U.S. Variable Frequency Drive (VFD) Market Trends, Covid-19 Impact Analysis, Share by 2025 | Leading players are Johnson Controls, Honeywell, ABB, Emerson, Siemens
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U.S. variable frequency drive market has witnessed commendable gains over the years due to the growing environmental concerns favored by the introduction of reforms and regulations linked with the efficiency of energy. In the year 2018, variable frequency drive registered an annual deployment of 2,000 thousand units in the country.
Rapid industrialization in the region due to the efforts undertaken by the government and private entities along with efforts towards energy optimization especially across large scale industries will support the demand for the product. Moreover, investments made towards research and development, fiscal incentives, and the demand for enhanced products are some of the major factors magnifying the demand for the drives.
Enlisted below are some of the key factors projected to influence U.S. variable frequency drive market in the coming years.
Awareness regarding the need to adopt energy-efficient solutions
The industries in the U.S. are realizing the need to shift towards energy-efficient solutions. Decreasing the consumption of energy, reducing the cost of maintenance and increasing the productivity has encouraged the manufacturers to use latest technologies along with the prevailing standards and codes. Technological advancements with the integration of innovative solutions will supplement the U.S. VFD industry trends.
Frequent product innovations achieved in the segment
Schneider Electric USA launched Altivar Machine variable-speed drives that are designed to meet the needs of smart machines and provide OEMs the go-to-choice for drivers in both simple and complex applications. The 12 VFD range in Altivar combines flexibility, reliability, and advanced sensorless vector technology in small spaces.
The technology comprises a user-friendly navigation wheel on the faceplate, integrated communications port, and a multi-loader that streamlines set up by ensuring programming easily. Some of the other prominent companies providing the component include Rockwell, ABB, Yaskawa, Hitachi, WEG Electric, Johnson Controls, and Siemens, among various others.
Use of MV drives in commercial and industrial structures
MV drives have also registered considerable gains due to their extensive usage in the commercial and industrial establishments. Ongoing retrofitting and replacement of the existing technologies in conjunction with the restructuring of industry and rules has positively impacted the businesses over time. An increase in fund allocation along with industrial focus towards the enhancement of conventional units across the nation has supported the industry outlook.
Extensive adoption of direct current variable frequency drive
The direct current VFD market has gained considerable traction over the years. The user’s operational profitability and the ability to provide a quick return on investment by improving the process will support the demand of the product in the region. The declining cost of operation, system reliability, power factor control, reduced equipment set up time, energy savings, and reduced maintenance are some of the driving factors.
Variable Frequency Drive Market https://www.globenewswire.com/news-release/2020/03/05/1995743/0/en/Variable-Frequency-Drive-Market-to-hit-40-billion-by-2026-Says-Global-Market-Insights-Inc.html
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