Variable Speed Drive Market
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<strong>Variable</strong> <strong>Speed</strong><br />
<strong>Drive</strong> <strong>Market</strong><br />
Opportunity Analysis and Industry Forecast, 2016-2023<br />
Global Opportunity Analysis and<br />
Industry Forecast,<br />
2017-2023
Introduction<br />
• The global variable speed drive market is projected to reach at $26,544<br />
million by 2023, growing at a CAGR of 5.6% from 2023 to 2026.<br />
• The growth in need for energy efficiency, rise in trend of industrial<br />
automation, and reduction in operating costs of any intensive industry fuel<br />
the market growth.<br />
• Based on application system, pump is projected to dominate the global<br />
market, followed by fan in 2023.<br />
• At present, North America dominates this market.<br />
• The UK is expected to lead the overall market in the European region during<br />
the forecast period.
Key Factors of the <strong>Market</strong><br />
• Increasing industrialization in the emerging market<br />
• Increasing demand of energy efficient devices<br />
• High cost of variable speed devices<br />
• Increasing demand of variable speed drive in the food and beverages<br />
industry<br />
• Increase in urbanization in emerging countries such as India, China,<br />
Brazil, and others drive the market
<strong>Variable</strong> <strong>Speed</strong> <strong>Market</strong><br />
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Key Benefits of the <strong>Market</strong><br />
• Mining & Minerals is expected to generate the highest revenue in 2016.<br />
• In 2016, the AC drive segment accounted for the highest revenue in the variable<br />
speed drive market.<br />
• Asia-Pacific is anticipated to exhibit a highest CAGR during the forecast period.<br />
• China dominated the market in Asia-Pacific.<br />
• Similarly, the U.S. is expected to dominate the market in North America, and the<br />
UK is projected to lead in the European region during the forecast period.
<strong>Market</strong> Segmentation<br />
By Type<br />
• AC <strong>Drive</strong><br />
• DC <strong>Drive</strong><br />
• Servo <strong>Drive</strong><br />
By Voltage<br />
• Low Voltage<br />
• Medium Voltage<br />
By Application<br />
• Compressor<br />
• Pump<br />
• Fans<br />
• Others<br />
By End User<br />
• Automotive<br />
• Electronics<br />
• Oil & Gas<br />
• Power Generation<br />
• Others<br />
By Region<br />
• North America<br />
• Europe<br />
• Asia-Pacific<br />
• LAMEA
Key Players of the <strong>Market</strong><br />
• ABB Ltd.<br />
• Siemens AG<br />
• Rockwell Automation, Inc.<br />
• Yaskawa Electric Corporation<br />
• General Electric<br />
• Crompton Greaves<br />
• WEG<br />
• Schneider<br />
• Emerson Electric<br />
• Danfoss<br />
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