Asia Pacific VFD Market Growth will witness growth on account of rising electricity demand followed by positive regulatory reforms toward the energy efficiency. Rapid industrialization and urbanization along with rising public & private investments toward sustainable infrastructure development will propel the industry outlook. Favorable government initiatives, policies and incentives are the prominent regulatory measures which will further complement the product adoption.
Dynamic braking system, speed control, DC injection braking and PWM frequency adjustment are the key features which will fuel the product demand across the industrial establishments. Ongoing technological advancement to improve ability to provide accurate & wide-range control systems will foster the product penetration. For instance, CG Power & Industrial Solutions, in 2019, introduced Emotron VSX Series VFD for critical applications offering cost saving and enhanced protection ability.
Growing focus toward infrastructural development followed by ongoing FDI across industrial and manufacturing sectors will boost the business scenario. In addition, rising electricity demand across the HVAC&R industry coupled with increasing consumer inclination toward energy efficient systems will boost the product demand. Moreover, ongoing introduction of codes and standards to establish smart grid network will positively stimulate the Asia Pacific VFD market.
High efficiency, reduced start-up current requirement, high mechanical strength and increased power factor are the key factors which will augment the product demand. In addition, increasing electricity demand along with rising energy storage capacity will positively influence the AC drive market share. Growing applicability across high power generation plants, food processing units, and oil & gas sector will escalate the industry growth.
Retrofitting and replacement of conventional transmission networks on account of stringent energy efficiency norms and building emission policies will foster the VFD market across China. In addition, ongoing investment toward R&D sector to enhance the operational ability across various industries including petrochemicals, cement, metals & mining, and utilities will strengthen the technological adoption. For instance, in 2019 Rockwell Automation introduced smaller footprint MV VFD system for industrial and commercial applications ranging between 2.4kV to 4.16 kV.
Flourishing automotive sector across the developing economies pertaining to the growing demand for automobiles has instituted a favorable business scenario. In addition, paradigm shift toward micro grid infrastructure followed by increasing electricity capacity addition will positively influence the business scenario. Growing inclination toward optimal energy utilization along with increasing adoption of safe, secure and efficient power products will strengthen the Asia Pacific VFD market.
Strategic collaborations, mergers & acquisitions and partnerships among the leading manufacturers will positively sway the industry outlook.Major players operating across indusrty includes ABB Limited, Eaton Corporation, General Electric, Crompton Greaves, Siemens AG, CG Power, Mitsubishi Electric, Fuji Electric, Johnson Controls, Emerson Electric, Schneider Electric, Hitachi, Danfoss, Hiconics, Eco-energy Technology and Yaskawa Electric Corporation.