Variable Frequency Drive Market Expected to Reach $32.8 Billion by 2031 | ABB Ltd., Eaton, General Electric, Hitachi Ltd

The Global Variable Frequency Drive Market reached US$ 20.2 billion in 2022 and is expected to reach US$ 32.8 billion by 2031, growing with a CAGR of 5.8% during the forecast period 2024-2031.

Variable Frequency Drive Market analysis, according to DataM Intelligence, offers more than just an overview, it investigates the underlying aspects of the sector. The study provides an overview, the research explores the hidden aspects of the sector, breaking down its intricate dynamics, charting regional dominance, spotting demand patterns, and spotting prospective breakthroughs that could influence how businesses operate in the future.

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The Variable Frequency Drive market report majorly focuses on market trends, historical growth rates, technologies, and the changing investment structure. Additionally, the report shows the latest market insights, increasing growth opportunities, business strategies, and growth plans adopted by major players. Moreover, it contains an analysis of current market dynamics, future developments, and Porter's Five Forces Analysis.

A Variable Frequency Drive (VFD) is an electronic device used to control the speed and torque of an electric motor by adjusting the frequency and voltage supplied to it. VFDs are commonly used in industrial and commercial applications to improve energy efficiency, reduce mechanical stress on equipment, and provide precise motor control. By varying the motor speed, VFDs help optimize performance, reduce energy consumption, and extend the lifespan of motors and associated machinery. They are widely used in applications like pumps, fans, conveyors, and HVAC systems.

Forecast Growth Projected:

The Global Variable Frequency Drive Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

List of the Key Players in the Variable Frequency Drive Market:

ABB Ltd., Eaton, General Electric, Hitachi Ltd., Rockwell Automation Inc., Schneider Electric, Siemens AG, The Danfoss Group, WEG S.A. and Yaskawa Electric Corporation

Segment Covered in the Variable Frequency Drive Market:

By Type: AC Drive, DC Drive, Servo Drive

By Voltage: Low Voltage, Medium Voltage, High Voltage

By Industrial Rating: Low Power, Medium Power, High Power

By Application: Pumps, Fans, Compressors

By End-User: Oil & Gas, Industrial, Others

Industry Development:

In April 2022, ABB Ltd., a Swedish-Swiss multinational company, launched the compact, fully integrated medium voltage VFD ACS1000i. This new drive includes a combined input transformer, input contactor, and auxiliary industrial supply, designed to meet the space constraints of the water and industrial industries.

Also in April 2022, Rockwell Automation Inc., a leading provider of industrial automation and digital transformation solutions in the U.S., introduced the Allen-Bradley Armour Industrialflex AC VFD. This on-machine motor drive simplifies commissioning, enables predictive maintenance, and accelerates installation, helping industrial enterprises reduce costs and streamline equipment design and deployment.

In February 2022, Mitsubishi Electric Corporation, a Japanese multinational electronics and electrical equipment company, announced the release of a half-bridge driver high-voltage integrated circuit (HVIC) with a built-in bootstrap diode (BSD) function. This new HVIC is designed to reduce the number of components in inverter systems, powering industrial semiconductors in low-capacity inverter applications.

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Regional Break out:

The global Variable Frequency Drive Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Variable Frequency Drive manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Variable Frequency Drive in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Variable Frequency Drive market?

➠ Who are the global key manufacturers of the Variable Frequency Drive Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Variable Frequency Drive market opportunities and threats faced by the vendors in the global Variable Frequency Drive Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Variable Frequency Drive market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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