According to TechSci Research, Europe variable frequency drive market is expected to grow at a steady rate during the forecast period. The key factors anticipated to drive the Europe variable frequency drive market include rising utility of variable frequency drives in several end user industries. Moreover, growing investments on infrastructural development along with shifting focus on energy efficiency are some other factors responsible for driving the market growth in the region. In addition to this, major applications of VFD including conveyors, utility pumps, fans, among others, is anticipated to give a healthy push to the market growth during the next five years. However, the factor that might hamper the growth of Europe variable frequency market during the forecast period is the high cost of deployment.
The Europe variable frequency drive market is segmented based on type, end-user, power range, voltage, application, region and company. Based on type, the market can be segmented into alternating current, direct current and servo variable frequency drives. Out of which, the AC segment dominated the market until 2019 and is estimated to grow at the fastest rate during the forecast period attributable to surging demand of AC drives as they require less maintenance and are more efficient.
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Major players operating in the Europe variable frequency drive market include ABB Ltd., Rockwell Automation, Siemens AG, Schneider Electric Se, General Electric, Hitachi, Mitsubishi Heavy Industries Ltd, Crompton Greaves, Fuji Electric Co, Toshiba and others.
Years considered for this report:
Historical Years: 2015–2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the region.
TechSci Research calculated the market size of Europe variable frequency drive market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
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Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Europe variable frequency drive market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
o Oil & Gas
o Industrial
o Power Generation
o Infrastructure
o Micro Power Drives
o Low Power Drives
o Medium Power Drives
o High-Power Drives
o Low Voltage Variable Frequency Drives
o Medium Voltage Variable Frequency Drives
o Pumps
o Extruders
o Conveyors
o Compressors
o Others
Market, By Country:
o Germany
o United Kingdom
o France
o Russia
o Spain
o Italy
o Poland
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Europe variable frequency drive market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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