Variable Speed Drive Market to be Worth $26,544 million by 2023 | Major Players are ABB Ltd., Siemens AG, Rockwell Automation, Inc., Yaskawa Electric Corporation, General Electric, Crompton Greaves

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%.

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.

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.

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Increase in urbanization and industrialization in the emerging countries such as India, China, Brazil, and others drive the demand for the variable speed drive market. Further, the growth in need for energy efficiency, rise in trend of industrial automation, and reduction in operating costs of any intensive industry fuel the market growth. However, high cost of deployment is expected restrain the growth of the 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.

Key Benefits from this report

• This study comprises analytical depiction of the global variable speed drive market with current trends and future estimations to portray the imminent investment pockets.

• The overall market potential is determined to understand the profitable trends to gain a stronger foothold.

• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.

• The current market is quantitatively analyzed from 2017 to 2023 to highlight the financial competency of the market.

• Porters Five Forces analysis illustrates the potency of the buyers and suppliers in the industry.

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Variable Speed Drive Market Key Segments:

By Type

• AC Drive
• DC Drive
• Servo Drive

By Voltage

• Low Voltage
• Medium Voltage

By Application

• Compressor
• Pump
• Fans
• Others

By End User

• Automotive
• Electronics
• Oil & Gas
• Power Generation
• Others

By Region

• North America

o U.S.
o Canada
o Mexico

• Europe

o UK
o Germany
o France
o Russia
o Rest of Europe

• Asia-Pacific

o China
o India
o Japan
o Australia
o Rest of Asia-Pacific

• LAMEA

o Latin America
o Middle East
o Africa

Read Press Release on this Market: https://www.whatech.com/market-research/industrial/648706-variable-speed-drive-market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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