Variable Frequency Drive Market

Variable Frequency Drive Market By Voltage (Low Voltage, Medium Voltage); By Type (AC Drives, DC Drives, Servo Drives); By Power Range Type (Micro-Power Drives, Low-Power Drives, Medium-Power Drives, High-Power Drives); By Application Type (Pumps, Fans, Compressors, Conveyors, Others); By End User Type (Oil & Gas, Industrial, Power Generation, Infrastructure, Others) - Global Demand Analysis & Opportunity Outlook 2027

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Report ID: 1097 | Published On: Apr 06, 2022
  1. Introduction
    • Market Definition
    • Market Segmentation
    • Product Overview
  2. Assumptions and Acronyms
  3. Research Methodology
  4. Research Process
    • Primary Research
    • Manufacturers
    • Distributors
    • End Users
    • Secondary Research
    • Market Size Estimation
  5. Executive Summary - Global Advanced Therapy Medicinal Products Market
  6. Analysis of Market Dynamics
  7. Drivers
  8. Trends
  9. Key Market Opportunities for Business Growth
  10. Major Roadblocks for the Market Growth
  11. Regulatory & Standard Landscape
  12. Value Chain Analysis
  13. Potential ATMP Treatment Analysis
  14. Pricing Analysis of Global Advanced Therapy Medicinal Products Market
  15. Use Case Analysis
  16. Pipeline Analysis
  17. Analysis on the Manufacturing Process
  18. Analysis of COVID-19 Impact on the Global Advanced Therapy Medicinal Products Market
  19. Analysis of End-User Market Share of Global Advanced Therapy Medicinal Products
  20. Competitive Positioning
  21. Competitive Landscape
  22. Market Share Analysis of Major Players (%), 2021
  23. Competitive Benchmarking
  24. Novartis AG.
  25. Takeda Pharmaceutical Company Limited
  26. Gilead Sciences, Inc.
  27. Bluebird Bio, Inc
  28. BioMarin Pharmaceutical Inc
  29. Vericel Corporation
  30. Mallinckrodt Pharmaceuticals
  31. UniQure N.V.
  32. JCR Pharmaceuticals Co., Ltd.
  33. Spark Therapeutics, Inc. (Parent Company: Roche)
  34. Kolon TissueGene, Inc.
  35. Global Advanced Therapy Medicinal Products Market Outlook
  36. By Value (USD million)
  37. By Product
  38. CAR-T Therapy, 2021-2031F (USD million)
  39. Gene Therapy, 2021-2031F (USD million)
  40. Cell Therapy, 2021-2031F (USD million)
  41. Tissue Engineered Product, 2021-2031F (USD million)
  42. By Disease
  43. Oncology, 2021-2031F (USD million)
  44. Genetic Disorders, 2021-2031F (USD million)
  45. CNS, 2021-2031F (USD million)
  46. Dermatology, 2021-2031F (USD million)
  47. Others, 2021-2031F (USD million)
  48. By End-User
  49. Hospitals & Clinics, 2021-2031F (USD million)
  50. Research & Academic Institutes, 2021-2031F (USD million)
  51. Global Advanced Therapy Medicinal Products Market by Region
  52. North America, 2021-2031F (USD million)
  53. Europe, 2021-2031F (USD million)
  54. Asia-Pacific, 2021-2031F (USD million)
  55. Latin America, 2021-2031F (USD million)
  56. Middle East & Africa, 2021-2031F (USD million)
  57. North America Advanced Therapy Medicinal Products Market Outlook
  58. By Value (USD million)
  59. By Product
  60. CAR-T Therapy, 2021-2031F (USD million
  61. Gene Therapy, 2021-2031F (USD million)
  62. Cell Therapy, 2021-2031F (USD million)
  63. Tissue Engineered Product, 2021-2031F (USD million)
  64. By Disease
  65. Oncology, 2021-2031F (USD million)
  66. Genetic Disorders, 2021-2031F (USD million)
  67. CNS, 2021-2031F (USD million)
  68. Dermatology, 2021-2031F (USD million)
  69. Others, 2021-2031F (USD million)
  70. By End-User
  71. Hospitals & Clinics, 2021-2031F (USD million)
  72. Research & Academic Institutes, 2021-2031F (USD million)
  73. By Country
  74. US, 2021-2031F (USD million)
  75. Canada, 2021-2031F (USD million)
  76. Europe Advanced Therapy Medicinal Products Market Outlook
  77. By Product
  78. By Disease
  79. By End User
  80. By Country
  81. UK, 2021-2031F (USD Million)
  82. Germany, 2021-2031F (USD Million)
  83. France, 2021-2031F (USD Million)
  84. Italy, 2021-2031F (USD Million)
  85. Spain, 2021-2031F (USD Million)
  86. Russia, 2021-2031F (USD Million)
  87. Netherlands, 2021-2031F (USD Million)
  88. Rest of Europe, 2021-2031F (USD Million)
  89. Asia Pacific Advanced Therapy Medicinal Products Market Outlook
  90. By Product
  91. By Disease
  92. By End User
  93. By Country
  94. China, 2021-2031F (USD Million)
  95. India, 2021-2031F (USD Million)
  96. Japan, 2021-2031F (USD Million)
  97. South Korea, 2021-2031F (USD Million)
  98. Singapore, 2021-2031F (USD Million)
  99. Australia, 2021-2031F (USD Million)
  100. Rest of Asia-Pacific, 2021-2031F (USD Million)
  101. Latin America Advanced Therapy Medicinal Products Market Outlook
  102. By Product
  103. By Disease
  104. By End User
  105. By Country
  106. Brazil, 2021-2031F (USD Million)
  107. Argentina, 2021-2031F (USD Million)
  108. Mexico, 2021-2031F (USD Million)
  109. Rest of Latin America, 2021-2031F (USD Million)
  110. Middle East & Africa Advanced Therapy Medicinal Products Market Outlook
  111. By Product
  112. By Disease
  113. By End User
  114. By Country
  115. GCC, 2021-2031F (USD Million)
  116. Israel, 2021-2031F (USD Million)
  117. South Africa, 2021-2031F (USD Million)
  118. Rest of Middle East & Africa, 2021-2031F (USD Million)

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Inflation and Looming Recession to Haunt Businesses:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


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Global Variable Frequency Drive Market Overview

Variable frequency drive (VFD) is a type of power conversion device in which motor controller pushes an electric motor by varying the frequency and voltage supplied to the electric motor. The variable frequency drive also has the capacity to control ramp-down and ramp-up of the motor during start and stop of the motor. Variable frequency drive also known as adjustable speed drive, ac drive, adjustable frequency drive and variable speed drive.


Market Size and Forecast

The variable frequency drive market, in terms of value, is estimated around USD 20.10 Billion in 2017 and expected to grow rapidly during the forecasted period at a CAGR of 6.57%.  Increasing government guidelines for reducing energy consumption to achieve a net zero energy goal are expected to drive the market of variable frequency drive over the forecasted period. Increasing use of connected devices in commercial, household and industrial sectors are also expected to spur the growth of variable frequency drive market globally over the forecasted period.

Asia Pacific holds the largest market share of variable frequency drive in terms of revenue as the developing economies in this region such as China and India are investing a heavy amount of money in energy efficient devices. China accounted the largest market share of variable frequency drive over the forecasted period. Increasing investments toward the establishment of manufacturing facilities with increasing demand for oil & gas and power generation industries in this region are expected to stimulate the market of variable frequency drive over the forecasted period.Europe is expected to be the fastest growing market for variable frequency drive in terms of revenue over the forecasted period due the strict government norms towards the adoption of energy efficient devices and demand for clean energy technology. European Union introduce climate and energy package to fight against climate change. European Union plan on climate change focuses on emissions cuts, energy efficiency and renewable energy. These factors are expected to bolster the growth of variable frequency drive market in this region over the forecasted period. 

ariable Frequency Drive Market

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North America is expected to show a positive growth in terms of revenue due to the rapid adoption of variable frequency drives in oil & gas and power generation industries. Rising initiatives toward the achievement of energy efficiency devices are also expected to spur the growth of variable frequency drive market in this region.Middle East and Africa regions are expected to show a positive growth over the forecasted period due to increase in regulations to use energy efficient devices in this region. 


Market Segmentation

Our-in depth analysis of the global variable frequency drive market includes the following segments:

By Voltage

  • Low Voltage
  • Medium Voltage

By Type

  • AC Drives
  • DC Drives
  • Servo Drives

By Power Range

  • Micro-Power Drives
  • Low-Power Drives
  • Medium-Power Drives
  • High-Power Drives

By Application

  • Pumps
  • Fans
  • Compressors
  • Conveyors
  • Others

By End-User

  • Oil & Gas
  • Industrial
  • Power Generation
  • Infrastructure
  • Others

By Region

Global variable frequency drive market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.


ariable Frequency Drive Market
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Growth Drivers and Challenges

Growing investments by the government across the globe in energy efficiency are expected to augment the demand for energy efficient devices, thereby bolstering the growth of variable frequency drive market globally. Due to increasing energy consumption and its unit rate, the various industries are now tending towards the use of variable frequency drives for better productivity, operation and energy efficiency of machines. These factors are also expected to fuel the demand for variable frequency drive market across the globe.

Rapid urbanization and industrialization along with growing investments toward infrastructure development across the globe will foster the growth of variable frequency drive market globally. Variable frequency drive motors require less maintenance as compared with other equipment. Components such as active filters, passive filters, circuit breakers, IGBT, ac reactors, harmonic filters, PLCs, and safety relays are less prone to damage. These advantages of variable frequency drive are also expected to spur the market of variable frequency drive globally over the forecasted period.Variable frequency drive controls the speed of motor and minimize the overall power utilization. Due to which overall energy cost gets reduced with higher efficiency. These factors of variable frequency drive are expected to bolster the growth of variable frequency drive market globally. Installations of variable frequency drives are easier as compared to other motor controllers which also projected to drive the market of variable frequency drive market globally.Lot of use of variable frequency drives will causes harmonics in the electric lines which can cause damage in sensitive electronic equipment and power factor. This will act as a major restraint for the growth of variable frequency drive market.


Key players

Some of the examples of market players in the global variable frequency drive market identified across the value chain include:

  • ABB Ltd. 
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • General Electric
  • Hitachi
  • Mitsubishi Heavy Industries, Ltd.
  • Rockwell Automation
  • Schneider Electric
  • Crompton Greaves
  • Danfoss
  • Eaton
  • Emerson Electric Co.
  • Fuji Electric Co.
  • Siemens AG
  • Toshiba
  • Weg SA
  • Yaskawa Electric Corp.


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