Prioritizing Your Variable Frequency Drives Market To Get The Most Out Of Your Business

The variable frequency drives market size will grow by USD 5.11 billion during 2019-2023. The market’s growth momentum will accelerate during the forecast period because of the increase in year-over-year growth. The report provides a detailed analysis of the market by type (low voltage drives and medium voltage drives), end-users (food and beverages, water and wastewater treatment, oil and gas, power generation, mining and metals, and other end-users), and geography (APAC, Europe, MEA, North America, and South America). The variable frequency drive market report analyzes the market’s competitive landscape and offers information on several variable frequency drive manufacturers including ABB, Danfoss, Rockwell Automation Inc., Schneider Electric, and Siemens.

Market Overview 

Variable Frequency Drives (VFD) Market
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from the report.

Variable Frequency Drives Market: Key Drivers and Trends

These regulations are aimed at increasing the efficient use of electricity in industries. To comply with such regulations, industrial operators are increasingly focusing on the use of energy-efficient equipment such as variable frequency drives (VFD). The shift toward the use of more energy-efficient motors has increased the overall CAPEX for the industrial end-users. By adjusting the voltage/frequency curve as per the system requirements, VFDs help in reducing energy consumption and total energy loss. With the increasing focus on energy efficiency in industries, the demand for these drives is also bound to grow.
Technological advancements have enabled the integration of IoT in several industrial devices such as drives, motors, and sensors. Some vendors are offering these drives with IoT capabilities which will help end-users to control and monitor devices remotely and take quick actions based on the provided feedback. The ease of operation provided by such IoT enabled VFDs will further boost its demand from end-user industries. The advent of IoT in these drives is identified as one of the key trends that will drive the variable frequency drives market growth at a CAGR of almost 5% during the forecast period.

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