Variable Frequency Drives Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, And Growth Forecast from 2021 To 2026

The Variable Frequency Drives Market report is an inclusive study where the report’s goal is to give in-depth information on the industry, including a market overview, major trends, and business strategies for the projected period of the Variable Frequency Drives market. The research provides information on company profiles, product pictures and specifications, capacity, production, price, cost, revenue, and contact information for the worldwide main leading industry players in the Variable Frequency Drives market.

The Variable Frequency Drives Market is anticipated to register a CAGR of 4.8% over the forecast period 2021 – 2026.

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The Major Players of Variable Frequency Drives Market are: Crompton Greaves Ltd, Honeywell International Inc., Rockwell Automations Inc., Hitachi Group, Siemens AG, Mitsubishi Corporation, Toshiba Corporation, Schneider Electric SE, Johnson Controls Inc., Nidec Corporation, Danfoss A/S

This study is often used to determine which market segments, regions, or nations to focus their efforts and resources on in the next years to maximize growth and profitability. This research takes into account the impact of the COVID-related economic slump, as well as a competitive market landscape and a continuous in-depth assessment of the sector's leading vendors/key players.

Key Market Trends

Energy and Power Segment to Hold Significant Market Share

- Variable Frequency Drives (VFDs) play the critical role of saving energy, improving performance, simplifying the system, and cutting downtime in Nuclear Reactors. For instance, during operations when the fast passage of liquid is required to cool down the reactor core, it is usual to have four big 6kV recirculation pumps and more than 100 control values to operate simultaneously. This factor accounts for over 25% of the energy costs to run a nuclear power plant.
- Further, the applications of drive technology are assisting the plants with protecting nuclear fuel and fuel rods, both of which are vulnerable to turbulence, by ensuring continuous circulation of water without disruption. The regulations are very stringent in this respect. When the electricity supply is increased, its ascension should be gradual, which can be achieved through precise control of VFDs.

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Asia Pacific to Witness Significant Growth Rate

- The variable-frequency drive market is anticipated to hold a significant share in China, owing to the increasing operations primarily across power generation and the oil and gas industry, along with bold spending towards the establishment of manufacturing facilities.
- Moreover, the escalating trade war between China and the United States has enabled the country to further focus on oil and gas production. In 2019, the country has initiated a capital investment in oil exploration by 20%, to USD 77 billion, in order to boost production in two old oilfields. This is expected to drive the market for variable frequency drives in the oil and gas industry in China.
- The Indian variable frequency drives market is obtaining a growth phase, with increasing energy prices leading to a need for efficient motor control systems and drives. Moreover, several government regulations to cut down energy usage, carbon emission, and electricity are likely to result in consumer inclination to uses energy-saving variable frequency drives.

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Highlights of Variable Frequency Drives Market report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market

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