Variable Frequency Drives Market Expansion

The worldwide variable frequency drive market is anticipated to expand at the rate of 5.0 percentage CAGR from 21.8 million in 2022, to USD 26.9 trillion by 2027. Government regulations on energy efficiency will offer significant growth opportunities for market players.

Variable frequency drives have increased the efficiency and reliability of systems over the past 40-years. They'll have an enormous impact on industrial development throughout the evaluation period. Variable frequency devices can yield substantial returns on investments, but the period of payback will be dependent on the motor's type and the particular application. VFDs in applications that require heavy-duty use need to be maintained regularly. This may result in expensive maintenance costs as well as separate troubleshooting software. This can reduce growth prospects and lead users to choose low-cost options.

The worldwide market for Variable Frequency drives is likely to be driven by an increase in demand

The central point expected to propel the Global Variable Frequency Drive Market is the growing demand for energy-efficient items from the business, private, and the modern world, as well as expanding strict guidelines focusing on energy efficiency as well as expanding concerns for the foundation.

Market Restraining Factors Driven by Variable Frequency

Low Adoption Rates Due to High Installation Costs

HVAC systems may comprise air return filters, filters, or exhaust outlets. They also contain ducts, induction motors, electrical parts such as outdoor units as well as compressors, coils and blowers. These systems are costly and consume a lot of space. This will likely limit the growth of the market for HVAC VFD drives. Harmonics, low power factors, and operational noise are all problems with HVAC variable frequency drive systems. This can lead to excessive overhead costs. The latest variable frequency drives operate at higher frequencies. The noise levels that exceed the range of audibles can result.

Thanks to China's rising automotive and construction sectors, South Asia & Pacific will see an increase in the margins of profit for producers. There are tremendous opportunities for Germany and the United States. These patterns suggest that the VFD market will expand by more than 5% in the period between 2031 and 2031.

Siemens introduced the SINAMICS G115D in April 2021. This compact and revolutionary robust drive system was made for horizontal conveyors. The drive system comes in two versions: motor-mounted and wall-mounted. The drive unit combines the gearbox motor, gearbox, and motor into one unit.

The Altivar 360 variable speed drive by Schneider Electric was released in February 2021. It is suitable for applications ranging from 0.37 to 22kW/0.5 to 30HP. It is suitable for industrial applications due to its compact size, robust design, simple installation (based on the Plug & Play principle) integrated functionality, and macro setup.

Variable Frequency Drives Market comprises key companies which are Schneider Electric, Siemens AG, Anaheim Automation Inc., Hitachi Ltd., Nidec Motor Corporation, Mitsubishi Electric Corporation, Johnson Controls Inc., Honeywell International Inc., Toshiba International Corporation, The Danfoss Group, WEG S.A., Yaskawa Electric Corporation, and other large corporations.

The market is split by type into AC drives and DC drives. The market can be classified according to its power range into low, high, and mid-power ranges. The market is classified according to the use they are as extruders, pumps, and HVAC fans in addition to conveyors, HVAC, electric fans, and pumps. The market can be segmented by end-users into the power generation industry, infrastructure, and oil and gas. Food and beverages, mining agriculture, and many other sectors. The power generation segment was the most dominant segment in 2021.

What is the size of the market for variable frequency drives?

What are the major factors driving the variable frequency drive market?

What is the market size for variable frequency drives?

What factors determine the variable frequency that is responsible for the growth in market prices?

Which market is the most lucrative for variable frequency drives?

What is the most crucial use of variable frequency drives?