Variable Speed Drive Market Leading Players Such as ABB Ltd., Siemens AG, Rockwell Automation, Inc., Yaskawa Electric Corporation, General Electric, Crompton Greaves, WEG, Schneider, Emerson Electric, and Danfoss
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North America is dominate the global variable speed drive market during the forecast period. In addition, in 2016, China dominated the market in Asia-Pacific. Similarly, the U.S. is expected to dominate the market in North America, and the UK is projected to lead in the European region during the forecast period.
According to a recent report published by Allied Market Research, titled, Variable Speed Drive Market by Type, Voltage, Application, and End User System: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global variable speed drive market was valued at $18,004 million in 2016, and is projected to reach at $26,544 million by 2023, growing at a CAGR of 5.6% from 2023 to 2026.
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At present, North America dominates this market. In 2023, China is expected to register the highest growth in Asia-Pacific. Similarly, the UK is expected to lead the overall market in the European region during the forecast period. Presently, the U.S. is expected to dominate the North American market.
In 2016, the low voltage segment dominated the global variable speed drive market, in terms of revenue. However, based on application system, pump is projected to dominate the global market, followed by fan in 2023.
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The key players profiled in the report include ABB Ltd., Siemens AG, Rockwell Automation, Inc., Yaskawa Electric Corporation, General Electric, Crompton Greaves, WEG, Schneider, Emerson Electric, and Danfoss.
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