NEW YORK, Feb. 7, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Variable Frequency/Speed Drives (VFD/VSD) Market - By Type (AC, DC, Servo), Voltage Range (Low, Medium), Power Range (Micro, Low, Medium, High) and Application (Pump, Fan, Compressor, Conveyors & Others) - Global Market Trends & Forecast to 2017
Growing demand for electrical efficiency and increasing investment in modernization of infrastructure will drive the global VFD (variable frequency drives)/VSD (variable speed drives)/ASD (adjustable speed drives)/inverters market to $18,854 million by 2017, with a CAGR of 8.7% from 2012 to 2017. Asia-Pacific, with its thriving economies and rapidly expanding manufacturing bases, is expected to experience highest revenue growth during the next five years.The factors driving growth in the VFD market are rising energy prices, stringent efficiency regulations, and increased awareness about advantages of the drives. VFD is a highly developing market despite having a large base due to its enormous potential offered by these drives. Though the market experienced slight reduction in the growth rate in 2012; this effect will be short lived and the market will bounce back with steady growth in the future. VFD manufacturers mainly focus on R&D in order to develop new and improved products, which offer more distinguished and revolutionary features such as more precision, control, and efficiency. Expansion into new and emerging markets such as Asia-Pacific, Russia, and South America has been and will be the key for success for VFD manufacturers if they intend to increase their overall sales and revenue. . In 2012, ABB Ltd ( Switzerland) dominated the VFD market with 19% market share. Siemens Industry Inc. (U.S.) stood second with 13.8% and Schneider Electric SA ( France) occupied around 8.5% market share of the total VFD market. AC drives occupy maximum market share due to their comprehensive use in all types of industries and induction motors to achieve multiple speeds of operation. By application, the drives that are used for pumps capture maximum market share. The high power drives are applied in heavy industries such as oil & gas, metals & mining, power generation, cement, paper, wind energy, water & wastewater, and marine. These involve huge capital and infrastructure investment expending but offer enormous savings and reduction in power consumption.