U.S. Variable Frequency Drive Market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.
Variable Frequency Drive (VFD) Market across the U.S. in 2018 exceeded an annual deployment of 2,000 thousand units and is predicted to surpass USD 3,000 million by 2025. Rising environmental concern favored by introduction of directives & reforms associated with energy efficiency will boost the industry growth. Rapid industrial expansion coupled with inclination shift towards energy optimization across large-scale industries will positively influence the product demand. Furthermore, regulatory incentives, investments in R&D and increasing demand for operational enhancements are a few essential factors complementing the business outlook.
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Medium VFD market is anticipated to grow over 1% by 2025. User’s operational profitability and ability to offer quick return on investment by enhancing the process will favor the product penetration. System reliability, declining operational cost, reduced equipment setup time, power factor control, low maintenance and energy savings are few parameters evaluated to nourish the industry landscape.
Direct current (DC) VFD market is projected to witness an annual installation of over 600 thousand units by 2025. Constant speed, high start-up torque, and simple circuits are the primary factors encouraging the product adoption. Although, these products need high maintenance, can deteriorate over time and often face mechanical problems have been hindering the product penetration. However, DC drives turn up to be less complicated than the AC drives, can be easily installed and advanced programming software provided by manufacturers will further strengthen the industry landscape.
In the recent years, MV drives have witnessed an upsurge on account of their wide application across commercial and industrial establishments. Ongoing retrofitting & replacement of prevailing technologies in conjunction with restructuring of industry mandates and regulations has infused a favorable industry scenario. Rising fund allocation coupled with increasing industrial focus towards the advancement of traditional units across the country will further drive the VFD market.
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Over the years, installation of variable frequency drives has upscaled on account of their flexible HVAC applications, mainly through capacity variation. However, these products have witnessed large scale deployment primarily through cost competitiveness and enhanced energy saving feature. Rapid modifications in applicable standards and codes have mandated the incorporation of these products across food industry components which in turn has energized the U.S. variable frequency market.
Industrial shift towards energy efficiency, decreasing energy consumption, declining maintenance costs and rising productivity has obligated manufacturers to adopt enhanced technologies in accordance with the existing standards and codes. In addition, ongoing technological enhancements along with integration of innovative units will further complement the U.S. VFD market.
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Eminent U.S. variable frequency drive (VFD) market players include Johnson Controls, Emerson, Danfoss, Siemens, Honeywell, ABB, Mitsubishi, CG, Schneider, Rockwell, Eaton, Hiconics, WEG Electric, Yaskawa and Hitachi.
Variable Frequency Drive Market worth over $19 billion by 2024: Global Market Insights, Inc.
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