Press release
Global Variable Frequency Drives Market to Reach US$24.7 bn by 2020, Rising Need to Curb Electricity Consumption Drives Growth.
A new research study on the global variable frequency drives market, published by Transparency Market Research, estimates the market to expand at a CAGR of 7.0% between 2014 and 2020 and reach a value of US$24.7 bn by the end of the forecast period. The market report, titled “Variable Frequency Drives Market - Global Industry Analysis, Size, Share, Growth Trends And Forecast 2014 - 2020”, states that the worldwide variable frequency drives market stood at US$15.48 bn in 2013.Get Free PDF Brochure for more Professional and Technical industry insights: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3452
According to the research report, the increasing need to curb the global consumption of energy is boosting the demand for variable frequency drives significantly. Apart from this, the rising usage of electromagnetic induction in a wide range of electronic products is also fueling the market for variable frequency drives across the world. On the flip side, the market is expected to be hampered by the high cost of variable frequency drives over the next few years, says the report.
The worldwide market for variable frequency drives has been studied on the basis of type, voltage range, and end user in this report.AC, DC, and servo are the main types of variable frequency drives available in the global market. At present, the market is witnessing a surge in demand for AC drives and DC drives. However, the servo drives segment is projected to surpass both the segments in terms of demand over the forecast period.
On the basis of the voltage range, low voltage drives and medium voltage drives are the key segments of the global variable frequency market. The low voltage drives segment leads the worldwide market at present.The manufacturing, infrastructure development, chemical processing, oil and gas, power generation, and automotive industries are major application areas for variable frequency drives in the global arena, notes the study.
The report also analyzes the global market for variable frequency drives on the basis of its regional spread. Europe, Asia Pacific, the Americas, and the Middle East and Africa are the prime regional markets for these drives. Among these, Asia Pacific has acquired the leading position at present owing to the rapid rise of the chemical production and processing industry in this region. Analysts expect it to maintain its dominance over the forecast period.
Other regional variable frequency drives markets are also projected to register substantial growth in the coming years. The rise in the construction industry is likely to propel the variable frequency drives market in the Middle East and Africa while the surge in the automotive industry is expected to fuel the demand for these drives in EuropeIn addition to this, the power generation market, together with the oil and gas industry, is anticipated to support the Americas variable frequency drives market during the forecast period, the report states.
Vacon PLC, Siemens AG, Schneider Electric, Mitsubishi Electric Corp., Fuji Electric Co. Ltd., Emerson Industrial Automation, Eaton Corp. Plc, Danfoss VLT, Crompton Greaves, and ABB Ltd. are some of the key manufacturers of variable frequency drives across the world, says the market study.
The global variable frequency drives market is segmented into:
By Voltage Range
Low Voltage
Medium Voltage
By Type
AC
DC
Servo
By End-Use Application
Manufacturing
Chemical Processing
Infrastructure Development
Oil and Gas
Automotive
Power Generation
Others
About Us
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact
Mr. Sudip.S
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
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 Global Variable Frequency Drives Market to Reach US$24.7 bn by 2020, Rising Need to Curb Electricity Consumption Drives Growth. here
News-ID: 347784 • Views: …
More Releases from Transparency Market Research
Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 …
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth.
Uncover essential discoveries and trends from…
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra …
The global Technetium‐99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth.
Discover essential conclusions and data from our Report in this sample -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100
Analysts' Viewpoint
The Technetium‐99m…
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to …
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equine…
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of …
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,…
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors…
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 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…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…
