With the increase in energy prices,
companies are looking for a technology that can reduce the energy cost by
providing higher level of efficiencies. Adjustable frequency drives or the
variable frequency drives provide an easy method of reducing your energy cost
by controlling the speed of a motor connected to the motor driven equipment. In
industries, electric motor systems are responsible for the majority of power
consumption and using a variable frequency drive to control the motor speed
resulting lower power consumptions can prove to be beneficial for the
industry.
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Moreover, government support through
efficiency tax incentive and utility rebates can further boost the variable
frequency drives market in the near future. Increasing level of
industrialization especially in the emerging economies such as India and China
can spur the growth of the variable frequency drives market.
The segmentation of the variable
frequency drives market can be done on the basis of technology, voltage
ratings, applications and geography. On the basis of technology the Variable
frequency drive can be classified into PWM (Pulse Width Modulated), Current
Source Inversion (CSI) and Voltage Source Inversion drives. Pulse Width
Modulated drives are the most commonly used type of variable frequency drives.
These types of variable frequency drives are known for their excellent input
power factor, lower cost and higher efficiencies. Current source inversion
drives are used in the industrial applications for the purpose of signal
processing. These types of variable frequency drives are known for their
regenerative power capabilities. Voltage source inversion drives are less
common due to their low efficiencies and non regenerative nature. According to
the voltage ratings the variable frequency drives can be classified into low
voltage and medium voltage frequency drives. Low voltage variable frequency
drives are designed to work at the output voltage of less than 690 volts. The
medium voltage drives are the most common type of variable frequency
drive.
The power rating for a medium
voltage drive can reach 100 MW. Variable frequency drives are mostly used in
fans, conveyors, elevators and compressors.
Rapid industrial growth in the Asia
Pacific region driven by the surge in the manufacturing activities in India,
China and Japan can drive the variable frequency drives market in these
regions. Developed countries such as the United States in North America and
Germany, France and the United Kingdom in Europe can also drive the variable
frequency drive market owing to the lucrative efficiency tax incentives and
utility rebates given by the governments. The rest of the World segment
includes the countries from Middle East and Africa region. Lower level of
industrial growth especially in the African continent is expected to acquire a
small portion of the total demand for variable frequency drives.
Increasing industrialization,
increasing prices of electricity, supportive government policies providing tax
incentives can act as the driver for variable frequency drives market.
High prices of the variable frequency drives can prove to be a restraint
to the variable frequency drive market. Advancement in technologies leading to
the development of variable frequency drives resulting in higher level of power
consumption can act as the opportunity for the variable frequency drive market
in the near future.
Some of the key players in the
variable frequency drive market include companies such as Eaton, Curtiss-Wright
Corporation, NovaTorque, Inc., Yaskawa America, Inc. and LSIS Co. Ltd.
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This research report analyzes this
market on the basis of its market segments, major geographies, and current
market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis and
detailed profiles of top industry players. The report also includes a review of
micro and macro factors essential for the existing market players and new
entrants along with detailed value chain analysis.
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