North America Variable Frequency Drive Market Poised to Rake US$ 7.79 Bn by 2027
Future Market Insights has announced the addition of the “Variable Frequency Drive Market: North America Industry Analysis and Opportunity Assessment 2017-2027" report to their offering.
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<strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> <strong>Market</strong>: <strong>North</strong> <strong>America</strong><br />
Industry Analysis & Opportunity Assessment, 2017-<strong>2027</strong><br />
May 2017<br />
Report Id : REP-NA-3651<br />
Status : May-2017<br />
Category : Industrial Au<strong>to</strong>mation and Equipment<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved
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Research Methodology (1/2)<br />
Systematic Research Approach<br />
<strong>Market</strong> profiling<br />
Formulating discussion guide<br />
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In-depth secondary research is used <strong>to</strong><br />
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<strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> <strong>Market</strong><br />
<strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> <strong>Market</strong> <strong>to</strong> Reach <strong>US$</strong> 7.70 Billion <strong>by</strong> <strong>2027</strong><br />
The <strong>North</strong> <strong>America</strong> variable frequency drive market is projected <strong>to</strong> reach <strong>US$</strong> <strong>7.79</strong> <strong>Bn</strong> in revenues <strong>by</strong><br />
<strong>2027</strong>, according <strong>to</strong> a new research <strong>by</strong> Future <strong>Market</strong> Insights. In terms of volume, 6.25 million units of<br />
variable frequency drivers are expected <strong>to</strong> be sold in <strong>North</strong> <strong>America</strong> in 2017. The U.S. will continue <strong>to</strong><br />
dominate sales, accounting for nearly 78% revenue share of the market.<br />
According <strong>to</strong> Future <strong>Market</strong> Insights, the key fac<strong>to</strong>rs fuelling the growth of the market include,<br />
Increasing emphasis on energy efficiency: Process engineers are adopting energy-saving devices <strong>to</strong><br />
reduce operational expenses. For example, in 2015, Len Busch Roses, one of the largest nurseries for<br />
cut-stem flowers, deployed variable frequency drive <strong>to</strong> regulate airflow in snapdragon greenhouse<br />
with better precision.<br />
Introduction of general purpose variable frequency drives that are compatible with existing mo<strong>to</strong>rs is<br />
reducing impediments <strong>to</strong> widespread adoption.<br />
<strong>Variable</strong> frequency drives are being employed in a wide range of end-use applications. Installation of<br />
variable frequency drives, along with a flow metre, results in energy savings.<br />
Although Future <strong>Market</strong> Insights maintains a positive outlook on the <strong>North</strong> <strong>America</strong> variable frequency<br />
drives market, few challenges can restrain growth. These include technical anomalies associated with<br />
variable frequency drives and high initial costs of medium voltage variable frequency drives.<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved 4
<strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> <strong>Market</strong><br />
AC <strong>Drive</strong> Most Sought-After<br />
By drive type, Future <strong>Market</strong> Insights has segmented the market in<strong>to</strong> AC drive, DC drive, and Servo drive.<br />
Among these, AC drives remain the sought-after device, accounting for nearly 72% revenue share of the<br />
market in 2016. While 4.20 million units of AC drives were sold in <strong>North</strong> <strong>America</strong> in 2016, collective sales of<br />
DC drives and servo drives accounted for 1.64 million units.<br />
Low Voltage Range <strong>Drive</strong>s in Demand<br />
By voltage range, Future <strong>Market</strong> Insights offers market forecast and analysis on low voltage range and<br />
medium voltage range. End-users in <strong>North</strong> <strong>America</strong> prefer low voltage range variable frequency drives, with<br />
this segment accounting for over 80% revenue share in 2016.<br />
Low Demand for Regenerative <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong>s<br />
By application type, Future <strong>Market</strong> Insights has segmented the variable frequency drive market in<strong>to</strong><br />
standard and regenerative. Demand for standard variable frequency drives is higher than regenerative<br />
variable frequency drives. The former accounted for over 88% revenue share of the market in 2016.<br />
The key end-use application segments of variable frequency drives are,<br />
Pump<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved 5
<strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> <strong>Market</strong><br />
Fan<br />
Compressor<br />
Conveyor<br />
HVAC<br />
Other applications<br />
Pumps Largest End-use Application Segment<br />
According <strong>to</strong> Future <strong>Market</strong> Insights, pumps are the largest end-use application segment, accounting for<br />
nearly 35% revenue share of the market in 2016. In 2016, demand for variable frequency drives from this<br />
segment was 1.90 billion units.<br />
Oil & Gas Largest End-use Industry<br />
By end-use industry, Future <strong>Market</strong> Insights offers market forecast and analysis on oil & gas, food<br />
processing, au<strong>to</strong>motive, mining & metals, pulp & papers, and ‘others’. The oil & gas segment accounted<br />
for 44% revenue share of the market in 2016. Future <strong>Market</strong> Insights projects it <strong>to</strong> remain the largest<br />
end-use industry for variable frequency drives during the period 2017-<strong>2027</strong>.<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved 6
<strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> <strong>Market</strong><br />
Key companies profiled <strong>by</strong> Future <strong>Market</strong> Insights in its report include Fuji Electric Co. Ltd., Mitsubishi<br />
Electric Corporation, Siemens AG, ABB Ltd., <strong>America</strong>n Electric Technologies Inc., General Electric<br />
Company, Hitachi Limited, Honeywell International Inc., Rockwell Au<strong>to</strong>mation Inc., Johnson Controls, Inc.,<br />
Emerson Industrial Au<strong>to</strong>mation, Toshiba International Corporation, and Schneider Electric SE.<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved 7
Table of Content<br />
1.<strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> - Executive Summary<br />
2.Research Methodology<br />
3.Assumptions and Acronyms Used<br />
4.<strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Overview<br />
4.1. Introduction<br />
4.1.1. <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Taxonomy<br />
4.1.2. <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Definition<br />
4.2. <strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Size and Forecast<br />
4.2.1. <strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Y-o-Y Growth<br />
4.2.2. <strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Absolute $ Opportunity<br />
4.3. <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Dynamics<br />
4.3.1. <strong>Drive</strong>rs<br />
4.3.2. Restraints<br />
4.3.3. Opportunity<br />
4.4. Value Chain<br />
4.5. <strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Size and Forecast, 2017-<strong>2027</strong><br />
4.5.1. <strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Y-o-Y Growth<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved<br />
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Table of Content<br />
4.5.2. <strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Absolute $ Opportunity<br />
4.6. <strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Trends<br />
4.7. <strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Snapshot (2016)<br />
4.7.1. <strong>Market</strong> Share, By <strong>Drive</strong> Type<br />
4.7.2. <strong>Market</strong> Share, By Voltage Range<br />
4.7.3. <strong>Market</strong> Share, By Application Type<br />
4.7.4. <strong>Market</strong> Share, By End-use Application<br />
4.7.5. <strong>Market</strong> Share, By End-use Industry<br />
4.7.6. <strong>Market</strong> Share, By Country<br />
5.<strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Analysis and Forecast, By Country<br />
5.1. Introduction<br />
5.1.1. Basis Point Share (BPS) Analysis By Country<br />
5.1.2. Y-o-Y Growth Projections By Country<br />
5.2. <strong>Market</strong> Size and Forecast By End-use Industry<br />
5.2.1. U.S<br />
5.2.1.1. Absolute $ Opportunity<br />
5.2.1.2. <strong>Market</strong> Size Forecast By End-use Industry<br />
5.2.2. Canada<br />
5.2.2.1. Absolute $ Opportunity<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved<br />
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Table of Content<br />
5.2.2.2. <strong>Market</strong> Size Forecast By End-use Industry<br />
5.3. <strong>Market</strong> Attractiveness Analysis By Country<br />
5.4. Prominent Trends<br />
6.<strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Analysis and Forecast, By <strong>Drive</strong> Type<br />
6.1. Introduction<br />
6.1.1. Basis Point Share (BPS) Analysis By <strong>Drive</strong> Type<br />
6.1.2. Y-o-Y Growth Projections By <strong>Drive</strong> Type<br />
6.2. <strong>Market</strong> Size and Forecast By <strong>Drive</strong> Type<br />
6.2.1. AC <strong>Drive</strong><br />
6.2.1.1. Absolute $ Opportunity<br />
6.2.1.2. <strong>Market</strong> Size Forecast By <strong>Drive</strong> Type<br />
6.2.2. DC <strong>Drive</strong><br />
6.2.2.1. Absolute $ Opportunity<br />
6.2.2.2. <strong>Market</strong> Size Forecast By <strong>Drive</strong> Type<br />
6.2.3. Servo <strong>Drive</strong><br />
6.2.3.1. Absolute $ Opportunity<br />
6.2.3.2. <strong>Market</strong> Size Forecast By <strong>Drive</strong> Type<br />
6.3. <strong>Market</strong> Attractiveness Analysis By <strong>Drive</strong> Type<br />
6.4. Prominent Trends<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved<br />
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Table of Content<br />
7.<strong>North</strong> <strong>America</strong> <strong>Variable</strong> <strong>Frequency</strong> <strong>Drive</strong> (VFD) <strong>Market</strong> Analysis and Forecast, By Voltage Range<br />
7.1. Introduction<br />
7.1.1. Basis Point Share (BPS) Analysis By Voltage Range<br />
7.1.2. Y-o-Y Growth Projections By Voltage Range<br />
7.2. <strong>Market</strong> Size and Forecast By Voltage Range<br />
7.2.1. Low Voltage Range<br />
7.2.1.1. Absolute $ Opportunity<br />
7.2.1.2. <strong>Market</strong> Size Forecast By Voltage Range<br />
7.2.2. Medium Voltage Range<br />
7.2.2.1. Absolute $ Opportunity<br />
7.2.2.2. <strong>Market</strong> Size Forecast By Voltage Range<br />
7.3. <strong>Market</strong> Attractiveness Analysis By Voltage Range<br />
7.4. Prominent Trends<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved<br />
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