Market Overview:
Variable Frequency Drives (VFD) are devices that control the speed of an electric motor by varying the frequency of the electrical power supplied to it. They are used extensively in a wide range of industrial and commercial applications where precise speed control is required. The global VFD market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The global VFD market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into low voltage (0-690V), medium voltage (690V-3000V), and high voltage (3 kV-10 kV). Low voltage VFDs account for majority share in terms of revenue in 2017 and are expected to maintain their dominance during forecast period as well. On the basis on application, pumps, fans, compressors, conveyors, elevators extruders etc., are some major segments considered in this study. Among these applications pumps held dominant position in 2017 with highest revenue share followed by fans & compressors respectively .Regionally North America accounted for largest share followed by Europe Asia Pacific etc.
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Product Definition:
A VFD, also known as a variable frequency drive is a device that allows the user to control the speed of an electric motor by varying the frequency of the electrical current that powers it. This is important because it allows for more precise control over motor speed than would be possible with manual adjustment alone, which can be especially useful in cases where a steady speed is required despite changes in load or resistance.
Low Voltage (0-690V):
Low voltage (0-690V) is a range of electric potential. Low voltage electricity does not have the ability to cause severe burns or kill instantly, like higher voltages do. The low voltage electricity can go through the body without causing any harm. However, it can still cause serious injuries if enough of it is applied to the body for a short period of time.
The growth factor in VFD market includes two major factors which are increasing demand from developing countries.
Medium Voltage (690V-3000V):
The medium voltage (690V-3000V) is used in variable frequency drives (VFDs) to increase the power factor. The VFDs are widely used in industries such as paper, chemicals, food and beverages, pharmaceuticals manufacturing and others. It helps to regulate the speed of a motor which varies with load demand by changing the frequency of its electrical signal.
Application Insights:
The market is segmented based on application into pumps, fans, compressors, conveyors, and other applications. The pumps segment accounted for the largest share in 2016 owing to the high demand for water treatment and a growing population across the globe. Pumps are used in various industries including oil & gas; chemical; food & beverage; pulp & paper; mining; water treatment among others.
The industry has witnessed significant growth over the past few years owing to technological advancements coupled with economic rationalization of energy consumption across numerous end-use sectors globally. Technological developments such as digital control system that allows flexible adjustment of operating parameters such as frequency and voltage have further accelerated product adoption across various industries globally thereby contributing significantly towards global VFD (variable frequency drives) market growth over recent years.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing industrialization and rising product demand from various end-use industries in emerging economies, such as China, India, and Japan. Moreover, growing infrastructure development activities in this region will drive product demand further.
The Middle East & Africa is also likely to witness significant growth over the next eight years owing to rapid developments taking place in its oil & gas industry. In addition, increasing government spending on infrastructural development activities will boost VFD installations across numerous sectors including water treatment plants and elevators for construction sites/offices/shops etc., thereby driving overall market growth across this region as well.
Growth Factors:
- Increasing demand for energy-efficient solutions: The global VFD market is expected to grow at a CAGR of 7.5% from 2016 to 2021, owing to the increasing demand for energy-efficient solutions across various industries.
- Rising industrial automation: The growth of the industrial automation sector is expected to drive the demand for VFDs in the coming years.
- Growing popularity of smart grids: The growing popularity of smart grids is also anticipated to boost the growth of the global VFD market in the next few years.
- Rapid expansion of renewable energy sources: Renewable sources such as solar and wind are becoming increasingly popular, which is likely to create opportunities for growth in the VFD market in future years.
Scope Of The Report
Report Attributes
Report Details
Report Title
VFD (Variable Frequency Drives) Market Research Report
By Type
Low Voltage (0-690V), Medium Voltage (690V-3000V), High Voltage (3 kV-10 kV)
By Application
Pumps, Fans, Compressors, Conveyors, Elevators, Extruders, Others
By Companies
ABB, Siemens, Schneider Electric, Emerson Electric, Yaskawa Electric, Mitsubishi, Hitach, Danfoss, Toshiba, Fuji Electric, Rockwell Automation, Inovance, Hiconics, INVT, Slanvert, EURA Drives
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global VFD (Variable Frequency Drives) Market Report Segments:
The global VFD (Variable Frequency Drives) market is segmented on the basis of:
Types
Low Voltage (0-690V), Medium Voltage (690V-3000V), High Voltage (3 kV-10 kV)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Pumps, Fans, Compressors, Conveyors, Elevators, Extruders, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Siemens
- Schneider Electric
- Emerson Electric
- Yaskawa Electric
- Mitsubishi
- Hitach
- Danfoss
- Toshiba
- Fuji Electric
- Rockwell Automation
- Inovance
- Hiconics
- INVT
- Slanvert
- EURA Drives
 Market Overview.svg)
Highlights of The VFD (Variable Frequency Drives) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Low Voltage (0-690V)
- Medium Voltage (690V-3000V)
- High Voltage (3 kV-10 kV)
- By Application:
- Pumps
- Fans
- Compressors
- Conveyors
- Elevators
- Extruders
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the VFD (Variable Frequency Drives) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Variable frequency drives (VFDs) are a type of electric motor that uses a rotating magnetic field to generate power. VFDs can be used in applications where speed or torque is important, such as pumps, fans and compressors.
Some of the major players in the vfd (variable frequency drives) market are ABB, Siemens, Schneider Electric, Emerson Electric, Yaskawa Electric, Mitsubishi, Hitach, Danfoss, Toshiba, Fuji Electric, Rockwell Automation, Inovance, Hiconics, INVT, Slanvert, EURA Drives.
The vfd (variable frequency drives) market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 VFD (Variable Frequency Drives) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 VFD (Variable Frequency Drives) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 VFD (Variable Frequency Drives) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the VFD (Variable Frequency Drives) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global VFD (Variable Frequency Drives) Market Size & Forecast, 2018-2028
4.5.1 VFD (Variable Frequency Drives) Market Size and Y-o-Y Growth
4.5.2 VFD (Variable Frequency Drives) Market Absolute $ Opportunity
Chapter 5 Global VFD (Variable Frequency Drives) Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 VFD (Variable Frequency Drives) Market Size Forecast by Type
5.2.1 Low Voltage (0-690V)
5.2.2 Medium Voltage (690V-3000V)
5.2.3 High Voltage (3 kV-10 kV)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global VFD (Variable Frequency Drives) Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 VFD (Variable Frequency Drives) Market Size Forecast by Applications
6.2.1 Pumps
6.2.2 Fans
6.2.3 Compressors
6.2.4 Conveyors
6.2.5 Elevators
6.2.6 Extruders
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global VFD (Variable Frequency Drives) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 VFD (Variable Frequency Drives) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America VFD (Variable Frequency Drives) Analysis and Forecast
9.1 Introduction
9.2 North America VFD (Variable Frequency Drives) Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America VFD (Variable Frequency Drives) Market Size Forecast by Type
9.6.1 Low Voltage (0-690V)
9.6.2 Medium Voltage (690V-3000V)
9.6.3 High Voltage (3 kV-10 kV)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America VFD (Variable Frequency Drives) Market Size Forecast by Applications
9.10.1 Pumps
9.10.2 Fans
9.10.3 Compressors
9.10.4 Conveyors
9.10.5 Elevators
9.10.6 Extruders
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe VFD (Variable Frequency Drives) Analysis and Forecast
10.1 Introduction
10.2 Europe VFD (Variable Frequency Drives) Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe VFD (Variable Frequency Drives) Market Size Forecast by Type
10.6.1 Low Voltage (0-690V)
10.6.2 Medium Voltage (690V-3000V)
10.6.3 High Voltage (3 kV-10 kV)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe VFD (Variable Frequency Drives) Market Size Forecast by Applications
10.10.1 Pumps
10.10.2 Fans
10.10.3 Compressors
10.10.4 Conveyors
10.10.5 Elevators
10.10.6 Extruders
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific VFD (Variable Frequency Drives) Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific VFD (Variable Frequency Drives) Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific VFD (Variable Frequency Drives) Market Size Forecast by Type
11.6.1 Low Voltage (0-690V)
11.6.2 Medium Voltage (690V-3000V)
11.6.3 High Voltage (3 kV-10 kV)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific VFD (Variable Frequency Drives) Market Size Forecast by Applications
11.10.1 Pumps
11.10.2 Fans
11.10.3 Compressors
11.10.4 Conveyors
11.10.5 Elevators
11.10.6 Extruders
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America VFD (Variable Frequency Drives) Analysis and Forecast
12.1 Introduction
12.2 Latin America VFD (Variable Frequency Drives) Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America VFD (Variable Frequency Drives) Market Size Forecast by Type
12.6.1 Low Voltage (0-690V)
12.6.2 Medium Voltage (690V-3000V)
12.6.3 High Voltage (3 kV-10 kV)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America VFD (Variable Frequency Drives) Market Size Forecast by Applications
12.10.1 Pumps
12.10.2 Fans
12.10.3 Compressors
12.10.4 Conveyors
12.10.5 Elevators
12.10.6 Extruders
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) VFD (Variable Frequency Drives) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) VFD (Variable Frequency Drives) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) VFD (Variable Frequency Drives) Market Size Forecast by Type
13.6.1 Low Voltage (0-690V)
13.6.2 Medium Voltage (690V-3000V)
13.6.3 High Voltage (3 kV-10 kV)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) VFD (Variable Frequency Drives) Market Size Forecast by Applications
13.10.1 Pumps
13.10.2 Fans
13.10.3 Compressors
13.10.4 Conveyors
13.10.5 Elevators
13.10.6 Extruders
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 VFD (Variable Frequency Drives) Market: Competitive Dashboard
14.2 Global VFD (Variable Frequency Drives) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Siemens
14.3.3 Schneider Electric
14.3.4 Emerson Electric
14.3.5 Yaskawa Electric
14.3.6 Mitsubishi
14.3.7 Hitach
14.3.8 Danfoss
14.3.9 Toshiba
14.3.10 Fuji Electric
14.3.11 Rockwell Automation
14.3.12 Inovance
14.3.13 Hiconics
14.3.14 INVT
14.3.15 Slanvert
14.3.16 EURA Drives
