Variable Frequency Drive Market Global Professional Survey and In-depth Analysis Research Report Forecast to 2022
Market Highlights The factor which drives the growth of variable frequency drive market is increase in urbanization and industrialization in developing countries. Other factors driving the growth of these market are regulation on efficiency of energy, growing trends in industrial automation, efficient utilization of energy and increase in construction activities, power transmission & distribution. The utilization of VFDs, also results in the reduction of production cost, ultimately leading to the growth of these market. The growth of VFDs is also attributed by the increase of infrastructure activities such as construction of hospitals and educational institutions. The reduction in the operating cost of energy industry also results in the growth of this market. The report has been analyzed based on types, applications, end-user and regions. On the basis of type, AC drives is expected to witness the highest growth during the forecast period due to higher demand for AC drives and less requirement of maintenance. They are extensively used in heavy industries such as metals and mining, power generation, oil & gas, which has led to the growth of these segment. Based on applications, pumps segment is expected to dominate the market during the forecast period due to the rapid increase in the industrial activities and the growth of the construction sector. On the basis of end-user, infrastructure segment is expected to dominate the market because VFD’s are mainly used in infrastructure activities. The overall variable frequency drive market is expected to grow due to the growth in the infrastructure activities in Asia-Pacific. Global Variable Frequency Drive Market is predicted to grow at approximately 6% by 2022 Request a Sample Copy @ https://www.marketresearchfuture.com/sample_request/2440 Key Players The key players of global variable frequency drive market are ABB Ltd. (Switzerland), Siemens AG (Germany), Rockwell Automation, Inc. (U.S.), WEG (Brazil),