Global Adjustable Frequency Drive AFD
Market Report
2024
Global Adjustable Frequency Drive AFD market size was $20.51 Billion in 2022 and it is forecasted to reach $39.39 Billion by 2030. Adjustable Frequency Drive AFD Industry's Compound Annual Growth Rate will be 8.5% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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Global Adjustable Frequency Drive AFD market size was $20.51 Billion in 2022 and it is forecasted to reach $39.39 Billion by 2030. Adjustable Frequency Drive AFD Industry's Compound Annual Growth Rate will be 8.5% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Adjustable Frequency Drive AFD Market Sales Revenue 2022 | $ 20.51 Billion |
Global Adjustable Frequency Drive AFD Market Sales Revenue 2030 | $ 39.39 Billion |
Global Adjustable Frequency Drive AFD Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.5% |
Market Split by Type |
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Market Split by Application |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Adjustable Frequency Drive AFD Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
An adjustable frequency drive AFD is also known as a variable-frequency drive, adjustable-speed drive, or variable-speed drive. It is a form of alternating current (AC) motor drive that regulates speed and torque by altering the rate of the input power. AFDs are used to regulate the speed of a motor by varying the frequency of the power. An AFD may regulate the motor's speed at any time during operation. The most typical applications for an AFD are control of fans, pumps, and compressors, which account for 75% of all drives running globally.
According to the Energy Information Association, 87 percent of US houses have air conditioning, with central units accounting for 75 percent. According to the most recent estimates (2020), the globe has an approximated 1.9 billion air conditioning systems. The majority of these are centered in the United States, China, Japan, and South Korea. This increases the need for adjustable frequency drives (AFDs) that are assisting in the temperature regulation of air-conditioning systems. As a result, the increasing use of air-conditioning systems propels market growth.
High usage of adjustable frequency drive AFDs can destroy electrical equipment. If a facility uses a lot of VFDs, vibrations in the electric lines may result in the destruction of delicate electronic gadgets and power factors. This hampers the adoption rate of the adjustable frequency drive AFD.
AFD is a critical component in any machine. It is a motor-powered regulator responsible for driving an electric motor by fluctuating the voltage and frequency. Thus, it is being widely used in irrigation pumping, crane & other hoists, paper and pulp machines, the wire and cable industry, the oil industry, textile machines, thermal power plants, submersible motors, and many others. These usages of AFD will boost the market growth.
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In September 2019, Sumitomo Heavy Industries, Ltd. Has acquired UK-based variable frequency drive manufacturer Invertek Drives Ltd. Invertek is a market leader in the design, production, and distribution of variable frequency drives (VFDs), which are used to control motors in a broad range of industrial, commercial, and energy-saving applications, including conveyors, fans, pumps, and other industrial gear. SHI will be able to expand its product line in the motor control market due to Invertek's technology and manufacturing capabilities, which are becoming increasingly crucial as demand for IoT, automation, labor productivity, energy-saving technologies, and applications develops.
Top Companies Market Share in Adjustable Frequency Drive AFD Industry: (In no particular order of Rank)
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Global Adjustable Frequency Drive AFD Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Adjustable Frequency Drive AFD Industry growth. Adjustable Frequency Drive AFD market has been segmented with the help of its Type, Application End User, and others. Adjustable Frequency Drive AFD market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on type, the AC drives segment dominates the adjustable frequency drive AFD market with more than 68% market share in 2022. This is owing to the benefits of AC drives which include energy savings, a decrease of thermal & mechanical pressure on motors and belts throughout starts, low motor starting current, high-power factor, simple installation, lower KVA, and others.
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Based on application, the pump segment dominates the adjustable frequency drive AFD market with around 29% market share in 2022. This is due to the rising usage of pumps in several applications such as water supply, irrigation, gasoline supply, refrigeration (usually called a compressor), air conditioning systems, chemical movement, flood control, sewage movement, marine services, etc.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Adjustable Frequency Drive AFD market report 2024 Edition by contacting our team.
Based on end users, the oil and gas segment dominates the adjustable frequency drive AFD market with about 19% market share in 2022. This is owing to an increase in the use of AFD in the oil and gas sectors. AFD is used to improve process control as less energy is needed when variable processes are controlled. It also assists in the reduction of power peaks by gently ramping up the motor's speed.
The Global Adjustable Frequency Drive AFD market is geographically divided into regions like North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. Asia Pacific dominates the market owing to the expansion in industries in many countries such as China, Korea, India, Japan, etc. Similarly, the increasing energy demand boosts the demand for AFD to advance working efficiency and reduce energy consumption.
The current report Scope analyzes Adjustable Frequency Drive AFD Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Senior Research Analyst at Cognitive Market Research
ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Adjustable Frequency Drive AFD Market is witnessing significant growth in the near future.
In 2023, the AC Drives segment accounted for noticeable share of global Adjustable Frequency Drive AFD Market and is projected to experience significant growth in the near future.
The Pumps segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Invertek Drives, Emerson Industrial and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Type | AC Drives, DC Drives, Servo Drives |
Application | Pumps, Electric Fans, Conveyors, HVAC, Extruders, Others |
End User | Oil & Gas, Power Generation, Industrial, Infrastructure, Automotive, Food & Beverages, Others |
List of Competitors | Invertek Drives, NovaTorque Inc., Emerson Industrial, Eaton, Yaskawa America Inc., Omron, Siemens |
This chapter will help you gain GLOBAL Market Analysis of Adjustable Frequency Drive AFD. Further deep in this chapter, you will be able to review Global Adjustable Frequency Drive AFD Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Adjustable Frequency Drive AFD Market Trends North America Adjustable Frequency Drive AFD Technological Road Map North America Adjustable Frequency Drive AFD Market Drivers North America Adjustable Frequency Drive AFD Market Restraints North America Adjustable Frequency Drive AFD Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by End User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Adjustable Frequency Drive AFD market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why AC Drives have a significant impact on Adjustable Frequency Drive AFD market? |
What are the key factors affecting the AC Drives and DC Drives of Adjustable Frequency Drive AFD Market? |
What is the CAGR/Growth Rate of Pumps during the forecast period? |
By type, which segment accounted for largest share of the global Adjustable Frequency Drive AFD Market? |
Which region is expected to dominate the global Adjustable Frequency Drive AFD Market within the forecast period? |
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