Technavio's latest report on the global variable frequency drives marketprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global variable frequency drives market from 2017-2021. (Graphic: Business Wire)
The need to optimize manufacturing processes, reducing operational cost by efficiently monitoring energy, and increasing the motors' working life have attributed to the growth of the adoption of variable frequency drives in industrial applications. Applications like compressors, pumps, fans, and blowers need precision over motor control.
Kalle Palli, a lead analyst from Technavio, specializing in research on automation sector, says, "The rise in adoption of electric motors for industrial automation and robotics due to the increased focus toward upgrading the production technology and converting current manufacturing units into smart factories are also influencing the demand for variable frequency drives. This is because variable frequency drives are capable of identifying a failure in a network and provide information through displays regarding the network failure or troubleshoot."
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The top three emerging trends driving the global variable frequency drives marketaccording to Technavio research analysts are:
- Improved cooling and increased functionality of the drives
- Integration of IoT in drives
- Increasing need for regenerative drives
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Improved cooling and increased functionality of the drives
Variable frequency drives heat up when supplying a large load to energy-intensive industries. The heat needs to be controlled inside the drive for proper functioning in order to perform tasks efficiently. For cooling the drives, a proper cooling arrangement needs to be done so that the temperature remains constant, which results in increased costs.
"Advances in the variable frequency drive technology have resulted in improvements. The development of power semiconductors and smaller semiconductors have reduced the cooling issues within the drives. Improved functionalities such as automatic diagnostics help in identifying any failure in the system and can rectify the faults easily without stopping the entire process," according to Kalle
Integration of IoT in drives
The development of IoT and technological enhancements have increased the adoption of automated technologies in industries. Vendors are offering consolidated offers such as services and control modules through smart devices and wireless connectivity technology for industrial equipment. They are providing apps that can analyze real-time data and provide necessary information regarding the performance of the equipment and service requirements.
The development of next-generation drives with advanced technologies will help vendors gain an edge over their competitors and meet the demands of end-users. Hybrid safety drives are designed differently, as they use amorphous powder metals instead of lamination, which are flexible in adapting to any magnetic circuit for diverse industrial applications in process and discrete industries.
Increasing need for regenerative drives
Regenerative energy drives are compact drives with low harmonic drives that can help in providing the energy back to a building's power grids. Motors often generate energy that is usually not tapped, resulting in the wastage of energy. Regenerative energy drives help in increasing power efficiently and effectively in plants. Schindler, a manufacturer and supplier of elevators, moving walkways, and escalators, provides regenerative energy drives to improve the energy efficiency in elevator systems such as geared or gearless traction equipment.
The key vendors are as follows:
- ABB
- Danfoos
- Rockwell Automation
- Siemens
- Schneider Electric
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