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Variable Frequency Drive Market By Type, By Voltage type, By Power rating, By Application, By End use: Global Opportunity Analysis and Industry Forecast, 2021-2031

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    Report

  • 346 Pages
  • September 2022
  • Region: Global
  • Allied Market Research
  • ID: 5713088
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

  • Low
  • Medium

By Power rating

  • Micro (0-5 kW)
  • Low (6-40 kW)
  • Medium (41-200 kW)
  • High (and200 kW)

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • 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
Frequently Asked Questions about the Global Variable Frequency Drive Market

What is the estimated value of the Global Variable Frequency Drive Market?

The Global Variable Frequency Drive Market was estimated to be valued at $20.6 billion in 2021.

What is the growth rate of the Global Variable Frequency Drive Market?

The growth rate of the Global Variable Frequency Drive Market is 5.0%, with an estimated value of $33.6 billion by 2031.

What is the forecasted size of the Global Variable Frequency Drive Market?

The Global Variable Frequency Drive Market is estimated to be worth $33.6 billion by 2031.

Who are the key companies in the Global Variable Frequency Drive Market?

Key companies in the Global Variable Frequency Drive Market include ABB Ltd, Siemens AG, Sauer, Danfoss Inc., Schneider Electric, General Electric, Hitachi,Ltd, Honeywell Intenational and Techsuppen.

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

List of Tables
Table 1. Global Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 2. Variable Frequency Drive Market, for Ac Drive, by Region, 2021-2031 ($Million)
Table 3. Variable Frequency Drive Market for Ac Drive, by Country, 2021-2031 ($Million)
Table 4. Variable Frequency Drive Market, for Dc Drive, by Region, 2021-2031 ($Million)
Table 5. Variable Frequency Drive Market for Dc Drive, by Country, 2021-2031 ($Million)
Table 6. Variable Frequency Drive Market, for Servo Drive, by Region, 2021-2031 ($Million)
Table 7. Variable Frequency Drive Market for Servo Drive, by Country, 2021-2031 ($Million)
Table 8. Global Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 9. Variable Frequency Drive Market, for Low, by Region, 2021-2031 ($Million)
Table 10. Variable Frequency Drive Market for Low, by Country, 2021-2031 ($Million)
Table 11. Variable Frequency Drive Market, for Medium, by Region, 2021-2031 ($Million)
Table 12. Variable Frequency Drive Market for Medium, by Country, 2021-2031 ($Million)
Table 13. Global Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 14. Variable Frequency Drive Market, for Micro (0-5 Kw), by Region, 2021-2031 ($Million)
Table 15. Variable Frequency Drive Market for Micro (0-5 Kw), by Country, 2021-2031 ($Million)
Table 16. Variable Frequency Drive Market, for Low (6-40 Kw), by Region, 2021-2031 ($Million)
Table 17. Variable Frequency Drive Market for Low (6-40 Kw), by Country, 2021-2031 ($Million)
Table 18. Variable Frequency Drive Market, for Medium (41-200 Kw), by Region, 2021-2031 ($Million)
Table 19. Variable Frequency Drive Market for Medium (41-200 Kw), by Country, 2021-2031 ($Million)
Table 20. Variable Frequency Drive Market, for High (>200 Kw), by Region, 2021-2031 ($Million)
Table 21. Variable Frequency Drive Market for High (>200 Kw), by Country, 2021-2031 ($Million)
Table 22. Global Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 23. Variable Frequency Drive Market, for Pumps, by Region, 2021-2031 ($Million)
Table 24. Variable Frequency Drive Market for Pumps, by Country, 2021-2031 ($Million)
Table 25. Variable Frequency Drive Market, for Conveyors, by Region, 2021-2031 ($Million)
Table 26. Variable Frequency Drive Market for Conveyors, by Country, 2021-2031 ($Million)
Table 27. Variable Frequency Drive Market, for Fans, by Region, 2021-2031 ($Million)
Table 28. Variable Frequency Drive Market for Fans, by Country, 2021-2031 ($Million)
Table 29. Variable Frequency Drive Market, for Compressors, by Region, 2021-2031 ($Million)
Table 30. Variable Frequency Drive Market for Compressors, by Country, 2021-2031 ($Million)
Table 31. Variable Frequency Drive Market, for Others, by Region, 2021-2031 ($Million)
Table 32. Variable Frequency Drive Market for Others, by Country, 2021-2031 ($Million)
Table 33. Global Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 34. Variable Frequency Drive Market, for Oil and Gas, by Region, 2021-2031 ($Million)
Table 35. Variable Frequency Drive Market for Oil and Gas, by Country, 2021-2031 ($Million)
Table 36. Variable Frequency Drive Market, for Industrial, by Region, 2021-2031 ($Million)
Table 37. Variable Frequency Drive Market for Industrial, by Country, 2021-2031 ($Million)
Table 38. Variable Frequency Drive Market, for Power, by Region, 2021-2031 ($Million)
Table 39. Variable Frequency Drive Market for Power, by Country, 2021-2031 ($Million)
Table 40. Variable Frequency Drive Market, for Infrastructure, by Region, 2021-2031 ($Million)
Table 41. Variable Frequency Drive Market for Infrastructure, by Country, 2021-2031 ($Million)
Table 42. Variable Frequency Drive Market, by Region, 2021-2031 ($Million)
Table 43. North America Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 44. North America Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 45. North America Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 46. North America Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 47. North America Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 48. North America Variable Frequency Drive Market, by Country, 2021-2031 ($Million)
Table 49. U.S. Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 50. U.S. Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 51. U.S. Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 52. U.S. Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 53. U.S. Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 54. Canada Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 55. Canada Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 56. Canada Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 57. Canada Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 58. Canada Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 59. Mexico Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 60. Mexico Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 61. Mexico Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 62. Mexico Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 63. Mexico Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 64. Europe Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 65. Europe Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 66. Europe Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 67. Europe Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 68. Europe Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 69. Europe Variable Frequency Drive Market, by Country, 2021-2031 ($Million)
Table 70. Germany Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 71. Germany Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 72. Germany Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 73. Germany Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 74. Germany Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 75. UK Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 76. UK Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 77. UK Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 78. UK Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 79. UK Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 80. France Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 81. France Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 82. France Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 83. France Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 84. France Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 85. Italy Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 86. Italy Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 87. Italy Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 88. Italy Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 89. Italy Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 90. Spain Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 91. Spain Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 92. Spain Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 93. Spain Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 94. Spain Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 95. Rest of Europe Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 96. Rest of Europe Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 97. Rest of Europe Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 98. Rest of Europe Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 99. Rest of Europe Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 100. Asia-Pacific Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 101. Asia-Pacific Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 102. Asia-Pacific Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 103. Asia-Pacific Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 104. Asia-Pacific Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 105. Asia-Pacific Variable Frequency Drive Market, by Country, 2021-2031 ($Million)
Table 106. China Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 107. China Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 108. China Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 109. China Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 110. China Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 111. Japan Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 112. Japan Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 113. Japan Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 114. Japan Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 115. Japan Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 116. India Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 117. India Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 118. India Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 119. India Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 120. India Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 121. South Korea Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 122. South Korea Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 123. South Korea Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 124. South Korea Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 125. South Korea Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 126. Rest of Asia-Pacific Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 127. Rest of Asia-Pacific Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 128. Rest of Asia-Pacific Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 129. Rest of Asia-Pacific Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 130. Rest of Asia-Pacific Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 131. LAMEA Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 132. LAMEA Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 133. LAMEA Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 134. LAMEA Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 135. LAMEA Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 136. LAMEA Variable Frequency Drive Market, by Country, 2021-2031 ($Million)
Table 137. Brazil Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 138. Brazil Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 139. Brazil Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 140. Brazil Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 141. Brazil Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 142. Saudi Arabia Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 143. Saudi Arabia Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 144. Saudi Arabia Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 145. Saudi Arabia Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 146. Saudi Arabia Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 147. South Africa Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 148. South Africa Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 149. South Africa Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 150. South Africa Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 151. South Africa Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 152. Rest of LAMEA Variable Frequency Drive Market, by Type, 2021-2031 ($Million)
Table 153. Rest of LAMEA Variable Frequency Drive Market, by Voltage Type, 2021-2031 ($Million)
Table 154. Rest of LAMEA Variable Frequency Drive Market, by Power Rating, 2021-2031 ($Million)
Table 155. Rest of LAMEA Variable Frequency Drive Market, by Application, 2021-2031 ($Million)
Table 156. Rest of LAMEA Variable Frequency Drive Market, by End Use, 2021-2031 ($Million)
Table 157. Abb Ltd: Company Snapshot
Table 158. Abb Ltd: Operating Segments
Table 159. Abb Ltd: Product Portfolio
Table 160. Abb Ltd: Net Sales,
Table 161. Abb Ltd: Key Strategies
Table 162. Siemens Ag: Company Snapshot
Table 163. Siemens Ag: Operating Segments
Table 164. Siemens Ag: Product Portfolio
Table 165. Siemens Ag: Net Sales,
Table 166. Siemens Ag: Key Strategies
Table 167. Sauer-Danfoss Inc.: Company Snapshot
Table 168. Sauer-Danfoss Inc.: Operating Segments
Table 169. Sauer-Danfoss Inc.: Product Portfolio
Table 170. Sauer-Danfoss Inc.: Net Sales,
Table 171. Sauer-Danfoss Inc.: Key Strategies
Table 172. Schneider Electric: Company Snapshot
Table 173. Schneider Electric: Operating Segments
Table 174. Schneider Electric: Product Portfolio
Table 175. Schneider Electric: Net Sales,
Table 176. Schneider Electric: Key Strategies
Table 177. General Electric: Company Snapshot
Table 178. General Electric: Operating Segments
Table 179. General Electric: Product Portfolio
Table 180. General Electric: Net Sales,
Table 181. General Electric: Key Strategies
Table 182. Hitachi,Ltd: Company Snapshot
Table 183. Hitachi,Ltd: Operating Segments
Table 184. Hitachi,Ltd: Product Portfolio
Table 185. Hitachi,Ltd: Net Sales,
Table 186. Hitachi,Ltd: Key Strategies
Table 187. Honeywell Intenational: Company Snapshot
Table 188. Honeywell Intenational: Operating Segments
Table 189. Honeywell Intenational: Product Portfolio
Table 190. Honeywell Intenational: Net Sales,
Table 191. Honeywell Intenational: Key Strategies
Table 192. Nord Drive Systems: Company Snapshot
Table 193. Nord Drive Systems: Operating Segments
Table 194. Nord Drive Systems: Product Portfolio
Table 195. Nord Drive Systems: Net Sales,
Table 196. Nord Drive Systems: Key Strategies
Table 197. Techsuppen: Company Snapshot
Table 198. Techsuppen: Operating Segments
Table 199. Techsuppen: Product Portfolio
Table 200. Techsuppen: Net Sales,
Table 201. Techsuppen: Key Strategies
Table 202. Cg Power: Company Snapshot
Table 203. Cg Power: Operating Segments
Table 204. Cg Power: Product Portfolio
Table 205. Cg Power: Net Sales,
Table 206. Cg Power: Key Strategies
Table 207. Saksun Industries: Company Snapshot
Table 208. Saksun Industries: Operating Segments
Table 209. Saksun Industries: Product Portfolio
Table 210. Saksun Industries: Net Sales,
Table 211. Saksun Industries: Key Strategies
Table 212. A.S. Automation: Company Snapshot
Table 213. A.S. Automation: Operating Segments
Table 214. A.S. Automation: Product Portfolio
Table 215. A.S. Automation: Net Sales,
Table 216. A.S. Automation: Key Strategies
Table 217. Parker Hannifin Corporation: Company Snapshot
Table 218. Parker Hannifin Corporation: Operating Segments
Table 219. Parker Hannifin Corporation: Product Portfolio
Table 220. Parker Hannifin Corporation: Net Sales,
Table 221. Parker Hannifin Corporation: Key Strategies
Table 222. Sew-Eurodrive: Company Snapshot
Table 223. Sew-Eurodrive: Operating Segments
Table 224. Sew-Eurodrive: Product Portfolio
Table 225. Sew-Eurodrive: Net Sales,
Table 226. Sew-Eurodrive: Key Strategies
Table 227. Rockwell Automation: Company Snapshot
Table 228. Rockwell Automation: Operating Segments
Table 229. Rockwell Automation: Product Portfolio
Table 230. Rockwell Automation: Net Sales,
Table 231. Rockwell Automation: Key Strategies
Table 232. Fuji Electric: Company Snapshot
Table 233. Fuji Electric: Operating Segments
Table 234. Fuji Electric: Product Portfolio
Table 235. Fuji Electric: Net Sales,
Table 236. Fuji Electric: Key Strategies
Table 237. Delta Electronics: Company Snapshot
Table 238. Delta Electronics: Operating Segments
Table 239. Delta Electronics: Product Portfolio
Table 240. Delta Electronics: Net Sales,
Table 241. Delta Electronics: Key Strategies

List of Figures
Figure 1. Variable Frequency Drive Market Segmentation
Figure 2. Variable Frequency Drive Market, 2021-2031
Figure 3. Variable Frequency Drive Market, 2021-2031
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Variable Frequency Drive Mark.:Drivers, Restraints and Opportunities
Figure 12. Value Chain Analysis
Figure 13. Key Regulation Analysis
Figure 14. Variable Frequency Drive Market, By Type, 2021(%)
Figure 15. Comparative Share Analysis of Ac Drive Variable Frequency Drive Market, 2021-2031(%)
Figure 16. Comparative Share Analysis of Dc Drive Variable Frequency Drive Market, 2021-2031(%)
Figure 17. Comparative Share Analysis of Servo Drive Variable Frequency Drive Market, 2021-2031(%)
Figure 18. Variable Frequency Drive Market, By Voltage Type, 2021(%)
Figure 19. Comparative Share Analysis of Low Variable Frequency Drive Market, 2021-2031(%)
Figure 20. Comparative Share Analysis of Medium Variable Frequency Drive Market, 2021-2031(%)
Figure 21. Variable Frequency Drive Market, By Power Rating, 2021(%)
Figure 22. Comparative Share Analysis of Micro (0-5 Kw) Variable Frequency Drive Market, 2021-2031(%)
Figure 23. Comparative Share Analysis of Low (6-40 Kw) Variable Frequency Drive Market, 2021-2031(%)
Figure 24. Comparative Share Analysis of Medium (41-200 Kw) Variable Frequency Drive Market, 2021-2031(%)
Figure 25. Comparative Share Analysis of High (>200 Kw) Variable Frequency Drive Market, 2021-2031(%)
Figure 26. Variable Frequency Drive Market, By Application, 2021(%)
Figure 27. Comparative Share Analysis of Pumps Variable Frequency Drive Market, 2021-2031(%)
Figure 28. Comparative Share Analysis of Conveyors Variable Frequency Drive Market, 2021-2031(%)
Figure 29. Comparative Share Analysis of Fans Variable Frequency Drive Market, 2021-2031(%)
Figure 30. Comparative Share Analysis of Compressors Variable Frequency Drive Market, 2021-2031(%)
Figure 31. Comparative Share Analysis of Others Variable Frequency Drive Market, 2021-2031(%)
Figure 32. Variable Frequency Drive Market, By End Use, 2021(%)
Figure 33. Comparative Share Analysis of Oil and Gas Variable Frequency Drive Market, 2021-2031(%)
Figure 34. Comparative Share Analysis of Industrial Variable Frequency Drive Market, 2021-2031(%)
Figure 35. Comparative Share Analysis of Power Variable Frequency Drive Market, 2021-2031(%)
Figure 36. Comparative Share Analysis of Infrastructure Variable Frequency Drive Market, 2021-2031(%)
Figure 37. Variable Frequency Drive Market by Region, 2021
Figure 38. U.S. Variable Frequency Drive Market, 2021-2031($Million)
Figure 39. Canada Variable Frequency Drive Market, 2021-2031($Million)
Figure 40. Mexico Variable Frequency Drive Market, 2021-2031($Million)
Figure 41. Germany Variable Frequency Drive Market, 2021-2031($Million)
Figure 42. Uk Variable Frequency Drive Market, 2021-2031($Million)
Figure 43. France Variable Frequency Drive Market, 2021-2031($Million)
Figure 44. Italy Variable Frequency Drive Market, 2021-2031($Million)
Figure 45. Spain Variable Frequency Drive Market, 2021-2031($Million)
Figure 46. Rest of Europe Variable Frequency Drive Market, 2021-2031($Million)
Figure 47. China Variable Frequency Drive Market, 2021-2031($Million)
Figure 48. Japan Variable Frequency Drive Market, 2021-2031($Million)
Figure 49. India Variable Frequency Drive Market, 2021-2031($Million)
Figure 50. South Korea Variable Frequency Drive Market, 2021-2031($Million)
Figure 51. Rest of Asia-Pacific Variable Frequency Drive Market, 2021-2031($Million)
Figure 52. Brazil Variable Frequency Drive Market, 2021-2031($Million)
Figure 53. Saudi Arabia Variable Frequency Drive Market, 2021-2031($Million)
Figure 54. South Africa Variable Frequency Drive Market, 2021-2031($Million)
Figure 55. Rest of LAMEA Variable Frequency Drive Market, 2021-2031($Million)
Figure 56. Top Winning Strategies, by Year
Figure 57. Top Winning Strategies, by Development
Figure 58. Top Winning Strategies, by Company
Figure 59. Product Mapping of Top 10 Players
Figure 60. Competitive Dashboard
Figure 61. Competitive Heatmap of Top 10 Key Players
Figure 62. Abb Lt.: Net Sales, ($Million)
Figure 63. Siemens A.: Net Sales, ($Million)
Figure 64. Sauer-Danfoss Inc.: Net Sales, ($Million)
Figure 65. Schneider Electri.: Net Sales, ($Million)
Figure 66. General Electri.: Net Sales, ($Million)
Figure 67. Hitachi, Lt.: Net Sales, ($Million)
Figure 68. Honeywell Intenationa.: Net Sales, ($Million)
Figure 69. Nord Drive System.: Net Sales, ($Million)
Figure 70. Techsuppe.: Net Sales, ($Million)
Figure 71. Cg Powe.: Net Sales, ($Million)
Figure 72. Saksun Industrie.: Net Sales, ($Million)
Figure 73. A.S. Automatio.: Net Sales, ($Million)
Figure 74. Parker Hannifin Corporatio.: Net Sales, ($Million)
Figure 75. Sew-Eurodriv.: Net Sales, ($Million)
Figure 76. Rockwell Automatio.: Net Sales, ($Million)
Figure 77. Fuji Electri.: Net Sales, ($Million)
Figure 78. Delta Electronic.: Net Sales, ($Million)

Executive Summary

According to the report, “Variable Frequency Drive Market," the variable frequency drive market size was valued at $20.6 billion in 2021, and variable frequency drive industry is estimated to reach $33.6 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.

Variable frequency drive (VFD) is electrical equipment which is used with electric motors, which change the applied voltage supplied to the motor. It helps to control the operating speed to reduce energy consumption. Variable frequency drive market players have undergone digitization to monitor the functioning of speed, and thus improve its overall efficiency.

Increase in penetration of connected devices in various sectors such as commercial, industrial, and residential sectors, coupled with rise in demand for variable frequency drive (VFD) due to associated benefits such as adjustable speed, dynamic torque control, and energy-saving from sectors such as power generation, automotive, and oil & gas are crucial factors expected to drive the market growth. In addition, increase in investment in infrastructure development results in high demand for HVAC systems which calls for solutions to improve building energy efficiency. This factor is expected to exhibit positive impact on the variable frequency drive variable frequency drive market growth.

Oil & gas is one of the leading end-user industries of variable frequency drives. The industry has been witnessing stagnant growth for the past few years owing to the decline in exploration and production activities. The demand for variable frequency drives in this industry is linked to the exploration, development, and production activities, as well as the capital spending by oil and natural gas companies.

The growth in energy demand has created the need for stable and reliable transmission and distribution (T&D) networks. According to the U.S. Department of Energy (DOE), uninterrupted power can only be ensured through a system capable of handling sudden power fluctuations. The major reasons behind increase in number of blackouts are aging infrastructure, limited investments, and a lack of clear policies to modernize the grid. The electricity demand has increased by 10% over the past decade, although there are more energy-efficient products and buildings than in previous years. The recent regulations to reduce/limit the number of power blackouts and upgrade the aging power networks across the globe, particularly in North America, Europe, and parts of Asia Pacific, enhance the entire value chain across the power sector equipment. Modernization of power infrastructure is thus expected to fuel the demand for variable frequency drives and create lucrative variable frequency drive market opportunities for the market players.

The variable frequency drive market forecast is segmented on the basis of type, voltage type, power rating, application, end use and region. On the basis of type, it is divided 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 categorized into micro, low, medium, and high. On the basis of application, the market is segregated into pumps, conveyors, fans, compressors, and others. On the basis of end use, the 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. Presently, Asia-Pacific accounts for the largest variable frequency drive market share, followed by North America and Europe.

The major companies profiled in this report include ABB Ltd, 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. Rapid development of industrialization and urbanization have led to increase in demand for electronic goods which further lead to rise in demand for power. Variable frequency drives are utilized to improve the efficiency of various electronic consumer goods. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the detection technologies have made way for key developments in the global variable frequency drive market trends.

Key Findings of the Study

  • As per variable frequency drive market analysis, by type, the AC drive segment accounted for the largest share in 2021.
  • By voltage type, the low voltage type segment held the highest market share in 2021.
  • By power rating, the low segment is expected to dominate the market in 2031.
  • By application, the pumps segment held the largest market share in 2021, and is projected to grow at a CAGR 4.7% from 2022 to 2031.
  • By end use, the oil & gas segment held the largest market share in 2021.
  • By region, Asia-Pacific is projected to exhibit CAGR of 5.5% from 2022 to 2031.

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.

Companies Mentioned

  • 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

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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