Shibuya-ku, Tokyo, Japan, Japan, Jan 06, 2022, 03:50 /Comserve / -- The variable frequency drive (VFD) market is projected to reach USD 24.8 billion by 2021, at a CAGR of 5.94% from 2016 to 2021. VFD are used in infrastructural activities which include commercial buildings such as hospitals, and educational institutions.
With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
The variable frequency drive (VFD) market is projected to reach USD 24.8 billion by 2021, at a CAGR of 5.94% from 2016 to 2021. VFD are used in infrastructural activities which include commercial buildings such as hospitals, and educational institutions. Increasing urbanization and industrialization in developing countries such as India, growing need for energy efficiency, reduction in operating costs of any energy intensive industry, regulations on energy efficiency, growing trend of industrial automation, and regulations to ensure efficiency are expected to drive the variable frequency drive market.
“The AC drives segment is expected to grow at the highest CAGR from 2016 to 2021”
Based on segment, AC drives are expected to constitute the fastest growing market from 2016 to 2021. AC drives are witnessing an increase in demand, as they are more efficient, requires less maintenance as compared to dc drives. Therefore, the AC drive segment has higher market share than the DC drive segment.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Variable Frequency Drive Market-Size, Insights of Scope, Compound Annual Growth, Forecast to-2021(Trending Report)
“Variable frequency drives in the low voltage segment is expected to grow at the fastest CAGR from 2016 to 2021”
With regard to voltage, the low voltage segment is estimated to grow at the fastest CAGR. The demand from industries such as utilities, petrochemicals, water & wastewater, metals & mining, and cement, would drive the low voltage drives market. The low voltage drives are generally employed in applications such as pumps, compressors, conveyors, crushers & mills, fans, and kiln applications.
“Asia-Pacific: The largest market for variable frequency drives”
Asia-Pacific is currently the largest market for VFD, closely followed by Europe. The Asian market is primarily driven by countries such as China, India, Japan, Australia, Indonesia, and South Korea. China is expected to dominate the variable frequency drives market, followed by Japan and India. Urbanization and industrialization will drive the Asia-Pacific market during the forecast period.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 60%, Tier 2- 27%, Tier 3- 13%
By Designation: C-Level- 35%, Manager-Level- 25%, Others- 40%
By Region: Americas- 40%, Europe- 19%, Asia-Pacific- 17%, Middle East- 15%, and Africa- 9%
Fill This Form and get the Sample Copy of This Report: https://www.sdki.jp/sample-request-107897
The Final Report will cover the impact analysis of COVID-19 on this industry: Variable Frequency Drive Market-Size, Insights of Scope, Compound Annual Growth, Forecast to-2021(Trending Report)
Research Coverage:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the variable frequency drive market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on equipment offered by the top players in the global variable frequency drive market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the variable frequency drive market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for variable frequency drive across regions
• Market Diversification: Exhaustive information about new products, untapped markets, recent developments, and investments in the global variable frequency drive market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global variable frequency drive market
TABLE OF CONTENTS
1 INTRODUCTION 16
1.1 OBJECTIVES OF THE STUDY 16
1.2 MARKET DEFINITION 16
1.3 MARKET SCOPE 17
1.3.1 MARKETS COVERED 17
1.3.2 YEARS CONSIDERED FOR THE STUDY 18
1.4 CURRENCY 19
1.5 LIMITATIONS 19
1.6 STAKEHOLDERS 19
2 RESEARCH METHODOLOGY 20
2.1 RESEARCH DATA 20
2.1.1 SECONDARY DATA 21
2.1.1.1 Key data from secondary sources 21
2.1.2 PRIMARY DATA 21
2.1.2.1 Key data from primary sources 21
2.1.2.2 Key industry insights 23
2.1.2.3 Breakdown of Primaries 23
2.2 MARKET SIZE ESTIMATION 24
2.2.1 BOTTOM-UP APPROACH 24
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