
13.7 COMPETITIVE LEADERSHIP MAPPING OF START-UPS
13.7.1 PROGRESSIVE COMPANIES
13.7.2 RESPONSIVE COMPANIES
13.7.3 STARTING BLOCKS
13.7.4 DYNAMIC COMPANIES
FIGURE 52 COMPETITIVE LEADERSHIP MAPPING OF START-UPS, 2019
13.7.5 PRODUCT FOOTPRINT ANALYSIS OF TOP PLAYERS
FIGURE 53 PRODUCT FOOTPRINT ANALYSIS OF TOP PLAYERS IN VARIABLE FREQUENCY DRIVE MARKET
14 COMPANY PROFILES (Page No. - 156)
(Business overview, Products offered, Recent Developments, SWOT Analysis, MNM view)*
14.1 ABB
FIGURE 54 ABB: COMPANY SNAPSHOT
14.2 SIEMENS
FIGURE 55 SIEMENS: COMPANY SNAPSHOT
14.3 SCHNEIDER ELECTRIC
FIGURE 56 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
14.4 DANFOSS
FIGURE 57 DANFOSS: COMPANY SNAPSHOT
14.5 ROCKWELL AUTOMATION
FIGURE 58 ROCKWELL AUTOMATION: COMPANY SNAPSHOT
14.6 CROMPTON GREAVES POWER AND INDUSTRIAL SOLUTION
FIGURE 59 CROMPTON GREAVES POWER AND INDUSTRIAL SOLUTIONS: COMPANY SNAPSHOT
14.7 EATON
FIGURE 60 EATON: COMPANY SNAPSHOT
14.8 YASKAWA
FIGURE 61 YASKAWA: COMPANY SNAPSHOT
14.9 FUJI ELECTRIC
FIGURE 62 FUJI ELCTRIC: COMPANY SNAPSHOT
14.10 HITACHI
FIGURE 63 HITACHI: COMPANY SNAPSHOT
14.11 GENERAL ELECTRIC
FIGURE 64 GENERAL ELECTRIC: COMPANY SNAPSHOT
14.12 WEG
FIGURE 65 WEG: COMPANY SNAPSHOT
14.13 NIDEC
FIGURE 66 NIDEC: COMPANY SNAPSHOT
14.14 TMEIC
14.15 SEW-EURODRIVE
14.16 DELTA ELECTRONICS
14.17 HONEYWELL INTERNATIONAL
14.18 ANAHEIM AUTOMATION
14.19 PARKER HANNIFIN
14.20 NORD DRIVE SYSTEMS
14.21 INOVANCE TECHNOLOGY
14.22 TECHSUPPEN
14.23 SHENZHEN GOZUK
14.24 MAVEN AUTOMATION
14.25 SAKSUN INDUSTRIES
14.26 A.S. AUTOMATION & CONTROLS
*Details on Business overview, Products offered, Recent Developments, SWOT Analysis, MNM view might not be captured in case of unlisted companies.
15 ADJACENT & RELATED MARKET (Page No. - 200)
15.1 SYNCHRONOUS CONDENSER MARKET
15.1.1 MARKET DEFINITION
15.1.2 MARKET OVERVIEW
15.1.3 SYNCHRONOUS CONDENSER MARKET, BY REGION
TABLE 105 SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 106 SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 20182025 (UNITS)
15.1.4 NORTH AMERICA
TABLE 107 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 108 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 109 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 110 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 20182025 (USD MILLION)
TABLE 111 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 112 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
15.1.4.1 US
TABLE 113 US: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 114 US: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 115 US: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
15.1.4.2 Canada
TABLE 116 CANADA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 117 CANADA: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
15.1.5 EUROPE
TABLE 118 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 119 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 120 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 121 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 20182025 (USD MILLION)
TABLE 122 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 123 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
15.1.5.1 Italy
TABLE 124 ITALY: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 125 ITALY: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 126 ITALY: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
15.1.5.2 Germany
TABLE 127 GERMANY: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 128 GERMANY: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 129 GERMANY: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
15.1.5.3 Norway
TABLE 130 NORWAY: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 131 NORWAY: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 132 NORWAY: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
15.1.5.4 Rest Of Europe
TABLE 133 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 134 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 135 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
15.1.6 SOUTH AMERICA
TABLE 136 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 137 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 138 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 139 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 20182025(USD MILLION)
TABLE 140 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 141 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
15.1.6.1 Brazil
TABLE 142 BRAZIL: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 143 BRAZIL: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 144 BRAZIL: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
15.1.6.2 Rest of South America
TABLE 145 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 146 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 147 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
15.1.7 REST OF THE WORLD
TABLE 148 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 149 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 150 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 151 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 20182025 (USD MILLION)
TABLE 152 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 153 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
15.1.7.1 Australia
TABLE 154 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 155 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 156 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
15.1.7.2 Other Countries of ROW
TABLE 157 OTHER COUNTRIES OF ROW: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 20182025 (USD MILLION)
TABLE 158 OTHER COUNTRIES OF ROW: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 20182025 (USD MILLION)
TABLE 159 OTHER COUNTRIES OF ROW: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 20182025 (USD MILLION)
16 APPENDIX (Page No. - 219)
16.1 INSIGHTS OF INDUSTRY EXPERTS
16.2 DISCUSSION GUIDE
16.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
16.4 AVAILABLE CUSTOMIZATIONS
16.5 RELATED REPORTS
16.6 AUTHOR DETAILS
This study involved 4 major activities in estimating the current market size of the variable frequency drive market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. Thereafter, the market breakdown and data triangulation technique was undertaken to estimate the market size of the segments and corresponding subsegments.
Secondary Research
This research study involved the use of extensive secondary sources, directories, and databases such as T&D World, Bloomberg Business Week, Factiva, and, world oil and gas journal, to identify and collect information useful for a technical, market oriented, and commercial study of the variable frequency drive market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research
The variable frequency drive market comprises several stakeholders such as coal and oil & gas trading companies; transmission & distribution companies in the sector; electrical equipment manufacturing companies; medium and low voltage component assemblers; organizations, forums and alliances; state and national regulatory authorities; and electrical system designers, owners, and operators. The demand side of this market is characterized by its applications such as pumps, fans, compressors, conveyors, and others. The others segment includes variable frequency drives used in extruders, crushers & mills, and mixers. The supply side is characterized by organizations manufacturing variable frequency drives and the equipment in which the variable frequency drives are installed. A few of such companies are ABB, Siemens, Schneider Electric, Danfoss, Rockwell Automation, Yaskawa, and Fuji Electric. Various primary sources, from both the supply and demand sides of the market, were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is as follows:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of the global variable frequency drive market and its dependent submarkets. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
- The industrys supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in utilities, oil and gas, mining, transportation, and other sectors.
Report Objectives
- To define, describe, and forecast the global variable frequency drive market by end-user, application, power rating, type, voltage, and region
- To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the market with respect to individual growth trends, prospects, and contribution of each segment to the market
- The impact of the COVID-19 pandemic on the surge arrester market has been analyzed to estimate the market size
- To analyze the market opportunities for stakeholders and details of the competitive landscape for market leaders
- To forecast the growth of the market with respect to the major regions (Asia Pacific, Europe, North America, South America, Middle East, and Africa)
- To strategically profile key players and comprehensively analyze their market ranking and core competencies
- To track and analyze the competitive developments such as contracts & agreements, expansions, new product developments, mergers & acquisitions, and partnerships in the variable frequency drive market
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the clients specific needs. The following customization options are available for this report:
Regional Analysis
- Further breakdown of the region or country-specific analysis
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Get in-depth analysis of the COVID-19 impact on the Variable Frequency Drive (VFD) Market
Benchmarking the rapid strategy shifts of the Top 100 companies in the Variable Frequency Drive (VFD) Market
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- What are the Known and Unknown Adjacencies Impacting the Variable Frequency Drive (VFD) Market
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Growth opportunities and latent adjacency in Variable Frequency Drive (VFD) Market