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Variable Frequency Drive (VFD) Market will Develop at a CAGR of 7.2% by 2026

11-02-2017 07:54 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Variable Frequency Drive (VFD) Market will Develop at a CAGR

Future Market Insights (FMI) delivers key insights on the global variable frequency drive market in its latest report titled “Variable Frequency Drive (VFD) Market: Global Industry Analysis and Opportunity Assessment, 2016 - 2026.” According to FMI’s report, the variable frequency drive (VFD) market is expected to increase at 7.2% CAGR in terms of value during 2016-2026; volume-wise, FMI estimates the VFD market to expand at 8.5% CAGR.

Click to View Complete Report @ https://www.futuremarketinsights.com/reports/global-variable-frequency-drives-market

Growth of the global variable frequency drive market is mainly driven upsurge in energy prices, introduction of variable frequency drives that can be retrofitted on existing motors, widening application areas, and tightening of energy-efficiency norms. VFD manufacturers are focusing on diversifying their variable frequency drive portfolio in order to enhance their presence in the market.

By end-use application, the global variable frequency drive market is segmented into pump, HVAC, fans, compressor, conveyor and ‘other’. Among these, the pump segment dominated the overall market in terms of value with over 30% share in 2014; however, this segment will witness a decrease of 90 BPS in its market share by the end of 2026.

By end-use industry, the market is segmented into oil & gas, food processing, automotive, metals & mining, pulp & paper and other end-use industries. Of these segments, the oil & gas end-use industry segment dominated the market in terms of both value and volume contribution in 2014.

Region-wise, the Asia Pacific Excluding Japan (APEJ) market dominated the global VFD market in 2014, accounting for over 30% share in terms of both value and volume. APEJ is expected to remain the most lucrative market for variable frequency drives during the forecast period as well. Expansion of industrial base and manufacturing capacities is fuelling the growth of APEJ market.

Key Players in Variable Frequency Drive Market

Some of the key players identified in the global variable frequency drive market are Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, Siemens AG, ABB Ltd., American Electric Technologies Inc., General Electric Company, Hitachi Limited, Honeywell International Inc., Rockwell Automation Inc., Johnson Controls Inc., Emerson Industrial Automation, Toshiba International Corporation and Schneider Electric SE. Major players in the market follow the strategy of introducing innovative and cost-effective variable frequency drives to buy out competition.

Report Overview, with TOC @ https://www.futuremarketinsights.com/reports/global-variable-frequency-drives-market/toc

ABOUT US

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, an aerial view of the competitive framework, and future market trends.

CONTACT

Future Market Insights

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Valley Cottage, NY 10989,

United States

T: +1-347-918-3531

F: +1-845-579-5705

Email: sales@futuremarketinsights.com

Website: www.futuremarketinsights.com

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