Global Variable Frequency Drives Market 2023-2027
The variable frequency drives market is forecasted to grow by USD 7124.1 mn during 2022-2027, accelerating at a CAGR of 5.5% during the forecast period. The report on the variable frequency drives market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by presence of regulations that mandate use of variable frequency drives in industries, and the growing need for energy-efficient equipment.
Technavio's variable frequency drives market is segmented as below:
By End-user
- Food and beverage
- Water and wastewater treatment
- Oil and gas
- Power generation
- Automotive and others
By Type
- Low voltage drives
- Medium voltage drives
By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the technological advances in variable frequency drives as one of the prime reasons driving the variable frequency drives market growth during the next few years. Also, integration of IoT in variable frequency drives and increased need for compact and integrated drive systems will lead to sizable demand in the market.
The report on the variable frequency drives market covers the following areas:
- Variable frequency drives market sizing
- Variable frequency drives market forecast
- Variable frequency drives market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading variable frequency drives market vendors that include ABB Ltd., Danaher Corp., Danfoss AS, Eaton Corp. Plc, Emerson Electric Co., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc, Mitsubishi Electric Corp., Nidec Corp., Rockwell Automation Inc., Schaffner Group, Schneider Electric SE, Siemens AG, Spoc Automation Inc., Toshiba Corp., WEG Equipamentos Eletricos S.A., and Yaskawa Electric Corp.. Also, the variable frequency drives market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.