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Variable Frequency Drive Market is Expected to Reach $26.8 Billion in 2027 at a CAGR of 4.8%

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Variable Frequency Drive Market is Expected to Reach $26.8 Billion in 2027 at a CAGR of 4.8%

May 10
20:27 2022
Variable Frequency Drive Market is Expected to Reach $26.8 Billion in 2027 at a CAGR of 4.8%
The major players in the variable frequency drive market are ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Danfoss (Denmark), and Rockwell Automation (US).
The government regulations related to energy efficiency and the growing use of variable frequency drives to reduce energy consumption and enhance the efficiency of systems are projected to create lucrative growth opportunities for the variable frequency drive market players.

According to the new market research reportVariable Frequency Drive Market by Type (AC, DC, Servo), Application (Pumps, Fans, Compressors, Conveyors), End User (Industrial, Infrastructure, Oil & Gas, Power), Power Rating (Micro, Low, Medium, High), Voltage and Region – Global Forecast to 2027″, is expected to grow at a CAGR of 4.8% during the forecast period, from an estimated USD 21.2 billion in 2022 to USD 26.8 billion in 2027. Variable frequency drives are increasingly being used in the industrial and infrastructure sectors. Major industries that use variable frequency drives are cement, chemical, petrochemical, mining, oil & gas, pulp & paper, and water & wastewater treatment. Variable frequency drives find applications in conveyors, fans, utility pumps, process pumps, fans, blowers, air compressors, process compressors, coolers, cooling tower fans, grinders, crushers, and chippers.These factor would drive the demand for variable frequency drive.

Browse 182 market data Tables and 60 Figures spread through 253 Pages and in-depth TOC on “Variable Frequency Drive Market – Global Forecast to 2027”

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The AC Drive segment, by type, is expected to be the most significant variable frequency drive market during the forecast period

The variable frequency drive market for the AC drive segment is estimated to account for the highest share of the overall market in 2021. The growth of this segment can be attributed to the growing use of AC drives in variable torque applications in various industries, such as oil & gas, water & wastewater, and mining, as they require less maintenance.

The low voltage segment is anticipated to be the fastest-growing variable frequency drive market by voltage type, during the forecast period

The variable frequency drive market for the low voltage segment is expected to dominate the overall market during the review period. The growth of this segment can be attributed to the increasing demand for low voltage variable frequency drives in various process industries, such as pulp & paper, power generation, water & wastewater treatment, and oil & gas.

Asia Pacific is expected to dominate the global variable frequency drive market during the forecast period

In this report, the variable frequency drive market has been analyzed for 6 regions, namely Asia Pacific, North America, Europe, Middle East, Africa, and  South America. Asia Pacific is expected to lead the market during the forecast period.

The variable frequency drive market in Asia Pacific is witnessing significant developments in the in the power generation and manufacturing sector due to industrialization, which has supported the demand for variable frequency drives across countries of the region. The industrial sector in China contributes more than 50% of its GDP, and the growth of this sector has tremendously increased power production and consumption in the country. These factors have made China one of the most lucrative markets for the power industry. Moreover, the chemicals and petrochemical sectors are also well-established in the region and are expected to contribute to the growth of the variable frequency drive market.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the variable frequency drive market. These include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Danfoss (Denmark), and Rockwell Automation (US). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.

Browse Related Report:

Servo Motors and Drives Market by Offering (Hardware, Software and Services), Product Type (Servo Motors, Servo Drives), System, Voltage, Communication Protocol, Brake Technology, Material of Construction, Industry, and Region – Global Forecast to 2025

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