Variable Frequency Drive (VFD) Market - Industry Analysis,  Growth Trends and Forecasts (2017-2022)

Variable Frequency Drive (VFD) Market - Industry Analysis, Growth Trends and Forecasts (2017-2022)

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The market is expected to be USD XX billion at the end of the year 2017 and by the end of 2022 it is estimated to reach USD XX billion. The market is expected to grow at a rate of XX%. When an AC motor starts gaining its full speed with full voltage connection, it produces high torque for the motor. This high torque can shock the attached electrical equipment and possibly damage it. VFD are used in this situation to regulate the current and torque. Variable Frequency Drive (VFD) is a power electronics device that is used transform a fixed frequency and fixed voltage AC power into variable frequency and variable voltage power. So VFD is used to control the speed of the motor. 

VFDs are used generate variable motor performance using AC motors. VFDs are widely used in home, commercial as well as industrial domains. These are used in actuators, air cleaners, ball pitching machines, amusement parks. VFDs are also used in conveyors, boat lifts, CNC machines, door openers, drilling machines, fans, feeders, film processing etc. these are also used in garment cutting, grinding, polishing, HVAC equipment, machine tools, shakers and sprayers, portable equipment, sand blasting machines, electrical saws, textile, treadmill, washing machine, metal cutters lathe machines, vacuum cleaners, elevators and hoists.

The power consumption of a motor is directly proportional to its cube of velocity. Thus if a motor is run at 80% of its efficiency it saves 51% of its power. The primary role of a VFD is to provide the ability to control the speed of the motor. So the regulation of speed directly results in energy consumption and results in savings. It is estimated that electric motors use 40% of total energy used. It is estimated that if VFDs are used judiciously, the global energy consumption can reduce by at least 10%.  Furthermore induction motors operate at low power factor between 0.75%-0.85percent of its load. Due to increase in current overheating and insulation the life of the motor gets reduced. Since VFDs operate at high power factor and adjust the load reaching the motor, its use leads to less strain on it. Hence by using VFD the lifetime of the motor is increased. VFDs also have problems associated with it. First is the amount of heat generated by it. So it cannot be placed near inflammatory substances and must be kept in a secure location. Secondly, crosstalk is another major issue with VFDs. When signal of one circuit affects another circuit performance, cross talk is said to occur.  It is major challenge in the domain of power electronics that affects the performance of the equipment and causes overheating and also frequency relay trips.

VFD consists of several parts. This includes, electric motor, controller, operator interface and drive controller. VFDs can also be divided as per variable torque, constant torque and constant power types. Based on inverter drives, VFDs can be categorized as voltage-source inverter (VSI) drive, current source inverter drive, six step inverter drive, load communicated inverter (LCI) drive, matrix converter (MC) and doubly-fed slip recovery system.

An AC motor can be run at constant speed but if it is required to generate performance at specific speeds then it is required to use a VFD. Certain high performance systems have attributes like their speed may be positive and torque can be in any direction, speed positive and torque changes polarity or both can be in any directions. In some systems torque can be either fixed or variable. In these instances to control the performance of the AC motor the role of a VFD is critical. The induction motor runs at a synchronous speed due to the torque. At higher loads there is a mismatch between synchronous speed and the motor. In this case, motor acts like a generator where electrical power is generated out of mechanical power. An electronic control switch needs to be used in this case to control this dynamic brake. Since this has got high capital ramifications this phenomena must be checked immediately. Voltage source inversion (VSI) drives are known to cause motor cogging. It is a phenomena where, operating at below 6 Hz speed the motor performance is affected. In this case alternative VFDs have to be used.

Key Deliverables in the Study

1.  Market analysis for the global VFD Market, with region specific assessments and competition analysis on global and regional scales

2. Market definition along with the identification of key drivers and restraints

3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale

4. Extensively researched competitive landscape section with profiles of major companies along with their market shares

5. Identification and analysis of the macro and micro factors that affect the global VFD market on both global and regional scales

6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information

7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market

8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

1. Executive Summary

2. Research Approach and Methodology

3. Variable Frequency Drive (VFD) Market Overview

                3.1 Introduction

                3.2 Market Size and Forecast to 2021

                3.3 Recent Developments

                3.4 Government Policies and Regulations

4. Market Dynamics

                4.1 Drivers

                4.2 Constraints

                4.3 Opportunities

5. Supply Chain Analysis

6. Porter's Five Forces Framework

                6.1 Bargaining Power of Suppliers

                6.2 Bargaining Power of Consumers

                6.3 Threat of New Entrants

                6.4 Threat of Substitute Products and Services

                6.5 Competitive Rivalry

7. Variable Frequency Drive (VFD) Market Analysis, by Geography

                7.1 Asia-Pacific 

                                7.1.1 China

                                7.1.2 Japan

                                7.1.3 India

                                7.1.4 South Korea

                                7.1.5 Rest of Asia-Pacific

                7.2 Europe 

                                7.2.1 Germany

                                7.2.2 France

                                7.2.3 Russia

                                7.2.4 U.K.

                                7.2.5 Rest of Europe

                7.3 North America 

                                7.3.1 United States

                                7.3.2 Canada

                                7.3.3 Rest of North America

                7.4 Middle East 

                                7.4.1 Saudi Arabia

                                7.4.2 UAE

                                7.4.3 Qatar

                                7.4.4 Iran

                                7.4.5 Rest of Middle East

                7.5 Africa 

                                7.5.1 Egypt

                                7.5.2 Nigeria

                                7.5.3 South Africa

                                7.5.4 Rest of Africa

                7.6 South America 

                                7.6.1 Brazil

                                7.6.2 Argentina

                                7.6.3 Venezuela

                                7.6.4 Rest of South America

8. Variable Frequency Drive (VFD) Market Analysis, by Geography

                8.1 Pumps 

                8.2 Fans 

                8.3 Compressors 

                8.4 Conveyors 

                8.5 Other Applications

9. Key Company Profiles

                9.1 ABB Ltd. 

                9.2 Crompton Greaves Limited 

                9.3 Danfoss Group 

                9.4 Eaton Corporation Plc. 

                9.5 Emerson Electric Co. 

                9.6 Fuji Electric Co., Ltd.

                9.7 General Electric Company (GE) 

                9.8 Hitachi Ltd. 

                9.9 Honeywell International, Inc. 

                9.10 Mitsubishi Electric Corporation 

                9.11 Rockwell Automation

                9.12 Schneider Electric Co. 

                9.13 Siemens AG 

                9.14 Toshiba International Corporation 

                9.15 Yaskawa Electric Corporation

10. Competitive Landscape

                10.1 Mergers & Acquisitions

                10.2 Joint Ventures, Collaborations and Agreements

                10.3 Market Share Analysis

11. Future Outlook of the Market

12. Appendix

                12.1 Contact Us

                12.2  Disclaimer

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