Press release
CAGR of 5.6% Variable Speed Drive Business Insights on Emerging Market
The key players profiled in the report include ABB Ltd., Siemens AG, Rockwell Automation, Inc., Yaskawa Electric Corporation, General Electric, Crompton Greaves, WEG, Schneider, Emerson Electric, and Danfoss.
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According to a recent report published by Allied Market Research, titled, Variable Speed Drive Market by Type, Voltage, Application, and End User System: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global variable speed drive market is projected to reach at $26,544 million by 2023, growing at a CAGR of 5.6% from 2023 to 2026.
Variable speed drive is a device that regulates the speed and rotational force of electric motor by changing the frequency of the power being fed to the motor. Motors are widely used in industries and offices. In addition, more than 65% of industrial energy is consumed by motors. Motors operate in various machine such as sewage and irrigation pumps, paper machines, power plant fans, and milking machines.
Moreover, variable speed drive are essential components in electrical devices such as pump, fan, compressor, conveyor, and others where it plays a key role. Based on voltage, it is classified into low and medium voltage.
Increase in urbanization and industrialization in the emerging countries such as India, China, Brazil, and others drive the demand for the variable speed drive market. Further, the growth in need for energy efficiency, rise in trend of industrial automation, and reduction in operating costs of any intensive industry fuel the market growth. However, high cost of deployment is expected restrain the growth of the market.
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CHAPTER 7: VARIABLE SPEED DRIVES MARKt BY end -user
7.1. Overview
7.2. Mining & Minerals
7.2.1. Key market trends and opportunities
7.2.2. Market size and forecast by region
7.2.3. Market analysis by country
7.3. Waste and Wastewater
7.3.1. Key market trends and opportunities
7.3.2. Market size and forecast by region
7.3.3. Market analysis by country
7.4. Food and Beverage
7.4.1. Key market trends and opportunities
7.4.2. Market size and forecast by region
7.4.3. Market analysis by country
7.5. Others
7.5.1. Key market trends and opportunities
7.5.2. Market size and forecast by region
7.5.3. Market analysis by country
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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