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The advanced energy-saving features offered by variable frequency drives are surging their utilisation in HVAC systems. With the increasing use of HVAC variable frequency drives for network monitoring or equipment, fan and pump balancing, peak-shaving of equipment energy use, and modulation of multiple motors, among others, the market is expected to witness a healthy growth.
The development of advanced and cost-effective HVAC variable frequency drives with the reduced size is anticipated to provide further impetus to the market growth in the forecast period. In addition, advancements in variable frequency drive technology are prompting leading companies of HVAC to boost their investments, which is likely to drive the growth of HVAC variable frequency drive market in the coming years.
Mitsubishi Electric Corporation (OTCMKTS: MIELY), one of the leading companies in the market, introduced the FR-E800 Series, the latest addition to its line-up of variable frequency drives, in May 2020. It features a built-in PLC while including safety functionality to meet IEC 61508 standards. It also supports various networks, such as Ethernet/IP, MODBUS/TCP, as well as the soon-to-be-released CC-Link IE TSN. The series is designed for technology, engineering, and product managers in various industries such as the material handling, packaging, water and pumping, and food and beverage industries to boost the energy-efficiency.
Moreover, the series incorporates advanced capabilities and features extended programming functions, and auto-tuning of PM motors to meet or exceed energy-efficiency regulations. As the product features corrosion detection, lifetime diagnostics of critical components, and PM motor commutation, it is expected to make a significant impact on various industries, such as HVAC and manufacturing.
The major players in the global market are ABB Ltd., Siemens AG, Rockwell Automation, Inc., Mitsubishi Electric Corporation, and Yaskawa America Inc. – Drives and Motion Division, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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