PUNE, India, Nov. 5, 2019 /PRNewswire/ -- The global Variable Frequency Drive (VFD) Market size is projected to gain impetus from a rise in the awareness among consumers to install energy saver equipment. According to a published report by Fortune Business Insights, titled, "Variable Frequency Drive (VFD) Market Size, Share & Industry Analysis, By Type (AC Drive, DC Drive, Servo Drive), By Power Range (Micro, Low, Medium, High), By Application (Pumps, Conveyors, HVAC, Electric Fan, Extruders, Others), By End-User (Food & Beverage, Oil & Gas, Power Generation, Infrastructure, Agriculture, Mining, Others), and Regional Forecast, 2019-2026," the market is projected to reach above USD 25.19 Billion by 2026, exhibiting a CAGR of 5.46% during the forecast period. However, the market was valued at USD 16.54 Billion in 2018.
The report provides detailed analysis of the major factors influencing the market growth, such as opportunities, drivers, challenges, restraints, etc. It strategically presents the VFD market trends, contributions, and future expansions. It involves the usage of journals, directories, and newsletters on power generation technologies.
Browse Complete Report Details with Table of Content and Figures: https://www.fortunebusinessinsights.com/industry-reports/variable-frequency-drive-market-100876
Oil & Gas Segment to Exhibit Rapid Growth Owing to Rising Discovery of Hydrocarbon Reserves
In terms of end-user, the VFD market is categorized into oil & gas, agriculture, food & beverage, mining, infrastructure, and others. Out of these, the oil and gas segment is projected to showcase immense growth in the coming years owing to increasing number of new hydrocarbon reserves as well as rising productivity. Governments of several countries are taking initiatives to construct new buildings with low energy consumption rating. It is likely to contribute to the growth of this segment.
Rising Investment by Key Players in Oil and Gas Sector to Favor Growth in North America
The VFD market is geographically divided into Latin America, Asia Pacific, the Middle East and Africa, Europe, and North America. Amongst these regions, Asia Pacific is expected to acquire a notable VFD market share and grow at a rapid rate during the forecast period. It would occur due to the ongoing development of industrial infrastructure, rich agricultural heritage, and a rise in the oil and gas activities. Countries namely, Japan, China, and India would contribute to VFD market growth in this region.
North America, on the other hand, is anticipated to exhibit significant growth during the forecast period. Increasing energy and power activities, combined with a rise in the investment by key players in oil and gas sector would support growth. Upcoming expansion projects for advanced heating, ventilation, and air conditioning (HVAC) systems as well as a perspective to develop an efficient and modern infrastructure will fuel demand for VFD in this region. The U.S. Geological Survey (USGS) declared that it has successfully discovered new hydrocarbon reserves in Permian basin, Wolfcamp Shale, and Bone Spring Formation. The reservoir is estimated to hold around 20 billion barrels of natural gas liquids, over 46 billion barrels of oil, and 281 trillion cubic feet of natural gas.
Siemens Unveils Air-cooled VFD Named Sinamics Perfect Harmony GH150
Siemens, a multinational conglomerate company, based in Germany, announced the launch of its Sinamics Perfect Harmony GH150 air-cooled drive in June 2019. The product would aid the company in expanding its high-power drive portfolio. At 13.8 kV output voltage and 45,000 HP, the product is considered to be the largest air-cooled VFD in the world. The VFD is equipped with the Sinamics control platform that is best known for its enhanced integration and versatility features. The product is capable of using air-to-water or air-to-air heat exchanger configurations. It also provides IP54 protection.
List of Key Companies Profiled in the Variable Frequency Drive (VFD) Market Research Report are
- Hitachi Hi-Rel Power Electronics
- Rockwell Automation
- Johnson Controls
- Anaheim Automation Inc.
- ABB Electrification
- Nidec Motor Corporation
- Danfoss Drives
- Honeywell International Inc.
- Fuji Electric Corp. of America
- Schneider Electric
- Yaskawa America, Inc. - Drives & Motion Division
- Toshiba International Corporation
- Mitsubishi Electric Automation, Inc.
Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Global Variable Frequency Drive (VFD) Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type (USD Billion)
- AC Drive
- DC Drive
- Servo Drive
- Market Analysis, Insights and Forecast – By Power Range (USD Billion)
- Market Analysis, Insights and Forecast – By Application (USD Billion)
- Electric Fan
- Market Analysis, Insights and Forecast – By End-User (USD Billion)
- Food & Beverage
- Oil & Gas
- Power Generation
- Market Analysis, Insights and Forecast – By Region (USD Billion)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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