Dublin, Oct. 24, 2013 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/gklxsw/variable)
has announced the addition of the "The
Global Market for Variable Frequency Drives and Variable Speed
Drives" report to their offering.
This report covers the global VFD market in major regions namely
Asia-Pacific, Europe, North America, Latin America, and Middle East
& Africa under major applications such as pumps, fans,
compressors, conveyors, elevators, extruders, and other
applications (mixers, agitators, etc.). Various types of VFD
included are AC drives, DC drives, and servo drives. Also, power
ranges of VFD (micro power drives, low power drives, medium power
drives, and high power drives); and voltage ranges of VFD (low
voltage drives and medium voltage drives) are identified and
included in this report.
Growing demand for electrical efficiency and increasing investment
in modernization of infrastructure will drive the global VFD
(variable
frequency drives)/VSD (variable speed drives)/ASD (adjustable
speed drives)/inverters market to $18,854 million by 2017, with a
CAGR of 8.7% from 2012 to 2017. Asia-Pacific, with its thriving
economies and rapidly expanding manufacturing bases, is expected to
experience highest revenue growth during the next five years.
The factors driving growth in the VFD market are rising energy
prices, stringent efficiency regulations, and increased awareness
about advantages of the drives. VFD is a highly developing market
despite having a large base due to its enormous potential offered
by these drives. Though the market experienced slight reduction in
the growth rate in 2012; this effect will be short lived and the
market will bounce back with steady growth in the future.
VFD manufacturers mainly focus on R&D in order to develop new
and improved products, which offer more distinguished and
revolutionary features such as more precision, control, and
efficiency. Expansion into new and emerging markets such as
Asia-Pacific, Russia, and South America has been and will be the
key for success for VFD manufacturers if they intend to increase
their overall sales and revenue. . In 2012, ABB Ltd (Switzerland)
dominated the VFD market with 19% market share. Siemens Industry
Inc. (U.S.) stood second with 13.8% and Schneider Electric SA
(France) occupied around 8.5% market share of the total VFD
market.
AC drives occupy maximum market share due to their comprehensive
use in all types of industries and induction motors to achieve
multiple speeds of operation. By application, the drives that are
used for pumps capture maximum market share. The high power drives
are applied in heavy industries such as oil & gas, metals &
mining, power generation, cement, paper, wind energy, water &
wastewater, and marine. These involve huge capital and
infrastructure investment expending but offer enormous savings and
reduction in power consumption.
For this report, various secondary sources such as chemical
magazines, encyclopedia, directories, technical handbooks, company
annual reports, industry association publications, articles, trade
websites, and databases have been referred to identify &
collect information useful for this extensive commercial study of
global VFD market. The primary sourcesexperts from related
industries and suppliershave been interviewed to obtain and verify
critical information as well as to assess the future prospects and
market estimations.
This report analyzes various marketing trends and establishes the
most effective growth strategy in the market. It identifies market
dynamics such as drivers, restraints, opportunities, burning
issues, and winning imperatives.
Major companies such as ABB Ltd, Danfoss
Drives, Siemens Industry Inc., Schneider Electric SA, Vacon Plc,
Rockwell Automation, Yaskawa Electric Corp., Eaton Corporation, GE
Energy Power Conversion (Converteam), etc. have also been profiled
in this report.
For more information visit http://www.researchandmarkets.com/research/gklxsw/variable
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