Table of Content

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 DEFINITION 14
1.3 MARKET SCOPE 15
1.3.1 MARKET SEGMENTATION 15
1.4 YEARS CONSIDERED FOR THE STUDY 15
1.5 CURRENCY 16
1.6 LIMITATIONS 16
1.7 STAKEHOLDERS 16

2 RESEARCH METHODOLOGY 17
2.1 MARKET SIZE ESTIMATION 17
2.1.1 IDEAL DEMAND-SIDE ANALYSIS 17
2.1.1.1 Assumptions 17
2.1.2 SUPPLY-SIDE ANALYSIS 18
2.1.2.1 Calculation 18
2.1.3 FRAMEWORK OF MARKET ASSESSMENT 18
2.1.4 FORECAST 19
2.2 SOME OF THE INSIGHTS OF INDUSTRY EXPERTS 19

3 EXECUTIVE SUMMARY 20

4 PREMIUM INSIGHTS 23
4.1 ATTRACTIVE OPPORTUNITIES IN THE EUROPE VARIABLE FREQUENCY DRIVES MARKET 23
4.2 EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY COUNTRY 23
4.3 EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION & COUNTRY 24
4.4 EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 24
4.5 EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY POWER RATING 25

5 MARKET OVERVIEW 26
5.1 INTRODUCTION 26
5.2 MARKET DYNAMICS 26
5.2.1 DRIVERS 27
5.2.1.1 Increased use of variable frequency drives across major industries 27
5.2.1.2 Rising need for energy efficiency 27
5.2.1.3 Supportive regulatory environment 28
5.2.2 RESTRAINTS 28
5.2.2.1 Stagnant growth of the oil & gas industry 28
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5.2.3 OPPORTUNITIES 29
5.2.3.1 Aging power infrastructure 29
5.2.3.2 Industrial Internet of Things (IIoT) 29
5.2.4 CHALLENGES 29
5.2.4.1 Gray market providing low-quality and cheap products 29

6 EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 30
6.1 INTRODUCTION 31
6.2 LOW VOLTAGE (UP TO 690 V) 32
6.2.1 INCREASING USAGE OF VARIABLE FREQUENCY DRIVES IN MINING, PULP & PAPER, WATER & WASTEWATER, AND OIL & GAS INDUSTRIES IS EXPECTED TO BOOST THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN THE LOW VOLTAGE SEGMENT 32
6.3 MEDIUM VOLTAGE (ABOVE 690 V) 34
6.3.1 LOW MAINTENANCE AND OPERATING COST OF MEDIUM VOLTAGE VARIABLE FREQUENCY DRIVES IN CEMENT AND STEEL INDUSTRIES ARE EXPECTED TO DRIVE THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN THE MEDIUM VOLTAGE SEGMENT 34

7 EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY POWER RATING 36
7.1 INTRODUCTION 37
7.2 0–0.5 KW 38
7.2.1 RISING URBANIZATION AND INDUSTRIALIZATION ARE THE VITAL FACTORS THAT DRIVE THE GROWTH OF THIS SEGMENT 38
7.3 0.5–20 KW 39
7.3.1 HIGH ENERGY SAVINGS AT LOW CAPITAL COST INCREASE THE DEMAND FOR THIS SEGMENT 39
7.4 20–50 KW 41
7.4.1 HEALTHCARE AND HOME APPLIANCE INDUSTRIES ARE DRIVING THE DEMAND FOR THIS SEGMENT 41
7.5 50–200 KW 42
7.5.1 HIGH-POWER DRIVES ARE LIKELY TO BOOST THE DEMAND FOR THIS SEGMENT 42
7.6 ABOVE 200 KW 43
7.6.1 HIGH-POWER APPLICATIONS ARE EXPECTED TO DRIVE THIS SEGMENT 43

8 EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION 45
8.1 INTRODUCTION 46
8.2 PUMP 47
8.2.1 INCREASING PUMP EXPORT AND ITS USE IN VARIOUS INDUSTRIES ARE LIKELY TO DRIVE THE PUMP SEGMENT 47
8.3 FAN 48
8.3.1 GROWING DEMAND FOR FANS IN HVAC AND LOW MAINTENANCE REQUIREMENTS ARE EXPECTED TO DRIVE THE FAN SEGMENT 48
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8.4 COMPRESSOR 50
8.4.1 OIL & GAS, FOOD & BEVERAGE, AND BUILDING AUTOMATION ARE THE INDUSTRIES THAT ARE DRIVING THE DEMAND FOR COMPRESSORS 50
8.5 CONVEYOR 51
8.5.1 MINING, PHARMACEUTICALS, MANUFACTURING, AND TRANSPORTATION ARE THE INDUSTRIES THAT ARE DRIVING THE DEMAND FOR CONVEYORS 51
8.6 EXTRUDER 52
8.6.1 PLASTIC AND FOOD PROCESSING ARE THE INDUSTRIES THAT ARE DRIVING THE DEMAND FOR EXTRUDERS 52
8.7 OTHERS 53
8.7.1 FEATURES SUCH AS LOW MAINTENANCE AND REDUCTION IN MECHANICAL STRESS ARE EXPECTED TO DRIVE THE CRUSHERS & MILLS AND MIXERS MARKET 53

9 EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY COUNTRY 55
9.1 INTRODUCTION 56
9.2 GERMANY 58
9.2.1 INCREASING INVESTMENTS IN ENERGY & CONSTRUCTION INDUSTRIES ARE LIKELY TO DRIVE THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN GERMANY 58
9.3 UK 60
9.3.1 INCREASING DEMAND FOR RENEWABLE POWER GENERATION IN CHEMICAL AND FOOD & BEVERAGE INDUSTRIES IS EXPECTED TO BOOST THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN THE UK 60
9.4 RUSSIA 62
9.4.1 GROWING INDUSTRIAL SECTOR & INCREASING INVESTMENTS IN ENERGY PROJECTS ARE THE DRIVERS FOR THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN RUSSIA 62
9.5 FRANCE 64
9.5.1 TARGET TO REDUCE GREENHOUSE GAS EMISSIONS IS LIKELY TO BOOST THE DEMAND FOR VARIABLE FREQUENCY DRIVES IN FRANCE 64
9.6 ITALY 66
9.6.1 GROWING INDUSTRIAL SECTOR & INVESTMENTS IN THE OIL & GAS INDUSTRY ARE EXPECTED TO INCREASE THE DEMAND FOR VARIABLE FREQUENCY DRIVES IN ITALY 66
9.7 SPAIN 68
9.7.1 RISING EXPORT DEMAND IN PHARMACEUTICAL & AUTOMOBILE INDUSTRIES IS EXPECTED TO BOOST THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN SPAIN 68
9.8 REST OF EUROPE 70
9.8.1 INCREASE IN FOCUS ON RENEWABLE ENERGY SOURCES FOR POWER GENERATION IS EXPECTED TO DRIVE THE VFD MARKET 70
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10 COMPETITIVE LANDSCAPE 72
10.1 INTRODUCTION 72
10.2 MARKET SHARE ANALYSIS 73
10.3 COMPETITIVE SCENARIO 74
10.3.1 NEW PRODUCT LAUNCHES 74
10.3.2 CONTRACTS & AGREEMENTS 75
10.3.3 MERGERS & ACQUISITIONS 75
10.3.4 INVESTMENTS & EXPANSIONS 75
10.3.5 PARTNERSHIPS 75
10.4 COMPETITIVE LEADERSHIP MAPPING 76
10.4.1 VISIONARY LEADERS 76
10.4.2 INNOVATORS 76
10.4.3 DYNAMIC 76
10.4.4 EMERGING 76

11 COMPANY PROFILING 78
(Business overview, Products offered, Recent Developments, MNM view)*
11.1 ABB 78
11.2 EATON 81
11.3 SCHNEIDER 84
11.4 SIEMENS 86
11.5 DANFOSS 89
11.6 FUJI 92
11.7 ROCKWELL 94
11.8 YASKAWA 96
11.9 CG POWER AND INDUSTRIAL SOLUTIONS 98
11.10 HITACHI 100
11.11 WEG 103
11.12 TMEIC 107
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.

12 APPENDIX 109
12.1 INSIGHTS OF INDUSTRY EXPERTS 109
12.2 DISCUSSION GUIDE 110
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 113
12.4 AVAILABLE CUSTOMIZATIONS 115
12.5 RELATED REPORTS 115
12.6 AUTHOR DETAILS 116



List of Figures



FIGURE 1 EUROPE VARIABLE FREQUENCY DRIVES MARKET 18
FIGURE 2 GERMANY DOMINATED THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN TERMS OF CAGR (2019–2024) 21
FIGURE 3 PUMP SEGMENT IS EXPECTED TO LEAD THE EUROPE VARIABLE FREQUENCY DRIVES MARKET DURING THE FORECAST PERIOD 21
FIGURE 4 0.5–20 KW SEGMENT IS EXPECTED TO LEAD THE EUROPE VARIABLE FREQUENCY DRIVES MARKET DURING THE FORECAST PERIOD 22
FIGURE 5 LOW VOLTAGE SEGMENT IS EXPECTED TO LEAD THE EUROPE VARIABLE FREQUENCY DRIVES MARKET DURING THE FORECAST PERIOD 22
FIGURE 6 INCREASING INVESTMENTS IN ENERGY PROJECTS ARE DRIVING THE EUROPE VARIABLE FREQUENCY DRIVES MARKET, 2019–2024 23
FIGURE 7 THE MARKET IN GERMANY IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 23
FIGURE 8 PUMP SEGMENT AND GERMANY DOMINATED THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN 2018 24
FIGURE 9 LOW VOLTAGE SEGMENT IS EXPECTED TO DOMINATE THE EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE, DURING THE FORECAST PERIOD 24
FIGURE 10 0.5–20 KW SEGMENT IS EXPECTED TO DOMINATE THE EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY POWER RATING, DURING THE FORECAST PERIOD 25
FIGURE 11 EUROPE VARIABLE FREQUENCY DRIVES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, & CHALLENGES 26
FIGURE 13 CRUDE OIL PRICE TREND, 2014–2018 (USD PER BARREL) 28
FIGURE 14 LOW VOLTAGE SEGMENT ACCOUNTED FOR A LARGER MARKET SHARE IN 2018 31
FIGURE 15 0.5–20 KW LED THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN 2018 37
FIGURE 16 PUMP SEGMENT LED THE EUROPE VARIABLE FREQUENCY DRIVES MARKET BY APPLICATION, IN 2018 (USD MILLION) 46
FIGURE 17 COUNTRY SNAPSHOT: THE EUROPE VARIABLE FREQUENCY DRIVES MARKET IN GERMANY IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 56
FIGURE 18 EUROPE VARIABLE FREQUENCY DRIVES MARKET SHARE (VALUE) BY COUNTRY, 2018 56
FIGURE 19 KEY DEVELOPMENTS IN EUROPE VARIABLE FREQUENCY DRIVES MARKET DURING JANUARY 2015–FEBRUARY 2019 72
FIGURE 20 MARKET SHARE ANALYSIS, 2017 73
FIGURE 21 COMPETITIVE ANALYSIS AC DRIVES MARKET SHARE: EUROPE, 2017 73
FIGURE 22 EUROPE VARIABLE FREQUENCY DRIVES MARKET COMPETITIVE LEADERSHIP MAPPING, 2018 77
FIGURE 23 ABB: COMPANY SNAPSHOT 78
FIGURE 24 EATON: COMPANY SNAPSHOT 81
FIGURE 25 SCHNEIDER: COMPANY SNAPSHOT 84
FIGURE 26 SIEMENS: COMPANY SNAPSHOT 86
FIGURE 27 DANFOSS: COMPANY SNAPSHOT 89
FIGURE 28 FUJI: COMPANY SNAPSHOT 92
FIGURE 29 ROCKWELL: COMPANY SNAPSHOT 94
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FIGURE 30 YASKAWA: COMPANY SNAPSHOT 96
FIGURE 31 CG POWER AND INDUSTRIAL SOLUTIONS: COMPANY SNAPSHOT 98
FIGURE 32 HITACHI: COMPANY SNAPSHOT 100
FIGURE 33 WEG: COMPANY SNAPSHOT 103

 

List of Tables



TABLE 1 UNITS OF MOTORS SOLD ANNUALLY ARE THE DETERMINING FACTOR FOR THE EUROPE VARIABLE FREQUENCY DRIVES MARKET 17
TABLE 2 EUROPE VARIABLE FREQUENCY DRIVES MARKET SNAPSHOT 20
TABLE 3 EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY VOLTAGE 2017–2024 (UNITS) 31
TABLE 4 EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY VOLTAGE 2017–2024 (USD MILLION) 32
TABLE 5 LOW VOLTAGE: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY COUNTRY, 2017–2024 (UNITS) 33
TABLE 6 LOW VOLTAGE: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY COUNTRY, 2017–2024 (USD MILLION) 33
TABLE 7 MEDIUM VOLTAGE: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY COUNTRY, 2017–2024 (UNITS) 34
TABLE 8 MEDIUM VOLTAGE: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY COUNTRY, 2017–2024 (USD MILLION) 35
TABLE 9 EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING 2017–2024 (UNITS) 37
TABLE 10 EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING 2017–2024 (USD MILLION) 38
TABLE 11 0–0.5 KW: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY APPLICATION, 2017–2024 (UNITS) 38
TABLE 12 0–0.5 KW: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY APPLICATION, 2017–2024 (USD MILLION) 39
TABLE 13 0.5–20 KW: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY APPLICATION, 2017–2024 (UNITS) 40
TABLE 14 0.5–20 KW: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY APPLICATION, 2017–2024 (USD MILLION) 40
TABLE 15 20–50 KW: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY APPLICATION, 2017–2024 (UNITS) 41
TABLE 16 20–50 KW: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY APPLICATION, 2017–2024 (USD MILLION) 41
TABLE 17 50–200 KW: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY APPLICATION, 2017–2024 (UNITS) 42
TABLE 18 50–200 KW: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY APPLICATION, 2017–2024 (USD MILLION) 43
TABLE 19 ABOVE 200 KW: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY APPLICATION, 2017–2024 (UNITS) 43
TABLE 20 ABOVE 200 KW: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE BY APPLICATION, 2017–2024 (USD MILLIONS) 44
TABLE 21 EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY APPLICATION 2017–2024 (UNITS) 46
TABLE 22 EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY APPLICATION 2017–2024 (USD MILLION) 47
TABLE 23 PUMP: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (UNITS) 47
TABLE 24 PUMP: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (USD MILLION) 48
TABLE 25 FAN: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (UNITS) 49
TABLE 26 FAN: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (USD MILLION) 49
TABLE 27 COMPRESSOR: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (UNITS) 50
TABLE 28 COMPRESSOR: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (USD MILLION) 50
TABLE 29 CONVEYOR: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (UNITS) 51
TABLE 30 CONVEYOR: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (USD MILLION) 52
TABLE 31 EXTRUDER: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (UNITS) 52
TABLE 32 EXTRUDER: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (USD MILLION) 53
TABLE 33 OTHERS: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (UNITS) 54
TABLE 34 OTHERS: EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY POWER RATING, 2017–2024 (USD MILLION) 54
TABLE 35 EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY COUNTRY 2017–2024 (UNITS) 57
TABLE 36 EUROPE VARIABLE FREQUENCY DRIVES MARKET SIZE, BY COUNTRY 2017–2024 (USD MILLION) 57
TABLE 37 GERMANY: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION, 2017–2024 (UNITS) 58
TABLE 38 GERMANY: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION, 2017–2024 (USD MILLION) 59
TABLE 39 GERMANY: EUROPE VARIABLE FREQUENCY DRIVES MARKET BY VOLTAGE, 2017–2024 (UNITS) 59
TABLE 40 GERMANY: EUROPE VARIABLE FREQUENCY DRIVES MARKET BY VOLTAGE, 2017–2024 (USD MILLION) 59
TABLE 41 UK: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION 2017–2024 (UNITS) 60
TABLE 42 UK: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION 2017–2024 (USD MILLION) 61
TABLE 43 UK: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 2017–2024 (UNITS) 61
TABLE 44 UK: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 2017–2024 (USD MILLION) 61
TABLE 45 RUSSIA: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION, 2017–2024 (UNITS) 62
TABLE 46 RUSSIA: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION, 2017–2024 (USD MILLION) 63
TABLE 47 RUSSIA: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 2017–2024 (UNITS) 63
TABLE 48 RUSSIA: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 2017–2024 (USD MILLION) 63
TABLE 49 FRANCE: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION, 2017–2024 (UNITS) 64
TABLE 50 FRANCE: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION, 2017–2024 (USD MILLION) 65
TABLE 51 FRANCE: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 2017–2024 (UNITS) 65
TABLE 52 FRANCE: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 2017–2024 (USD MILLION) 65
TABLE 53 ITALY: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION 2017–2024 (UNITS) 66
TABLE 54 ITALY: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION 2017–2024 (USD MILLION) 67
TABLE 55 ITALY: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 2017–2024 (UNITS) 67
TABLE 56 ITALY: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 2017–2024 (USD MILLION) 67
TABLE 57 SPAIN: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION 2017–2024 (UNITS) 68
TABLE 58 SPAIN: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY APPLICATION 2017–2024 (USD MILLION) 69
TABLE 59 SPAIN: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 2017–2024 (UNITS) 69
TABLE 60 SPAIN: EUROPE VARIABLE FREQUENCY DRIVES MARKET, BY VOLTAGE 2017–2024 (USD MILLION) 69
TABLE 61 REST OF EUROPE: EUROPE VARIABLE FREQUENCY DRIVES MARKET BY APPLICATION, 2017–2024 (UNITS) 70
TABLE 62 REST OF EUROPE: EUROPE VARIABLE FREQUENCY DRIVES MARKET BY APPLICATION, 2017–2024 (USD MILLION) 71
TABLE 63 REST OF EUROPE: EUROPE VARIABLE FREQUENCY DRIVES MARKET BY VOLTAGE, 2017–2024 (UNITS) 71
TABLE 64 REST OF EUROPE: EUROPE VARIABLE FREQUENCY DRIVES MARKET BY VOLTAGE, 2017–2024 (USD MILLION) 71
TABLE 65 DEVELOPMENTS BY KEY PLAYERS IN THE MARKET, 2015–FEBRUARY 2019 74