U.S. variable frequency drive market revenue is anticipated to expand at a moderate CAGR over the period 2017–2027
Variable frequency drive sales value and volume consumption in the U.S. is projected to expand at the highest CAGR over the forecast period. In 2016, the U.S. variable frequency drive market was valued at more than US$ 3,300 Mn and has been estimated to increase to a little more than US$ 3,500 Mn by 2017 end, reflecting a Y-o-Y growth rate of 5.9%. The U.S. country market is anticipated to create incremental dollar opportunity of close to US$ 3,000 Mn between 2016 and 2027 in the North America variable frequency drive market. In terms of market value, the Canada variable frequency drive market was valued at US$ 911.8 Mn in 2016 and has been estimated to increase to more than US$ 950 Mn by 2017 end, reflecting a Y-o-Y growth rate of 5.2%. Revenue contribution from the variable frequency drive market in Canada is expected to increase at a CAGR of 4.8% over the forecast period. The Canada market is anticipated to create incremental dollar opportunity of more than US$ 600 Mn between 2016 and 2027 in the North America variable frequency drive market.
Upsurge in energy prices and technological advancements in variable frequency drives are anticipated to fuel revenue growth of the variable frequency drive market in U.S. and Canada
Escalating energy prices has created the need for energy-efficient motor control systems. With the aim of reducing energy consumption, process engineers and other executives managing the operation department are increasingly inclined towards deployment of variable frequency drives. It acts as a substitute to throttling devices such as valves and dampers and fixed speed controllers. This factor is expected to boost the growth of the variable frequency drive market in the U.S and Canada. The emergence of new application areas coupled with advantages such as the low operational cost of systems with a deployment of variable frequency drives are factors expected to create favourable opportunities for variable frequency drives vendors in Canada and the U.S.
Variable Frequency Drive Market: High Absolute Dollar Opportunity to be Witnessed in 2027 over 2026 Owing to Fresh Investments in Power and Automotive Industry: North America Industry Analysis and Opportunity Assessment, 2017–2027Buy Now
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