North America Variable Frequency Drives Market – Growth & Forecast (2024

North America Variable Frequency Drives Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Variable Frequency Drive(VFD) is used in electromechanical systems helps in varying the voltage, frequency supplied to the electromechanical drive systems. About 30% of electricity across the globe is utilised by motors in various Industrial Internet of things and could be energy efficient by using Variable Frequency Drive. VFD is also used to accelerate and decelerate the speed and torque of AC electric motor. Raise in demand for energy saving machinery and to protect the Industrial equipment’s or electronic gadgets from electric faults such as short circuits, electric fluctuations are the factors accelerated the growth of the VFDs market.

Variable frequency drives market size:

North America variable frequency drives market size is projected to reach approximately $xx billion by the end of 2024 with a CAGR of close to X% from $xx billion in 2017 during the forecast timeline 2018-2024. A decrease in cost and size of the VFD and increase in the performance raised the market over the past four decades and is expected the same market value during the forecast period. An increase of use in various types of VFD at various voltage and power ranges among various applications in Industrial segment leads to the growth of the market. Variable frequency drives are also used in HVAC control system, Food and Beverage Industries, Pulp and other are the key factors accelerating the market growth.

Variable frequency drives market share:

Variable frequency drives market is segmented by type (Alternating Current (AC) Variable Frequency Drivers, Direct

North America Variable Frequency Drives Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Current (AC) Variable Frequency Drivers, Servo Variable Frequency Drivers). These VFDs are used at various current ranges in electric system to decrease the input frequency, the voltage for the efficient use of electric energy. In Mechanical Systems Variable frequency are used to decrease the speed and torque of the propellers, fans and other. Among these, Servo Variable Frequency Driver holds the largest share because the speed and torque are accelerated or decelerated quickly by Servo Variable Frequency Drivers.

By voltage, the VFD market is segmented as (Low Voltage Variable Frequency Drivers, Medium Voltage Variable Frequency Drives). Low Voltage Frequency Drivers are used at voltage ranges < 690 Volts and Medium Voltage Variable Frequency Drivers are at voltage ranges > 690 Volts and above. These are widely used in Industrial equipment’s to reduce the input voltages. Based on Power Range, the VFD market is segmented as High-Power Drivers (251-750 hp), Medium Power Drivers (51-250 hp), Low Power Drivers (6-50 hp), Micro Power Drivers (<6 hp), Macro Power Drivers (>751 hp). These VFDs are used at various power ranges to decrease the speed and torque of electric AC motor, and it directs to decrease the consumption of electricity.

By End-user, the Industrial segment is expected to hold the huge share of the market due to more usage of VFD in electrical equipment to safeguard form electric faults like short circuits and also to decrease the power consumption. On the Basic of geography U.S is Expected to hold the huge market due to increase in new Industrial equipment and more usage od VFD in Industrial Internet of things.

North America variable frequency drives market Trends:

Danfoss Group announced the acquisition of Prosa to become expert in IOT.
To Become Global Leader, ABB Acquired GE Industrial Solutions.

North America variable frequency drives market Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The major key players in the North America variable frequency drives market is:

ABB Ltd.
Siemens AG
Schneider Electric Se
Danfoss
Rockwell Automation
Weg SA

Along with these companies, there were many other companies considered/cited in the report while analysing the North America variable frequency drives market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.

geography U.S is

You can also purchase parts of this report. Do you want to check out a section wise price list

North America Variable Frequency Drives Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Credibility and
Transparency

We actively recruit consumers, business professionals, and elusive individuals for our research panels, fostering enduring relationships. Our commitment to transparency is evident in the comprehensive listing of primary and secondary data sources, ensuring unwavering credibility in our reports.

Exhaustive
Coverage

Uncover the full spectrum with Envision Intelligence. Our detailed and extensive geographical coverage, coupled with survey consultation services, spans brand tracking, concept testing, and consumer behaviour analysis. Adapt to your evolving needs with scalable market research services that leave no facet unexplored.

Competitive
Edge

Stay ahead with Envision Intelligence. Our reports provide the latest market updates up to the date of purchase. Recognising the urgency of impactful decisions, we deliver timely analyses on the unprecedented choices made by CXOs during the COVID-19 crisis—providing valuable insights at no extra cost.

Golden
pportunities

Unearth hidden gems with Envision Intelligence. Our analysts and consultants conduct a comprehensive strategic sieve analysis, augmented by AI tools, to identify non-obvious, golden, and emerging opportunities. Evaluate possibilities that set you apart in the market.

Top-notch Reportsd
Guaranteed

Experience unparalleled depth with Envision Intelligence. Over 70% of our research is exclusive, establishing us as the premier source for in-depth and extensive market insights. Elevate your decision-making with reports that go beyond the ordinary.

Post Purchase
Support

Empower your journey with Envision Intelligence. Our commitment extends beyond the purchase. Enjoy post-purchase support for three months, with queries addressed within 24 business hours via telephone or email. We stand by you in your quest for ongoing success.