by Variable frequency drives (VFDs) are used to control the speed of electric motors where the load or system requirements change. They are an essential component of automated industrial processes across various end use industries including food and beverage, oil and gas, power, mining, and wastewater management. Variable frequency drives provide an adaptive control system which enables optimization of process parameters and energy savings through variable speed control of pumps, fans, blowers, and compressors. The food and beverage industry in particular has seen rising adoption of VFDs for process optimization and energy efficiency in applications involving conveyor belts, mixers, blenders, and packaging equipment.
The global North America Variable Frequency Drive Market is estimated to be valued at US$ 6285.02 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of North America Variable Frequency Drive Market is the growing demand from food and beverage industry. The food and beverage industry is the largest end user of variable frequency drives mainly due to the need for controlling speed and torque of electric motors powering process equipment such as pumps, fans, blowers, and conveyor belts. VFDs help process optimization, lower energy consumption, and reduce wastage in food manufacturing and packaging processes. Furthermore, stringent guidelines regarding energy efficiency and carbon footprint reduction have encouraged various industries including food and beverage to incorporate advanced automation and control technologies powered by VFDs. The adoption of VFDs is thus expected to rise significantly in the North American region driven by the expanding food processing industry and focus on sustainable manufacturing practices.
Segment Analysis
The North America variable frequency drive market is dominated by the industrial segment which holds around 60% market share due to wide usage of VFDs in pumps, fans, conveyors, compressors and other industrial machineries for efficient speed control and energy savings. The commercial segment is the fastest growing segment owing to rising adoption of VFDs in HVAC systems, refrigeration units and other commercial applications for reduced electricity bills and maintenance costs.
PEST Analysis
Political: Stringent government regulations regarding energy efficiency and carbon emissions are driving the adoption of energy efficient VFDs in the region. Various incentives for industrial energy savings have propelled VFD usage.
Economic: Improving economic conditions and investments in infrastructure modernization are fueling demand for VFDs from construction and industrial sectors. Growing need to maximize productivity with minimal operating costs is boosting VFD installations.
Social: Rising environmental awareness among consumers and industries regarding energy conservation is a major factor for preferring VFD controlled appliances over traditional speed control methods.
Technological: Advancements in power electronics and digital control theories have enhanced the capabilities of modern VFDs. Features like sensorless vector control, communication protocols and integrated EMI filters are supporting complex industrial automation applications.
Key Takeaways
The Global North America Variable Frequency Drive Market Demand is expected to witness high growth.
Regional analysis: The North America VFD market is predicted to experience significant growth owing to maturing industrial sector and ongoing infrastructure projects. The US dominates the regional market and is expected to grow at over 5% CAGR during the forecast period driven by recovery in manufacturing and focus on sustainable buildings.
Key players operating in the North America variable frequency drive market are Randmark Dental Products, LLC., S4S (UK) Limited, DentCare Dental Lab Pvt.Ltd., Glidewell, Burbank Dental Lab, Brux Night Guard, CUSTMBITE, DDS Lab, Watersedge Dental Laboratory Inc., Orofacial Therapeutics, LP., PFL Healthcare Limited, Keystone Industries, Artistic Dental Laboratories, Inc., Iverson Dental Laboratories, National Dentex Labs (NDX), BonaDent Dental Laboratories, Procter & Gamble.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
