Variable Frequency Drive Market In North America Is Expected To Be Valued At US$ 5056.2 Million By 2032
A variable frequency drive (better known as VFD), could be described as a kind of motor controller driving an electric motor by varying voltage and frequency supplied to electric motor. North America Variable Frequency Drive Market stands at 4.77 Billion as of now and is expected to be worth US$ 5.06 Billion by the year 2032 at a CAGR of 6% from 2022 to 2032.
North America is known for being more into machines and less
into human labor. Variable frequency drives help in smooth sailing with respect
to dependence on these machines. They, in fact, help verticals in manufacturing
more products with minimal wastage. It has been reported that these drives
reduce downtime by increasing machine productivity, machines’ efficiency, and
quality of production.
The other terms to refer to VFD include adjustable speed
drive, variable speed drive, AC drive, adjustable frequency drive, inverter,
and Microdrive. The three different kinds of VFDs are fluid drives, electric
drives, and mechanical drives.
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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.
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
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