Product Code: A31405
The global variable frequency drive market size was valued at $20.6 billion in 2021, and projected to reach $33.6 billion by 2031, with a CAGR of 5.1% from 2022 to 2031.
Variable Frequency Drives (VFDs) are electronic devices that control the speed of alternating current motors. Variable Frequency Drives (VFDs) are widely used in high-voltage alternating current devices in a variety of sectors. Optimization of cost, reduction of total cost of ownership, and conservation of energy have always been a cornerstone of industry participants. These parameters need to be considered when operating with heavy loads. Therefore, the global variable frequency drive market registered volume sales exceeding 32 million units in 2020. Variable frequency drives have been consistently improving system reliability and performance for the past 40 years. They are projected to continue to impact industrial growth during the forecast period.
Variable frequency drives are increasingly integrated in Industry 4.0, specifically across critical environments across industrial internet of things (IIoT). Variable speed drives equipped with embedded logic as onboard programmable logic controllers are becoming increasingly mainstream as factories increasingly embrace automation. IIoT benefits accrued from the application of variable frequency drive include enhanced remote access. Technicians can monitor project and equipment conditions from anywhere, with workers receiving alerts more quickly, which enable them to correct anomalies in a timely manner. It also enables predictive maintenance and real-time monitoring. Prominent manufacturers increase research and development to roll out smart variable frequency drive owing to these developments. An example is of Applied Machine & Motion Control (AMMC) which markets the Yaskawa Microdrive collections J1000 and V1000 respectively. Such developments are expected to play vital role in the variable frequency drive market growth.
The surge in the explosion with regards to construction and automotive sectors in the developing countries of Asia-Pacific region will increase the margin profits earned by the market players. In addition, Germany and the U.S. are also expected to yield immense opportunities due to the presence of increased demand for products from automotive sectors.
The variable frequency drive market is segmented on the basis of by type, voltage type, power rating, application, end use and region. On the basis of type, it is categorized into AC drive, DC drive, and servo drive. On the basis of voltage type, the market is bifurcated into low and medium. On the basis of power rating, the market is classified into micro, low, medium, and high. On the basis of application, the market is divided into pumps, conveyors, fans, compressors, and others. In addition, on the basis of end use, the global variable frequency drive market is segmented into oil & gas, industrial, power, and infrastructure.
On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. In the present days, Asia-Pacific accounts for the largest share of the market, followed by North America and Europe.
The major companies profiled in this report include ABB, Siemens, Danfoss, Schneider Electric, General Electric, Hitachi, Honeywell Intenational, Nord Drive Systems, Techsuppen, CG Power, Saksun Industries, A.S. Automation, Parker Hannfin, Sew-Eurodrive, Rockwell Automation, Fuji Electric, and Delta Electronics. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the detection technologies have led to attain key developments in the global variable frequency drive market trends.
Impact of COVID-19 on Global Variable Frequency Drive Market
The global COVID-19 pandemic has negative impact on the variable frequency drive market. This market has experienced lower than anticipated demand across all regions compared to pre-pandemic levels. Variable frequency drive is mostly dependent on the demand for electric motor. The production of electric motor witnessed a significant negative near-term impact of the COVID-19 pandemic due to supply chain disruptions. Industry players anticipate delivery and construction slowdowns, either due to the shutdown of industrial operations to curb the spread of the virus or because the workers have tested positive. Many components and parts used in the manufacturing of electric motors are procured from China, the U.S., and some European countries. The decline in manufacturing activities in China and the U.S. has hampered the production of variable frequency drives in the past 2 years.
Post pandemic, the market is expected to recover due to eased lockdown restrictions in most nations. Furthermore, the governments of various countries across the globe have issued policies regarding sustainable development in coming years which is projected to have positive impact on the market. The presence of investment in the sustainable oil & gas production plant facilities in the developing countries such as India and China due to low availability of fossil fuel resources lead to surge in the market growth after the pandemic.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the variable frequency drive market analysis from 2021 to 2031 to identify the prevailing variable frequency drive market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the variable frequency drive market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global variable frequency drive market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
- Pumps
- Conveyors
- Fans
- Compressors
- Others
By End use
- Oil and gas
- Industrial
- Power
- Infrastructure
By Type
- AC Drive
- DC Drive
- Servo Drive
By Voltage type
By Power rating
- Micro (0-5 kW)
- Low (6-40 kW)
- Medium (41-200 kW)
- High (and200 kW)
By Region
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest Of LAMEA
- Key Market Players
- ABB Ltd
- Siemens AG
- Sauer-Danfoss Inc.
- Schneider Electric
- General Electric
- Hitachi,Ltd
- Honeywell Intenational
- Nord Drive Systems
- Techsuppen
- CG Power
- Saksun Industries
- A.S. Automation
- Parker Hannifin Corporation
- Sew-Eurodrive
- Rockwell Automation
- Fuji Electric
- Delta Electronics
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.4.Top player positioning
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
- 3.6.COVID-19 Impact Analysis on the market
- 3.7.Value Chain Analysis
- 3.8.Key Regulation Analysis
CHAPTER 4: VARIABLE FREQUENCY DRIVE MARKET, BY TYPE
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 AC Drive
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market analysis by country
- 4.3 DC Drive
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market analysis by country
- 4.4 Servo Drive
- 4.4.1 Key market trends, growth factors and opportunities
- 4.4.2 Market size and forecast, by region
- 4.4.3 Market analysis by country
CHAPTER 5: VARIABLE FREQUENCY DRIVE MARKET, BY VOLTAGE TYPE
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 Low
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market analysis by country
- 5.3 Medium
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market analysis by country
CHAPTER 6: VARIABLE FREQUENCY DRIVE MARKET, BY POWER RATING
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2 Micro (0-5 kW)
- 6.2.1 Key market trends, growth factors and opportunities
- 6.2.2 Market size and forecast, by region
- 6.2.3 Market analysis by country
- 6.3 Low (6-40 kW)
- 6.3.1 Key market trends, growth factors and opportunities
- 6.3.2 Market size and forecast, by region
- 6.3.3 Market analysis by country
- 6.4 Medium (41-200 kW)
- 6.4.1 Key market trends, growth factors and opportunities
- 6.4.2 Market size and forecast, by region
- 6.4.3 Market analysis by country
- 6.5 High (>200 kW)
- 6.5.1 Key market trends, growth factors and opportunities
- 6.5.2 Market size and forecast, by region
- 6.5.3 Market analysis by country
CHAPTER 7: VARIABLE FREQUENCY DRIVE MARKET, BY APPLICATION
- 7.1 Overview
- 7.1.1 Market size and forecast
- 7.2 Pumps
- 7.2.1 Key market trends, growth factors and opportunities
- 7.2.2 Market size and forecast, by region
- 7.2.3 Market analysis by country
- 7.3 Conveyors
- 7.3.1 Key market trends, growth factors and opportunities
- 7.3.2 Market size and forecast, by region
- 7.3.3 Market analysis by country
- 7.4 Fans
- 7.4.1 Key market trends, growth factors and opportunities
- 7.4.2 Market size and forecast, by region
- 7.4.3 Market analysis by country
- 7.5 Compressors
- 7.5.1 Key market trends, growth factors and opportunities
- 7.5.2 Market size and forecast, by region
- 7.5.3 Market analysis by country
- 7.6 Others
- 7.6.1 Key market trends, growth factors and opportunities
- 7.6.2 Market size and forecast, by region
- 7.6.3 Market analysis by country
CHAPTER 8: VARIABLE FREQUENCY DRIVE MARKET, BY END USE
- 8.1 Overview
- 8.1.1 Market size and forecast
- 8.2 Oil and gas
- 8.2.1 Key market trends, growth factors and opportunities
- 8.2.2 Market size and forecast, by region
- 8.2.3 Market analysis by country
- 8.3 Industrial
- 8.3.1 Key market trends, growth factors and opportunities
- 8.3.2 Market size and forecast, by region
- 8.3.3 Market analysis by country
- 8.4 Power
- 8.4.1 Key market trends, growth factors and opportunities
- 8.4.2 Market size and forecast, by region
- 8.4.3 Market analysis by country
- 8.5 Infrastructure
- 8.5.1 Key market trends, growth factors and opportunities
- 8.5.2 Market size and forecast, by region
- 8.5.3 Market analysis by country
CHAPTER 9: VARIABLE FREQUENCY DRIVE MARKET, BY REGION
- 9.1 Overview
- 9.1.1 Market size and forecast
- 9.2 North America
- 9.2.1 Key trends and opportunities
- 9.2.2 North America Market size and forecast, by Type
- 9.2.3 North America Market size and forecast, by Voltage type
- 9.2.4 North America Market size and forecast, by Power rating
- 9.2.5 North America Market size and forecast, by Application
- 9.2.6 North America Market size and forecast, by End use
- 9.2.7 North America Market size and forecast, by country
- 9.2.7.1 U.S.
- 9.2.7.1.1 Market size and forecast, by Type
- 9.2.7.1.2 Market size and forecast, by Voltage type
- 9.2.7.1.3 Market size and forecast, by Power rating
- 9.2.7.1.4 Market size and forecast, by Application
- 9.2.7.1.5 Market size and forecast, by End use
- 9.2.7.2 Canada
- 9.2.7.2.1 Market size and forecast, by Type
- 9.2.7.2.2 Market size and forecast, by Voltage type
- 9.2.7.2.3 Market size and forecast, by Power rating
- 9.2.7.2.4 Market size and forecast, by Application
- 9.2.7.2.5 Market size and forecast, by End use
- 9.2.7.3 Mexico
- 9.2.7.3.1 Market size and forecast, by Type
- 9.2.7.3.2 Market size and forecast, by Voltage type
- 9.2.7.3.3 Market size and forecast, by Power rating
- 9.2.7.3.4 Market size and forecast, by Application
- 9.2.7.3.5 Market size and forecast, by End use
- 9.3 Europe
- 9.3.1 Key trends and opportunities
- 9.3.2 Europe Market size and forecast, by Type
- 9.3.3 Europe Market size and forecast, by Voltage type
- 9.3.4 Europe Market size and forecast, by Power rating
- 9.3.5 Europe Market size and forecast, by Application
- 9.3.6 Europe Market size and forecast, by End use
- 9.3.7 Europe Market size and forecast, by country
- 9.3.7.1 Germany
- 9.3.7.1.1 Market size and forecast, by Type
- 9.3.7.1.2 Market size and forecast, by Voltage type
- 9.3.7.1.3 Market size and forecast, by Power rating
- 9.3.7.1.4 Market size and forecast, by Application
- 9.3.7.1.5 Market size and forecast, by End use
- 9.3.7.2 UK
- 9.3.7.2.1 Market size and forecast, by Type
- 9.3.7.2.2 Market size and forecast, by Voltage type
- 9.3.7.2.3 Market size and forecast, by Power rating
- 9.3.7.2.4 Market size and forecast, by Application
- 9.3.7.2.5 Market size and forecast, by End use
- 9.3.7.3 France
- 9.3.7.3.1 Market size and forecast, by Type
- 9.3.7.3.2 Market size and forecast, by Voltage type
- 9.3.7.3.3 Market size and forecast, by Power rating
- 9.3.7.3.4 Market size and forecast, by Application
- 9.3.7.3.5 Market size and forecast, by End use
- 9.3.7.4 Italy
- 9.3.7.4.1 Market size and forecast, by Type
- 9.3.7.4.2 Market size and forecast, by Voltage type
- 9.3.7.4.3 Market size and forecast, by Power rating
- 9.3.7.4.4 Market size and forecast, by Application
- 9.3.7.4.5 Market size and forecast, by End use
- 9.3.7.5 Spain
- 9.3.7.5.1 Market size and forecast, by Type
- 9.3.7.5.2 Market size and forecast, by Voltage type
- 9.3.7.5.3 Market size and forecast, by Power rating
- 9.3.7.5.4 Market size and forecast, by Application
- 9.3.7.5.5 Market size and forecast, by End use
- 9.3.7.6 Rest of Europe
- 9.3.7.6.1 Market size and forecast, by Type
- 9.3.7.6.2 Market size and forecast, by Voltage type
- 9.3.7.6.3 Market size and forecast, by Power rating
- 9.3.7.6.4 Market size and forecast, by Application
- 9.3.7.6.5 Market size and forecast, by End use
- 9.4 Asia-Pacific
- 9.4.1 Key trends and opportunities
- 9.4.2 Asia-Pacific Market size and forecast, by Type
- 9.4.3 Asia-Pacific Market size and forecast, by Voltage type
- 9.4.4 Asia-Pacific Market size and forecast, by Power rating
- 9.4.5 Asia-Pacific Market size and forecast, by Application
- 9.4.6 Asia-Pacific Market size and forecast, by End use
- 9.4.7 Asia-Pacific Market size and forecast, by country
- 9.4.7.1 China
- 9.4.7.1.1 Market size and forecast, by Type
- 9.4.7.1.2 Market size and forecast, by Voltage type
- 9.4.7.1.3 Market size and forecast, by Power rating
- 9.4.7.1.4 Market size and forecast, by Application
- 9.4.7.1.5 Market size and forecast, by End use
- 9.4.7.2 Japan
- 9.4.7.2.1 Market size and forecast, by Type
- 9.4.7.2.2 Market size and forecast, by Voltage type
- 9.4.7.2.3 Market size and forecast, by Power rating
- 9.4.7.2.4 Market size and forecast, by Application
- 9.4.7.2.5 Market size and forecast, by End use
- 9.4.7.3 India
- 9.4.7.3.1 Market size and forecast, by Type
- 9.4.7.3.2 Market size and forecast, by Voltage type
- 9.4.7.3.3 Market size and forecast, by Power rating
- 9.4.7.3.4 Market size and forecast, by Application
- 9.4.7.3.5 Market size and forecast, by End use
- 9.4.7.4 South Korea
- 9.4.7.4.1 Market size and forecast, by Type
- 9.4.7.4.2 Market size and forecast, by Voltage type
- 9.4.7.4.3 Market size and forecast, by Power rating
- 9.4.7.4.4 Market size and forecast, by Application
- 9.4.7.4.5 Market size and forecast, by End use
- 9.4.7.5 Rest of Asia-Pacific
- 9.4.7.5.1 Market size and forecast, by Type
- 9.4.7.5.2 Market size and forecast, by Voltage type
- 9.4.7.5.3 Market size and forecast, by Power rating
- 9.4.7.5.4 Market size and forecast, by Application
- 9.4.7.5.5 Market size and forecast, by End use
- 9.5 LAMEA
- 9.5.1 Key trends and opportunities
- 9.5.2 LAMEA Market size and forecast, by Type
- 9.5.3 LAMEA Market size and forecast, by Voltage type
- 9.5.4 LAMEA Market size and forecast, by Power rating
- 9.5.5 LAMEA Market size and forecast, by Application
- 9.5.6 LAMEA Market size and forecast, by End use
- 9.5.7 LAMEA Market size and forecast, by country
- 9.5.7.1 Brazil
- 9.5.7.1.1 Market size and forecast, by Type
- 9.5.7.1.2 Market size and forecast, by Voltage type
- 9.5.7.1.3 Market size and forecast, by Power rating
- 9.5.7.1.4 Market size and forecast, by Application
- 9.5.7.1.5 Market size and forecast, by End use
- 9.5.7.2 Saudi Arabia
- 9.5.7.2.1 Market size and forecast, by Type
- 9.5.7.2.2 Market size and forecast, by Voltage type
- 9.5.7.2.3 Market size and forecast, by Power rating
- 9.5.7.2.4 Market size and forecast, by Application
- 9.5.7.2.5 Market size and forecast, by End use
- 9.5.7.3 South Africa
- 9.5.7.3.1 Market size and forecast, by Type
- 9.5.7.3.2 Market size and forecast, by Voltage type
- 9.5.7.3.3 Market size and forecast, by Power rating
- 9.5.7.3.4 Market size and forecast, by Application
- 9.5.7.3.5 Market size and forecast, by End use
- 9.5.7.4 Rest of LAMEA
- 9.5.7.4.1 Market size and forecast, by Type
- 9.5.7.4.2 Market size and forecast, by Voltage type
- 9.5.7.4.3 Market size and forecast, by Power rating
- 9.5.7.4.4 Market size and forecast, by Application
- 9.5.7.4.5 Market size and forecast, by End use
CHAPTER 10: COMPANY LANDSCAPE
- 10.1. Introduction
- 10.2. Top winning strategies
- 10.3. Product Mapping of Top 10 Player
- 10.4. Competitive Dashboard
- 10.5. Competitive Heatmap
- 10.6. Key developments
CHAPTER 11: COMPANY PROFILES
- 11.1 ABB Ltd
- 11.1.1 Company overview
- 11.1.2 Company snapshot
- 11.1.3 Operating business segments
- 11.1.4 Product portfolio
- 11.1.5 Business performance
- 11.1.6 Key strategic moves and developments
- 11.2 Siemens AG
- 11.2.1 Company overview
- 11.2.2 Company snapshot
- 11.2.3 Operating business segments
- 11.2.4 Product portfolio
- 11.2.5 Business performance
- 11.2.6 Key strategic moves and developments
- 11.3 Sauer-Danfoss Inc.
- 11.3.1 Company overview
- 11.3.2 Company snapshot
- 11.3.3 Operating business segments
- 11.3.4 Product portfolio
- 11.3.5 Business performance
- 11.3.6 Key strategic moves and developments
- 11.4 Schneider Electric
- 11.4.1 Company overview
- 11.4.2 Company snapshot
- 11.4.3 Operating business segments
- 11.4.4 Product portfolio
- 11.4.5 Business performance
- 11.4.6 Key strategic moves and developments
- 11.5 General Electric
- 11.5.1 Company overview
- 11.5.2 Company snapshot
- 11.5.3 Operating business segments
- 11.5.4 Product portfolio
- 11.5.5 Business performance
- 11.5.6 Key strategic moves and developments
- 11.6 Hitachi,Ltd
- 11.6.1 Company overview
- 11.6.2 Company snapshot
- 11.6.3 Operating business segments
- 11.6.4 Product portfolio
- 11.6.5 Business performance
- 11.6.6 Key strategic moves and developments
- 11.7 Honeywell Intenational
- 11.7.1 Company overview
- 11.7.2 Company snapshot
- 11.7.3 Operating business segments
- 11.7.4 Product portfolio
- 11.7.5 Business performance
- 11.7.6 Key strategic moves and developments
- 11.8 Nord Drive Systems
- 11.8.1 Company overview
- 11.8.2 Company snapshot
- 11.8.3 Operating business segments
- 11.8.4 Product portfolio
- 11.8.5 Business performance
- 11.8.6 Key strategic moves and developments
- 11.9 Techsuppen
- 11.9.1 Company overview
- 11.9.2 Company snapshot
- 11.9.3 Operating business segments
- 11.9.4 Product portfolio
- 11.9.5 Business performance
- 11.9.6 Key strategic moves and developments
- 11.10 CG Power
- 11.10.1 Company overview
- 11.10.2 Company snapshot
- 11.10.3 Operating business segments
- 11.10.4 Product portfolio
- 11.10.5 Business performance
- 11.10.6 Key strategic moves and developments
- 11.11 Saksun Industries
- 11.11.1 Company overview
- 11.11.2 Company snapshot
- 11.11.3 Operating business segments
- 11.11.4 Product portfolio
- 11.11.5 Business performance
- 11.11.6 Key strategic moves and developments
- 11.12 A.S. Automation
- 11.12.1 Company overview
- 11.12.2 Company snapshot
- 11.12.3 Operating business segments
- 11.12.4 Product portfolio
- 11.12.5 Business performance
- 11.12.6 Key strategic moves and developments
- 11.13 Parker Hannifin Corporation
- 11.13.1 Company overview
- 11.13.2 Company snapshot
- 11.13.3 Operating business segments
- 11.13.4 Product portfolio
- 11.13.5 Business performance
- 11.13.6 Key strategic moves and developments
- 11.14 Sew-Eurodrive
- 11.14.1 Company overview
- 11.14.2 Company snapshot
- 11.14.3 Operating business segments
- 11.14.4 Product portfolio
- 11.14.5 Business performance
- 11.14.6 Key strategic moves and developments
- 11.15 Rockwell Automation
- 11.15.1 Company overview
- 11.15.2 Company snapshot
- 11.15.3 Operating business segments
- 11.15.4 Product portfolio
- 11.15.5 Business performance
- 11.15.6 Key strategic moves and developments
- 11.16 Fuji Electric
- 11.16.1 Company overview
- 11.16.2 Company snapshot
- 11.16.3 Operating business segments
- 11.16.4 Product portfolio
- 11.16.5 Business performance
- 11.16.6 Key strategic moves and developments
- 11.17 Delta Electronics
- 11.17.1 Company overview
- 11.17.2 Company snapshot
- 11.17.3 Operating business segments
- 11.17.4 Product portfolio
- 11.17.5 Business performance
- 11.17.6 Key strategic moves and developments