Europe Variable Frequency Drive Market growth to Grow with a robust CAGR through to 2028
Government regulations in reducing greenhouse gas
emissions is expected to drive the Europe Variable Frequency Drive Market
growth in the forecast period, 2024-2028.
According to TechSci Research report, “Europe Variable
Frequency Drive Market - By Country, Competition, Forecast and Opportunities,
2018-2028”, the Europe Variable Frequency Drive Market is expected to register
a robust during the forecast period, 2024-2028. The
growing adoption of connected devices across commercial, industrial, and
residential sectors, combined with the increasing demand for variable frequency
drives (VFD) due to their advantages such as dynamic torque control,
energy-saving, and adjustable speed, is anticipated to propel the market in a
positive direction. This trend is particularly evident in industries such as
oil & gas, automotive, and power generation.
Europe leads global efforts in enhancing
energy efficiency and cutting carbon emissions. Variable Frequency Drives
(VFDs) are pivotal in achieving these goals by optimizing electric motor
operation, widely used in industrial and commercial sectors. The ongoing focus
on energy efficiency presents a significant opportunity for the VFD market, as
businesses and industries strive to upgrade systems, meet stringent energy
standards, and lower operational expenses.
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Based on Application, Pumps segment has emerged as the
predominant market leader. The broader trend of industrial automation,
including Industry 4.0 initiatives, is exerting influence on the pumps segment.
Manufacturers are increasingly adopting Variable Frequency Drives (VFDs) to
automate and optimize their pumping systems, thereby ensuring consistent
performance and reducing operational costs. As Europe continues to make
substantial investments in renewable energy sources such as wind and solar,
VFDs play a critical role in controlling pumps utilized in hydropower and
district heating systems. The variable speed control provided by VFDs aligns
with the intermittent nature of renewable energy generation, contributing to
grid stability. By offering comprehensive after-sales services, including
maintenance and technical support, it is possible to enhance customer
satisfaction and loyalty within the pumps segment. Moreover, the incorporation
of Internet of Things (IoT) technology into VFDs can provide remote monitoring
and predictive maintenance capabilities, which can prove particularly valuable
for critical pump applications. In summary, the pumps segment within the
European VFD market is driven by energy efficiency, the water and wastewater
industry, industrial automation, and the integration of renewable energy. As
industries and municipalities continue to prioritize efficient and sustainable
fluid handling processes, the pumps segment is poised for steady growth.
Based on Voltage type, Low segment is expected to grow
during the forecast period.
The expansion of the low voltage VFD segment is intricately
connected to industrial automation, energy efficiency initiatives, and the
imperative for accurate motor control. As European industries increasingly
embrace automation and strive for energy conservation, the demand for low
voltage VFDs continues to escalate. The integration of renewable energy
sources, such as wind and solar, into Europe's energy grid presents an
advantageous opportunity for low voltage VFDs. These VFDs can effectively
regulate motors in renewable energy systems, ensuring efficient energy
conversion and grid compatibility. Collaborating with system integrators and
control system providers can streamline the integration of low voltage VFDs
into existing automation and control systems, making adoption more accessible
for end-users. Offering comprehensive maintenance and after-sales services,
including remote monitoring and predictive maintenance, can enhance the value
proposition of low voltage VFDs and improve customer satisfaction. The low
voltage VFD segment is poised for growth as industries persistently prioritize
energy savings and precise motor control in their automation endeavors.
Major companies operating in Europe Variable Frequency
Drive Market are:
- ABB Group
- Siemens AG
- Schneider Electric
- Danfoss
- Eaton Corporation
- Yaskawa Electric Corporation
- WEG Group
- Rockwell Automation
- Nidec Control Techniques
- Invertek Drives
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“Germany is expected to dominate the market during the
forecast period. Germany is at the forefront of renewable energy adoption, particularly
in wind and solar power. Variable Frequency Drives (VFDs) play a crucial role
in monitoring and controlling motors and generators in renewable energy
systems, ensuring optimal energy conversion and maintaining grid stability.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Europe
Variable Frequency Drive Market By Application (Pumps, Conveyors, Fans,
Compressors and Others), By End use (Oil & Gas, Industrial, Power and
Infrastructure), By Type (AC Drive, DC Drive and Servo Drive), By Voltage type
(Low and Medium), By Power rating (Micro, Low, Medium and High), By Country, By
Competition Forecast & Opportunities, 2018-2028”, has evaluated
the future growth potential of Europe Variable Frequency Drive Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Europe Variable Frequency Drive Market.
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