Global Variable Frequency Drive Market report |Market Size, Market Share, Market Trends, and Forecast: 2023-2030

The global variable frequency drive market is expected to reach US$ 40.1 billion by 2030, with an annual growth rate of more than 5.6%.

According to RationalStat's recent industry analysis, the Global Variable Frequency Drive Market value is estimated at US$ 27.4 billion in 2023 and is expected to rise at a strong CAGR of over 5.6% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

Variable frequency drives (VFDs) were experiencing global growth and adoption in various industries. VFDs, also known as adjustable frequency drives or inverters, are devices used to control the speed of electric motors by adjusting the frequency and voltage of the power supplied to them.
The energy savings achieved through the use of VFDs contribute to cost reduction for businesses. As energy costs continue to be a significant concern for industries, the potential for cost savings is a driving factor in the adoption of VFDs.

According to a deep-dive market assessment by RationalStat, the global variable frequency drive market has been analyzed on the basis of market segments, including product type, power range, application, end use and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global variable frequency drive market covers market sizes on the basis of market value (US$/EUR Million), volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global variable Frequency Drive market. It also includes the industry's current state - Production levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Variable Frequency Drive Market: Segmental and Market Share Analysis

• On the basis of product, AC drives segment accounted for a revenue share exceeding 68% in 2022. This growth can be attributable to the benefits of AC drives such as providing high power easy installation compared to others.

• Based on power range, low-power range type dominated the power range segment accounting for more than 40% in 2022. Many end-use industries use low-voltage frequency.

Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 27.4 Billion
Market Size Forecast US$ 40.1 Billion
Growth Rate 5.6%
Dominant Segment Low (6-40 kW)
Dominant Region North America

Key Market Drivers
• Global infrastructure development
• Rise of industrial automation

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

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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players.

• In October 2022: Rockwell Automation Inc. revealed that the output frequency of its variable frequency drive, which is used in high-speed motor applications, has been raised.

Some of the prominent players and suppliers operating and contributing significantly to the global Variable Frequency Drive market growth include ABB, Eaton, General Electric, Hitachi Ltd., Rockwell Automation Inc, Schneider Electric, Siemens AG, The Danfoss Group, WEG S.A., and Yaskawa Electric Corporation., among others.

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RationalStat has segmented the global variable frequency drive market based on product type, power range, application, end use and region
• Global Variable Frequency Drive Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Product Type
o AC Drives
o DC Drives
o Servo Drives
• Global Variable Frequency Drive Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Power Range
o Micro (0-5 kW)
o Low (6-40 kW)
o Medium (41-200 kW)
o High (>200 kW)
• Global Variable Frequency Drive Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Application
o Pumps
o Electric Fans
o Conveyors
o HVAC
o Extruders
• Global Variable Frequency Drive Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by End Use
o Oil & Gas
o Power Generation
o Industrial
o Infrastructure
o Automotive
o Food & Beverages
• Global Variable Frequency Drive Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Region
o North America Variable Frequency Drive Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 US
 Canada
o Latin America Variable Frequency Drive Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Variable Frequency Drive Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Variable Frequency Drive Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Variable Frequency Drive Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Variable Frequency Drive Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Variable Frequency Drive Report:
• What will be the market value of the global Variable Frequency Drive market by 2030?
• What is the market size of the global Variable Frequency Drive market?
• What are the market drivers of the global Variable Frequency Drive market?
• What are the key trends in the global Variable Frequency Drive market?
• Which is the leading region in the global Variable Frequency Drive market?
• What are the major companies operating in the global Variable Frequency Drive market?
• What are the market shares by key segments in the global Variable Frequency Drive market?

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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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