Technavio research projects the variable frequency drives market to grow by $ 3.20 bn, accelerating at a CAGR of almost 3% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Variable Frequency Drives Market: Key Market Driver
One of the primary factors that will trigger the growth of the variable frequency drives market size is presence of regulations that mandate use of variable frequency drives in industries. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Variable Frequency Drives Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Danfoss AS, Eaton Corporation Plc, Emerson Electric Co., Hitachi Ltd., Kollmorgen Corp., Mitsubishi Electric Corp., Nidec Corp., Schaffner Group, and Siemens AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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The variable frequency drives market is expected to grow by $ 3.20 bn, accelerating at a CAGR of almost 3% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View Free Sample Report
Variable Frequency Drives Market: Segmentation by End-user
This report provides a detailed analysis of the market by End-user (Food and beverages, Water and wastewater treatment, Oil and gas, Power generation, and Others), Type (Low voltage drives and Medium voltage drives), and Geography (APAC, Europe, North America, South America, and MEA). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.
Variable Frequency Drives Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Danfoss AS, Eaton Corporation Plc, Emerson Electric Co., Hitachi Ltd., Kollmorgen Corp., Mitsubishi Electric Corp., Nidec Corp., Schaffner Group, and Siemens AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
APAC: China and Japan to drive growth in the region
APAC will offer several growth opportunities to market vendors during the forecast period. The technological advances in variable frequency drives will significantly influence variable frequency drives the market growth in this region. 41% of the market’s growth will originate from APAC with China and Japan being the key markets for variable frequency drives in APAC. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the variable frequency drives market market size.
Factors such as the presence of regulations that mandate the use of variable frequency drives in industries will offer immense growth opportunities. However, lack of stability in crude oil prices and stagnant growth of the mining industry may impede market growth. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.
Variable Frequency Drives Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Danfoss AS, Eaton Corporation Plc, Emerson Electric Co., Hitachi Ltd., Kollmorgen Corp., Mitsubishi Electric Corp., Nidec Corp., Schaffner Group, and Siemens AGare some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
Variable Frequency Drives Market: Key Highlights of the Report for 2020-2024
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