Variable Frequency Drive (VFD) Market by End-user, Type, and Geography - Forecast and Analysis 2023-2027

Published: May 2023 Pages: 185 SKU: IRTNTR72767

Variable Frequency Drives Market Insights

The Global Variable Frequency Drives (VFD) Market size is estimated to grow by USD 7,124.1 million between 2022 and 2027 accelerating at a compound annual growth rate (CAGR) of 5.5%. The growth of the variable frequency drive market depends on several factors, the presence of regulations that mandate the use of variable frequency drives in industries, the growing need for energy-efficient equipment, and the increasing demand from HVAC&R applications.

This report extensively covers market segmentation by end-user (food and beverage, water and wastewater treatment, oil and gas, power generation, and automotive and others), type (low voltage drives and medium voltage drives), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. 

What will be the Size of the Variable Frequency Drive (VFD) Market During the Forecast Period?

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Technavio’s Exclusive Variable Frequency Drive (VFD) Market Customer Landscape

Our analysis of the adoption life cycle of the market indicates its movement between the innovator’s stage and the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027. 

Global Variable Frequency Drives Market Customer Landscape

Key Drivers, Trends, and Challenges

Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.    

Key Variable Frequency Drive Market Drivers

One of the key factors driving growth in the VFD market is the presence of regulations that mandate the 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 the variable frequency drive market growth even during the forecast period.

Significant Variable Frequency Drive Market Trends

Technological advances are another factor supporting the VFD market share growth. Conventional variable frequency drives make use of Active Front End (AFE) rectifiers 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. 

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.

Major Variable Frequency Drive Market Challenges

The lack of stability in crude oil prices and the stagnant growth of the mining industry will be major challenges for the VFD market during the forecast period. The oil and gas industry is a significant contributor to the market. The price of crude oil influenced the price of its by-products, such as gasoline and lubricants. Most 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 during the forecast period.

Who are the Major Variable Frequency Drive (VFD) Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the variable frequency drive market.

ABB Ltd.: The company offers variable frequency drive solutions such as CONTROL BOARD RDCU 12C plus Crane Software, IGBT MODULE.

Danaher Corp.: The company offers variable frequency drive solutions through its subsidiary Kollmorgen Corporation such as Bronco VFD Series.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:

  • Danfoss AS
  • Eaton Corp. Plc
  • Emerson Electric Co.
  • Fuji Electric Co. Ltd.
  • General Electric Co.
  • Hitachi Ltd.
  • Honeywell International Inc.
  • Johnson Controls International Plc
  • Mitsubishi Electric Corp.
  • Nidec Corp.
  • Rockwell Automation Inc.
  • Schaffner Group
  • Schneider Electric SE
  • Siemens AG
  • Spoc Automation Inc.
  • Toshiba Corp.
  • WEG Equipamentos Eletricos S.A.
  • Yaskawa Electric Corp.

Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Variable Frequency Drive (VFD) Market Segmentation by End-user, Type, and Geography 

End-user Segment Analysis

The food and beverage segment will account for a major share of the market's growth during the forecast period. The manufacturers of food are adopting energy-efficient equipment to compete in a highly fragmented global food and beverage industry. Variable frequency drives are aiding food and beverage manufacturers not only in fulfilling the sanitary regulatory requirements but also ensuring an energy-efficient solution for food processing, which is expected to augment the demand for variable frequency drives in the food and beverage industry during the forecast period.

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The food and beverage segment was valued at USD 4,551.49 million in 2017 and continued to grow until 2021. The majority of processes in the food and beverage industry involve the use of motors and motor-related equipment. The motors are mostly used for tasks such as food processing, cold supply, and ventilation. Variable frequency drives are used to regulate and control motor applications in liquid filling, flying shear cutting, conveyor systems, and pumps for high-pressure food processing. These systems require regular cleaning to reduce the chances of food contamination.

Variable frequency drives aid in reducing energy consumption during the cleaning process. Furthermore, minor machine failures in continuous process lines can have a hugely detrimental effect on overall productivity. Therefore, features such as advanced drive diagnostics aid in reducing the overall troubleshooting time and preventing unnecessary trips in the case of a breakdown of machines. This ensures uninterrupted process flow.

Type Segment Analysis

Based on type, the market has been segmented into low-voltage drives and medium-voltage drives. The low-voltage drives segment will account for the largest share of this segment. As variable frequency drives find major applications in controlling low and medium voltage motors, the increasing demand for low and medium voltage motors provides a high growth opportunity for the vendors of low voltage variable frequency drives. 

Moreover, adopting variable frequency drives for certain applications that demand limited functions, such as a smooth start and stop, can increase the costs and delay the overall ROI for end-users. Soft starters are more cost-efficient than variable frequency drives in low-voltage motor applications. Soft starters provide smooth motor start and stop functionalities. This factor is expected to restrain the growth rate of the low voltage variable frequency drives segment of the global variable frequency drives market during the forecast period.

Regional Analysis

APAC is estimated to contribute 36% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the variable frequency drive market during the forecast period.  

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The operations of global food and beverage companies are expanding in APAC. Therefore, the focus on food safety and inspection systems has started increasing in the region. Many small and medium enterprises (SMEs) have also started adopting automated material handling and packaging systems to compete with global vendors. Factors such as rising demand for food and beverages, growing population, and increasing disposable income are significantly driving the growth of the industry in APAC. Growing investments in the food and beverage industry will significantly drive the demand for variable frequency drives in the region during the forecast period.

Covid Recovery Analysis

In early 2020, the outbreak of COVID-19 hindered the demand for variable frequency drives from the consumer and manufacturing industries. 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. Such factors are expected to drive the growth of the variable frequency drives market in APAC during the forecast period.

Segment Overview

The variable frequency drives market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • End-User Outlook (USD Million, 2017 - 2027)
    • Food and beverage
    • Water and wastewater treatment
    • Oil and gas
    • Power generation
    • Automotive and others
  • Type Outlook (USD Million, 2017 - 2027)
    • Low voltage drives
    • Medium voltage drives
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Variable Frequency Drives Market Scope

Report Coverage

Details

Page number

185

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.5%

Market growth 2023-2027

USD 7,124.1 million

Market structure

Fragmented

YoY growth 2022-2023(%)

5.16

Regional analysis

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

Performing market contribution

APAC at 36%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

 Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., Danaher Corp., Danfoss AS, Eaton Corp. Plc, Emerson Electric Co., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc, Mitsubishi Electric Corp., Nidec Corp., Rockwell Automation Inc., Schaffner Group, Schneider Electric SE, Siemens AG, Spoc Automation Inc., Toshiba Corp., WEG Equipamentos Eletricos S.A., and Yaskawa Electric Corp.

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 forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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

  • CAGR of the variable frequency drive market during the forecast period
  • Detailed information on factors that will drive the growth of the variable frequency drives market between 2023 and 2027
  • Precise estimation of the variable frequency drives market size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis 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 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global variable frequency drives market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on global variable frequency drives market 2017 - 2021 ($ million)
    • 4.2 End-user Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.3 Type Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
    • 6.2 Comparison by End-user
      • Exhibit 32: Chart on Comparison by End-user
      • Exhibit 33: Data Table on Comparison by End-user
    • 6.3 Food and beverage - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Food and beverage - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Food and beverage - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Food and beverage - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Food and beverage - Year-over-year growth 2022-2027 (%)
    • 6.4 Water and wastewater treatment - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Water and wastewater treatment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Water and wastewater treatment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Water and wastewater treatment - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Water and wastewater treatment - Year-over-year growth 2022-2027 (%)
    • 6.5 Oil and gas - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Oil and gas - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Oil and gas - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Oil and gas - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Oil and gas - Year-over-year growth 2022-2027 (%)
    • 6.6 Power generation - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Power generation - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Data Table on Power generation - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Chart on Power generation - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Power generation - Year-over-year growth 2022-2027 (%)
    • 6.7 Automotive and others - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Automotive and others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 51: Data Table on Automotive and others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Chart on Automotive and others - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Automotive and others - Year-over-year growth 2022-2027 (%)
    • 6.8 Market opportunity by End-user
      • Exhibit 54: Market opportunity by End-user ($ million)
      • Exhibit 55: Data Table on Market opportunity by End-user ($ million)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 56: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 57: Data Table on Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Type
      • Exhibit 58: Chart on Comparison by Type
      • Exhibit 59: Data Table on Comparison by Type
    • 7.3 Low voltage drives - Market size and forecast 2022-2027
      • Exhibit 60: Chart on Low voltage drives - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Data Table on Low voltage drives - Market size and forecast 2022-2027 ($ million)
      • Exhibit 62: Chart on Low voltage drives - Year-over-year growth 2022-2027 (%)
      • Exhibit 63: Data Table on Low voltage drives - Year-over-year growth 2022-2027 (%)
    • 7.4 Medium voltage drives - Market size and forecast 2022-2027
      • Exhibit 64: Chart on Medium voltage drives - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Data Table on Medium voltage drives - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Chart on Medium voltage drives - Year-over-year growth 2022-2027 (%)
      • Exhibit 67: Data Table on Medium voltage drives - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Type
      • Exhibit 68: Market opportunity by Type ($ million)
      • Exhibit 69: Data Table on Market opportunity by Type ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 71: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 72: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 73: Chart on Geographic comparison
      • Exhibit 74: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 83: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 84: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 85: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 86: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.7 South America - Market size and forecast 2022-2027
      • Exhibit 91: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 92: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 93: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 94: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 99: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 100: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 101: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 102: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 Japan - Market size and forecast 2022-2027
      • Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.11 Germany - Market size and forecast 2022-2027
      • Exhibit 107: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 108: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 109: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 110: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.12 UK - Market size and forecast 2022-2027
      • Exhibit 111: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 112: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 113: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 114: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 115: Market opportunity by geography ($ million)
      • Exhibit 116: Data Tables on Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 117: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 119: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 120: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 121: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 122: Matrix on vendor position and classification
            • 12.3 ABB Ltd.
              • Exhibit 123: ABB Ltd. - Overview
              • Exhibit 124: ABB Ltd. - Business segments
              • Exhibit 125: ABB Ltd. - Key news
              • Exhibit 126: ABB Ltd. - Key offerings
              • Exhibit 127: ABB Ltd. - Segment focus
            • 12.4 Danaher Corp.
              • Exhibit 128: Danaher Corp. - Overview
              • Exhibit 129: Danaher Corp. - Business segments
              • Exhibit 130: Danaher Corp. - Key news
              • Exhibit 131: Danaher Corp. - Key offerings
              • Exhibit 132: Danaher Corp. - Segment focus
            • 12.5 Danfoss AS
              • Exhibit 133: Danfoss AS - Overview
              • Exhibit 134: Danfoss AS - Business segments
              • Exhibit 135: Danfoss AS - Key news
              • Exhibit 136: Danfoss AS - Key offerings
              • Exhibit 137: Danfoss AS - Segment focus
            • 12.6 Eaton Corp. Plc
              • Exhibit 138: Eaton Corp. Plc - Overview
              • Exhibit 139: Eaton Corp. Plc - Business segments
              • Exhibit 140: Eaton Corp. Plc - Key news
              • Exhibit 141: Eaton Corp. Plc - Key offerings
              • Exhibit 142: Eaton Corp. Plc - Segment focus
            • 12.7 Emerson Electric Co.
              • Exhibit 143: Emerson Electric Co. - Overview
              • Exhibit 144: Emerson Electric Co. - Business segments
              • Exhibit 145: Emerson Electric Co. - Key news
              • Exhibit 146: Emerson Electric Co. - Key offerings
              • Exhibit 147: Emerson Electric Co. - Segment focus
            • 12.8 Fuji Electric Co. Ltd.
              • Exhibit 148: Fuji Electric Co. Ltd. - Overview
              • Exhibit 149: Fuji Electric Co. Ltd. - Business segments
              • Exhibit 150: Fuji Electric Co. Ltd. - Key offerings
              • Exhibit 151: Fuji Electric Co. Ltd. - Segment focus
            • 12.9 Hitachi Ltd.
              • Exhibit 152: Hitachi Ltd. - Overview
              • Exhibit 153: Hitachi Ltd. - Business segments
              • Exhibit 154: Hitachi Ltd. - Key news
              • Exhibit 155: Hitachi Ltd. - Key offerings
              • Exhibit 156: Hitachi Ltd. - Segment focus
            • 12.10 Honeywell International Inc.
              • Exhibit 157: Honeywell International Inc. - Overview
              • Exhibit 158: Honeywell International Inc. - Business segments
              • Exhibit 159: Honeywell International Inc. - Key news
              • Exhibit 160: Honeywell International Inc. - Key offerings
              • Exhibit 161: Honeywell International Inc. - Segment focus
            • 12.11 Mitsubishi Electric Corp.
              • Exhibit 162: Mitsubishi Electric Corp. - Overview
              • Exhibit 163: Mitsubishi Electric Corp. - Business segments
              • Exhibit 164: Mitsubishi Electric Corp. - Key news
              • Exhibit 165: Mitsubishi Electric Corp. - Key offerings
              • Exhibit 166: Mitsubishi Electric Corp. - Segment focus
            • 12.12 Nidec Corp.
              • Exhibit 167: Nidec Corp. - Overview
              • Exhibit 168: Nidec Corp. - Business segments
              • Exhibit 169: Nidec Corp. - Key news
              • Exhibit 170: Nidec Corp. - Key offerings
              • Exhibit 171: Nidec Corp. - Segment focus
            • 12.13 Rockwell Automation Inc.
              • Exhibit 172: Rockwell Automation Inc. - Overview
              • Exhibit 173: Rockwell Automation Inc. - Business segments
              • Exhibit 174: Rockwell Automation Inc. - Key news
              • Exhibit 175: Rockwell Automation Inc. - Key offerings
              • Exhibit 176: Rockwell Automation Inc. - Segment focus
            • 12.14 Schneider Electric SE
              • Exhibit 177: Schneider Electric SE - Overview
              • Exhibit 178: Schneider Electric SE - Business segments
              • Exhibit 179: Schneider Electric SE - Key news
              • Exhibit 180: Schneider Electric SE - Key offerings
              • Exhibit 181: Schneider Electric SE - Segment focus
            • 12.15 Siemens AG
              • Exhibit 182: Siemens AG - Overview
              • Exhibit 183: Siemens AG - Business segments
              • Exhibit 184: Siemens AG - Key news
              • Exhibit 185: Siemens AG - Key offerings
              • Exhibit 186: Siemens AG - Segment focus
            • 12.16 Spoc Automation Inc.
              • Exhibit 187: Spoc Automation Inc. - Overview
              • Exhibit 188: Spoc Automation Inc. - Product / Service
              • Exhibit 189: Spoc Automation Inc. - Key offerings
            • 12.17 WEG Equipamentos Eletricos S.A.
              • Exhibit 190: WEG Equipamentos Eletricos S.A. - Overview
              • Exhibit 191: WEG Equipamentos Eletricos S.A. - Business segments
              • Exhibit 192: WEG Equipamentos Eletricos S.A. - Key offerings
              • Exhibit 193: WEG Equipamentos Eletricos S.A. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 194: Inclusions checklist
                • Exhibit 195: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 196: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 197: Research methodology
                • Exhibit 198: Validation techniques employed for market sizing
                • Exhibit 199: Information sources
              • 13.5 List of abbreviations
                • Exhibit 200: 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.

              INFORMATION 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

              DATA 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

              REPORT 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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              Key Questions Answered

              • 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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              • Data on revenue-generating market segments
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