Product Code: EP 7026
"The Europe variable frequency drives market is projected to grow at a CAGR of 4.13% from 2019 to 2024"
The Europe variable frequency drives market is projected to grow from an estimated USD 5.2 billion in 2019 to USD 6.4 billion by 2024, at a CAGR of 4.13% during the forecast period. The growth of this market is driven by the increasing investments in the energy and construction industries. The government in this region is focusing on reducing greenhouse gas emissions. Such initiatives are the major drivers for this market.
"The compressor segment, by application, is expected to be the largest Europe variable frequency drives market (units) from 2019 to 2024"
The compressor segment is estimated to be the largest Europe variable frequency drives market, by application. It is expected to grow from 1,579,412 units in 2019 to 1,983,492 units by 2024, at a CAGR of 4.66% during the forecast period. The oil & gas, food & beverage, and building automation industries are driving the demand for compressors.
"The 0.5-20 kW segment, by power rating, is expected to be the largest Europe variable frequency drives market from 2019 to 2024"
The 0.5-20 kW is the largest segment, which is expected to be USD 755.3 million by 2019, at a CAGR of 4.90% from 2019 to 2024. The high energy savings at a low capital cost increase the demand for the 0.5-20 kW segment in Europe.
"Germany: The largest Europe variable frequency drives market"
The Europe variable frequency drives market in Germany is expected to grow at a CAGR of 4.82% during the forecast period. Increasing investments in the energy and construction industries are likely to drive the Europe variable frequency drives market in Germany. The other major countries contributing to this market are the UK, Russia, Spain, Italy, and France. Increasing demand for renewable power generation in chemical and food & beverage industries is expected to boost the Europe variable frequency drives market in this region.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants among other experts, to obtain and verify critical qualitative and quantitative information as well as to assess the future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 60%, Tier 2- 27%, and Tier 3- 13%
- By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%
- By Region: Europe- 40%, Asia Pacific- 25%, North America- 19%, Middle East & Africa- 16%
Note: Others includes sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined on the basis of their total revenue as of 2017. Tier 1: USD 1 billion, Tier 2: From USD 1 billion to USD 500 million, and Tier 3: <USD 500 million.
The Europe variable frequency drives market is dominated by a few major players that have a wide regional presence. The leading players in the Europe variable frequency drives market are ABB (Switzerland), Eaton (Ireland), Schneider (France), Siemens (Germany), Danfoss (Denmark), Fuji (Japan), Rockwell (US), Yaskawa (Japan), CG Power and Industrial Solutions (India), Hitachi (Japan), WEG SA (Brazil), and TMEIC (Japan).
The report defines, describes, and forecasts the Europe variable frequency drives market, by application, power rating, voltage, and country. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value and future trends in the Europe variable frequency drives market.
Why buy this report?
- 1. The report identifies and addresses the key markets of the Europe variable frequency drives market, which would help various stakeholders such as energy utilities, government and research organizations, institutional investors, shareholders, variable frequency drives' manufacturers, dealers, and suppliers.
- 2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
- 3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.
TABLE OF CONTENTS
- 1.1. OBJECTIVES OF THE STUDY
- 1.2. DEFINITION
- 1.3. MARKET SCOPE
- 1.3.1. MARKET SEGMENTATION
- 1.4. YEARS CONSIDERED FOR THE STUDY
- 1.5. CURRENCY
- 1.6. LIMITATIONS
- 1.7. STAKEHOLDERS
2. RESEARCH METHODOLOGY
- 2.1. MARKET SIZE ESTIMATION
- 2.1.1. IDEAL DEMAND-SIDE ANALYSIS
- 2.1.2. SUPPLY-SIDE ANALYSIS
- 2.1.3. FRAMEWORK OF MARKET ASSESSMENT
- 2.1.4. FORECAST
- 2.2. SOME OF THE INSIGHTS OF INDUSTRY EXPERTS
3. EXECUTIVE SUMMARY
4. PREMIUM INSIGHTS
- 4.1. ATTRACTIVE OPPORTUNITIES IN THE EUROPE VARIABLE FREQUENCY DRIVES MARKET
- 4.2. EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY COUNTRY
- 4.3. EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION & COUNTRY
- 4.4. EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE
- 4.5. EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY POWER RATING
5. MARKET OVERVIEW
- 5.1. INTRODUCTION
- 5.2. MARKET DYNAMICS
- 5.2.1. DRIVERS
- 184.108.40.206. Increased use of variable frequency drives across major industries
- 220.127.116.11. Rising need for energy efficiency
- 18.104.22.168. Supportive regulatory environment
- 5.2.2. RESTRAINTS
- 22.214.171.124. Stagnant growth of the oil & gas industry
- 5.2.3. OPPORTUNITIES
- 126.96.36.199. Aging power infrastructure
- 188.8.131.52. Industrial Internet of Things (IIoT)
- 5.2.4. CHALLENGES
- 184.108.40.206. Gray market providing low-quality and cheap products
6. EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE
- 6.1. INTRODUCTION
- 6.2. LOW VOLTAGE (UP TO 690 V)
- 6.2.1. INCREASING USAGE OF VARIABLE FREQUENCY DRIVES IN MINING, PULP & PAPER, WATER & WASTEWATER, AND OIL & GAS INDUSTRIES IS EXPECTED TO BOOST THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN THE LOW VOLTAGE SEGMENT
- 6.3. MEDIUM VOLTAGE (ABOVE 690 V)
- 6.3.1. LOW MAINTENANCE AND OPERATING COST OF MEDIUM VOLTAGE VARIABLE FREQUENCY DRIVES IN CEMENT AND STEEL INDUSTRIES ARE EXPECTED TO DRIVE THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN THE MEDIUM VOLTAGE SEGMENT
7. EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY POWER RATING
- 7.1. INTRODUCTION
- 7.2. 0-0.5 KW
- 7.2.1. RISING URBANIZATION AND INDUSTRIALIZATION ARE THE VITAL FACTORS THAT DRIVE THE GROWTH OF THIS SEGMENT
- 7.3. 0.5-20 KW
- 7.3.1. HIGH ENERGY SAVINGS AT LOW CAPITAL COST INCREASE THE DEMAND FOR THIS SEGMENT
- 7.4. 20-50 KW
- 7.4.1. HEALTHCARE AND HOME APPLIANCE INDUSTRIES ARE DRIVING THE DEMAND FOR THIS SEGMENT
- 7.5. 50-200 KW
- 7.5.1. HIGH-POWER DRIVES ARE LIKELY TO BOOST THE DEMAND FOR THIS SEGMENT
- 7.6. ABOVE 200 KW
- 7.6.1. HIGH-POWER APPLICATIONS ARE EXPECTED TO DRIVE THIS SEGMENT
8. EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION
- 8.1. INTRODUCTION
- 8.2. PUMP
- 8.2.1. INCREASING PUMP EXPORT AND ITS USE IN VARIOUS INDUSTRIES ARE LIKELY TO DRIVE THE PUMP SEGMENT
- 8.3. FAN
- 8.3.1. GROWING DEMAND FOR FANS IN HVAC AND LOW MAINTENANCE REQUIREMENTS ARE EXPECTED TO DRIVE THE FAN SEGMENT
- 8.4. COMPRESSOR
- 8.4.1. OIL & GAS, FOOD & BEVERAGE, AND BUILDING AUTOMATION ARE THE INDUSTRIES THAT ARE DRIVING THE DEMAND FOR COMPRESSORS
- 8.5. CONVEYOR
- 8.5.1. MINING, PHARMACEUTICALS, MANUFACTURING, AND TRANSPORTATION ARE THE INDUSTRIES THAT ARE DRIVING THE DEMAND FOR CONVEYORS
- 8.6. EXTRUDER
- 8.6.1. PLASTIC AND FOOD PROCESSING ARE THE INDUSTRIES THAT ARE DRIVING THE DEMAND FOR EXTRUDERS
- 8.7. OTHERS
- 8.7.1. FEATURES SUCH AS LOW MAINTENANCE AND REDUCTION IN MECHANICAL STRESS ARE EXPECTED TO DRIVE THE CRUSHERS & MILLS AND MIXERS MARKET
9. EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY COUNTRY
- 9.1. INTRODUCTION
- 9.2. GERMANY
- 9.2.1. INCREASING INVESTMENTS IN ENERGY & CONSTRUCTION INDUSTRIES ARE LIKELY TO DRIVE THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN GERMANY
- 9.3. UK
- 9.3.1. INCREASING DEMAND FOR RENEWABLE POWER GENERATION IN CHEMICAL AND FOOD & BEVERAGE INDUSTRIES IS EXPECTED TO BOOST THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN THE UK
- 9.4. RUSSIA
- 9.4.1. GROWING INDUSTRIAL SECTOR & INCREASING INVESTMENTS IN ENERGY PROJECTS ARE THE DRIVERS FOR THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN RUSSIA
- 9.5. FRANCE
- 9.5.1. TARGET TO REDUCE GREENHOUSE GAS EMISSIONS IS LIKELY TO BOOST THE DEMAND FOR VARIABLE FREQUENCY DRIVES IN FRANCE
- 9.6. ITALY
- 9.6.1. GROWING INDUSTRIAL SECTOR & INVESTMENTS IN THE OIL & GAS INDUSTRY ARE EXPECTED TO INCREASE THE DEMAND FOR VARIABLE FREQUENCY DRIVES IN ITALY
- 9.7. SPAIN
- 9.7.1. RISING EXPORT DEMAND IN PHARMACEUTICAL & AUTOMOBILE INDUSTRIES IS EXPECTED TO BOOST THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN SPAIN
- 9.8. REST OF EUROPE
- 9.8.1. INCREASE IN FOCUS ON RENEWABLE ENERGY SOURCES FOR POWER GENERATION IS EXPECTED TO DRIVE THE VFD MARKET
10. COMPETITIVE LANDSCAPE
- 10.1. INTRODUCTION
- 10.2. MARKET SHARE ANALYSIS
- 10.3. COMPETITIVE SCENARIO
- 10.3.1. NEW PRODUCT LAUNCHES
- 10.3.2. CONTRACTS & AGREEMENTS
- 10.3.3. MERGERS & ACQUISITIONS
- 10.3.4. INVESTMENTS & EXPANSIONS
- 10.3.5. PARTNERSHIPS
- 10.4. COMPETITIVE LEADERSHIP MAPPING
- 10.4.1 VISIONARY LEADERS
- 10.4.2. INNOVATORS
- 10.4.3. DYNAMIC
- 10.4.4. EMERGING
11. COMPANY PROFILING (Business overview, Products offered, Recent Developments, MNM view)*
- 11.1. ABB
- 11.2. EATON
- 11.3. SCHNEIDER
- 11.4. SIEMENS
- 11.5. DANFOSS
- 11.6. FUJI
- 11.7. ROCKWELL
- 11.8. YASKAWA
- 11.9. CG POWER AND INDUSTRIAL SOLUTIONS
- 11.10. HITACHI
- 11.11. WEG
- 11.12. TMEIC
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
- 12.1. INSIGHTS OF INDUSTRY EXPERTS
- 12.2. DISCUSSION GUIDE
- 12.3. KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 12.4. AVAILABLE CUSTOMIZATIONS
- 12.5. RELATED REPORTS
- 12.6. AUTHOR DETAILS