Spain Variable Frequency Drive Market, By Type (AC Drive, DC Drive and Servo Drive),Voltage (Medium Voltage (>690V) and Low Voltage (Up to 690V)), Application (Pumps, Fans, Compressor, Conveyors, Extruders and Others), Power Range (0-0.5KW, 0.5-20KW, 20KW-50KW and 50-200KW), End-User (Oil & Gas, Power Generation, HVAC Industry, Infrastructure, Agriculture, Automotive, Food & Beverages and Others) Industry Trends and Forecast to 2027
Market Analysis and Insights: Spain Variable Frequency Drive Market
Variable frequency drive market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing at a CAGR of 4.4% in the forecast period of 2020 to 2027 and is expected to reach USD 717.54 million by 2027. The rising investment in the infrastructure development is one of the prominent factors that drive the growth of the market.
The rising urbanization is surging the consumer demand resulted in the growth of the industrial and manufacturing development, which attributes growth of the variable frequency drive market. Moreover, the rising connected devices in the commercial, industrial, and residential sectors are expected to drive the demand for the variable frequency drive in the coming future. The increasing cost for variable frequency drive restraints the growth of the market.
This Variable Frequency Drive Market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Spain Variable Frequency Drive Market Scope and Market Size
Spain variable frequency drive market is segmented on the basis of type, voltage, power range, application and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the market is segmented into AC drive, DC drive, and servo drive. In 2020, AC drive segment is accounted for the largest market share due to its growing usage in the wide range of applications such as food and beverages, infrastructure, pulp and paper, and automotive, which is expected to drive the demand for the AC drive in the industry.
- On the basis of voltage, the market is segmented into medium voltage (>690V) and low voltage (up to 690V)). In 2020, medium voltage (>690V) segment is accounted for the largest market share as these range of drives are widely used in the various industries such as power generation, oil and gas and many others.
- On the basis application the market is segmented in to pumps, fans, compressor, conveyors, extruders and others. In 2020, pumps segment attributes for the largest market share as pumps play vital role in the power generation and many other industries.
- On the basis power range, the market is segmented into 0-0.5kw, 0.5-20kw, 20kw-50kw and 50-200kw. In 2020, 0-0.5kw segment is accounted for the largest market share as the power range is used widely in various applications such as chiller, fans, compressor and many others.
- On the basis of end-user, the market is segmented into oil & gas, power generation, HVAC industry, infrastructure, agriculture, automotive, food & beverages and others. In 2020, oil & gas segment is accounted for the largest market share due to rising demand of oil and gas among countries which resulted in increasing in the expansion of oil and gas plant activities among the countries.
Rising Investments in the Infrastructure Industry in Spain Variable Frequency Drive Market
Spain variable frequency drive market also provides you with detailed market analysis for every country growth in installed base of different kind of products for variable frequency drive, impact of technology using life line curves and changes regulatory scenarios and their impact on the variable frequency drive market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Variable Frequency Drive Market Share Analysis
Spain variable frequency drive market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to variable frequency drive market.
The major players covered in the report are Siemens, ABB, Schneider Electric, Eaton, Emerson Electric Co., Mitsubishi Electric Corporation, LOVATO Electric S.p.A., Rockwell Automation, Inc., Danfoss A/S, Invertek Drives Ltd and among others.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of variable frequency drive market.
- In March 2019, ABB launched variable frequency drive hire fleet in the U.K. The customers can keep processes running, test new applications before they buy the product. This product launch has helped the company to cater wide range of customers in Ireland and the U.K.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for variable frequency drive through expanded range of size.
Customization Available: Spain Variable Frequency Drive Market
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