Global Variable Frequency Drives Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Published : 30 Aug 2024

Report Type : Global

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Global Variable Frequency Drives Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Variable Frequency Drive(VFD) is used in electromechanical systems helps in varying the voltage, frequency supplied to the electromechanical drive systems. About 30% of electricity across the globe is utilised by motors in various Industrial Internet of things and could be energy efficient by using Variable Frequency Drive. VFD is also named as variable speed drive used to accelerate and decelerate the speed and torque of AC electric motor. Raise in demand for energy saving machinery and to protect the Industrial equipment’s or electronic gadgets from electric faults such as short circuits, electric fluctuations are the factors accelerated the growth of the VFDs market. A decrease in Green Field Investments and competition among the regional players are challenges facing the VFD market.

Global Variable Frequency Drives

Global Variable Frequency Drives Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

market size:

Global variable frequency drives market size is projected to reach approximately $xx billion by the end of 2024 with a CAGR of close to 5.95% from $xx billion in 2017 during the forecast timeline 2018-2024. The decrease in cost and size of the VFD and increase the performance raised the market over the past four decades and is expected the same market value during the forecast period. The increase of use in various types of VFD at various voltage and power ranges among various applications in Industrial segment leads to the growth of the market. Variable frequency drives are also used in HVAC control system, Food and Beverage Industries, Pulp and other are the key factors accelerating the market growth.

Global to decrease the

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Global Variable Frequency Drives Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

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