Press release
Variable Frequency Drives: Core Growth Enabler in the Government Energy Efficiency Regulations Drive Growth In Variable Frequency Drives Market Market, 2025
Variable Frequency Drives
What Will the Variable Frequency Drives Industry Market Size Be by 2025?
In recent times, there has been a robust growth in the market size of variable frequency drives. An increase from $19.83 billion in 2024 to $20.89 billion in 2025 is expected, which translates to a compound annual growth rate (CAGR) of 5.4%. Factors driving this growth include the increasing demand for energy efficiency and optimization in processes, the adoption of automation and the initiatives of Industry 4.0, quick expansion of the electric vehicle industry, extended industrial applications, diversification of the market, and cost savings.
What's the Long-Term Growth Forecast for the Variable Frequency Drives Market Size Through 2029?
The market size of variable frequency drives is anticipated to witness robust growth in the forthcoming years, expanding to $26.74 billion in 2029 with a compound annual growth rate (CAGR) of 6.4%. This progressive growth during the predicted period can be ascribed to the escalating demand for condition-based maintenance, global industrialization, initiatives to decrease carbon emissions, governmental incentives, and the inclusion of more renewable energy. Leading trends for the predicted period encompass retrofitting and modernization, smart and digitalized variable frequency drives, incorporation of industry 4.0, customized variable frequency drives solutions, and regenerative variable frequency drives.
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What Are the Key Growth Drivers Fueling the Variable Frequency Drives Market Expansion?
The expansion of the market is being propelled by the growing requirement and governmental policies for energy efficiency in various fields. Worldwide, industries are intensifying their efforts to utilise energy more efficiently. Similarly, globe-wide government bodies are implementing stringent regulations for industries to conserve energy. Variable frequency drives are acknowledged for their energy efficiency and ease of use, making them a vital tool in reducing industrial energy consumption. An example is the Energy Conservation Building Code (ECBC) in India which enforces minimum energy criteria for newly constructed commercial facilities with a connected load of 100kW or a contract demand of 120 KVA or more. Therefore, the escalating governmental efficiency regulations are expected to stimulate the growth of the variable frequency drives market.
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What Are the Key Trends Driving Variable Frequency Drives Market Growth?
Numerous businesses in the variable frequency drives market are focusing on creating intelligent variable frequency drives (IVFDs) to amplify their clients' experience. These advanced devices, known as IVFDs, control electric motors' velocity and torque, embedding smart features to enhance performance and efficiency. For instance, Danfoss, a manufacturing company based in Denmark, unveiled iC2 and iC7 in June 2024. The iC2 drive boosts efficiency up to 40% and is compatible with a variety of motor types, making it apt for activities like material handling, and regulating fans and pumps. It is designed compactly, offering an effortless retrofit for the VLC Micro Drive FC51. Meanwhile, the iC7 drive manages energy consumption in different settings, including process controls and packaging. It holds the distinction of being the first-ever AC drive designed with embedded security to ensure data safety. Both these drives are designed to uplift operational efficiency and promote sustainability across various industrial sectors.
How Is the Variable Frequency Drives Market Segmented?
The variable frequency drives market covered in this report is segmented -
1) By Type: AC Drives, DC Drives, Servo Drives
2) By Power Rating: Low Power Rating, Medium Power Rating, Micro Power Rating, High Power Rating
3) By Application: Pumps, Fans, Compressors, Conveyors, Other Applications
4) By End-user: Food And Beverages, Oil And Gas, Power Generation, Infrastructure, Other End Users
Subsegments:
1) By AC Drives: V/F Control Drives, Vector Control Drives, Servo Control Drives
2) By DC Drives: Chopper Drives, Linear DC Drives
3) By Servo Drives: Brushless Servo Drives, Brush Servo Drives
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Which Companies Are Leading the Charge in Variable Frequency Drives Market Innovation?
Major companies operating in the variable frequency drives market include Eaton Corporation, Hitachi Hi-Rel Power Electronics, Rockwell Automation, Johnson Controls, Anaheim Automation, Werner Electric GmbH, ASEA Brown Boveri, Nidec Motor Corporation, Siemens AG, Danfoss, Honeywell International, Toshiba Mitsubishi-Electric Industrial Systems Corporation, Fuji Electric Corp, Schneider Electric, Yaskawa Electric Corporation, General Electric, Delta Electronics, Phase Technologies LLC., Inovance Technology, GE Power Conversion, Shenzhen INVT Electric Co. Ltd., Hiconics Eco-energy Technology, VEICHI Electric Co. Ltd., HopeSenlan Science and Technology, EURA Drives GmbH, POWTRAN Technology Co. Ltd., Sichuan Jialing Electric Power Co. Ltd.
Which Regions Are Leading the Global Variable Frequency Drives Market in Revenue?
Asia-Pacific was the largest region in the variable frequency drives market share in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the variable frequency drives market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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