Variable Frequency Drive Market by Type (AC, DC, and Servo), End-Users (Industrial, Infrastructure, Oil & Gas, and Power Generation), Application (Pumps, Fans, Compressors, Conveyors, Extruders), Power Range, Voltage, and Region - Global Forecast to 2021

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Date: 06-Feb-2017
No. of pages: 177
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“The variable frequency drive market is projected to grow at a CAGR of 5.94% from 2016 to 2021”

The variable frequency drive (VFD) market is projected to reach USD 24.8 billion by 2021, at a CAGR of 5.94% from 2016 to 2021. VFD are used in infrastructural activities which include commercial buildings such as hospitals, and educational institutions. Increasing urbanization and industrialization in developing countries such as India, growing need for energy efficiency, reduction in operating costs of any energy intensive industry, regulations on energy efficiency, growing trend of industrial automation, and regulations to ensure efficiency are expected to drive the variable frequency drive market.

“The AC drives segment is expected to grow at the highest CAGR from 2016 to 2021”

Based on segment, AC drives are expected to constitute the fastest growing market from 2016 to 2021. AC drives are witnessing an increase in demand, as they are more efficient, requires less maintenance as compared to dc drives. Therefore, the AC drive segment has higher market share than the DC drive segment.

“Variable frequency drives in the low voltage segment is expected to grow at the fastest CAGR from 2016 to 2021”

With regard to voltage, the low voltage segment is estimated to grow at the fastest CAGR. The demand from industries such as utilities, petrochemicals, water & wastewater, metals & mining, and cement, would drive the low voltage drives market. The low voltage drives are generally employed in applications such as pumps, compressors, conveyors, crushers & mills, fans, and kiln applications.

“Asia-Pacific: The largest market for variable frequency drives”

Asia-Pacific is currently the largest market for VFD, closely followed by Europe. The Asian market is primarily driven by countries such as China, India, Japan, Australia, Indonesia, and South Korea. China is expected to dominate the variable frequency drives market, followed by Japan and India. Urbanization and industrialization will drive the Asia-Pacific market during the forecast period.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:


  • By Company Type: Tier 1- 60%, Tier 2- 27%, Tier 3- 13%

  • By Designation: C-Level- 35%, Manager-Level- 25%, Others- 40%

  • By Region: Americas- 40%, Europe-19%, Asia-Pacific-17%, Middle East- 15%, and Africa- 9%


Note: The tier of the companies has been defined based on their total revenue; as of 2015: Tier 1 = >USD 20 billion, Tier 2 = USD 10 billion to USD 20 billion, and Tier 3 = < USD 10 billion.

The leading players in the variable frequency market include ABB Ltd (Switzerland), Siemens AG (Germany), Schneider Electric (France), Danfoss (Denmark), Rockwell Automation, Inc. (U.S.), and WEG (Brazil).

Research Coverage:

From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the variable frequency drive market; high-growth regions; and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:


  • Market Penetration: Comprehensive information on equipment offered by the top players in the global variable frequency drive market

  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the variable frequency drive market

  • Market Development: Comprehensive information about lucrative emerging markets –the report analyzes the markets for variable frequency drive across regions

  • Market Diversification: Exhaustive information about new products, untapped markets, recent developments, and investments in the global variable frequency drive market

  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global variable frequency drive market

Variable Frequency Drive Market by Type (AC, DC, and Servo), End-Users (Industrial, Infrastructure, Oil & Gas, and Power Generation), Application (Pumps, Fans, Compressors, Conveyors, Extruders), Power Range, Voltage, and Region - Global Forecast to 2021

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities for Variable Frequency Drives
4.2 Variable Frequency Drives Market Share By Voltage, 2016-2021
4.3 AC Drive Segment is Estimated to Dominate Variable Frequency Drives Market By 2021
4.4 Asia-Pacific is Expected to Grow at the Fastest Pace During the Forecast Period
4.5 Low Power Range Segment is Expected to Dominate the Variable Frequency Drives Market
4.6 Compressors By Application Segment is Expected to Dominate the Variale Frequency Drives Market

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Urbanization & Industrialization
5.3.1.2 Rising Need for Energy Efficiency
5.3.1.3 Regulations on Energy Efficiency
5.3.2 Restraints
5.3.2.1 Decrease in Greenfield Investment
5.3.3 Opportunities
5.3.3.1 Huge Opportunity in Replacement Sector
5.3.3.2 Industrial Internet of Things (IIoT)
5.3.4 Challenges
5.3.4.1 Regional Level Competition From Local Players

6 Variable Frequency Drives Market, By Type
6.1 Introduction
6.2 AC Drives
6.3 DC Drives
6.4 Servo Drives

7 Variable Frequecy Drives Market, By Power Range
7.1 Introduction
7.2 Micro Power Drives
7.3 Low Power Drives
7.4 Medium Power Drives
7.5 High Power Drives

8 Variable Frequency Drives Market, By End-User Application
8.1 Introduction
8.2 Manufacturing & Processing
8.3 Infrastructure & Development
8.4 Power Generation
8.5 Oil & Gas

9 Variable Frequency Drives Market, By Application
9.1 Introduction
9.2 Pumps
9.3 Fans
9.4 Compressors
9.5 Conveyors
9.6 Extruders
9.7 Others

10 Variable Frequency Drives Market, By Voltage
10.1 Introduction
10.2 Low Voltage
10.3 Medium Voltage

11 Variable Frequency Drives Market, By Region
11.1 Introduction
11.2 Asia-Pacific
11.2.1 China
11.2.2 Japan
11.2.3 India
11.2.4 South Korea
11.2.5 Australia
11.2.6 Indonesia
11.2.7 Rest of Asia-Pacific
11.3 Europe
11.3.1 Russia
11.3.2 Germany
11.3.3 U.K.
11.3.4 Italy
11.3.5 Spain
11.3.6 France
11.3.7 Rest of Europe
11.4 Middle East
11.4.1 Saudi Arabia
11.4.2 UAE
11.4.3 Qatar
11.4.2 Oman
11.4.3 Kuwait
11.4.5 Rest of Middle East
11.5 South America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Chile
11.5.4 Rest of South America
11.6 North America
11.6.1 U.S.
11.6.2 Mexico
11.6.3 Canada
11.7 Africa
11.7.1 Egypt
11.7.2 Nigeria
11.7.3 South Africa
11.7.4 Rest of South Africa

12 Competitive Landscape
12.1 Overview
12.2 Competitive Situation & Trends
12.3 Market Share Analysis, Gas Insulated Switchgear Market (By Key Players)
12.4 Contracts & Agreements
12.5 Expansions & Investments
12.6 New Product Launches
12.7 Partnerships, Joint Ventures, Collaborations
12.8 Other Developments

13 Company Profiles
13.1 Introduction
13.2 ABB Ltd.
13.2.1 Business Overview
13.2.2 Products & Services Offered
13.2.3 Recent Developments, 2013-2016
13.2.4 SWOT Analysis
13.2.5 MnM View
13.3 Siemens AG
13.3.1 Business Overview
13.3.2 Products & Services Offered
13.3.3 Recent Developments, 2013-2016
13.3.4 SWOT Analysis
13.3.5 MnM View
13.4 Schneider Electric Se
13.4.1 Business Overview
13.4.2 Products & Services Offered
13.4.3 Recent Developments, 2013-2016
13.4.4 SWOT Analysis
13.4.5 MnM View
13.5 Danfoss
13.5.1 Business Overview
13.5.2 Products Offered
13.5.3 Recent Developments, 2013-2016
13.5.4 SWOT Analysis
13.5.5 MnM View
13.6 Rockwell Automation
13.6.1 Business Overview
13.6.2 Products & Services Offered
13.6.3 Recent Developments, 2013-2016
13.6.4 SWOT Analysis
13.6.5 MnM View
13.7 WEG SA
13.7.1 Business Overview
13.7.2 Products & Services Offered
13.7.3 Recent Developments, 2013-2016
13.8 Yaskawa Electric Corporation
13.8.1 Business Overview
13.8.2 Products & Services Offered
12.8.3 Recent Developments, 2013-2016
13.9 Eaton Corporation
13.9.1 Business Overview
13.9.2 Products & Services Offered
13.9.3 Recent Developments, 2013-2015
13.10 General Electric
13.10.1 Business Overview
13.10.2 Products & Services Offered
13.10.3 Recent Developments, 2013-2016
13.11 Emerson Electric Co.
13.11.1 Business Overview
13.11.2 Products & Services Offered
13.11.3 Recent Developments, 2013-2016
13.12 Hitachi Limited
13.12.1 Business Overview
13.12.2 Products & Services Offered
13.12.3 Recent Developments, 2013-2016
13.13 Crompton Greaves
13.13.1 Business Overview
13.13.2 Products & Services Offered
13.13.3 Recent Developments, 2013-2016
13.14 Mitsubishi Heavy Industries, Ltd..
13.14.1 Business Overview
13.14.2 Products & Services Offered
13.14.3 Recent Developments, 2013-2016
13.15 Fuji Electric Co.
13.15.1 Business Overview
13.15.2 Products & Services Offered
13.15.3 Recent Developments, 2013-2016
13.16 Toshiba Corporation.
13.16.1 Business Overview
13.16.2 Products & Services Offered
13.16.3 Recent Developments, 2013-2016

14 Appendix
12.1 Insights of Industry Experts
12.2 Other Developments
12.3 Discussion Guide
12.4 Introducing RT: Real Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports

List of Tables

Table 1 Variable Frequency Drives Market Size, By Power Range, 2014–2021 (USD Million)
Table 2 Micro Power: VFD Market Size, By Region, 2014–2021 (USD Million)
Table 3 Low Power: VFD Market Size, By Region, 2014–2021 (USD Million)
Table 4 Medium Power: Variable Frequency Drive Market Size, By Region, 2014–2021 (USD Million)
Table 5 High Power: Variable Frequency Drive Market Size, By Region, 2014–2021 (USD Million)
Table 6 Variable Frequency Drive Market Size, By Application, 2014–2021 (USD Million)
Table 7 Pumps: VFD Market Size, By Region, 2014–2021 (USD Million)
Table 8 Fans: VFD Market Size, By Region, 2014–2021 (USD Million)
Table 9 Compressors: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 10 Conveyors: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 11 Extruders: VFD Market Size, By Region, 2014–2021 (USD Million)
Table 12 Others: VFD Market Size, By Region, 2014–2020 (USD Million)
Table 13 Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 14 Low Voltage: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 15 Medium Voltage Variable Frequency Drives Used By Different End-Use Industries
Table 16 Medium Voltage: Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 17 Variable Frequency Drives Market Size, By Region, 2014–2021 (USD Million)
Table 18 Asia-Pacific: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 19 Asia-Pacific: By Market Size, By Application, 2014–2021 (USD Million)
Table 20 Asia-Pacific: By Market Size, By Power Range, 2014–2021 (USD Million)
Table 21 Asia-Pacific: By Market Size, By Country, 2014–2021 (USD Million)
Table 22 China: VFD Market Size, By Voltage, 2014–2021 (USD Million)
Table 23 Japan: VFD Market Size, By Voltage, 2014–2021 (USD Million)
Table 24 India: VFD Market Size, By Voltage, 2014–2021 (USD Million)
Table 25 South Korea: VFD Market Size, By Voltage, 2014–2021 (USD Million)
Table 26 Australia: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 27 Indonesia: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 28 Rest of Asia-Pacific: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 29 Europe: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 30 Europe: By Market Size, By Application, 2014–2021 (USD Million)
Table 31 Europe: By Market Size, By Power Range, 2014–2021 (USD Million)
Table 32 Europe: By Market Size, By Country, 2014–2021 (USD Million)
Table 33 Germany: VFD Market Size, By Voltage, 2014–2021 (USD Million)
Table 34 France: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 35 Russia: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 36 U.K.: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 37 Italy: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 38 Spain: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 39 Rest of Europe: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 40 North America: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 41 North America: VFD Market Size, By Application, 2014–2021 (USD Million)
Table 42 North America: VFD Market Size, By Power Range, 2014–2021 (USD Million)
Table 43 North America: By Market Size, By Country, 2014–2021 (USD Million)
Table 44 U.S.: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 45 Canada: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 46 Mexico: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 47 Middle East: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 48 Middle East: By Market Size, By Application, 2014–2021 (USD Million)
Table 49 Middle East: By Market Size, By Power Range, 2014–2021 (USD Million)
Table 50 Middle East: By Market Size, By Country, 2014–2021 (USD Million)
Table 51 Saudi Arabia: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 52 UAE: VFD Market Size, By Voltage, 2014–2021 (USD Million)
Table 53 Qatar: VFD Market Size, By Voltage, 2014–2021 (USD Million)
Table 54 Oman: VFD Market Size, By Voltage, 2014–2021 (USD Million)
Table 55 Kuwait: VFD Market Size, By Voltage, 2014–2021 (USD Million)
Table 56 Rest of Middle East: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 57 Africa: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 58 Africa: VFD Market Size, By Application, 2014–2021 (USD Million)
Table 59 Africa: VFD Market Size, By Power Range, 2014–2021 (USD Million)
Table 60 Africa: VFD Market Size, By Country, 2014–2021 (USD Million)
Table 61 Egypt: VFD Market Size, By Voltage, 2014–2021 (USD Million)
Table 62 Nigeria: VFD Market Size, By Voltage, 2014–2021 (USD Million)
Table 63 South Africa: Variable Frequency Drive Market Size, By Voltage, 2014–2021 (USD Million)
Table 64 Rest of Africa: By Market Size, By Voltage, 2014–2021 (USD Million)
Table 65 South America: By Market Size, By Voltage, 2014–2021 (USD Million)
Table 66 South America: By Market Size, By Application, 2014–2021 (USD Million)
Table 67 South America: By Market Size, By Power Range, 2014–2021 (USD Million)
Table 68 South America: By Market Size, By Country, 2014–2021 (USD Million)
Table 69 Brazil: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 70 Argentina: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 71 Chile: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 72 Rest of South America: Variable Frequency Drives Market Size, By Voltage, 2014–2021 (USD Million)
Table 73 New Product Development & Expansion, 2015–2016
Table 74 Partnerships/Agreements/Collaborations, 2015–2016
Table 75 Mergers & Acquisitions, 2013–2015
Table 76 Other Developments, 2014–2015

List of Figures

Figure 1 Markets Covered: Variable Frequency Drives Market
Figure 2 Variable Frequency Drives Market: Research Design
Figure 3 Break Down of Primary Interviews: By Company Type, Designation, & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Market Estimation Approach & Data Triangulation Methodology
Figure 7 Asia-Pacific Occupied the Largest Market Share (Value) in 2015
Figure 8 Variable Frequency Drives Market Share (Value), By Voltage, 2015
Figure 9 Pumps Segment is Estimated to Be the Largest Application in 2016 & is Projected to Remain So By 2020
Figure 10 Variable Frequency Drives Market Snapshot: Asia-Pacific is Expected to Exhibit the Highest Growth Rate in the Next 5 Years
Figure 11 Variable Frequency Drives Market Share (Value), By Power Range, 2016 & 2021
Figure 12 Increasing Urbanization, Industrialization, and Need for Energy Saving are Expected to Drive the Demand for Variable Frequency Drives During the Forecast Period
Figure 13 Asia-Pacific and the Middle East & Africa are Expected to Grow at A Fast Pace During the Forecast Period
Figure 14 Pumps Application is Expected to Hold the Largest Market Share During the Forecast Period
Figure 15 The Chinese Variable Frequency Drives Market is Projected to Hold the Largest Share in Asia-Pacific During the Forecast Period
Figure 16 Low Voltage Segment Accounted for the Largest Market Share in 2015
Figure 17 The Asia-Pacific Market is Expected to Grow at the Highest Rate During the Forecast Period
Figure 18 Variable Frequency Drives Market Segmentation: By Voltage, Application, Power Range, & Region
Figure 19 Market Dynamics for Variable Frequency Drives Market
Figure 20 Urbanization Trend
Figure 21 Supply Chain Analysis: Major Value is Added During the Manufacturing & Assembly Phase
Figure 22 Porter’s Five Forces Analysis: Variable Frequency Drives Market
Figure 23 Low Power Variable Frequency Drives Held the Largest Market Share (Value) in 2015
Figure 24 Asia-Pacific is Expected to Be the Fastest Growing Region in the Micro Power VFD Market During the Forecast Period
Figure 25 Asia-Pacific is Expected to Be the Fastest Growing Region in the Low Power VFD Market During the Forecast Period
Figure 26 Medium Power Variable Frequency Drives Market Share (Value), By Region, 2015
Figure 27 High Power Variable Frequency Drives Market Share (Value), By Region, 2014
Figure 28 Global Snapshot: Pumps Application is Expected to Dominate the VFD Market During the Forecast Period
Figure 29 Low Voltage Variable Frequency Drives Held the Largest Market Share in 2015
Figure 30 Medium Voltage Variable Frequency Drives are Expected to Grow at the Highest CAGR During the Forecast Period
Figure 31 Variable Frequency Drives Market Share (Value), By Region, 2015
Figure 32 Regional Snapshot: Growth Rate of Variable Frequency Drives Market in Major Countries, 2016–2021
Figure 33 Asia-Pacific Variable Frequency Drives: an Overview
Figure 34 Europe Variable Frequency Drives Market: an Overview
Figure 35 Companies Adopted New Product Development & Expansion as the Key Growth Strategy in the Past 3 Years to Grasp the Market
Figure 36 Market Evaluation Framework: Partnerships/Agreements/Collaborations, New Product Developments, Mergers & Acquisitions Have Fueled the Growth of Companies During 2011–2016
Figure 37 Geographic Revenue Mix of Top Five Players
Figure 38 ABB: Company Snapshot
Figure 39 SWOT Analysis: ABB Ltd.
Figure 40 GE: Company Snapshot
Figure 41 SWOT Analysis: GE
Figure 42 Schneider: Company Snapshot
Figure 43 SWOT Analysis: Schneider Electric
Figure 44 Siemens: Company Snapshot
Figure 45 SWOT Analysis: Siemens
Figure 46 Emerson: Company Snapshot
Figure 47 SWOT Analysis: Emerson
Figure 48 Eaton: Company Snapshot
Figure 49 Crompton Greaves: Company Snapshot
Figure 50 Hitachi Ltd.: Company Snapshot
Figure 51 Danfoss: Company Snapshot
Figure 52 Mitsubishi Electric Corporation: Company Snapshot
Figure 53 Honeywell International, Inc.: Company Snapshot
Figure 54 Rockwell Automation: Company Snapshot

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