The forecast phase of the variable frequency drives market continues from 2014 to 2020. The market is sliced into four categories. These are kinds, voltages, consumers and geographies. The kinds market is segmented into DC, AC and servo. The voltages variable frequency drives market includes medium voltage and low voltage.
The various consumers of the variable frequency drives market include chemical processing, manufacturing, infrastructure development, automotive, oil and gas, power production and others. The geographies market consists of Europe, Americas, Asia Pacific and Middle East and Africa. The market was anticipated to have generated revenue of about USD 16.6 billion in 2014.
It is predicted to grow to around USD 22.7 billion by 2019. The variable frequency drives market is projected to expand at about 6.4 percent from 2014 to 2019. Variable frequency drives are instruments which regulate the torque and velocity of motors in electrical and electronic devices. By regulating the velocity of the entire procedure in the system, variable frequency drives cater to procedural demands.
The vital components accountable for the expansion of the variable frequency drives market are escalating consumption and costs of electricity alongside infrastructural advancements. These drives are broadly utilized in manufacturing sectors wherein decrease in the consumption of electricity is of prime significance. Environmental policies in relation to variable frequency drives and infrastructural enhancements are responsible for steering the variable frequency drives market ahead.
Asia Pacific is the biggest market in the world. Expanding urbanization in Japan, India and China steers further demand for the variable frequency drives market in the region.
Posted on May 22, 2015 | Category Technology