Rising urbanisation and industrialization in emerging markets such as India, China, Brazil, and others drive the variable speed drive market. Furthermore, the growing demand for energy efficiency, the rise in industrial automation, and the reduction in operating costs of any intensive industry drive market growth. However, the high cost of deployment is expected to limit market growth.
Variable frequency drives (VFDs) are becoming more popular in the industrial and infrastructure sectors. Cement, chemical, petrochemical, mining, oil & gas, pulp & paper, and water & wastewater treatment are among the major industries that use variable frequency drives. Conveyors, fans, utility pumps, process pumps, fans, blowers, air compressors, process compressors, coolers, cooling tower fans, grinders, crushers, and chippers all use variable frequency drives.
The global variable frequency drive market is facing significant challenges due to the high initial cost of variable speed drives and the economic slowdown. The industrial and commercial sectors experienced slow growth as a result of the economic slowdown, lowering demand for variable frequency drives. Furthermore, covid-19 caused a disruption in the raw material supply chain, affecting product availability. Furthermore, a lack of skilled labour and high maintenance costs are expected to stymie global market growth.
In 2021, the AC drives segment accounted for more than 68 percent of total revenue. This growth can be attributed to the advantages of AC drives, such as their high power, ease of installation compared to others, and low maintenance. These advantages are enticing end-users in industries such as food and beverage, automotive, and power generation to improve operational efficiency. As a result of the rapid growth in the industrial sector, there is a high demand for AC drives, which is expected to support segment growth.
The variable speed drive market is divided into five categories: type, voltage, application, end user, and region. The market is divided into three types: AC drive, DC drive, and servo drive. The market is divided into two sections based on voltage type: low voltage and medium voltage. The market is divided into compressors, pumps, fans, and others based on application. The market is divided into end users such as automotive, electronic, oil and gas, power generation, and others. The market is divided into four regions: North America, Europe, Asia-Pacific, and Latin America and the Caribbean.
A variable frequency drive (VFD) is a type of motor controller that regulates the frequency and voltage of the power supply to an electric motor. The VFD can also control the ramp-up and ramp-down of the motor during start and stop. VFD is also known as variable frequency drive, adjustable speed drive, inverter AC drive, and Microdrive. VFDs are most commonly used to control fans, pumps, and compressors, accounting for 75 percent of all drives in use globally. They are commonly used in the HVAC industry.
The market outlook section of the report focuses on the fundamental dynamics of the market, such as the industry’s drivers, restraints, opportunities, and challenges. Drivers and restraints are intrinsic market factors, whereas opportunities and challenges are extrinsic. The Variable Frequency Drive Market is expected to be driven by an increase in demand for energy-efficient solutions across various industries such as cement, pulp and paper, chemical, waste & wastewater. Compressors, fans, pumps, and conveyors are just a few examples of VFD applications. VFDs have more functionality and operation capabilities than traditional motor drives.
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Key players in the Variable-speed Pump Market
Zodiac Pool Systems LLC
on the basis of types, the Variable-speed Pump market
Less than 1 HP
1.0 to 2.5 HP
2.5 to 3.5 HP
More than 3.5 HP
on the basis of applications, the Variable-speed Pump market
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