Summary

Variable Frequency Drive Market Size, Share, and Analysis, By Product (AC Drives, DC Drives, and Servo Drive), By Power Range (Micro, Low, Medium, and High), By Application (Pumps, Electric Fan, HVAC, Extruders, Conveyors, and Others), By End User (Oil & Gas, Power Generation, Infrastructure, Food, and Beverages, Mining, and Others), By Region (North America, Europe, Asia-Pacific, And Rest of the World), And Regional Forecast 2024-2034

PRODUCT OVERVIEW
Variable Frequency Drive Market is estimated to grow at a CAGR of 5.5% in the forecast period (2024-2034), with the market size valued at USD 23.1 billion in 2023 and projected to reach USD 41.7 billion by 2034.
Variable frequency drive is an electronic device, that is used for regulating the speed and torque of an electric motor by adjusting the frequency and voltage supplied to it. This technology provides precise control over motor speed and contributes to the conservation of energy and less mechanical strain. Variable frequency drive controls the rotational speed of the motor by changing the electrical supply frequency to it, thus allowing for accurate modifications needed for a variety of applications. Furthermore, variable frequency drives are instrumental in achieving different speeds and improving energy usage across industrial sectors like manufacturing, HVAC systems, and pumping applications. Their capacity to enhance the performance and operational efficiency of motors makes them integral to control operations across industries.

MARKET HIGHLIGHTS
Variable Frequency Drive Market is anticipated to reach USD 41.7 billion, growing at a CAGR of 5.5% during the forecast period, owing to the high adoption of industrial automation and increasing focus on energy efficiency across diverse sectors. This growth is driven by the rising integration of variable frequency drive into manufacturing operations, to curb energy consumption and improve the efficiency of operations. Moreover, the demand for accurate control over motor speed and torque in applications such as HVAC systems and pumps is further promoting growth in the market. Besides, strict government regulations that demand energy efficiency and sustainability are forcing businesses to invest in variable frequency drives. Thus, the variable frequency drive market will experience growth as companies are seeking innovative solutions to improve productivity and reduce additional expenses.
Variable Frequency Drive Market Segments:

• By Product
o AC Drives
o DC Drives
o Servo Drive
• By Power Range
o Micro
o Low
o Medium
o High
• By Application
o Pumps
o Electric Fan
o HVAC
o Extruders
o Conveyors
o Others
• By End User
o Oil & Gas
o Power Generation
o Infrastructure
o Food and Beverages
o Mining
o Others

MARKET DYNAMICS
Growth Drivers
Technological Improvements Had a Positive Influence on the Growth of Variable Frequency Drives
Rise In Industrial Automation Has Influenced the Growth of the Industry
Restraint
High Initial Investment Costs in Comparison to Standard Motors Act as a Market Limitation

Key Players
• ABB Ltd.
• Eaton Corporation
• Rockwell Automation, Inc.
• Hitachi, Ltd.
• Siemens AG
• Danfoss Group
• Schneider Electric SE
• Mitsubishi Electric Corporation
• Yaskawa Electric Corporation
• Fuji Electric Co., Ltd.
• WEG S.A.
• Toshiba Corporation
• Emerson Electric Co.
• Nidec Corporation
• Delta Electronics, Inc
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)



Global Laboratory Temperature Control Units Market is further segmented by region into:
• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA


Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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Table of Contents

1.Executive Summary
1.1. Regional Market Share
1.2.Business Trends
1.3. Variable Frequency Drive Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. Research Methodology
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. Market Characteristics
3.1.Market Definition
3.2.Variable Frequency Drive Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.Variable Frequency Drive Market – Industry Insights
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. Macroeconomic Indicators
6. Recent Developments
7. Market Dynamics
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.Risk Analysis
9. Market Analysis
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.Variable Frequency Drive Market
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. Variable Frequency Drive Market Size & Forecast 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Product
11.3.1.1. AC Drives
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.DC Drives
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.3.Servo Drive
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Power Range
11.3.2.1.Micro
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Low
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Medium
11.3.2.3.1.By Value (USD Million) 2024-2034F
11.3.2.3.2. Market Share (%) 2024-2034F
11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.4. High
11.3.2.4.1.By Value (USD Million) 2024-2034F
11.3.2.4.2. Market Share (%) 2024-2034F
11.3.2.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By Application
11.3.3.1.Pumps
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Electric Fan
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.3. HVAC
11.3.3.3.1.By Value (USD Million) 2024-2034F
11.3.3.3.2. Market Share (%) 2024-2034F
11.3.3.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.4. Extruders
11.3.3.4.1.By Value (USD Million) 2024-2034F
11.3.3.4.2. Market Share (%) 2024-2034F
11.3.3.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.5. Conveyors
11.3.3.5.1.By Value (USD Million) 2024-2034F
11.3.3.5.2. Market Share (%) 2024-2034F
11.3.3.5.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.6. Others
11.3.3.6.1.By Value (USD Million) 2024-2034F
11.3.3.6.2. Market Share (%) 2024-2034F
11.3.3.6.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.By End User
11.3.4.1.Oil & Gas
11.3.4.1.1. By Value (USD Million) 2024-2034F
11.3.4.1.2.Market Share (%) 2024-2034F
11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.4.2. Power Generation
11.3.4.2.1.By Value (USD Million) 2024-2034F
11.3.4.2.2. Market Share (%) 2024-2034F
11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.3. Infrastructure
11.3.4.3.1.By Value (USD Million) 2024-2034F
11.3.4.3.2. Market Share (%) 2024-2034F
11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.4.Food and Beverages
11.3.4.4.1.By Value (USD Million) 2024-2034F
11.3.4.4.2. Market Share (%) 2024-2034F
11.3.4.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.5. Mining
11.3.4.5.1.By Value (USD Million) 2024-2034F
11.3.4.5.2. Market Share (%) 2024-2034F
11.3.4.5.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.6. Others
11.3.4.6.1.By Value (USD Million) 2024-2034F
11.3.4.6.2. Market Share (%) 2024-2034F
11.3.4.6.3. Y-o-Y Growth (%) 2024-2034F
12.North America Variable Frequency Drive Market Size & Forecast 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Product
12.3.2.By Power Range
12.3.3.By Application
12.3.4. By End User
12.4. Country
12.4.1.United States
12.4.2. Canada
13.Europe Variable Frequency Drive Market Size & Forecast 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Product
13.3.2.By Power Range
13.3.3.By Application
13.3.4. By End User
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.Asia-Pacific Variable Frequency Drive Market Size & Forecast 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Product
14.3.2. By Power Range
14.3.3. By Application
14.3.4. By End User
14.4. Country
14.4.1. India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.Middle East and Africa Variable Frequency Drive Market Size & Forecast 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Product
15.3.2.By Power Range
15.3.3.By Application
15.3.4. By End User
15.4.Country
15.4.1.Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. Latin America Variable Frequency Drive Market Size & Forecast 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Product
16.3.2.By Power Range
16.3.3.By Application
16.3.4. By End User
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. Competitive Landscape
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. Company Profiles
18.1.ABB Ltd.
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2.Eaton Corporation
18.3.Rockwell Automation, Inc.
18.4.Hitachi, Ltd.
18.5.Siemens AG
18.6.Danfoss Group
18.7.Schneider Electric SE
18.8.Mitsubishi Electric Corporation
18.9.Yaskawa Electric Corporation
18.10.Fuji Electric Co., Ltd.
18.11. WEG S.A.
18.12.Toshiba Corporation
18.13.Emerson Electric Co.
18.14.Nidec Corporation
18.15.Delta Electronics, Inc
18.16.Other Prominent Players
19. Appendix
20.Consultant Recommendation