About Variable Speed Drives
A variable speed drive, a device that regulates the rotational force and speed or output torque of an electric motor or mechanical equipment. It is highly used in pumps, fans, compressor and other equipment for energy saving and productivity improvement. The surging need for modernization and retrofitting of the various sector such as power plants, oil & gas industry, automotive and food & beverages are acting as a major driving agent in the growth of the variable speed drive market
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that Japanese, Chinese, German and United States Vendors will contribute the maximum growth to Global Variable Speed Drives market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), Siemens AG (Germany), Schneider Electric (France), Emerson Electric (United States), Yaskawa Electric (Japan), Mitsubishi (Japan), Hitachi (Japan), Danfoss (Germany), Toshiba (Japan), Fuji Electric (Japan) and Rockwell Automation (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Inovance (China), Hiconics (China), INVT (China) and EURA Drives (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Variable Speed Drives market by Type (Alternating Current (AC) Motor Drives, Direct Current (DC) Motor Drives and Servo Drives), Application (Compressor, Pumps, Fans and Others) and Region.
On the basis of geography, the market of Variable Speed Drives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Voltage, the sub-segment i.e. Low voltage will boost the Variable Speed Drives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Automotive, will boost the Variable Speed Drives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Rapid Growth in Industrial Automation
Market Growth Drivers:
Increase Urbanization and Industrialization in Emerging Countries and Rising Demand for Energy Efficiency
Challenges:
Lack of Skilled Maintenance Human Resource and Unpredictable Development Expenses
Restraints:
High Cost in Installation
Opportunities:
Increasing Demand in Food & Beverage Industry and Surging demand in Infrastructure Construction in Both Developed and Developing Economies
Key Target Audience
VSD Manufactures, Dealers, And Suppliers, Energy Utilities, Government and Research Organizations, Institutional Investors, Process Industries and Power and Energy Associations, Public and Private Operators and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.