Variable Frequency Drives Market Report 2023 | Insights, Analysis, And Forecast 2032

Variable Frequency Drives Market Segments

The Business Research Company segments it’s variable frequency drives market report as:

Ac Drives, Dc Drives, Servo Drives By Type

Rating By Power Rating

Low Power Rating, Medium Power Rating, Micro Power Rating, High Power

Pumps, Fans, Compressors, Conveyors By Application

Food And Beverages, Oil And Gas, Power Generation, Infrastructure By End-user

Market Statistics

The global variable frequency drives market size grew from $17.65 billion in 2022 to $18.84 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The variable frequency drives market size is expected to grow to $24.55 billion in 2027 at a CAGR of 6.9%. Click

Global Variable Frequency Drives Market Size Forecast To 2032

Key Market Drivers And Trends

Drivers

Increasing need and government regulations for energy efficiency across various industries are driving the growth of the market.

Trends

Technological advancements are the main trend that is gaining popularity in the variable frequency drives market.

Region

Asia-Pacific was the largest region in the variable frequency drives market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in the variable frequency drives report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Key Market Players

Major players in the variable frequency drives market are:

▪ Eaton Corporation

▪ Hitachi Hi-rel Power Electronics

▪ Rockwell Automation

▪ Johnson Controls

▪ Anaheim Automation

▪ And more.

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