According to a new market report published by Credence Research, Inc. “Variable Frequency Drive Market By Drive Type (AC Drive, DC Drive, Servo Drive), By Voltage Range (Low Range, Medium Range), By Application (Pump, Fan, Compressor, Conveyor, HVAC, Others), By End User (Oil & Gas, Food Processing, Automotive, Mining & Metals, Pulp & Papers, Others) – Growth, Share, Opportunities & Competitive Analysis, 2016 – 2024”, the global Variable Frequency Drive market is expected to experience steady CAGR of over 7% from 2016 to 2024.
Browse the Variable Frequency Drive Market By Drive Type (AC Drive, DC Drive, Servo Drive), By Voltage Range (Low Range, Medium Range), By Application (Pump, Fan, Compressor, Conveyor, HVAC, Others), By End User (Oil & Gas, Food Processing, Automotive, Mining & Metals, Pulp & Papers, Others) – Growth, Share, Opportunities & Competitive Analysis, 2016 – 2024 report at http://www.credenceresearch.com/report/variable-frequency-drive-market
With the ongoing development and innovation in automatic control, computing and power electronics technologies, electric drive technology is witnessing a new revolution. Major vendors are focusing on introducing advanced products to enhance business productivity and energy efficiency, which is boosting growth of the market. Additionally, broadening application area of variable frequency drive in pulp and paper and food processing industries is expected to support growth of the market over the forecast period. Further, compatibility of new VFD motors with existing one is increasing the uptake of various drives such as AC drive, DC drive and servo drive across major end user industries worldwide. However, technical issues associated with variable frequency drive is hampering growth of the market. Further, high initial cost is projected to hinder adoption of variable frequency drive in developing regions.
Request Sample: http://www.credenceresearch.com/sample-request/58342
Major vendors in the variable frequency drive market focus on investing substantial amount on research and development activities to introduce technologically advanced and cost-effective motors to differentiate meet customer demand. Also, acquisition and mergers and operational expansion are other major strategies followed by key players to expand market footprints and enter emerging market. Prominent players operating in the global variable frequency drive market are Fuji Electric Co., Ltd, Mitsubishi Electric Corporation, Siemens AG, ABB Ltd., American Electric Technologies Inc. (AETI), GE Energy Power Conversion, Hitachi Ltd., Honeywell International Inc., Johnson Controls Inc., and Schneider Electric.
- Introduction of bundled solutions and services
- Key players focus on introducing industry-specific products
- Surge in acquisitions and mergers
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Who we are
Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.
Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.
Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.
What we do
We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.
No matter the challenge, we concentrate on delivering functional and persevering results, and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist work straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.
Name: Chris Smith
Designation: Global Sales Manager