openPR Logo
Press release

Variable Frequency Drive Market to See Strong Expansion Through 2023 | key players include ABB, Siemens, Schneider Electric, Danfoss, Rockwell

02-21-2020 10:08 AM CET | Energy & Environment

Press release from: MarketsandMarkets

Variable Frequency Drive Market to See Strong Expansion Through

According to the new market research report "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 2023 ", The global VFD market is projected to reach a market size of USD 27.57 billion by 2023, at a CAGR of 5.87%.

The market in Asia Pacific is estimated to be the largest for VFDs, followed by the market in Europe in 2018. Factors such as increased usage of VFD across major industry verticals, government regulations, and rising need for energy efficiency are driving the VFD market.

Browse 90 market data Tables and 43 Figures spread through 183 Pages and in-depth TOC on "Variable Frequency Drive Market"

https://www.marketsandmarkets.com/Market-Reports/variable-frequency-drive-market-878.html

The low-voltage segment is expected to hold the largest share of the VFD market, by voltage, during the forecast period.

The low-voltage segment led the VFD market in 2017 and is projected to have the largest market share during the forecast period. Low-voltage VFDs are used in various industrial applications such as building automation, pulp & paper, power, water & wastewater, and oil & gas, and especially in process industries, which would drive the low-voltage segment during the forecast period.

The pump segment is expected to hold the largest share of the VFD market, by application, during the forecast period.

The pump segment led the VFD market in 2017. Pump is one of the most important equipment in most industries such as oil & gas, chemical & petrochemical, and pulp and paper as it provides huge potential for energy savings, improved performance, and reliability. Increase in oil and shale gas productions are driving the pump market.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=878

The infrastructure segment of the VFD market, by end-user, is expected to grow at the highest CAGR during the forecast period.

The infrastructure segment is projected to grow at the highest CAGR from 2018 to 2023. Rapid infrastructure development in the developing companies and growing concerns over energy efficiency in the developed countries are likely to drive the infrastructure segment. For instance, in December 2017, the government of Japan planned to invest USD 57.97 million on development projects, including housing and commercial facilities, as per Japan Overseas Infrastructure Investment Corporation. Such investments toward the infrastructure activity would boost the VFD market during the forecast period.

The VFD market is dominated by a few major players that have a wide regional presence. The leading players in the VFD market include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Danfoss (Denmark), and Rockwell (US).

The major strategies adopted by the players include new product developments, contracts & agreements, investments & expansions, and mergers & acquisitions. New product developments was the most commonly adopted strategy from January 2014 to April 2018. Industry players also adopted contracts & agreements, which was the second most widely followed strategy during the same period.

Ask for Sample Copy @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=878

ABB is a provider of power and automation technology for various industries such as oil & gas, power generation, and transport & infrastructure globally. The company operates through 4 divisions, namely, power grids, electrification products, robotics and motion, and industrial automation. It provides VFD under the robotics and motion business segment. ABB drives business provides low-voltage AC drives, medium-voltage drives, and DC drives for various industries such as building automation, marine, power, transportation, food & beverage, metals, mining, and oil & gas. The company has a presence in over 100 countries with production and R&D centers worldwide. Moreover, in September 2017, ABB acquired GE industrial solution to strengthen its position in electrification segment globally and expand its presence in the North American market.

Siemens engaged in the business of electrification, automation, and digitalization. The company conducts its operations through 8 segments, namely, power and gas, healthineers, energy management, digital factory, mobility, Siemens Gamesa renewable energy, process industries and drives, and building technologies. Its process industries and drives business segment provide VFDs to various industries such as oil & gas, shipbuilding, mining, cement, fiber, chemicals, food & beverage, and pharmaceuticals. The company operates 289 production and manufacturing plants across the globe. Moreover, in November 2017, Siemens partnered with Airbus and Rolls-Royce for the development of drive systems across various power classes for hybrid electric flight.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets(TM) INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com

About MarketsandMarkets(TM):

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets(TM) are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets(TM) now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets(TM) is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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 to See Strong Expansion Through 2023 | key players include ABB, Siemens, Schneider Electric, Danfoss, Rockwell here

News-ID: 1940526 • Views: 367

More Releases from MarketsandMarkets

Get in-depth analysis of how COVID-19 is impacting the Roll-to-Roll Printing Mar …
Roll-to-roll (R2R) printed flexible electronics market for inkjet printing expected to grow at the highest CAGR during the forecast period Roll-to-roll (R2R) printed flexible electronics market for inkjet printing expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the benefits offered by non-contact inkjet printing in terms of increased scalability and its significant potential to meet the rising market demand
Get in-depth analysis of how COVID-19 is impacting the Silicon Carbide Market
"The SiC discrete device segment accounted for a larger share of silicon carbide market in 2019" SiC discrete device accounted for a larger share of the silicon carbide industry in 2019. The growth of this segment is attributed to the increasing demand for SiC discrete devices for use in numerous applications, including power grid devices, high-voltage direct current systems (HVDC), power supplies and inverters, and RF & cellular base station applications. Download
Get in-depth analysis of how COVID-19 is impacting the Smart Sensor Market
The market for temperature & humidity sensor to grow at the highest CAGR during 2020-2025 The market size for temperature & humidity sensor is projected to grow at the highest CAGR during the forecast period. Smart temperature sensors are used widely in measurement control systems and instrumentation. Temperature sensors that provide an interpretable temperature reading in a digital format are easy to use in many applications, such as healthcare, automotive, and
Condensing Unit Market worth $48.05 billion by 2027 | Key Players include Emerso …
According to recent market research "Condensing Unit Market by Type (Air-Cooled, Water-Cooled, Evaporative Condensing Unit), Application (Commercial, Industrial, Transportation), Function (Air Conditioning, Refrigeration), and Region - Global Forecast to 2027", Global condensing unit market is projected to grow from an estimated USD 21.94 billion in 2017 to USD 48.05 billion by 2027, at a CAGR of 8.2% from 2017 to 2027. Browse 105 market data Tables and 33 Figures spread through

All 5 Releases


More Releases for VFD

Global Vacuum Fluorescent Displays (VFD) Market Insights, Forecast 2025
This report presents the worldwide Vacuum Fluorescent Displays (VFD) market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application. This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis. Get sample copy of report: https://www.marketdensity.com/contact?ref=Sample&reportid=125490 Table of Contents 1 Study Coverage
Global Vacuum Fluorescent Displays (VFD) Market Insights Forecast Report 2025
The Vacuum Fluorescent Displays (VFD) market was valued at Million US$ in 2018 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Vacuum Fluorescent Displays (VFD). sample copy of report : https://www.marketdensity.com/contact?ref=Sample&reportid=125490 Table of Contents 1 Study Coverage
Variable Frequency Drive (VFD) Market - Expeditious Growth in Infrastructure 202 …
Global Variable Frequency Drive (VFD) Market: Overview Also known as speed variable drive, AC drive, adjustable speed drive, microdrive, and inverter, variable frequency drives (VFDs) are used in electro-mechanical drive systems as motor controllers by varying the frequency and voltage supplied to an electric motor. Depending upon the application, the VFD can ramp up or ramp down the voltage and frequency so as to meet the needs of the electric
Variable Frequency Drive (VFD) Market Aggrandize Share by 2025
Global Variable Frequency Drive (VFD) Market: Overview Also known as speed variable drive, AC drive, adjustable speed drive, microdrive, and inverter, variable frequency drives (VFDs) are used in electro-mechanical drive systems as motor controllers by varying the frequency and voltage supplied to an electric motor. Depending upon the application, the VFD can ramp up or ramp down the voltage and frequency so as to meet the needs of the electric
Variable Frequency Drive (VFD) Market : Evolving Market Trends & Dynamics 2025
Global Variable Frequency Drive (VFD) Market: Overview Also known as speed variable drive, AC drive, adjustable speed drive, microdrive, and inverter, variable frequency drives (VFDs) are used in electro-mechanical drive systems as motor controllers by varying the frequency and voltage supplied to an electric motor. Depending upon the application, the VFD can ramp up or ramp down the voltage and frequency so as to meet the needs of the electric
Variable Frequency Drive (VFD) Market: Industry Survey and Outlook 2025
Global Variable Frequency Drive (VFD) Market: Overview Also known as speed variable drive, AC drive, adjustable speed drive, microdrive, and inverter, variable frequency drives (VFDs) are used in electro-mechanical drive systems as motor controllers by varying the frequency and voltage supplied to an electric motor. Depending upon the application, the VFD can ramp up or ramp down the voltage and frequency so as to meet the needs of the electric