North America Variable Frequency Drive Market to reach Revenue US$ 7.79 Bn by 20Posted by Pradnya Kulkarni on May 15th, 2017 The North America variable frequency drive market is projected to reach US$ 7.79 Bn in revenues by 2027, according to a new research by Future Market Insights. In terms of volume, 6.25 million units of variable frequency drivers are expected to be sold in North America in 2017. The U.S. will continue to dominate sales, accounting for nearly 78% revenue share of the market. According to Future Market Insights, the key factors fuelling the growth of the market include,
Although Future Market Insights maintains a positive outlook on the North America variable frequency drives market, few challenges can restrain growth. These include technical anomalies associated with variable frequency drives and high initial costs of medium voltage variable frequency drives. Request For Sample@ http://www.futuremarketinsights.com/reports/sample/rep-na-3651 AC Drive Most Sought-After By drive type, Future Market Insights has segmented the market into AC drive, DC drive, and Servo drive. Among these, AC drives remain the sought-after device, accounting for nearly 72% revenue share of the market in 2016. While 4.20 million units of AC drives were sold in North America in 2016, collective sales of DC drives and servo drives accounted for 1.64 million units. Low Voltage Range Drives in Demand By voltage range, Future Market Insights offers market forecast and analysis on low voltage range and medium voltage range. End-users in North America prefer low voltage range variable frequency drives, with this segment accounting for over 80% revenue share in 2016. Low Demand for Regenerative Variable Frequency Drives By application type, Future Market Insights has segmented the variable frequency drive market into standard and regenerative. Demand for standard variable frequency drives is higher than regenerative variable frequency drives. The former accounted for over 88% revenue share of the market in 2016. The key end-use application segments of variable frequency drives are,
Pumps Largest End-use Application Segment According to Future Market Insights, pumps are the largest end-use application segment, accounting for nearly 35% revenue share of the market in 2016. In 2016, demand for variable frequency drives from this segment was 1.90 billion units. Send An Enquiry@ http://www.futuremarketinsights.com/askus/rep-na-3651 Oil & Gas Largest End-use Industry By end-use industry, Future Market Insights offers market forecast and analysis on oil & gas, food processing, automotive, mining & metals, pulp & papers, and ‘others’. The oil & gas segment accounted for 44% revenue share of the market in 2016. Future Market Insights projects it to remain the largest end-use industry for variable frequency drives during the period 2017-2027. Key companies profiled by Future Market Insights in its report include Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, Siemens AG, ABB Ltd., American Electric Technologies Inc., General Electric Company, Hitachi Limited, Honeywell International Inc., Rockwell Automation Inc., Johnson Controls, Inc., Emerson Industrial Automation, Toshiba International Corporation, and Schneider Electric SE. Like it? Share it!More by this author |