Variable Frequency Drives Market is Anticipated to Exceed USD 31.0 billion by 2024

New York, April 16, 2019: The variable frequency drives market is expected to exceed more than USD 31.0 billion by 2024; Growing at a CAGR of around 8% in the given forecast period.

A variable frequency drive is also called as adjustable speed drive, AC drive, inverter, micro drive, adjustable frequency drive or variable speed drive. It is used to drives an electrical motors having changeable voltage and frequency; it is a type of motor controller and the frequency is directly linked with speed of motor. VFD controls the speed of motor, so it minimize the overall power utilization. Because of this benefit VFD reduces overall energy costs with higher efficiency. Compared to other motor controllers, installation of variable frequency drives become easier And training for installing of VFD will also minimize.variable frequency drive vfd inverter
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include ABB Ltd., Siemens AG, Schneider Electric Industries S.A.S., Crompton Greaves Ltd., Danfoss VLT Drives, Eaton Corporation, Emerson Industrial Automation, Fuji Electric Co., Ltd., Mitsubishi Electric Corporation and Vacon PLC.. Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.

The scope of the report includes a detailed study of global and regional markets for various types of coatings with the reasons given for variations in the growth of the industry in certain regions.The Variable Frequency Drives Market is segmented on the Basis of Application Analysis, Type Analysis, End-user Analysis, Voltage range segment Analysis, Power range Analysis and Regional Analysis. By Application Analysis this market is segmented on the basis of Pumps, Fans, Compressors, Conveyors, Extruders and Other Applications.

By Type Analysis this market is segmented on the basis of AC Voltage, DC Voltage and Servo Voltage. By End-user Analysis this market is segmented on the basis of Manufacturing sector, Chemical processing sector, Oil and Gas sector, Automation sector, Industrial development sector and Others. By Voltage range segment Analysis this market is segmented on the basis of Low voltage and Medium voltage. By Power range Analysis this market is segmented on the basis of Micro Power Drives, Low Power Drives, Medium Power Drives and High Power Drives. By Regional Analysis this market is segmented on the basis of North America, Europe, Asia-Pacific and Rest of the World.

The variable frequency drives market is segmented on the lines of its type, end user, voltage range, power range and application. Under type segmentation it covers AC voltage, DC voltage and servo voltage. Based on end user segmentation it covers manufacturing, chemical processing, oil and gas, automation and industrial development. The variable frequency drives market is segmented on the lines of its voltage range like low voltage and medium voltage. Under power range it covers micro power drives, low power drives, medium power drives and high power drives.