openPR Logo
Press release

Variable Frequency Drive Market : Drivers, Restraint & Future Growth

01-11-2019 03:35 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Variable Frequency Drive Market : Drivers, Restraint & Future

The North America variable frequency drive market is projected to reach US$ 7.79 Bn in revenues by 2027, according to a new research by Future Market Insights. In terms of volume, 6.25 million units of variable frequency drivers are expected to be sold in North America in 2017. The U.S. will continue to dominate sales, accounting for nearly 78% revenue share of the market.

According to Future Market Insights, the key factors fuelling the growth of the market include, Increasing emphasis on energy efficiency: Process engineers are adopting energy-saving devices to reduce operational expenses. For example, in 2015, Len Busch Roses, one of the largest nurseries for cut-stem flowers, deployed variable frequency drive to regulate airflow in snapdragon greenhouse with better precision. Introduction of general purpose variable frequency drives that are compatible with existing motors is reducing impediments to widespread adoption. Variable frequency drives are being employed in a wide range of end-use applications. Installation of variable frequency drives, along with a flow metre, results in energy savings.

A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-na-3651

Although Future Market Insights maintains a positive outlook on the North America variable frequency drives market, few challenges can restrain growth. These include technical anomalies associated with variable frequency drives and high initial costs of medium voltage variable frequency drives.

AC Drive Most Sought-After

By drive type, Future Market Insights has segmented the market into AC drive, DC drive, and Servo drive. Among these, AC drives remain the sought-after device, accounting for nearly 72% revenue share of the market in 2016. While 4.20 million units of AC drives were sold in North America in 2016, collective sales of DC drives and servo drives accounted for 1.64 million units.

Low Voltage Range Drives in Demand

By voltage range, Future Market Insights offers market forecast and analysis on low voltage range and medium voltage range. End-users in North America prefer low voltage range variable frequency drives, with this segment accounting for over 80% revenue share in 2016.

Low Demand for Regenerative Variable Frequency Drives

By application type, Future Market Insights has segmented the variable frequency drive market into standard and regenerative. Demand for standard variable frequency drives is higher than regenerative variable frequency drives. The former accounted for over 88% revenue share of the market in 2016.

The key end-use application segments of variable frequency drives are,

Pump

Fan

Compressor

Conveyor

HVAC

Other applications

Pumps Largest End-use Application Segment

According to Future Market Insights, pumps are the largest end-use application segment, accounting for nearly 35% revenue share of the market in 2016. In 2016, demand for variable frequency drives from this segment was 1.90 billion units.

Read Comprehensive Overview with Methodology of Report @ https://www.futuremarketinsights.com/askus/rep-na-3651

Oil & Gas Largest End-use Industry

By end-use industry, Future Market Insights offers market forecast and analysis on oil & gas, food processing, automotive, mining & metals, pulp & papers, and ‘others’. The oil & gas segment accounted for 44% revenue share of the market in 2016. Future Market Insights projects it to remain the largest end-use industry for variable frequency drives during the period 2017-2027. Key companies profiled by Future Market Insights in its report include Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, Siemens AG, ABB Ltd., American Electric Technologies Inc., General Electric Company, Hitachi Limited, Honeywell International Inc., Rockwell Automation Inc., Johnson Controls, Inc., Emerson Industrial Automation, Toshiba International Corporation, and Schneider Electric SE.

About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

Contact Us
U.S. Office
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Web: https://www.futuremarketinsights.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Variable Frequency Drive Market : Drivers, Restraint & Future Growth here

News-ID: 1488640 • Views: 150

More Releases from Future Market Insights

How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring

All 5 Releases


More Releases for Drive

Global Harmonic Drive Market 2018 - BENRUN Robot, Nidec-Shimpo, China Harmonic D …
Apex Market Reports, recently published a detailed market research study focused on the “Harmonic Drive Market” across the global, regional and country level. The report provides 360° analysis of “Harmonic Drive Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Harmonic Drive on
Harmonic Drive Gear Reduction
Publisher Research announces that it has published a new study Harmonic Drive Precision Strain Wave Reducer Gearboxes and RV and RD Reducers: Market Shares, Strategy, and Forecasts, Worldwide, 2018 to 2024. The 2018 study has 230 pages, 141 tables and figures. The leading vendors in the harmonic drive industry have invested in high-quality technology and processes to develop leading edge reducer strain relief gearbox capability. Request Sample Copy at http://www.reportsweb.com/inquiry&RW00011308042/sample Harmonic
Hard Disk Drive Market 2017-2027 Expected to Drive Growth
In recent past it has been observed that the Hard disk drive market is negatively affected, driven by falling sales in the PC market. But a trend that helped to boost the market growth is the innovation of high-storage portable external hard disks. Hard disk drive market is directly affected by the flash-based SSDs. In now days the adaptation of flash based SSDs in Laptops and personal computers continue
Harmonic Drive Market Forecasts – HDSI, Leaderdrive, Beijing CTKM Harmonic Dri …
For overview analysis, the report introduces Harmonic Drive Market basic information including definition, classification, application, industry chain structure, industry overview, policy analysis, and news analysis, etc. Harmonic Drive Market : Harmonic Drive is a compact, high performance, precision reduction gear. It is one of the key components used in robotic products such as collaborative work robots. The gear consists of only 3 basic parts (Wave Generator, Flex spline, and Circular Spline). It
Harmonic Drive Market 2017- HDSI, Leaderdrive, Beijing CTKM Harmonic Drive
The Global Harmonic Drive Market 2017 Industry Research Report focused on major manufacturers, regions, type as well as application of the Harmonic Drive industry.“Harmonic Drive is a compact, high performance, precision reduction gear. It is one of the key components used in robotic products such as collaborative work robots. The gear consists of only 3 basic parts (Wave Generator, Flex spline, and Circular Spline). It provides excellent features not
New Compact Linear Drive
PIShift drives are compact and cost-efficient piezo linear drives from PI (Physik Instrumente), the Karlsruhe specialist for positioning systems. The drives use the stick-slip effect and, due to the high operating frequency of more than 20 kHz, they are noiseless. The load is coupled to the moving rod. Typical applications of drives operating with this principle are the adjustment of optical and opto-mechanical components, cell manipulation as well as industrial applications