DALLAS, Feb. 13, 2013 /PRNewswire-iReach/ -- Variable frequency drives market is expected to 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. 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 VSD and 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.
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The report covers the global variable frequency drives and variable speed drives 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.
With 115 data tables and 34 figures on the variable frequency drives market and variable speed drives industry, this research report (http://www.rnrmarketresearch.com/variable-frequencyspeed-drives-vfdvsd-market-by-type-ac-dc-servo-voltage-range-low-medium-power-range-micro-low-medium-high-and-application-pump-fan-compressor-conveyors-othe-market-report.html) profiles companies like ABB LTD, American Electric Technologies Inc. (AETI), Amtech Electronics India Ltd, Crompton Greaves Ltd, Danfoss Vlt Drives, Eaton Corp., Emerson Industrial Automation, Fuji Electric Co. Ltd, GE Energy Power Conversion, Hiconics Drive Technology Co. Ltd, HitAChi Ltd, Honeywell International Inc., Johnson Controls Inc., Kb Electronics Inc., Mitsubishi Electric Corporation, Rockwell Automation Inc., Schneider Electric Sa, Siemens Industry Inc., Toshiba International Corporation, VACon Plc and Yaskawa Electric Corp. The report segments the global VFD market by type, application, voltage and power range, and geography. It also focuses on market share analysis, and market metrics such as drivers, restraints, and opportunities.
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