Europe Variable Frequency Drive Markets, 2019-2024 - Opportunities in Aging Power Infrastructure & Industrial Internet of Things (IIoT)
DUBLIN, April 17, 2019 /PRNewswire/ -- The "Europe VFDs Market by Application (Pump, Fan, Compressor, Conveyor, Extruder), Power Rating (0-0.5, 0.5-20, 20-50, 50-200, >200kW), Voltage (Low and Medium) And Countries (Germany, Russia, UK, France, Italy, Spain) - Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Europe variable frequency drives market is projected to grow from an estimated USD 5.2 billion in 2019 to USD 6.4 billion by 2024, at a CAGR of 4.13% during the forecast period.
The growth of this market is driven by the increasing investments in the energy and construction industries. The government in this region is focusing on reducing greenhouse gas emissions. Such initiatives are the major drivers for this market.
The compressor segment, by application, is expected to be the largest Europe variable frequency drives market (units) from 2019 to 2024
The compressor segment is estimated to be the largest Europe variable frequency drives market, by application. It is expected to grow from 1,579,412 units in 2019 to 1,983,492 units by 2024, at a CAGR of 4.66% during the forecast period. The oil & gas, food & beverage, and building automation industries are driving the demand for compressors.
The 0.5-20 kW segment, by power rating, is expected to be the largest Europe variable frequency drives market from 2019 to 2024
The 0.5-20 kW is the largest segment, which is expected to be USD 755.3 million by 2019, at a CAGR of 4.90% from 2019 to 2024. The high energy savings at a low capital cost increase the demand for the 0.5-20 kW segment in Europe.
Germany: The largest Europe variable frequency drives market
The Europe variable frequency drives market in Germany is expected to grow at a CAGR of 4.82% during the forecast period. Increasing investments in the energy and construction industries are likely to drive the Europe variable frequency drives market in Germany. The other major countries contributing to this market are the UK, Russia, Spain, Italy, and France. Increasing demand for renewable power generation in chemical and food & beverage industries is expected to boost the Europe variable frequency drives market in this region.
The Europe variable frequency drives market is dominated by a few major players that have a wide regional presence. The leading players in the Europe variable frequency drives market are ABB (Switzerland), Eaton (Ireland), Schneider (France), Siemens (Germany), Danfoss (Denmark), Fuji (Japan), Rockwell (US), Yaskawa (Japan), CG Power and Industrial Solutions (India), Hitachi (Japan), WEG SA (Brazil), and TMEIC (Japan).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Use of Variable Frequency Drives Across Major Industries
5.2.1.2 Rising Need for Energy Efficiency
5.2.1.3 Supportive Regulatory Environment
5.2.2 Restraints
5.2.2.1 Stagnant Growth of the Oil & Gas Industry
5.2.3 Opportunities
5.2.3.1 Aging Power Infrastructure
5.2.3.2 Industrial Internet of Things (IIoT)
5.2.4 Challenges
5.2.4.1 Gray Market Providing Low-Quality and Cheap Products
6 Europe Variable Frequency Drives Market, By Voltage
6.1 Introduction
6.2 Low Voltage (Up to 690 V)
6.2.1 Increasing Usage of Variable Frequency Drives in Mining, Pulp & Paper, Water & Wastewater, and Oil & Gas Industries is Expected to Boost the Europe Variable Frequency Drives Market in the Low Voltage Segment
6.3 Medium Voltage (Above 690 V)
6.3.1 Low Maintenance and Operating Cost of Medium Voltage Variable Frequency Drives in Cement and Steel Industries are Expected to Drive the Europe Variable Frequency Drives Market in the Medium Voltage Segment
7 Europe Variable Frequency Drives Market, By Power Rating
7.1 Introduction
7.2 0-0.5 kW
7.2.1 Rising Urbanization and Industrialization are the Vital Factors That Drive the Growth of This Segment
7.3 0.5-20 kW
7.3.1 High Energy Savings at Low Capital Cost Increase the Demand for This Segment
7.4 20-50 kW
7.4.1 Healthcare and Home Appliance Industries are Driving the Demand for This Segment
7.5 50-200 kW
7.5.1 High-Power Drives are Likely to Boost the Demand for This Segment
7.6 Above 200 kW
7.6.1 High-Power Applications are Expected to Drive This Segment
8 Europe Variable Frequency Drives Market, By Application
8.1 Introduction
8.2 Pump
8.2.1 Increasing Pump Export and Its Use in Various Industries are Likely to Drive the Pump Segment
8.3 Fan
8.3.1 Growing Demand for Fans in Hvac and Low Maintenance Requirements are Expected to Drive the Fan Segment
8.4 Compressor
8.4.1 Oil & Gas, Food & Beverage, and Building Automation are the Industries That are Driving the Demand for Compressors
8.5 Conveyor
8.5.1 Mining, Pharmaceuticals, Manufacturing, and Transportation are the Industries That are Driving the Demand for Conveyors
8.6 Extruder
8.6.1 Plastic and Food Processing are the Industries That are Driving the Demand for Extruders
8.7 Others
8.7.1 Features Such as Low Maintenance and Reduction in Mechanical Stress are Expected to Drive the Crushers & Mills and Mixers Market
9 Europe Variable Frequency Drives Market, By Country
9.1 Introduction
9.2 Germany
9.2.1 Increasing Investments in Energy & Construction Industries are Likely to Drive the Europe Variable Frequency Drives Market in Germany
9.3 UK
9.3.1 Increasing Demand for Renewable Power Generation in Chemical and Food & Beverage Industries is Expected to Boost the Europe Variable Frequency Drives Market in the UK
9.4 Russia
9.4.1 Growing Industrial Sector & Increasing Investments in Energy Projects are the Drivers for the Europe Variable Frequency Drives Market in Russia
9.5 France
9.5.1 Target to Reduce Greenhouse Gas Emissions is Likely to Boost the Demand for Variable Frequency Drives in France
9.6 Italy
9.6.1 Growing Industrial Sector & Investments in the Oil & Gas Industry are Expected to Increase the Demand for Variable Frequency Drives in Italy
9.7 Spain
9.7.1 Rising Export Demand in Pharmaceutical & Automobile Industries is Expected to Boost the Europe Variable Frequency Drives Market in Spain
9.8 Rest of Europe
9.8.1 Increase in Focus on Renewable Energy Sources for Power Generation is Expected to Drive the VFD Market
10 Competitive Landscape
10.1 Introduction
10.2 Market Share Analysis
10.3 Competitive Scenario
10.4 Competitive Leadership Mapping
10.4.1 Visionary Leaders
11 Company Profiling
11.1 ABB
11.2 Eaton
11.3 Schneider
11.4 Siemens
11.5 Danfoss
11.6 Fuji
11.7 Rockwell
11.8 Yaskawa
11.9 CG Power and Industrial Solutions
11.10 Hitachi
11.11 WEG
11.12 TMEIC
For more information about this report visit https://www.researchandmarkets.com/r/67xe5y
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