Global Variable Frequency Drive (VFD) Market 2016-2024

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Variable Frequency Drive (VFD) Market Growth,
Trends Forecast 2016 2024
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Global Market Scenario of VFD Industry

• The global variable frequency drive market size
  anticipated to witness significant growth owing
  to technological advancements that minimize
  energy consumption through the deployment of
  sustainable systems.
• Regulators across the globe have developed
  numerous standards to encourage the effective
  deployment of energy efficient system. In April
  2014, the U.S. Department of Energy (DOE) set the
  efficiency standards for HVAC systems under which
  heat pumps and air conditioners installed on or
  after January 2015, should adhere Seasonal Energy
  Efficiency Ratio (SEER) standards.
• Stringent government directives to reduce
  greenhouse gas emissions will positively impact
  the business outlook of the global variable
  frequency drive (VFD) market by 2024.

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• In 2014, the European Union has developed
  2003/87/EC directive with an aim to curb
  emissions by 20 by 2020.
• The Government of Australia has also prepared
  numerous direct action plans towards the
  reduction of emission. Increasing oil and gas
  drilling activities across deep and ultradeep sea
  platforms will further augment the business
  outlook.
• The demand for the optimum utilization of energy
  for effectively running operations across
  electricity generating stations will further
  complement the global (variable frequency drive)
  VFD market.
• Rising investments towards the deployment of new
  electricity generating stations to cater to the
  growing demand will enhance the industry size.

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• Based on the current rating, the global variable
  frequency drive market can be segmented into AC,
  DC, and servo drives. AC drives are witnessing a
  significant growth owing to its high efficiency
  and low maintenance costs. DC drives may witness
  a substantial growth due to its higher
  acceleration torque, low cost, and lesser
  complexity.
• On the basis of voltage rating, the global
  variable frequency drive market has been
  sectioned into low voltage and medium voltage.
  Low voltage range VFDs account for a higher
  market share due to its compact design and high
  acceptance across petrochemicals, metals
  mining, utilities, and cement industries.

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Regional Analysis

• The U.S. VFD market share is anticipated to
  witness an extensive growth owing to positive
  outlook towards chemical industries. In April
  2016, American Chemistry Council declared that
  the investment in chemical industry reached USD
  164 billion.
• Saudi Arabia variable frequency drive market is
  set to expand substantially due to growing
  investments across industrial and manufacturing
  sector
• The China variable frequency drive market is
  anticipated witness extensive growth
  opportunities owing to increasing investment in
  new electricity generating plants. In November
  2015, the country decided to construct more than
  150 coal-fired power plants, which will increase
  its capacity to 123 GW.

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