The North America Variable Frequency Drive Market is currently worth US$ 4.77 billion and is expected to be worth US$ 5.06 billion by 2032, growing at a CAGR of 6% from 2022 to 2032.
North America is known for its preference for machines over human labour. In terms of reliance on these machines, variable frequency drives aid in smooth sailing. They, in fact, assist verticals in producing more products with less waste. It has been reported that these drives reduce downtime by increasing machine productivity, efficiency, and product quality.
A variable frequency drive (VFD) is a type of motor controller that drives an electric motor by varying the voltage and frequency supplied to the motor. VFD is also known as an adjustable speed drive, variable speed drive, AC drive, adjustable frequency drive, inverter, and Microdrive. Fluid drives, electric drives, and mechanical drives are the three types of VFDs.
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Rising prices of energy have resulted in an inevitability of energy-efficient motor control systems. They prove to be a good alternative to various throttling devices like valves and dampers and fixed speed controllers. Along these lines, Len Busch Roses has Danfoss’ variable frequency drive for regulating airflow in snapdragon greenhouse, that too, with precision. As such, Len Busch has witnessed reduction in energy costs by 22%.
Smart grid technology is being increasingly adopted, which could open doors for varying voltage and phase angle required. This ascertains that electricity gets transferred more efficiently.
Single VFD is getting used to control multiple electric motors, so as to dissipate less energy. Synchronous bypass method makes use of a VFD for starting and synchronizing multiple motors through transfer of load from a source to the other. Rockwell Automation states that asynchronous variable frequency drive system used to control two motors is capable of saving up to 33% of the initial capital spending.
At the same time, the fact that VFDs release pulses that are asynchronously switched can’t be ignored. If there happens to be a long cable between the motor and VFDs, the reflected pulses could result in production of voltage overshooting line voltage, thereby causing tension in cable and motor windings. Insulation thus fails, specifically for the motors that operate at 490 volts (or even higher). Future Market Insights has, through its latest market study entitled ‘North America variable Frequency Drive Market’, etched these findings with future perspectives.
Key Takeaways from North America Variable Frequency Drive Market
- The AC drive dominates North America Variable Frequency Drive market. It, in fact, accounts for more than 70% of the overall market. This could be credited to wider application on their part in heavy and medium industries like power generation, oil and gas, food and beverages, paper and pulp, infrastructure, and automotives.
- Low voltage accounts for more than 80% of the overall market share due to growing demand for low power variable frequency drives in fans, pumps, machine tools, crane, fluid machines, printing machines, metal processing machines, and food processing machines.
“Call for better productivity with reduced downtime to drive North America Variable Frequency Drives market”, says an analyst from Future Market Insights.
Competitive Landscape
- Yaskawa Electric Corporation, in June 2021, announced tabling HV600 family of the drives that incorporates advancements in HVAC applications’ variable speed control.
- Eaton Corporation, in June 2021, came up with PowerXL DM1 micro variable frequency drive designed for OEMs at industrial and commercial level.
- Fuji Electric, in September 2022, announced working on virtual power plant in the direction of spreading renewable energy.
- Emerson, in June 2022, acquired Fluxa, thereby strengthening its foothold in the life sciences vertical.
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What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on North America Variable Frequency Drive market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on voltage range (low voltage range and medium voltage range), by end-use vertical (oil & gas, food processing, and automotive), and by application (standard and regenerative).
Key Segments Profiled
By Voltage Range Type:
- Low Voltage Range
- Medium Voltage Range
By End-use Industry:
- Oil & Gas
- Food Processing
- Automotive
By Application:
- Standard
- Regenerative
By Region:
- North America
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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