Variable Frequency Drive Vfd Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

  • Report ID: ME_00123345
  • Format: Electronic (PDF)
  • Publish Type: Publish
  • Number of Pages: 250
Home Energy & Power variable frequency drive vfd ma....
  • Single User $3500
  • Multi User $4500
  • Enterprise User $5500
Report Description Table Of Content Research Methodology Download Free Sample

Market Snapshot

CAGR:6.92
2023
2032

Source: Market Expertz

RND-Favicon
Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 6.92
Energy & Power-companies
Energy & Power-Snapshot

Gain accurate insights regarding the negative impacts of COVID-19 on all markets and industries

Download Sample Pdf
Download Sample Pdf

Report Overview

The Variable Frequency Drive (VFD) Market is poised to experience significant growth, with an estimated Compound Annual Growth Rate (CAGR) of 4.35% between 2022 and 2032. This projected growth is anticipated to result in a substantial market size increase of approximately USD 17,079.64 million. Several key factors underpin this market's expansion, including the increasing demand for energy-efficient motor control solutions, the industrial automation and manufacturing sector's growth, and the need for precise motor speed control in various applications. A Variable Frequency Drive, commonly known as VFD or VSD (Variable Speed Drive), is a power electronics device used to control and adjust the speed of electric motors.

VFD Market Overview:

Drivers:

One of the primary drivers of the Variable Frequency Drive (VFD) Market's growth is the rising demand for energy-efficient motor control solutions. As energy conservation becomes a global priority, industries and commercial sectors are actively seeking ways to reduce energy consumption. VFDs offer a highly effective means of optimizing motor operations by adjusting motor speed according to load requirements, resulting in significant energy savings. This increased focus on sustainability and energy efficiency is fueling the adoption of VFDs across various industries.

Moreover, the growth of the industrial automation and manufacturing sector plays a pivotal role in the VFD market's expansion. Industries are increasingly implementing automation solutions to enhance productivity, reduce operational costs, and ensure consistent product quality. VFDs are essential components in motor control systems, enabling precise control over machinery speed and performance, which is vital for modern manufacturing processes.

Trends:

A key trend shaping the VFD market's growth is the integration of advanced digital control technologies and the Industrial Internet of Things (IIoT). VFD manufacturers are incorporating digital interfaces and communication protocols that allow for seamless integration with industrial automation systems. This integration enhances the overall control and monitoring capabilities, enabling real-time performance adjustments and remote diagnostics. As industries move towards smart factories and connected systems, VFDs are evolving to meet these demands, making them an integral part of Industry 4.0.

Additionally, there is a growing demand for VFDs in applications requiring precise motor speed control. Industries such as HVAC (Heating, Ventilation, and Air Conditioning), water treatment, and robotics rely on VFDs to achieve accurate speed modulation, resulting in improved system performance and energy efficiency. This trend is expected to continue as more industries recognize the benefits of VFD technology.

Restraints:

One of the challenges facing the VFD market is the complexity of VFD installation and programming. While VFDs offer significant advantages in terms of energy savings and motor control, they require expertise for proper installation, configuration, and maintenance. Inadequate installation or incorrect programming can lead to motor failures, reduced energy savings, and increased operational costs. Overcoming this challenge requires training and education within industries to ensure VFDs are effectively deployed.

Furthermore, the VFD market faces competition from alternative motor control technologies such as soft starters and direct-on-line starters. Understanding the specific requirements of different applications and selecting the most suitable motor control solution can be a hurdle for end-users.

VFD Market Segmentation by Application:

  • Industrial Manufacturing: The industrial manufacturing sector relies heavily on VFDs to control motors in various machinery, including conveyors, pumps, and compressors, contributing to increased operational efficiency.
  • HVAC Systems: VFDs play a crucial role in HVAC applications by modulating the speed of fans and pumps, optimizing energy consumption and maintaining comfortable indoor environments.

VFD Market Segmentation by Type:

  • Low Voltage VFDs: Low voltage VFDs are commonly used for applications requiring motor control in the range of 200V to 690V, making them suitable for various industries and commercial sectors.
  • Medium Voltage VFDs: Medium voltage VFDs are employed in applications requiring higher voltage ranges, typically above 690V, often found in large industrial processes and utilities.

VFD Market Segmentation by End-User:

  • Manufacturing: Manufacturing industries use VFDs extensively to enhance production efficiency, reduce energy consumption, and ensure consistent product quality.
  • Oil and Gas: VFDs are essential in the oil and gas sector for controlling pumps, compressors, and other critical equipment, optimizing operations and energy usage.

VFD Market Segmentation by Region:

  • North America: The U.S. and Canada are key contributors to the VFD market, driven by advanced industrial automation and a focus on energy efficiency.
  • Europe: European countries, including Germany and the U.K., are adopting VFDs to comply with stringent energy regulations and reduce carbon emissions.
  • Asia-Pacific: The Asia-Pacific region, including China and India, is experiencing robust growth in the VFD market due to expanding industrial sectors and infrastructure development.
  • Latin America: Some Latin American nations are investing in VFD technology to modernize their industrial processes and conserve energy.
  • Middle East and Africa: The Middle East and Africa are increasingly adopting VFDs to support their infrastructure projects and improve energy efficiency.

VFD Market Customer Landscape:

The VFD Market caters to a diverse customer base, including manufacturing facilities, commercial buildings, utilities, and industrial plants. Customers benefit from the energy savings, improved motor performance, and automation capabilities provided by VFDs.

Key Players in the VFD Market:

Leading companies in the VFD Market are at the forefront of innovation, developing advanced VFD systems with enhanced features and connectivity options. Some major players include:

  • ABB Group
  • Siemens AG
  • Schneider Electric SE
  • Danfoss Group
  • Rockwell Automation, Inc.
  • Eaton Corporation
  • Mitsubishi Electric Corporation
  • Fuji Electric Co., Ltd.
  • Yaskawa Electric Corporation
  • Toshiba International Corporation

These companies offer a wide range of VFD products and solutions tailored to different industries and applications.

Segment Overview:

The VFD Market report provides revenue forecasts at the global, regional, and country levels, offering insights into emerging trends and growth opportunities from 2023 to 2032.

Application Outlook (USD Million, 2023 - 2032):

  • Industrial Manufacturing
  • HVAC Systems

Type Outlook (USD Million, 2023 - 2032):

  • Low Voltage VFDs
  • Medium Voltage VFDs

End-User Outlook (USD Million, 2023 - 2032):

  • Manufacturing
  • Oil and Gas

Geography Outlook (USD Million, 2023 - 2032):

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The U.K.
  • Asia-Pacific
    • China
    • India
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • Saudi Arabia
    • South Africa

TABLE OF CONTENTS: GLOBAL Variable Frequency Drive (VFD) MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Variable Frequency Drive (VFD) MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Variable Frequency Drive (VFD) Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Power Of Suppliers

    4.5.2. Power Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. Variable Frequency Drive (VFD) MARKET BY type SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 AC

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 DC

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4 Servo

    5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Variable Frequency Drive (VFD) MARKET BY Application INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Pumps

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Fans

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 Compressors, and Conveyors

    6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Variable Frequency Drive (VFD) MARKET REGIONAL OUTLOOK

7.1. Variable Frequency Drive (VFD) Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.2. North America Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Variable Frequency Drive (VFD) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Variable Frequency Drive (VFD) Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Variable Frequency Drive (VFD) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 ABB (Switzerland)

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2 Siemens (Germany)

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3 Schneider Electric (France)

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4 Danfoss (Denmark)

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5 Rockwell (US)

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6 Crompton Greaves (India)

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7 Eaton (Ireland)

   9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8 Fuji (Japan)

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9 Hitachi (Japan)

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiativesn

9.10 NIDEC (Japan)

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

You can also purchase parts of this report. Do you want to check out a section wise price list?
Request for Special Pricing

Personalized Business Report Tailored to Your Requirements

  • Our expert analysts collaborate directly with you to comprehend your specific needs.
  • Get data on regions, segments, competitors, and vendors of your choice.
  • Information is presented in alignment with your exact preferences and formatting.
Request for customization
Report Snapshot
Free Sample Report

"Find new revenue generation opportunities"