The Variable Frequency Drive market in the Southeast Asian Region,Australia and New Zealand is poised to grow at a healthy CAGR of 8.5% in the forecast period (2018-2021). The Rapid Urbanization and Industrialization in the region drives the demand for VFD
- Definition / Scope
- Market Overview
- Top Market Opportunities
- Market Drivers
- Market Restraints
- Industry Challenges
- Technology Trends
- Pricing Trends
- Regulatory Trends
- Market Size and Forecast
- Market Outlook
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
- Variable Frequency Drive which is also termed as adjustable frequency drive, “variable-voltage/variable-frequency (VVVF) drive”, variable speed drive, AC drive, micro drive or inverter drive is a type of adjustable-speed drive applied in electro-mechanical drive systems by varying motor input frequency and voltage to control AC motor speed and torque.
- VFDs can be used for a number of applications ranging from small appliances to large compressors. VFDs when applied in centrifugal load service can make electrical motors in Industrial application efficient(consuming 25% of the world's electrical energy) . VFDs global market penetration is still considered to be low.
- With the advancement in semiconductor switching devices, drive topologies, simulation and control techniques, and control hardware and software the cost and size of the VFD has been reduced considerably with improved performance. VFDs are made in a number of low-voltage and medium-voltage AC-AC and DC-AC topologies.
- The global VFD market is poised to reach a market size of USD 24.41 billion by 2021, at a CAGR of 5.87%, from an estimated USD 20.73 billion in 2018.The Countries of South East Asia and Australia,NewZealand is expected to rollick the growth trajectory by posting a CAGR of 7.2% in terms of value and the VFD market is expected to post a growth rate of 8.5%
Types of Variable Frequency Drives
Classification based on the type of drive:
Based on the drive type,VFD is classified into the following types
- AC VFD,
- DC VFD and
- Servo VFD
Of these the AC VFD held market share of 70% of the global variable frequency drive in the year 2014.But the trend is said to discontinue with the penetration of low cost and high performing DC and Servo VFD. It is expected that AC VFD is poised to shed 110 BPS in its market share
Classification based on the voltage range:
On the basis of voltage range,VFD is categorized into
- medium voltage range VFD and
- low voltage range VFD
The Low Range VFD is expected to post an increase of 7% in terms of revenue.
Classification based on Application Type:
Variable Frequency Drive based on the application type is categorized into the following types:
- Standard and
The Regenerative application type is expected to post a higher CAGR growth in terms of both value and volume.
Classification based on power rating:
Based on the power rating variable frequency drive is classified into:
- low power drive,
- medium power drive and
- high power drive.
The low power drive is expected to outperform the market by 2021.The low power drive offers higher energy savings at low cost and improved process control applied across industries such as construction, automation, oil & gas, food & beverage, and pulp & paper.The increase in infrastructure activities in emerging countries would drive the demand for low power drive segment market.
Classification based on end-use application:
By end-use application Variable Frequency Drive is classified into the following types:
- Conveyor and
Advantages of VFD
The advantages offered by vfd includes the following:
- Energy Savings,
- Increased Motor Longevity,
- Reduced Power Line disturbances,
- Reduced Risk of Motor damage during start and stop and
- Elimination of expensive mechanical drive components
Important factors supporting the adoption of Variable Frequency Drives
- Value Energy usage of any infrastructure project can be reduced by using Variable Frequency Drives.This in turn reduces the energy bills of the end user
- Comfort The flow of air can be controlled using a VFD and hence can enhance the comfort levels of the residents
- Health Advanced HVAC system is coupled with VFDs and are implemented to resolve health related issues.
- Upkeep VFDs reduce the starting torque and stress on the motor,this leads to longer life and lower maintenance costs.