Variable Frequency Drive Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Variable Frequency Drive Market By Type (AC Drive, DC Drive, and Servo Drive), Voltage Type (Low Voltage, and Medium Voltage), Power Rating (Micro Power Drive, Low Power Drive, Medium Power Drive, and High Power Drive), Application Type (Pumps, Conveyors, Fans, Compressors, and Others), and Geography

 

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Report

Description

Variable Frequency Drive Market size is expected to be valued at USD 25.3 billion in 2022 and is poised to grow at a significant CAGR of 5.8% over 2022–2028. A variable frequency drive (VFD) is a kind of motor controller that regulates the frequency and voltage of an electric motor’s power supply. The VFD can also control the motor’s ramp-up and ramp-down throughout the start and stop, separately. It is also known as adjustable speed drive, variable speed drive, adjustable frequency drive, inverter AC drive, and Microdrive. It has extensive applications in various sectors such as oil & gas, power generation, infrastructure, mining, and cement industries. These extensive applications, and has many benefits of VFD, are some major factors that are primarily driving the growth of the global variable frequency market.  Additionally, it has also found applications in many devices to control its functions such as control fans, pumps, and compressors. These applications account for 75% of all drives in use across the globe which undoubtedly supports the expansion of the variable frequency drive market. variable frequency drive market is hampered by the stagnant growth of oil & gas pumps industries and a decrease in exploration and production activities. As oil & gas is one of the foremost end-user industries of variable frequency drives. Moreover, continuous fluctuations in oil and natural gas prices directly impact the market of variable frequency drives. Moreover, the growth of the variable frequency drives market is directly affected by the decline in capital expenditures by oilfield operators and service providers. Thus, stringent government regulations associated with greenhouse gases, climate change, and alternative energy sources may also hinder the growth of the establishments engaged in oil and natural gas exploration and production activities and negatively impact the demand for variable frequency drives. The COVID-19 pandemic also had a negative impact on the variable frequency drive market, due to disruption in the supply chain of raw and finished products.  The post-Pandemic situation is ready to rise energy demand across the globe, and make huge investments in various sectors that ultimately increase the demand for variable frequency drive over the forecasted period

Key Developments:

In July 2021, ABB’s medium voltage drives provide energy-efficient pumping in a major desalination plant, saline water conversion corporation ‘s (SWCC) water treatment plant based in Jubail, Saudi Arabia. The plant working with ABB‘s digitally enabled ACS2000 medium voltage variable speed drives (VSD) to reduce energy consumption.

In December 2020, Rockwell Automation expanded its Kinetix 5100 Servo Drive to 480V available for usage in extensive applications such as packaging, converting print, machine and assembly, and life sciences.

In June 2021, Eaton launched the PowerXL DM1 micro variable frequency for industrial and commercial sectors.

Variable Frequency Drive Market

MARKET SUMMARY
-
5.8%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 5.8%
  • Largest Market– North America
  • Fastest Growing Market– Europe

Variable Frequency Drive Market

  • The variable frequency drive market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The variable frequency drive market is segmented based on type, voltage type, power rating, application and geography.
Key Players
  • ABB (Switzerland)
  • Siemens (Germany)
  • Danfoss (Denmark)
  • Schneider Electric (France)
  • Rockwell Automation (US)
Variable Frequency Drive Market Dynamics

The variable frequency drive market is growing due to rising applications in various sectors such as industrial and infrastructure sectors. Many industries that use variable frequency drives are cement, petrochemical, chemical, mining, oil & gas, pulp & paper, and water & wastewater treatment. Nowadays, the cement and manufacturing industries are rising globally such as in China, India, the US, Brazil, Russia, Iran, Indonesia, Egypt, Saudi Arabia, and Turkey. The rising infrastructure projects in these countries offer lucrative opportunities for key players in the market. India, cement demand is expected to increase by an estimated 45 million tons in the coming next 3–4 years. By 2025, it is expected to reach 550–600 million tons Per annum (MTPA).


Asia-Pacific Got Significant Share

Variable Frequency Drive Market

The Variable Frequency Drive market in the Asia Pacific is likely to hold a significant revenue share in 2021 and is expected to dominate the market over the forecasted period, owing to rapid industrialization in emerging economies. Furthermore, favorable business policies by the governmental bodies and rising construction activities are some other factors by which expected to propel the regional market growth. Additionally, the rising energy demand is anticipated to increase the adoption of VFD from energy manufacturers, these factors are further expected to support the expansion of the market globally.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Variable Frequency Drive Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The variable frequency drive market is projected to expand at a CAGR of 5.8% during the forecast period

ABB (Switzerland), Siemens (Germany), Danfoss (Denmark), Schneider Electric (France), Rockwell Automation (US), Fuji Electric (Japan), TMEIC (Japan), Delta Electronics (Taiwan), Sew-Eurodrive (Germany), Parker Hannifin (US), Inovance Technology (China), Shenzhen Gozuk (China), General Electric (US)

 

Asia-Pacific is the fastest-growing region for variable frequency drive market


Report

Table Of Content

1. Executive Summary
2. Global Variable Frequency Drive Market Introduction
2.1. Global Variable Frequency Drive Market – Taxonomy
2.2. Global Variable Frequency Drive Market –Definitions
2.2.1. Type
2.2.2. Voltage Type
2.2.3. Power Rating
2.2.4. Application
3. Global Variable Frequency Drive Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Variable Frequency Drive Market Dynamic Factors – Impact Analysis
3.6. Global Variable Frequency Drive Market – Competition Landscape
4. Global Variable Frequency Drive Market Analysis,2017 – 2021 and Forecast, 2022 – 2028
4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Variable Frequency Drive Market, By Type, 2017–2021and Forecast, 2022–2028 (Revenue, USD Mn)
5.1. AC Drive
5.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. DC Drive
5.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Servo Drive
5.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
5.4. Others
5.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.4.3. Market Opportunity Analysis
6. Global Variable Frequency Drive Market, By Voltage Type, 2017–2021and Forecast, 2022–2028 (Revenue, USD Mn)
6.1. Low Voltage
6.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Medium Voltage
6.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
7. Global Variable Frequency Drive Market, By Power rating, 2017–2021and Forecast, 2022–2028 (Revenue, USD Mn)
7.1. Micro Power Drive
7.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Low Power Drive
7.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Medium Power Drive
7.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. High Power Drive
7.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
8. Global Variable Frequency Drive Market, By Application, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.1. Pumps
8.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Conveyors
8.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Fans
8.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Compressors
8.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Others
8.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
9. Global Variable Frequency Drive Market Forecast, By Region, 2017–2021and Forecast, 2022–2028(Revenue, USD Mn)
9.1. North America
9.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Variable Frequency Drive Market – Opportunity Analysis Index, By Type, Voltage Type, Power Rating, Application, and Region, 2022 – 2028
10. North America Variable Frequency Drive market analysis,2017–2021and Forecast, 2022–2028(Revenue, USD Mn)
10.1. Type Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. AC Drive
10.1.2. DC Drive
10.1.3. Servo Drive
10.2. Voltage Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Low Voltage
10.2.2. Medium Voltage
10.3. Power Rating Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Micro Power Drive
10.3.2. Low Power Drive
10.3.3. Medium Power Drive
10.3.4. High Power Drive
10.4. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.4.1. Pumps
10.4.2. Conveyors
10.4.3. Fans
10.4.4. Compressors
10.4.5. Others
10.5. Country Analysis 2017 – 2021 and Forecast 2022 – 2028by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.5.1. USA
10.5.2. Canada
10.6. North America Variable Frequency Drive Market – Opportunity Analysis Index, By Type, Voltage Type, Power Rating, Application, and Country, 2022 – 2028
10.7. North America Variable Frequency Drive Market Dynamics – Trends
11. Europe Variable Frequency Drive Market Analysis, 2017–2021and Forecast, 2022–2028(Revenue, USD Mn)
11.1. Type Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. AC Drive
11.1.2. DC Drive
11.1.3. Servo Drive
11.2. Voltage Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Low Voltage
11.2.2. Medium Voltage
11.3. Power Rating Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Micro Power Drive
11.3.2. Low Power Drive
11.3.3. Medium Power Drive
11.3.4. High Power Drive
11.4. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.4.1. Pumps
11.4.2. Conveyors
11.4.3. Fans
11.4.4. Compressors
11.4.5. Others
11.5. Country Analysis 2017–2021and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Russia
11.5.7. Poland
11.5.8. Rest of Europe
11.6. Europe Variable Frequency Drive Market – Opportunity Analysis Index, By Type, Voltage Type, Power Rating, Application, and Country, 2022 – 2028
11.7. Europe Variable Frequency Drive Market Dynamics – Trends
12. Asia-Pacific Variable Frequency Drive Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
12.1. Type Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. AC Drive
12.1.2. DC Drive
12.1.3. Servo Drive
12.2. Voltage Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Low Voltage
12.2.2. Medium Voltage
12.3. Power Rating Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Micro Power Drive
12.3.2. Low Power Drive
12.3.3. Medium Power Drive
12.3.4. High Power Drive
12.4. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.4.1. Pumps
12.4.2. Conveyors
12.4.3. Fans
12.4.4. Compressors
12.4.5. Others
12.5. Country Analysis2017–2021and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.5.1. Japan
12.5.2. China
12.5.3. India
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Variable Frequency Drive Market – Opportunity Analysis Index, By Type, Voltage Type, Power Rating, Application, and Country,2022 – 2028
12.7. Asia-Pacific Variable Frequency Drive Market Dynamics – Trends
13. Latin America Variable Frequency Drive Market Analysis,2017 – 2021 and Forecast, 2022–2028(Revenue, USD Mn)
13.1. Type Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. AC Drive
13.1.2. DC Drive
13.1.3. Servo Drive
13.2. Voltage Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Low Voltage
13.2.2. Medium Voltage
13.3. Power Rating Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Micro Power Drive
13.3.2. Low Power Drive
13.3.3. Medium Power Drive
13.3.4. High Power Drive
13.4. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.4.1. Pumps
13.4.2. Conveyors
13.4.3. Fans
13.4.4. Compressors
13.4.5. Others
13.5. Country Analysis 2017–2021and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Argentina
13.5.4. Rest of Latin America
13.6. Latin America Variable Frequency Drive Market – Opportunity Analysis Index, By Type, Voltage Type, Power Rating, Application, and Country, 2022 – 2028
13.7. Latin America Variable Frequency Drive Market Dynamics – Trends
14. Middle East and Africa Variable Frequency Drive Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
14.1. Type Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.1.1. AC Drive
14.1.2. DC Drive
14.1.3. Servo Drive
14.2. Voltage Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.2.1. Low Voltage
14.2.2. Medium Voltage
14.3. Power Rating Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.3.1. Micro Power Drive
14.3.2. Low Power Drive
14.3.3. Medium Power Drive
14.3.4. High Power Drive
14.4. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.4.1. Pumps
14.4.2. Conveyors
14.4.3. Fans
14.4.4. Compressors
14.4.5. Others
14.5. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. Israel
14.5.3. South Africa
14.5.4. Rest of MEA
14.6. MEA Variable Frequency Drive Market – Opportunity Analysis Index, By Type, Voltage Type, Power Rating, Application, and Country, 2022 – 2028
14.7. MEA Variable Frequency Drive Market Dynamics – Trends
15. Competition Landscape
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, Product Type& Service Testing Types, Key Developments, Strategies, and SWOT Analysis)
15.2.1. ABB (Switzerland)
15.2.2.  Siemens (Germany)
15.2.3.  Danfoss (Denmark)
15.2.4.  Schneider Electric (France)
15.2.5. Rockwell Automation (US)
15.2.6.  Fuji Electric (Japan)
15.2.7. TMEIC (Japan)
15.2.8.  Delta Electronics (Taiwan)
15.2.9.  Sew-Eurodrive (Germany)
15.2.10.  Parker Hannifin (US)
15.2.11.  Inovance Technology (China)
15.2.12.  Shenzhen Gozuk (China)
15.2.13.  General Electric (US)
15.2.14.  Eaton (Ireland)
16. Research Methodology
17. Key Assumptions and Acronyms

Report

Company Profile

  • ABB (Switzerland)
  • Siemens (Germany)
  • Danfoss (Denmark)
  • Schneider Electric (France)
  • Rockwell Automation (US)
  • Fuji Electric (Japan)
  • TMEIC (Japan)
  • Delta Electronics (Taiwan)
  • Sew-Eurodrive (Germany)
  • Parker Hannifin (US)
  • Inovance Technology (China)
  • Shenzhen Gozuk (China)
  • General Electric (US)

Description

Variable Frequency Drive Market size is expected to be valued at USD 25.3 billion in 2022 and is poised to grow at a significant CAGR of 5.8% over 2022–2028. A variable frequency drive (VFD) is a kind of motor controller that regulates the frequency and voltage of an electric motor’s power supply. The VFD can also control the motor’s ramp-up and ramp-down throughout the start and stop, separately. It is also known as adjustable speed drive, variable speed drive, adjustable frequency drive, inverter AC drive, and Microdrive. It has extensive applications in various sectors such as oil & gas, power generation, infrastructure, mining, and cement industries. These extensive applications, and has many benefits of VFD, are some major factors that are primarily driving the growth of the global variable frequency market.  Additionally, it has also found applications in many devices to control its functions such as control fans, pumps, and compressors. These applications account for 75% of all drives in use across the globe which undoubtedly supports the expansion of the variable frequency drive market. variable frequency drive market is hampered by the stagnant growth of oil & gas pumps industries and a decrease in exploration and production activities. As oil & gas is one of the foremost end-user industries of variable frequency drives. Moreover, continuous fluctuations in oil and natural gas prices directly impact the market of variable frequency drives. Moreover, the growth of the variable frequency drives market is directly affected by the decline in capital expenditures by oilfield operators and service providers. Thus, stringent government regulations associated with greenhouse gases, climate change, and alternative energy sources may also hinder the growth of the establishments engaged in oil and natural gas exploration and production activities and negatively impact the demand for variable frequency drives. The COVID-19 pandemic also had a negative impact on the variable frequency drive market, due to disruption in the supply chain of raw and finished products.  The post-Pandemic situation is ready to rise energy demand across the globe, and make huge investments in various sectors that ultimately increase the demand for variable frequency drive over the forecasted period

Key Developments:

In July 2021, ABB’s medium voltage drives provide energy-efficient pumping in a major desalination plant, saline water conversion corporation ‘s (SWCC) water treatment plant based in Jubail, Saudi Arabia. The plant working with ABB‘s digitally enabled ACS2000 medium voltage variable speed drives (VSD) to reduce energy consumption.

In December 2020, Rockwell Automation expanded its Kinetix 5100 Servo Drive to 480V available for usage in extensive applications such as packaging, converting print, machine and assembly, and life sciences.

In June 2021, Eaton launched the PowerXL DM1 micro variable frequency for industrial and commercial sectors.

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