In recent years, the variable frequency drives market (VFD) has received significant stimulus, growing on the back of heightened opportunities regarding infrastructure development across emerging regions, spurring demand for heating and ventilation systems. VFD development is presently transitioning towards offering industry specific solutions with the objective of minimizing costs and reducing operational downtime, prompting a slew of innovations on part of manufacturers.
Frequent capital investments are primary factors in uplifting economic growth as they aid in urbanization. According to Oxford Economics’ Global Infrastructure Outlook, infrastructure investment is likely to reach US$ 94 trillion by 2040, involving per capita annual expenditure worth US$ 3.7 trillion. Out of the total global investment requirements, Asia accounts for 54% of all needs. Hence, manufacturers are expected to increase inroads across the region.
Such burgeoning capital infrastructure projects have heightened energy costs, as power and electricity consumption witness a sharp increase. This has led to the development of equipment designed to reduce such heavy energy consumption, paving the way for enhanced VFD sales across the landscape. Extensive applications are witnessed across the HVAC sector.
Request for a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-140
In addition, variable frequency drives are also finding applications across oil & gas and mining and irrigation sectors as well. Production, distribution and applications in the former rely heavily on motor-driven pumps and pumping systems, whose speeds VFDs help regulate. Likewise, these also assist in providing high speed and control across excavators and conveyors in the latter.
The global automotive industry has made prolific advances in the recent past. Emerging as a multibillion-dollar industry, the autonomous market is characterized by the emergence of a plethora of start-up investments. Consequently, the adoption of high-end HVAC systems and pumps has registered an impressive uptick. According to FMI’s projections, the aforementioned segments collectively accounted for nearly US$ 10 Bn as of 2019.
Prolific growth opportunities exist in the Chinese market, owing to an ever mushrooming automotive industry. Future Market Insights estimates the economic giant to produce 4.5 million variable frequency drives by 2021-end, as production cycles revert to normalcy in the aftermath of the coronavirus crisis. Hence, manufacturers are introducing a slew of technological innovations to tap this ever-expanding opportunity, thus generating powerful revenue ecosystems across the forecast period.
Key Takeaways of Variable Frequency Drives Market Study:
AC drives adoption surging in popularity by drive type; set to acquire 260 BPS by 2031-end U.S. and Germany to emerge as highly lucrative markets, owing to growing EV sales Growing concerns over excessive power consumption compelling automotive manufacturers to invest in low-voltage VFDs Regenerative applications to find growing applications, reaching nearly US$ 15 Bn by 2021-end Pumps and HVAC systems to collectively expand at a value CAGR worth 13% from 2021-2031
“Rapidly expanding infrastructure for capital projects are attracting frequent capital investments, attributed to the increasing scale of urbanization. Hence, automotive sales are rising, leading to widening revenue pools for VFD manufacturers,” says the FMI analyst.
Customization Before Buying, Visit @ https://www.futuremarketinsights.com/customization-available/rep-gb-140
Competitive Landscape
The variable frequency drives market is a highly competitive market, with a sizeable presence of both global as well as domestic players. However, key players account for nearly half of the market share. It is characterized by large supplier base and strong B2B networks.
The market has robust partnerships throughout the value chain. Suppliers of variable frequency drives adopt acquisition and regional expansion strategies to establish a foothold. Brand consciousness and aggressive marketing make it challenging for new entrants in the variable frequency drives market.
Variable frequency drives Market : Segmentation
Drive Type
- AC Drive
- DC Drive
Voltage Range
- Low Voltage
- High Voltage
Application Type
- Standard
- Regenerative
End-use Application
- Pumps
- Fan
- Compressor
- Conveyor
- HVAC
- Others
End-use Industry
- Oil & Gas
- Food processing
- Automotive
- Mining & Metals
- Pulp & Paper
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
Request a Complete TOC @ https://www.futuremarketinsights.com/toc/rep-gb-140
Read More :
- https://robbinpandy.mn.co/posts/27108648?utm_source=manual
- https://fmiblog.substack.com/p/digital-pump-market-2022-development?sd=pf
- https://kshahconnect.mn.co/posts/digital-pump-market-2022-development-status-competition-analysis-type-and-application-2026-fmi?utm_source=manual
- https://humblethepoet.mn.co/posts/27108638?utm_source=manual
- https://energy-community-for-the-state.mn.co/posts/27108689?utm_source=manual
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights,
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Latest Report: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs