Variable Frequency Drives Market to grow from a market value of USD 19.74 billion in 2017 to USD 27.12 billion by 2023| Key Players - EATON CORPORATION, ABB LTD., GE COMPANY, HONEYWELL INTERNATIONAL INC. , HITACHI LTD., SIEMENS AG , TOSHIBA CORPORATION, a

Market Analysis:

United States to Hold the Largest Market Share
Implementation of new regulations to achieve energy efficiency is driving the demand for variable frequency drives market in the United States. There is an increase in the installation of VFDs across various industries, like pumping, HVAC, machinery equipment, and packaging, as VFDs provide additional protection and monitoring capabilities.

Detailed Sample Copy of Updated Analysis @ https://marketprognosis.com/sample-request/17460
Note: “If this link doesn’t work in Internet Explorer, kindly try pasting it in other browsers.”

The primary role of a VFD is to provide the ability to control the speed of the motor. The significant factors driving the growth of variable frequency drives are raising demand for energy & electricity, industrialization, and advancements in machinery, and stringent regulations imposed by the government to cut down the carbon emissions while producing electricity. HVAC Systems are the most targeted components for energy efficiency while aiming at reduction in energy consumption of an infrastructure. Due to new infrastructure, along with uncertain economic scenario, costs can play an important role in the success of any business. Hence, such factors enhance the demand for VFD in the global scenario.

Request Discount on this report @ https://marketprognosis.com/discount-request/17460
Note: “If this link doesn’t work in Internet Explorer, kindly try pasting it in other browsers.”

Market Segments:
Variable Frequency Drives Market is segmented by:
1. Deployment: NFC, Wi-Fi, Zigbee, Bluetooth
2. Application: Industrial, Commercial, Residential, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments
• November 2017 - Rockwell Automation announced its investment in The Hive, a Silicon Valley innovation fund and co-creation studio, to gain access to an ecosystem of innovators and technology start-ups with a focus on applications of artificial intelligence (AI) to industrial automation.
• July 2017 - Schneider signed an agreement to acquire Asco Power Technologies, a leader in the Automatic Transfer Switch market for a consideration of USD 1250 million, in an all cash transaction.

Enquiry before Buying @ https://marketprognosis.com/enquiry/17460
Note: “If this link doesn’t work in Internet Explorer, kindly try pasting it in other browsers.”

About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today's complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:
ProgMark Pvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

This release was published on openPR.