U.S. Variable Frequency Drives Market revenue to cross USD 2.5 Bn by 2028: Global Market Insights Inc.

SELBYVILLE, Del., Feb. 22, 2022 /PRNewswire/ -- The U.S. variable frequency drives market size is anticipated to record a valuation of USD 2.5 billion by 2028, according to the most recent study by Global Market Insights Inc. The shifting focus toward energy-efficient technologies in line with favorable regulatory frameworks for the adoption of renewables has boosted the market growth. In addition, the growing number of industrial facilities and utility infrastructure along with urban localities has created a platform for the integration of electrical components, further augmenting the market expansion.

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The COVID-19 pandemic has affected industry operations drastically in an unprecedented manner. This pandemic has delayed operational activities attributed to the ceased manufacturing & distribution sectors and labor shortages, thereby affecting the business dynamics. However, several vaccination drives and social distancing measures implemented by respective governments have resulted in normalcy, thus backing up industry operations. Furthermore, the positive efforts of governing authorities to deliver several other measures to effectively deal with the pandemic will encourage the industry growth.

Stringent regulatory framework to deploy energy-efficient systems, availability of stern installation standards, and favorable monetary support policies are among the key parameters bolstering the product demand. Besides, continuous investments to establish new infrastructure across end-user verticals coupled with growing concerns to enhance cost savings and reduce the energy intake to further foster the adoption of VFD units.

The medium-powered segment in the U.S. variable frequency drives market is projected to grow owing to its utilization across several applications to control the speed and torque of AC motors. The utilization of these units has accelerated due to the reduction in their size & cost across industrial powertrains including petrochemical, mining, and manufacturing. Moreover, operational attributes, such as control accuracy, energy savings & operational flexibility, will escalate product deployment.

The U.S. variable frequency drives market for servo drives segment is anticipated to witness substantial pace led by its ability to deliver better process and speed control. The applicability of these units has stimulated across applications where the mechanisms need adaptation to several conditions and adjust quickly with less effort. Additionally, the utilization of servo systems showcased an upsurge across CNC machining, factory automation, and robotics, which will further propel the product installation.

Significant expansion activities across several processing industries including mining & metals, oil & gas, marine, and food & beverage facilities will positively influence the conveyor application dynamics. Moreover, their lightweight, high versatility & flexibility along with cost-effectiveness and compact size when compared to the prevailing frequency control systems are a few key factors fueling drive deployment.

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Eminent companies operating across the U.S. variable frequency drives market include Eaton, GE, Yaskawa America, Inc., Siemens, Johnson Controls, Honeywell International, Inc., Rockwell Automation, ABB, Nidec Industrial Solutions, Mitsubishi Electric Corporation, Fuji Electric, WEG, Triol Corporation, Danfoss, Schneider Electric, Hitachi Ltd., and Emerson Electric Co.

Table of Contents (ToC) of the report:

Chapter 3 U.S. VFD Market Insights

3.1  Industry ecosystem analysis

     3.1.1  Vendor Matrix

3.2  Innovation & technology landscape

3.3  Regulatory landscape

     3.3.1  National Electrical Manufacturer Association (NEMA)

     3.3.2  Variable Frequency Drives Section 16160

3.4  COVID- 19 impact on the industry outlook

     3.4.1  Overall view

3.5  Industry impact forces

     3.5.1  Growth drivers

     3.5.2  Industry pitfalls & challenges

3.6  Growth potential analysis

3.7  Porter's Analysis

3.8  Competitive landscape, 2021

3.9  PESTEL Analysis

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https://www.gminsights.com/toc/detail/us-variable-frequency-drive-market 

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SOURCE Global Market Insights Inc.