Variable Frequency Drive (VFD) Market By System Type, By End User, By Region, Industry Analysis and Forecast, 2021 – 2031

The global automotive industry has made prolific advances in the recent past. Emerging as a multibillion dollar industry, the autonomous market is characterized by the emergence of a plethora of start-up investments. Consequently, adoption of high-end HVAC systems and pumps has registered an impressive uptick. According to FMI’s projections, the aforementioned segments collectively accounted for nearly US$ 10 Bn as of 2019.

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Prolific growth opportunities exist in the Chinese market, owing to an ever mushrooming automotive industry. Future Market Insights estimates the economic giant to produce 4.5 million variable frequency drives by 2021-end, as production cycles revert to normalcy in the aftermath of the coronavirus crisis. Hence, manufacturers are introducing a slew of technological innovations to tap this ever expanding opportunity, thus generating powerful revenue ecosystems across the forecast period.

Key Takeaways of Variable Frequency Drives Market Study
• AC drives adoption surging in popularity by drive type; set to acquire 260 BPS by 2031-end
• U.S. and Germany to emerge as highly lucrative markets, owing to growing EV sales
• Growing concerns over excessive power consumption compelling automotive manufacturers to invest in low-voltage VFDs
• Regenerative applications to find growing applications, reaching nearly US$ 15 Bn by 2021-end
• Pumps and HVAC systems to collectively expand at a value CAGR worth 13% from 2021-2031

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Competitive Landscape
The variable frequency drives market is a highly competitive market, with a sizeable presence of both global as well as domestic players. However, key players account for nearly half of the market share. It is characterized by large supplier base and strong B2B networks.

The market has robust partnerships throughout the value chain. Suppliers of variable frequency drives adopt acquisition and regional expansion strategies to establish a foothold. Brand consciousness and aggressive marketing makes it challenging for new entrants in the variable frequency drives market.

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By segmentation:
Drive Type
• AC Drive
• DC Drive
Voltage Range
• Low Voltage
• High Voltage
Application Type
• Standard
• Regenerative
End-use Application
• Pumps
• Fan
• Compressor
• Conveyor
• HVAC
• Others
End-use Industry
• Oil & Gas
• Food processing
• Automotive
• Mining & Metals
• Pulp & Paper
• Others
Region
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Middle East and Africa (MEA)

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

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