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Variable Frequency Drives Market by End-user, Type, and Geography - Forecast and Analysis 2022-2026

  • Published: Mar 2022
  • Pages: 170
  • SKU: IRTNTR72767
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The variable frequency drives market share is expected to increase by USD 7.37 billion from 2021 to 2026, at a CAGR of 6.02%.

This variable frequency drives market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers variable frequency drives market segmentation by end-user (food and beverage, water and wastewater treatment, oil and gas, power generation, and others), type (low voltage drives and medium voltage drives), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The variable frequency drives market report also offers information on several market vendors, including ABB Ltd., AMTECH SYSTEMS INC., Eaton Corp. Plc, Emerson Electric Co., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc, Kollmorgen Corp., Mitsubishi Electric Corp., Nidec Corp., Rockwell Automation Inc., Schaffner Group, Schneider Electric SE, Siemens AG, Spoc Automation Inc., Toshiba Corp., WEG SA, Yaskawa Electric Corp., and Danfoss AS among others.

What will the Variable Frequency Drives Market Size be During the Forecast Period?

Variable Frequency Drives Market Size

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Variable Frequency Drives Market: Key Drivers, Trends, and Challenges

The presence of regulations that mandate the use of variable frequency drives in industries is notably driving the variable frequency drives market growth, although factors such as lack of stability in crude oil prices and stagnant growth of mining industry may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the variable frequency drives industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Variable Frequency Drives Market Driver

One of the key factors driving growth in the variable frequency drives market is the presence of regulations that mandate use of variable frequency drives in industries. The change in motor regulation requires industrial operators to shift toward more energy-efficient motors. The shift toward the use of more energy-efficient motors has increased the overall CAPEX for the industrial end-users. This is because IE3-rated premium efficiency motors can cost up to 15%-20%. They can cost higher when compared with IE1-rated electric motors. Therefore, the increase in the overall motor cost has prompted industrial operators to protect the devices from fluctuating voltage and harmonic current. They also aid in reducing the overall downtime and associated maintenance cost due to motor damage from non-linear loads. The regulation on energy efficiency for motors mandates the use of variable frequency drives with such industrial motors. Therefore, with the changing government regulation on motor efficiency, the demand for variable frequency drives is fueling market growth even during the forecast period.

Key Variable Frequency Drives Market Trend

The technological advances in variable frequency drives is another factor supporting the variable frequency drives market share growth. Conventional variable frequency drives make use of Active Front End (AFE) rectifier and multi-purpose transformers to mitigate harmonics. This additional equipment helps in mitigating harmonics during operations. It also includes downsides such as an increase in wiring requirement, space requirement, and high cost. To overcome these challenges, vendors are focusing on matrix design in variable frequency drives. Conventional variable frequency drives have DC bus. As a result, the drive draws non-linear current that creates harmonics. The development of matrix bi-directional arrangement allows directing power generated from motors due to negative torque back to the power sources, ensuring optimum use of energy during the motor control operation. This arrangement not only provides protection to motors from non-linear loads but also ensures high-energy saving through the use of regenerated power from motors. With the growing focus toward energy efficiency, the demand for such regenerative variable frequency drives is expected to increase during the forecast period.

Key Variable Frequency Drives Market Challenge

The lack of stability in crude oil prices and stagnant growth of mining industry will be a major challenge for the variable frequency drives market during the forecast period. The oil and gas industry is a significant contributor to the global variable frequency drives market. The price of crude oil influenced the price of its by-products such as gasoline and lubricants. Most of the companies are taking slow steps in investing in big projects and waiting for oil prices to stabilize fully. For the base year, and 2022, oil and gas upstream investments are expected to be slower. Post this, the investment may rise. This would drive back the demand for variable frequency drives from the oil and gas industry. At present, the economy of China is shifting toward the consumer-led service model, which is reducing the demand for coal, copper, and iron in the country. The evolution of shale gas, increasing number of regulations, declining productivity of mines, and elevated debt levels are also adversely affecting the profits of mining companies. All these factors have drastically and adversely affected the investment scenario in the mining industry. This is negatively impacting the demand for new variable frequency drives from the industry. However, the slow growth of these industries had a direct negative impact on the sales of variable frequency drives in the base year.

This variable frequency drives market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global variable frequency drives market as a part of the global electrical components and equipment market within the global electrical equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the variable frequency drives market during the forecast period.

Who are the Major Variable Frequency Drives Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • AMTECH SYSTEMS INC.
  • Eaton Corp. Plc
  • Emerson Electric Co.
  • Fuji Electric Co. Ltd.
  • General Electric Co.
  • Hitachi Ltd.
  • Honeywell International Inc.
  • Johnson Controls International Plc
  • Kollmorgen Corp.
  • Mitsubishi Electric Corp.
  • Nidec Corp.
  • Rockwell Automation Inc.
  • Schaffner Group
  • Schneider Electric SE
  • Siemens AG
  • Spoc Automation Inc.
  • Toshiba Corp.
  • WEG SA
  • Yaskawa Electric Corp.
  • Danfoss AS

 

This statistical study of the variable frequency drives market encompasses successful business strategies deployed by the key vendors. The variable frequency drives market is fragmented and the vendors are deploying growth strategies such as focusing on R and D and M and A to compete in the market.

Product Insights and News

  • abb.com - The company offers variable frequency drives that is used in cable distribution cabinets, cable distribution cabinets for utilities and network owners, circuit breakers, air and earthing and lightning protection, arc guard, arc guard, service.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The variable frequency drives market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Variable Frequency Drives Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the variable frequency drives market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Variable Frequency Drives Market?

Variable Frequency Drives Market Market segmentation by region

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35% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for variable frequency drives in APAC. Market growth in this region will be faster than the growth of the market in the European, MEA, and South American regions.

The strong industrial growth, rising demand for medium voltage and low voltage motor, and increasing investments in power, water and wastewater treatment, and food and beverages industries will facilitate the variable frequency drives market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In early 2020, the outbreak of COVID-19 hindered the demand for variable frequency drives from the consumer and manufacturing industries. Several countries, including China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, were under partial or complete lockdowns due to the pandemic. However, in the first half of 2021, the gradual decrease in the number of COVID-19 cases led to the lifting of nationwide lockdowns and the reopening of factories and manufacturing units, which also resulted in the resumption of construction activities. Moreover, the reopening of stores, malls, and other public places increased the demand for power generation. 

What are the Revenue-generating End-user Segments in the Variable Frequency Drives Market?

Variable Frequency Drives Market Segmentation

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The variable frequency drives market share growth by the food and beverages segment will be significant during the forecast period. The global demand for packaged food has increased drastically over the past five years. APAC has been a significant region that has been observing increasing year-over-year demand for packaged food. Food and beverages industry is expected to record a strong potential during the forecast period. Variable frequency drives are aiding the food and beverages manufacturers in not only fulfilling the sanitary regulatory requirements but also ensuring an energy-efficient solution for food processing. Increasing investments in the food and beverages industry in APAC, Europe, and MEA are expected to augment the demand for variable frequency drives during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the variable frequency drives market size and actionable market insights on post COVID-19 impact on each segment.

 

Variable Frequency Drives Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 6.02%

Market growth 2022-2026

$ 7.37 billion

Market structure

Fragmented

YoY growth (%)

6.98

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 35%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., AMTECH SYSTEMS INC., Eaton Corp. Plc, Emerson Electric Co., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc, Kollmorgen Corp., Mitsubishi Electric Corp., Nidec Corp., Rockwell Automation Inc., Schaffner Group, Schneider Electric SE, Siemens AG, Spoc Automation Inc., Toshiba Corp., WEG SA, Yaskawa Electric Corp., and Danfoss AS

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Variable Frequency Drives Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive variable frequency drives market growth during the next five years
  • Precise estimation of the variable frequency drives market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the variable frequency drives industry across APAC, Europe, North America, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of variable frequency drives market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 18: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 19: Bargaining power of buyers – Impact of key factors in 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

  • 5.1 Market segments
    • Exhibit 25: Chart on End-user - Market share 2021-2026 (%)
    • Exhibit 26: Data Table on End-user - Market share 2021-2026 (%)
  • 5.2 Comparison by End-user
    • Exhibit 27: Chart on Comparison by End-user
    • Exhibit 28: Data Table on Comparison by End-user
  • 5.3 Food and beverage - Market size and forecast 2021-2026
    • Exhibit 29: Chart on Food and beverage - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Data Table on Food and beverage - Market size and forecast 2021-2026 ($ million)
    • Exhibit 31: Chart on Food and beverage - Year-over-year growth 2021-2026 (%)
    • Exhibit 32: Data Table on Food and beverage - Year-over-year growth 2021-2026 (%)
  • 5.4 Water and wastewater treatment - Market size and forecast 2021-2026
    • Exhibit 33: Chart on Water and wastewater treatment - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Data Table on Water and wastewater treatment - Market size and forecast 2021-2026 ($ million)
    • Exhibit 35: Chart on Water and wastewater treatment - Year-over-year growth 2021-2026 (%)
    • Exhibit 36: Data Table on Water and wastewater treatment - Year-over-year growth 2021-2026 (%)
  • 5.5 Oil and gas - Market size and forecast 2021-2026
    • Exhibit 37: Chart on Oil and gas - Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Data Table on Oil and gas - Market size and forecast 2021-2026 ($ million)
    • Exhibit 39: Chart on Oil and gas - Year-over-year growth 2021-2026 (%)
    • Exhibit 40: Data Table on Oil and gas - Year-over-year growth 2021-2026 (%)
  • 5.6 Power generation - Market size and forecast 2021-2026
    • Exhibit 41: Chart on Power generation - Market size and forecast 2021-2026 ($ million)
    • Exhibit 42: Data Table on Power generation - Market size and forecast 2021-2026 ($ million)
    • Exhibit 43: Chart on Power generation - Year-over-year growth 2021-2026 (%)
    • Exhibit 44: Data Table on Power generation - Year-over-year growth 2021-2026 (%)
  • 5.7 Others - Market size and forecast 2021-2026
    • Exhibit 45: Chart on Others - Market size and forecast 2021-2026 ($ million)
    • Exhibit 46: Data Table on Others - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Chart on Others - Year-over-year growth 2021-2026 (%)
    • Exhibit 48: Data Table on Others - Year-over-year growth 2021-2026 (%)
  • 5.8 Market opportunity by End-user
    • Exhibit 49: Market opportunity by End-user ($ million)

6 Market Segmentation by Type

  • 6.1 Market segments
    • Exhibit 50: Chart on Type - Market share 2021-2026 (%)
    • Exhibit 51: Data Table on Type - Market share 2021-2026 (%)
  • 6.2 Comparison by Type
    • Exhibit 52: Chart on Comparison by Type
    • Exhibit 53: Data Table on Comparison by Type
  • 6.3 Low voltage drives - Market size and forecast 2021-2026
    • Exhibit 54: Chart on Low voltage drives - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on Low voltage drives - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on Low voltage drives - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on Low voltage drives - Year-over-year growth 2021-2026 (%)
  • 6.4 Medium voltage drives - Market size and forecast 2021-2026
    • Exhibit 58: Chart on Medium voltage drives - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Medium voltage drives - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Medium voltage drives - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Medium voltage drives - Year-over-year growth 2021-2026 (%)
  • 6.5 Market opportunity by Type
    • Exhibit 62: Market opportunity by Type ($ million)

7 Customer Landscape

  • 7.1 Customer landscape overview
    • Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

  • 8.1 Geographic segmentation
    • Exhibit 64: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 65: Data Table on Market share by geography 2021-2026 (%)
  • 8.2 Geographic comparison
    • Exhibit 66: Chart on Geographic comparison
    • Exhibit 67: Data Table on Geographic comparison
  • 8.3 APAC - Market size and forecast 2021-2026
    • Exhibit 68: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 69: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 70: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 71: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 8.4 Europe - Market size and forecast 2021-2026
    • Exhibit 72: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 73: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 74: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 75: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 8.5 North America - Market size and forecast 2021-2026
    • Exhibit 76: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 77: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 78: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 79: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 8.6 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 80: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 81: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 82: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 83: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 8.7 South America - Market size and forecast 2021-2026
    • Exhibit 84: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 85: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 86: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 87: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 8.8 China - Market size and forecast 2021-2026
    • Exhibit 88: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 89: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 90: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 91: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 8.9 US - Market size and forecast 2021-2026
    • Exhibit 92: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 93: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 94: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 95: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 8.10 Japan - Market size and forecast 2021-2026
    • Exhibit 96: Chart on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 97: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 98: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 99: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 8.11 Germany - Market size and forecast 2021-2026
    • Exhibit 100: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 101: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 102: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 103: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 8.12 UK - Market size and forecast 2021-2026
    • Exhibit 104: Chart on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 105: Data Table on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 106: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 107: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 8.13 Market opportunity by geography
    • Exhibit 108: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

  • 9.1 Market drivers
  • 9.2 Market challenges
  • 9.3 Impact of drivers and challenges
    • Exhibit 109: Impact of drivers and challenges in 2021 and 2026
  • 9.4 Market trends

10 Vendor Landscape

  • 10.1 Overview
  • 10.2 Vendor landscape
    • Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
  • 10.3 Landscape disruption
    • Exhibit 111: Overview on factors of disruption
  • 10.4 Industry risks
    • Exhibit 112: Impact of key risks on business

11 Vendor Analysis

  • 11.1 Vendors covered
    • Exhibit 113: Vendors covered
  • 11.2 Market positioning of vendors
    • Exhibit 114: Matrix on vendor position and classification
  • 11.3 ABB Ltd.
    • Exhibit 115: ABB Ltd. - Overview
    • Exhibit 116: ABB Ltd. - Business segments
    • Exhibit 117: ABB Ltd. - Key news
    • Exhibit 118: ABB Ltd. - Key offerings
    • Exhibit 119: ABB Ltd. - Segment focus
  • 11.4 Danfoss AS
    • Exhibit 120: Danfoss AS - Overview
    • Exhibit 121: Danfoss AS - Business segments
    • Exhibit 122: Danfoss AS - Key news
    • Exhibit 123: Danfoss AS - Key offerings
    • Exhibit 124: Danfoss AS - Segment focus
  • 11.5 Eaton Corp. Plc
    • Exhibit 125: Eaton Corp. Plc - Overview
    • Exhibit 126: Eaton Corp. Plc - Business segments
    • Exhibit 127: Eaton Corp. Plc - Key news
    • Exhibit 128: Eaton Corp. Plc - Key offerings
    • Exhibit 129: Eaton Corp. Plc - Segment focus
  • 11.6 Emerson Electric Co.
    • Exhibit 130: Emerson Electric Co. - Overview
    • Exhibit 131: Emerson Electric Co. - Business segments
    • Exhibit 132: Emerson Electric Co. - Key news
    • Exhibit 133: Emerson Electric Co. - Key offerings
    • Exhibit 134: Emerson Electric Co. - Segment focus
  • 11.7 Hitachi Ltd.
    • Exhibit 135: Hitachi Ltd. - Overview
    • Exhibit 136: Hitachi Ltd. - Business segments
    • Exhibit 137: Hitachi Ltd. - Key news
    • Exhibit 138: Hitachi Ltd. - Key offerings
    • Exhibit 139: Hitachi Ltd. - Segment focus
  • 11.8 Honeywell International Inc.
    • Exhibit 140: Honeywell International Inc. - Overview
    • Exhibit 141: Honeywell International Inc. - Business segments
    • Exhibit 142: Honeywell International Inc. - Key news
    • Exhibit 143: Honeywell International Inc. - Key offerings
    • Exhibit 144: Honeywell International Inc. - Segment focus
  • 11.9 Rockwell Automation Inc.
    • Exhibit 145: Rockwell Automation Inc. - Overview
    • Exhibit 146: Rockwell Automation Inc. - Business segments
    • Exhibit 147: Rockwell Automation Inc. - Key news
    • Exhibit 148: Rockwell Automation Inc. - Key offerings
    • Exhibit 149: Rockwell Automation Inc. - Segment focus
  • 11.10 Schneider Electric SE
    • Exhibit 150: Schneider Electric SE - Overview
    • Exhibit 151: Schneider Electric SE - Business segments
    • Exhibit 152: Schneider Electric SE - Key news
    • Exhibit 153: Schneider Electric SE - Key offerings
    • Exhibit 154: Schneider Electric SE - Segment focus
  • 11.11 Siemens AG
    • Exhibit 155: Siemens AG - Overview
    • Exhibit 156: Siemens AG - Business segments
    • Exhibit 157: Siemens AG - Key news
    • Exhibit 158: Siemens AG - Key offerings
    • Exhibit 159: Siemens AG - Segment focus
  • 11.12 WEG SA
    • Exhibit 160: WEG SA - Overview
    • Exhibit 161: WEG SA - Business segments
    • Exhibit 162: WEG SA - Key offerings
    • Exhibit 163: WEG SA - Segment focus

12 Appendix

  • 12.1 Scope of the report
  • 12.2 Inclusions and exclusions checklist
    • Exhibit 164: Inclusions checklist
    • Exhibit 165: Exclusions checklist
  • 12.3 Currency conversion rates for US$
    • Exhibit 166: Currency conversion rates for US$
  • 12.4 Research methodology
    • Exhibit 167: Research methodology
    • Exhibit 168: Validation techniques employed for market sizing
    • Exhibit 169: Information sources
  • 12.5 List of abbreviations
    • Exhibit 170: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Variable Frequency Drives market growth will increase by $7379.04 million during 2022-2026.
The variable frequency drives market is expected to grow at a CAGR of 6.02% during 2022-2026.
Technavio has segmented the variable frequency drives market by end-user (Food and Beverage, Water and wastewater treatment, Oil and gas, Power generation, and Others) ,type (Low voltage drives and Medium voltage drives) , and geographic (APAC, Europe, North America, Middle East and Africa, and South America).
ABB Ltd., AMTECH SYSTEMS INC., Eaton Corp. Plc, Emerson Electric Co., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc, Kollmorgen Corp., Mitsubishi Electric Corp., Nidec Corp., Rockwell Automation Inc., Schaffner Group, Schneider Electric SE, Siemens AG, Spoc Automation Inc., Toshiba Corp., WEG SA, Yaskawa Electric Corp., Danfoss AS are a few of the key vendors in the variable frequency drives market.
APAC will register the highest growth rate of 35.25% among the other regions. Therefore, the variable frequency drives market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the variable frequency drives market growth are:
  • Presence of regulations that mandate use of variable frequency drives in industries
  • Technological advances in variable frequency drives
The variable frequency drives market vendors should focus on grabbing business opportunities from the food and beverage segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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