FCC

VFD market in India to grow

2019-09-30

According to 6Wresearch, India variable frequency drives (VFD) market is projected to grow at a CAGR of 6.1 per cent during 2019-25. In India?s VFD market, AC drive market captured the highest revenue share in 2018. Further, the segment is projected to exhibit growth during the forecast period owing to increasing use in HVAC applications. The AC drives are witnessing increase in usage in air handlers, pumps, chillers, tower fans, etc, attributable to certain key advantages such as energy savings, low motor starting current, simpler installation process and others.

Anuj Mehrotra, Assistant Manager, Research and Consulting, 6Wresearch, said, "Currently, India is witnessing rapid industrialisation, growing construction and infrastructure development. The demand for electricity driving heavy machinery is on the rise which is resulting in increase in demand for energy-efficient systems predominantly in large manufacturing units looking for reducing energy cost and improving efficiency of machines. Variable frequency drives used in verticals such as metal, mineral, and mining, water and wastewater management, transportation, and infrastructure are contributing to the growth of the overall market.?

Ashish Kumar Jain, Research Associate, Research and Consulting, 6Wresearch, added, ?Over the last few years, India is witnessing rapid economic growth which is further boosting the growth of manufacturing and industrial sector. With increasing number of manufacturing facilities, automation has emerged as an integral part for the industries owning to lower technical cost and rising demand for faster processes. Servo drives are increasingly being used in automation and robotics on account of its superior positioning, speed, and motion control features.?