Variable frequency drives demand is set to grow at over 4% in 2021, with growing emphasis on heating, ventilation and air conditioning (HVAC) systems and automotive pumps which are expected to generate substantial growth opportunities. The projections are based on the latest edition by Future Market Insights (FMI), an ESOMAR-certified research and consulting firm.

Get | Download Sample Copy with Graphs & List of Figures:

https://www.futuremarketinsights.com/reports/sample/rep-gb-140 

The global automotive industry has made prolific advances in the recent past. Emerging as a multibillion dollar industry, the autonomous market is characterized by the emergence of a plethora of start-up investments. Consequently, adoption of high-end HVAC systems and pumps has registered an impressive uptick. According to FMI’s projections, the aforementioned segments collectively accounted for nearly US$ 10 Bn as of 2019.

Prolific growth opportunities exist in the Chinese market, owing to an ever mushrooming automotive industry. Future Market Insights estimates the economic giant to produce 4.5 million variable frequency drives by 2021-end, as production cycles revert to normalcy in the aftermath of the coronavirus crisis. Hence, manufacturers are introducing a slew of technological innovations to tap this ever expanding opportunity, thus generating powerful revenue ecosystems across the forecast period.  

For More Information or Query or Customization Before Buying, Visit:

https://www.futuremarketinsights.com/customization-available/rep-gb-140 

Key Takeaways of Variable Frequency Drives Market Study

• AC drives adoption surging in popularity by drive type; set to acquire 260 BPS by 2031-end
• U.S. and Germany to emerge as highly lucrative markets, owing to growing EV sales
• Growing concerns over excessive power consumption compelling automotive manufacturers to invest in low-voltage VFDs
• Regenerative applications to find growing applications, reaching nearly US$ 15 Bn by 2021-end
• Pumps and HVAC systems to collectively expand at a value CAGR worth 13% from 2021-2031

 “Rapidly expanding infrastructure for capital projects are attracting frequent capital investments, attributed to the increasing scale of urbanization. Hence, automotive sales are rising, leading to widening revenue pools for VFD manufacturers,” says the FMI analyst.

Request a Complete TOC of this Report with figures:

https://www.futuremarketinsights.com/toc/rep-gb-140 

Competitive Landscape

The variable frequency drives market is a highly competitive market, with a sizeable presence of both global as well as domestic players. However, key players account for nearly half of the market share. It is characterized by large supplier base and strong B2B networks.

The market has robust partnerships throughout the value chain. Suppliers of variable frequency drives adopt acquisition and regional expansion strategies to establish a foothold. Brand consciousness and aggressive marketing makes it challenging for new entrants in the variable frequency drives market.

Explore FMI’s Extensive Coverage on Industrial Automation Domain

Bridge Bearings – Bridge Bearings Market was valued at US$ 674.33 Mn in 2021, and is likely to reach US$ 705.8 Mn in 2022.

Weatherization Services Market– Weatherization Services Market to grow with a year-on-year growth of 4.0%, reaching US$ 35 Bn by the end of 2022.

Inflatable Tents Market– Inflatable Tents Market has forecast to register year-on-year growth of 7.6%, reaching a value of about US$ 969 Mn by the end of 2022.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

 

Contact:

Future Market Insights,

1602-6 Jumeirah Bay X2 Tower,

Plot No: JLT-PH2-X2A,

Jumeirah Lakes Towers, Dubai,

United Arab Emirates

For Sales Enquiries: [email protected] 

For Media Enquiries: [email protected] 

Website: https://www.futuremarketinsights.com/ 

Reports: https://www.futuremarketinsights.com/reports/global-variable-frequency-drives-market 

Press Release: https://www.futuremarketinsights.com/press-release/global-variable-frequency-drives-market