Global Variable Frequency Drive Market

Description

Introduction

Variable Frequency Drive (VFD) is the term for a motor which supplies variable frequency and voltage to drive the electric motor. VFD converts a fixed-frequency, fixed-voltage output into a variable-frequency and variable-voltage output which can be used to control the speed of the motors. Thus, it is an advanced technology which optimizes the process by inclining it with variable power supply needs of a motor. The primary job of a VFD is precise speed control which means that the power supplied to the connected load can be ramped up or ramped down according to the desired speed levels, therefore utilizing enough energy to sustain the functioning. It has various benefits over conventional methods like reduction in power line disturbances, adjustable torque limit and low power demand on start, controlled stopping and controlled acceleration and so on. VFD also eliminates the need for a separate controller for process control of temperature, pressure or flow by interfacing VFD with suitable sensors and electronics.

Market Dynamics

The primary driver of the Variable Frequency Drive market is the increasing demand for energy efficiency and the ability of VFD to build on it. With the use of VFD, the speed of the motor can be regulated and since the power consumption of motor is non-linearly dependent upon the velocity, efficiency of the system can be improved thereby resulting in savings. Furthermore, increase in installations of VFD across the globe also drives the growth of the market as reliability on VFD has established. Another dynamic which positively impacts the growth is the reducing cost of VFD and increasing performance. Furthermore with improvement in regenerative energy which is defined as the energy transmitted back to the inverter when motor decelerates, or load descends, is also aligning with high energy savings thereby driving the growth of the market. Since, VFDs can adjust the load reaching the motor and operate at high power when compared to conventional methods where power factor is quite low, the operational life of the motor gets extended which can further add as a critical driver of the market. Inhibitors of growth include cross talks and heat loss.

Market Segmentation

We can segment the VFD market by component, by type, by voltage range, by power range, by industry, and by region. By component, segmentation includes AC motor, Controller, Operator Interface, Drive Controller. By Drive type, the division includes Voltage-Source Inverter (VSI), Current-Source Inverter (CSI), Six-Step Inverter, Matrix Inverter, Load Commutated Inverter, Variable Torque, Constant Torque, Constant Power and Servo drive. By voltage range, we have two categories, Medium, and Low Voltage Drives. By power range, entire market is categorized into low, medium, high and micro range. By Industry, segmentation includes Signal Processing, Industrial Power, Actuators, Washing Machines, Grinding Polishing, Pump, Fan, Elevator Hoists and Machine tools. By region, segmentation includes North America, Asia-Pacific, Europe and the Middle East and Africa.

Geographic Analysis

All the major regions are further segmented into major countries. The US VFD market is expected to grow because of positive outlook towards chemical industries. China’s increasing investment in electricity generating plants will lead to the growth of the market.

Key Players

Some of the major players in the VFD market are ABB Ltd, Danfoss, Siemens AG, Hitachi Ltd, General Electric Company, Honeywell International, Emerson Electronics Co, Rockwell Automation, Johnson Controls, etc.