Variable Frequency Drive Trends and Forecast
The future of the global variable frequency drive market looks promising with opportunities in the oil & gas, power generation, industrial, infrastructure, automotive, and food & beverage markets. The global variable frequency drive market is expected to reach an estimated $31.8 billion by 2030 with a CAGR of 5.6% from 2024 to 2030. The major drivers for this market are boosting financial support for the development of infrastructure, growing number of linked devices in the commercial, industrial, and residential domains combined with technological improvements, along with the increase in the need for electrical equipment to use energy efficiently.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Variable Frequency Drive by Segment
The study includes a forecast for the global variable frequency drive by product type, power range, application, end use industry, and region.
Variable Frequency Drive Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
• AC Drives
• DC Drives
• Servo Drives
Variable Frequency Drive Market by Power Range [Shipment Analysis by Value from 2018 to 2030]:
• Micro (0-5 Kw)
• Low (6-40 Kw)
• Medium (41-200 Kw)
• High (>200 Kw)
Variable Frequency Drive Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Pumps
• Electric Fans
• Conveyors
• HVAC
• Extruders
• Others
Variable Frequency Drive Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
• Oil & Gas
• Power Generation
• Industrial
• Infrastructure
• Automotive
• Food & Beverages
• Others
Variable Frequency Drive Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Variable Frequency Drive Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies variable frequency drive companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the variable frequency drive companies profiled in this report include-
• ABB
• Eaton
• General Electric
• Hitachi
• Rockwell Automation
• Schneider Electric
• Siemens AG
• The Danfoss Group
• WEG S.A.
• Yaskawa Electric Corporation
Variable Frequency Drive Market Insights
Lucintel forecasts that ac drive is expected to witness the highest growth over the forecast period due to advantages of AC drives are their high power output, ease of installation in comparison to other types, and low maintenance requirements.
Within this market, oil and gas will remain the largest segment because it depends on large pumps and motors to perform productive tasks including distribution, extraction, and pumping.
APAC is expected to witness highest growth over the forecast period due to rising industrialization in emerging nations, government policies that encourage industry, and a rise in building activity.
Features of the Global Variable Frequency Drive Market
Market Size Estimates: Variable frequency drive market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Variable frequency drive market size by product type, power range, application, end use industry, and region in terms of value ($B).
Regional Analysis: Variable frequency drive market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product type, power range, application, end use industry, and regions for the variable frequency drive market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the variable frequency drive market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the variable frequency drive market size?
Answer: The global variable frequency drive market is expected to reach an estimated $31.8 billion by 2030.
Q2. What is the growth forecast for variable frequency drive market?
Answer: The global variable frequency drive market is expected to grow with a CAGR of 5.6% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the variable frequency drive market?
Answer: The major drivers for this market are boosting financial support for the development of infrastructure, growing number of linked devices in the commercial, industrial, and residential domains combined with technological improvements, along with the increase in the need for electrical equipment to use energy efficiently.
Q4. What are the major segments for variable frequency drive market?
Answer: The future of the global variable frequency drive market looks promising with opportunities in the oil & gas, power generation, industrial, infrastructure, automotive, and food & beverage markets.
Q5. Who are the key variable frequency drive market companies?
Answer: Some of the key variable frequency drive companies are as follows:
• ABB
• Eaton
• General Electric
• Hitachi
• Rockwell Automation
• Schneider Electric
• Siemens AG
• The Danfoss Group
• WEG S.A.
• Yaskawa Electric Corporation
Q6. Which variable frequency drive market segment will be the largest in future?
Answer: Lucintel forecasts that ac drive is expected to witness the highest growth over the forecast period due to advantages of AC drives are their high power output, ease of installation in comparison to other types, and low maintenance requirements.
Q7. In variable frequency drive market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to rising industrialization in emerging nations, government policies that encourage industry, and a rise in building activity.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the variable frequency drive market by product type (AC drives, DC drives, and servo drives), power range (micro (0-5 kw), low (6-40 kw), medium (41-200 kw), and high (>200 kw)), application (pumps, electric fans, conveyors, HVAC, extruders, and others), end use industry (oil & gas, power generation, industrial, infrastructure, automotive, food & beverages, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Variable Frequency Drive Market, Variable Frequency Drive Market Size, Variable Frequency Drive Market Growth, Variable Frequency Drive Market Analysis, Variable Frequency Drive Market Report, Variable Frequency Drive Market Share, Variable Frequency Drive Market Trends, Variable Frequency Drive Market Forecast, Variable Frequency Drive Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.