Variable Frequency Drive (VFD) Market .pdf
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Variable Frequency Drive (VFD) Market -Analysis, Trends And
Forecasts, 2016 To 2024: Global Market Insights, Inc.
The global Variable Frequency Drive Market size anticipated to witness significant
growth owing to technological advancements that minimize energy consumption
through the deployment of sustainable systems.
Regulators across the globe have developed numerous standards to encourage the
effective deployment of energy efficient system. In April 2014, the U.S. Department
of Energy (DOE) set the efficiency standards for HVAC systems under which heat
pumps and air conditioners installed on or after January 2015, should adhere
Seasonal Energy Efficiency Ratio (SEER) standards.
Stringent government directives to reduce greenhouse gas emissions will positively
impact the business outlook of the global variable frequency drive (VFD) market by
2024. In 2014, the European Union has developed 2003/87/EC directive with an aim
to curb emissions by 20% by 2020. The Government of Australia has also prepared
numerous direct action plans towards the reduction of emission. Increasing oil and
gas drilling activities across deep and ultradeep sea platforms will further augment
the business outlook.
The demand for the optimum utilization of energy for effectively running operations
across electricity generating stations will further complement the global (variable
frequency drive) VFD market. Rising investments towards the deployment of new
electricity generating stations to cater to the growing demand will enhance the
Based on the current rating, the global variable frequency drive market can be
segmented into AC, DC, and servo drives. AC drives are witnessing a significant
growth owing to its high efficiency and low maintenance costs. DC drives may
witness a substantial growth due to its higher acceleration & torque, low cost, and
On the basis of voltage rating, the global variable frequency drive market has been
sectioned into low voltage and medium voltage. Low voltage range VFDs account for
a higher market share due to its compact design and high acceptance across
petrochemicals, metals & mining, utilities, and cement industries.
Multi Pad Drilling Market, By Region
The U.S. VFD market share is anticipated to witness an extensive growth owing to
positive outlook towards chemical industries. In April 2016, American Chemistry
Council declared that the investment in chemical industry reached USD 164 billion.
The China variable frequency drive market is anticipated witness extensive growth
opportunities owing to increasing investment in new electricity generating plants. In
November 2015, the country decided to construct more than 150 coal-fired power
plants, which will increase its capacity to 123 GW.
Major Players In The Global VFD Market
include Honeywell International
American Electric Technologies,
Emerson Industrial Automation
Mitsubishi Electric Corporation.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for
key industries such as chemicals, advanced materials, technology, renewable
energy and biotechnology.
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