Variable Speed Drive Market
Opportunity Analysis and Industry Forecast, 2016-2023
Global Opportunity Analysis and Industry Forecast, 2017-2023
Introduction • The global variable speed drive market is projected to reach at $26,544 million by 2023, growing at a CAGR of 5.6% from 2023 to 2026.
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The growth in need for energy efficiency, rise in trend of industrial automation, and reduction in operating costs of any intensive industry fuel the market growth.
• Based on application system, pump is projected to dominate the global market, followed by fan in 2023. • At present, North America dominates this market. • The UK is expected to lead the overall market in the European region during the forecast period.
Key Factors of the Market • Increasing industrialization in the emerging market • Increasing demand of energy efficient devices
• High cost of variable speed devices • Increasing demand of variable speed drive in the food and beverages industry
• Increase in urbanization in emerging countries such as India, China, Brazil, and others drive the market
Variable Speed Market
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Key Benefits of the Market • Mining & Minerals is expected to generate the highest revenue in 2016. • In 2016, the AC drive segment accounted for the highest revenue in the variable speed drive market. • Asia-Pacific is anticipated to exhibit a highest CAGR during the forecast period. • China dominated the market in Asia-Pacific. • Similarly, the U.S. is expected to dominate the market in North America, and the UK is projected to lead in the European region during the forecast period.
Market Segmentation By Type • AC Drive • DC Drive • Servo Drive
By Voltage • Low Voltage • Medium Voltage
By Application • Compressor • Pump • Fans • Others
By End User • Automotive • Electronics • Oil & Gas • Power Generation • Others By Region • North America • Europe • Asia-Pacific • LAMEA
Key Players of the Market • • • • • • • • • •
ABB Ltd. Siemens AG Rockwell Automation, Inc. Yaskawa Electric Corporation General Electric Crompton Greaves WEG Schneider Emerson Electric Danfoss
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