Variable Frequency Drive Market to Register CAGR worth 7.2% during 2022-2029; Nidec Motor Corporation Declared Its Brand Collaboration in U.S. to Boost Portfolio

The global variable frequency drive market size was valued at USD 19.21 billion in 2021. The market is projected to grow from USD 19.87 billion in 2022 to USD 32.31 billion by 2029, exhibiting a CAGR of 7.2% during the forecast period. This information is provided by Fortune Business Insights™, in its report, titled, “Variable Frequency Drive Market Size, Share & COVID-19 Impact Analysis, By Type (AC Drive, DC Drive, Servo Drive), By Power Range (Micro, Low, Medium, High), By Application (Pumps, Electric Fan, HVAC, Conveyors, Extruders, Others), By End-user (Power Generation, Infrastructure, Oil & Gas, Food & Beverages, Mining, Agriculture, and Others) and Regional Forecasts, 2022-2029.”

COVID-19 Impact:

Interruptions in Supply Chain Management to Deteriorate Growth during Pandemic

The influences of COVID-19 have been shocking and unparalleled with a huge effect on various industry verticals. Travel restrictions inflicted by governments of numerous countries, shelter-in-place-orders, and shutdowns that triggered a decline in manufacturing industries, trade commotion, among others throughout the globe are among the primary factors obstructing the market growth.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/variable-frequency-drive-market-100876

Intelligent Drives Enhance HVAC Safety with Automated System Check

Healthy HVAC systems are important for health, wellbeing, and security of building occupants. Moreover, intelligent drives from Danfoss continually administer the complete installation for readiness and optimum workability.

This procedure involves an automatic examination of the total installation performed by the drive. The test encompasses the complete cable installation involving connection boxes. The drive calculates when the motor is totally prepared to function to safeguard the application and equipped to run at the exact required moment.

Government Regulations and Policies for Energy Saving to Bolster Market Growth

Beneficial government norms and guidelines are predicted to refine the market growth as they act as the crucial drivers of industrial investment in energy proficiency across the globe. In addition, investments made in drives & motors are often an attractive proposition owing of their effortlessness in installation. They can commonly be installed without necessitating any additional alteration of a prevailing industrial system and dominating the speedy acceptance of the variable frequency drive.

Competitive Landscape

Groundbreaking Launches by Prime Players to Spur Market Growth

The leading players operating in this market implement numerous tactics to boost their position as dominating companies. One such prime strategy is procuring companies to spur the brand value among users. Another effective tactic is intermittently unveiling inventive products with a methodical study of the market and its target audience.

Industry Development

• May 2021: Nidec Motor Corporation declared its brand collaboration in the U.S. by expanding the line of heating, ventilation, air conditioning as well as refrigeration (HVACR) solutions intended for the aftermarket section.

List of Key Players Covered in the Report

• Eaton Corporation (Ireland)
• Hitachi Hi-Rel Power Electronics (India)
• Rockwell Automation (U.S.)
• Johnson Controls (Ireland)
• Anaheim Automation Inc. (U.S.)
• WEG (Brazil)
• ABB (Switzerland)
• Nidec Motor Corporation (Japan)
• Siemens (Germany)
• Danfoss Corporation (Denmark)
• Honeywell International Inc. (U.S.)
• TMEIC (U.S.)
• Fuji Electric Corp. of America (Japan)
• Schneider Electric (France)
• Yaskawa Corporation (Japan)
• Toshiba International Corporation (U.S.)
• General Electric (U.S.)
• Mitsubishi Electric Automation, Inc. (U.S.)

Further Report Findings

• Based on end-user, the market is branched into power generation industry, infrastructure, oil & gas, food & beverages, mining, agriculture, and others. The power generation segment dominated the market in 2021.
• Electricity is set to observe an increase in demand over the forecast period. Majority of this increase will arise in the quickest-growing Asia Pacific region, leading the region to hold the largest variable frequency drive market share.

Table of Segmentation