Posted on 16th Mar 2023
The future of Variable Frequency Drive market is expected to be promising with the increasing demand for energy-efficient drives across the world. According to CM Industry Supply Automation, the market is projected to grow at a CAGR of XX% during the forecast period.
1. What is a variable frequency drive?
Variable frequency drives are devices that allow for the adjustment of the speed of an electric motor. This can be done either manually or automatically, depending on the needs of the system. Variable frequency drives are often used in industrial applications, where precise control of motor speed is necessary.
2. How does a variable frequency drive work?
Variable frequency drives (VFDs) are a type of motor controller that allow you to adjust the speed of an electric motor by changing the frequency of the power supplied to it. This makes them a popular choice for adjustable speed applications, such as fans, pumps, and conveyors.
How does a VFD work? The controller takes the incoming power and converts it to DC voltage. This voltage is then used to drive a set of inverters, which in turn create a variable frequency AC signal. This signal is applied to the motor, and the speed is adjusted by changing the frequency.
3. The benefits of using a variable frequency drive
Variable frequency drive (VFDs) have many benefits that make them a popular choice in industrial applications. Some of the benefits of using a VFD include:
1. Increased energy efficiency – VFDs can help to reduce energy consumption by up to 90%, making them a very cost-effective choice.
2. Increased equipment life – VFDs help to extend the life of equipment by slowing down wear and tear.
3. Increased reliability – VFDs can help to prevent equipment failures by maintaining a more consistent voltage and frequency.
4. Lower maintenance costs – VFDs require less maintenance than traditional equipment, leading to lower costs over the life of the equipment.
5. Reduced emissions – VFDs help to reduce emissions from equipment by up to 50%.
All of these benefits make VFDs a very attractive choice for industrial applications.
The future of the variable frequency drive market
The global variable frequency drive (VFD) market is projected to grow at a CAGR of 6.7% from 2019 to 2024, according to a new report by CM Industry Supply Automation. Growth in the market is driven by the increasing demand for energy-efficient solutions, growing industrialization and urbanization, and the increasing adoption of VFDs in applications such as oil and gas, water and wastewater, and HVAC.
The market for VFDs is expected to witness significant growth in Asia Pacific, especially in China and India, due to the increasing demand for energy-efficient solutions and the growing industrialization and urbanization in these countries. The market in the Middle East and Africa is also expected to grow at a high rate during the forecast period, due to the increasing demand for VFDs in the oil and gas sector.
The major players in the VFD market include Darwin Motion (Australia & India), Lenze Drive, Keb Drive, ABB (Switzerland), Siemens drive (Germany), Danfoss (Denmark), Rockwell Automation (US), and Mitsubishi Electric (Japan). These players are increasingly focusing on expanding their presence in the fast-growing markets of Asia Pacific and the Middle East and Africa.
The growth of the Variable Frequency Drive market is fuelled by the increasing demand for energy-efficient drives across the world. With the advancement of technology, the market is expected to grow at a rapid pace in the coming years.