North America Variable Frequency Drive Market Assessment and Key Insights Analyzed Till 2027

The North America variable frequency drive market is projected to reach US$ 7.79 Bn in revenues by 2027, according to a new research by Future Market Insights. In terms of volume, 6.25 million units of variable frequency drivers are expected to be sold in North America in 2017. The U.S. will continue to dominate sales, accounting for nearly 78% revenue share of the market.

Variable frequency drive sales value and volume consumption in the U.S. is projected to expand at the highest CAGR over the forecast period. In 2016, the U.S. variable frequency drive market was valued at more than US$ 3,300 Mn and has been estimated to increase to a little more than US$ 3,500 Mn by 2017 end, reflecting a Y-o-Y growth rate of 5.9%.

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The U.S. country market is anticipated to create incremental dollar opportunity of close to US$ 3,000 Mn between 2016 and 2027 in the North America variable frequency drive market. In terms of market value, the Canada variable frequency drive market was valued at US$ 911.8 Mn in 2016 and has been estimated to increase to more than US$ 950 Mn by 2017 end, reflecting a Y-o-Y growth rate of 5.2%.

Revenue contribution from the variable frequency drive market in Canada is expected to increase at a CAGR of 4.8% over the forecast period. The Canada market is anticipated to create incremental dollar opportunity of more than US$ 600 Mn between 2016 and 2027 in the North America variable frequency drive market.

According to Future Market Insights, the key factors fuelling the growth of the market include,

  • Increasing emphasis on energy efficiency: Process engineers are adopting energy-saving devices to reduce operational expenses. For example, in 2015, Len Busch Roses, one of the largest nurseries for cut-stem flowers, deployed variable frequency drive to regulate airflow in snapdragon greenhouse with better precision.
  • Introduction of general purpose variable frequency drives that are compatible with existing motors is reducing impediments to widespread adoption.
  • Variable frequency drives are being employed in a wide range of end-use applications. Installation of variable frequency drives, along with a flow metre, results in energy savings.

Although Future Market Insights maintains a positive outlook on the North America variable frequency drives market, few challenges can restrain growth. These include technical anomalies associated with variable frequency drives and high initial costs of medium voltage variable frequency drives.

Escalating energy prices has created the need for energy-efficient motor control systems. With the aim of reducing energy consumption, process engineers and other executives managing the operation department are increasingly inclined towards deployment of variable frequency drives. It acts as a substitute to throttling devices such as general valves, industrial valves and dampers and fixed speed controllers.

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This factor is expected to boost the growth of the variable frequency drive market in the U.S and Canada. The emergence of new application areas coupled with advantages such as the low operational cost of systems with a deployment of variable frequency drives are factors expected to create favourable opportunities for variable frequency drives vendors in Canada and the U.S.

Motors, when connected to variable frequency drives, receive power that comprises changeable carrier frequency, fundamental frequency, and very rapid voltage buildup. These factors can result in a negative impact, especially when existing motors are retrofitted with such drives. Currently, leading variable frequency drive manufacturers are introducing general purpose variable frequency drives with the added advantage of deployment compatibility with existing electric motors. This, in turn, is fuelling the growth of the variable frequency drive market in North America.

By Segment:

By Country

  • U.S.
  • Canada
  • By Drive Type
  • AC Drive
  • DC Drive
  • Servo Drive

By Voltage Range

  • Low Voltage Range
  • Medium Voltage Range

By Application Type

  • Standard
  • Regenerative

By End-Use Application

  • Pump
  • Fan
  • Compressor
  • Conveyor
  • HVAC
  • Others

By End-Use Industry

  • Oil & Gas
  • Food Processing
  • Automotive
  • Mining & Metals
  • Pulp and Papers
  • Other

Major Key Players:

ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Danfoss (Denmark), Rockwell Automation (US), and Others

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Variable frequency drives, when installed along with a flow-meter also known as intelligent flow meter, ensure appropriate water volume and eliminate energy wastage due to worst-case design philosophy. All these positive aspects are driving the U.S and Canada variable frequency drive market.

With a decreasing price of variable frequency drives, the relevant application areas are broadening. End users in North America are aware of the numerous advantages offered by variable frequency drives and are inclined towards deployment of such drives for indoor applications as well. For instance, adoption of variable frequency drives to reduce the energy consumption of swimming pool filtration and pumping systems is gaining traction in matured markets.

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