NORTH AMERICA VARIABLE FREQUENCY DRIVE MARKET ANALYSIS

Market Concentration and Competitive Landscape

Close-monitor your Competitor's Move, Request sample copy

Opportunity: Increasing demand for automation and process control

There is growing emphasis on automation and digitization of industrial processes across various sectors in North America. Manufacturing industries are automating discrete and continuous production lines to improve product quality, maximize output and gain competitive advantage. Process industries require tight control of parameters like pressure, flow, temperature for safety and regulatory compliance. VFDs are a crucial part of implementing automation solutions as they enable remote centralized control and monitoring of multiple motor-driven systems over industrial networks.

VFDs facilitate precision process control capabilities through dynamic motor speed variation. This allows manufacturers to finely tune energy-intensive operations like heating, cooling, mixing, and grinding according to real-time production demands. Automating these processes with VFDs enhances overall equipment effectiveness. Industries are also installing VFDs for energy management and optimization purposes in building automation applications like HVAC, lighting and refrigeration systems. The demand is further stimulated by the need to reduce human intervention in manufacturing and streamline plant floor operations through industrial internet of things technologies. All these trends point towards a growing market share of variable frequency drives.