The report "Variable Frequency/Speed Drives (VFD/VSD) Market, By AC And DC Drive, Low, Medium And High Voltage Range Type, And Application (Pump, Fan, Compressor) - Global Market Trends and Forecast To 2017" defines and segments the global VFD market with analysis and forecasting of the global revenue. Variable frequency drives market will grow from an estimated $12,414 million in 2012 to $18,854 million by 2017, with a CAGR of 8.7% from 2012 to 2017.
Browse 115 market data tables and 34 figures spread through 338 Slides and in-depth TOC on "Variable Frequency/Speed Drives (VFD/VSD) Market, By AC And DC Drive, Low, Medium And High Voltage Range Type, And Application (Pump, Fan, Compressor) – Global Market Trends & Forecast To 2017".
Global Variable Frequency Drives (VFD) or Variable Speed Drive (VSD) or Adjustable Speed Drives (ASD) or Frequency Inverter market is witnessing high growth on an account of increasing infrastructure expenditure and growing demand for efficiency around the globe, especially in Asia-Pacific region. Asia-Pacific holds major market share followed by Europe and North America. In terms of individual countries, the market is dominated by China on an account of its thriving and expanding manufacturing sector which is the biggest consumer of VFDs.
Major players of this market are ABB Ltd (Switzerland), Siemens Industry Inc. (U.S.), Schneider Electric SA (France), Rockwell Automation (U.S.), Danfoss Drives (Denmark), and Yaskawa Electric Corp (Japan). Most of these companies mainly relied on growth strategies such as new products launch and acquisitions & expansions. The growing demand for VFDs globally has prompted most of the companies to launch highly innovative and customized products, influencing them to bag more supply contracts to improve their market share.
Every company, whether big or small, wants to penetrate deeper into the existing market and at the same time expand into new and emerging markets to increase their sales margin; thereby increasing their overall revenue. The companies involved in VFD business are thus expanding into emerging markets such as Asia-Pacific, Russia, and South America.
Recent slump experienced by electrical and electronic manufacturing industry along with an implementation costs and downtime involved with an application of VFD has pegged the growth of this market. But this effect would be negated in the long run and the market would continue to grow at a very significant rate in the future due to an increasing awareness about numerous advantages offered by drives and due to recent imposition of stricter energy efficiency norms by various regulatory authorities all over the world.