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The global variable frequency drive market is projected to reach USD 24.3 billion by 2025 from an estimated USD 19.2 billion in 2020, at a CAGR of 4.8% during the forecast period.
This growth can be attributed to factors such as growing regulations towards energy efficiency, upgradation & modernization of aging infrastructure for safe & secure electrical distribution systems, and increasing rate of industrialization and urbanization. However, stagnant growth of the oil & gas industry and decrease in the exploration & production activity is hindering the growth of the variable frequency drive market.
The AC Drives segment, by type, is expected to be the largest market from 2020 to 2025
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The global LED packaging market is estimated to grow from USD 17.6 billion in 2021 to USD 22.1 billion by 2026, at a CAGR of 4.6%.
The market has a promising growth potential due to several factors, including the risen demand for IoT-enabled lighting fixtures and smart lighting solutions, surged demand for LED packages in display panel market, increased demand for UV LED-based disinfection systems amid COVID-19, and recent government initiatives and regulations promoting use of LEDs for energy efficiency and environmental benefits.
COVID-19 sent both demand-side and supply-side shocks across the global economy. Leading LED package providers, such as OSRAM (Germany) and Seoul Semiconductor (South Korea), have incurred significant losses owing to the pandemic. Both companies have reported a decline of approximately 9% and 10%, respectively, in their 2020 half-year revenue as compared to the previous year. Gov
LED Packaging Market worth $22 1 billion by 2026 sandiegosun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sandiegosun.com Daily Mail and Mail on Sunday newspapers.
Power Magnetics for MV AC Drive Market to Exhibit 5.4% CAGR by 2027 Backed by Favorable Government Policies to Support Green Energy Applications, says Fortune Business Insights™ Key Companies Covered in Power Magnetics for MV AC Drive Market Research Report are Schaffner Holding AG,Tamura Corporation, Torytrans, AQ trafotek Oy, Hans von Mangoldt GmbH,mDexx, Bourns, Inc., RoMan Manufacturing, Inc., Danfoss, Hammond Power Solutions, Controlled Magnetics, Inc., TCI, LLC, Badger Magnetics, Inc., MGM Transformer Company, L/C Magnetics
February 02, 2021 04:23 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Feb. 02, 2021 (GLOBE NEWSWIRE) The global
power magnetics for MV AC drive market size is expected to showcase exponential growth by reaching USD 1.48 billion by 2027 while exhibiting a CAGR of 5.4% between 2020 and 2027. The growth is attributable to the favorable government policies supporting green e
Variable Frequency Drive (VFD) Market Worth $24.3 Billion by 2025 - Exclusive Report by MarketsandMarkets Variable Frequency Drive (VFD) Market by Type (AC, DC, and Servo), End-Users (Industrial, Infrastructure, Oil & Gas, and Power Generation), Application (Pumps, Fans, Compressors, and Conveyors), Power Range, Voltage, and Region - Global Forecast to 2025 , published by MarketsandMarkets, the global Variable Frequency Drive Market is projected to reach USD 24.3 billion by 2025 from an estimated USD 19.2 billion in 2020, at a CAGR of 4.8% during the forecast period. This growth can be attributed to factors such as growing regulations towards energy efficiency, upgradation & modernization of aging infrastructure for safe & secure electrical distribution systems, and increasing rate of industrialization and urbanization. However, stagnant growth of the oil & gas industry and decrease in the exploration & production activity is hindering the growth of the Variable Frequency Drive M