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Variable Frequency Drive Market
Variable Frequency Drive Market by Phase Type, Drive Type (AC Drive, DC Drive), Voltage Rating (Low-voltage Drive), Application (HAVAC, Conveyors), End-use Industry (Oil & Gas, Power Generation) and Geography - Global Forecast to 2031
Report ID:MRSE - 1041306 Pages: 250 Aug-2024 Formats*: PDF Category: Semiconductor and Electronics Delivery: 24 to 72 HoursThe Variable Frequency Drive Market was valued at $23.2 billion in 2023. This market is expected to reach $34.2 billion by 2031 from an estimated $24.1 billion in 2024, at a CAGR of 5.1% during the forecast period of 2024-2031.
Variable Frequency Drive Market Size & Forecast
The growth of the variable frequency drive market is primarily driven by the growing demand for energy efficiency and rising demand for variable frequency drive in the industrial sector. Moreover, the modernization of power infrastructure is expected to generate growth opportunities for the players operating in this market.
Variable Frequency Drive Market Growth Drivers
Rising Demand of Variable Frequency Drive in Industrial Sector Driving Market Growth
Economic, technological, environmental, and operational concerns all play a part in the growing demand for VFDs in the industrial sector. VFDs are becoming increasingly recognized as a crucial part of contemporary industrial processes as firms strive to achieve sustainability targets, cut costs, and increase efficiency. Electric motor speed and torque can be optimized with the use of VFDs, directly resulting in lower energy usage. VFDs save a significant amount of energy by modifying the motor speed to fit the demands of the load. This is especially advantageous for high-power consumption. In the industrial sector, variable frequency drives can provide a host of advantages that boost overall system performance, lower operating costs, and increase energy efficiency. Variable-frequency drive provides precise control, extends equipment life, and contributes to environmental goals, all contributing to the market's growth.
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Growing Demand for Energy Efficiency Driving Market Growth
VFDs are commonly used to control the speed and torque of electric motors by altering the frequency and voltage of the power source. Through the process of matching motor speed to actual demand, VFDs effectively minimize energy use. This has a particularly substantial effect on applications where energy savings are significant, like fans and pumps. Modern, high-efficiency motors have a versatile and dependable design, which makes variable-speed drives ideal for HVAC systems in buildings with advanced energy-saving features. Moreover, VFDs assist enterprises in adhering to energy efficiency norms and laws, which frequently call for the use of energy-saving and greenhouse gas-emitting technology.
Thus, the growing demand for energy efficiency in various applications is driving the growth of the variable frequency drive market.
Variable Frequency Drive Market Growth Opportunities
Modernization of Power Infrastructure
The energy efficiency of modern electrical infrastructure is becoming progressively more important. Electric motor speed and torque are adjusted by VFDs to match load needs, resulting in significant energy savings. The goal of contemporary infrastructure is to increase power systems' dependability and efficiency. By precisely adjusting motor operations, lowering mechanical stress, and averting potential failures, VFDs improve system control. Increased system reliability and lower maintenance costs are the results of this. Additionally, VFDs include sophisticated features like connecting choices, diagnostic tools, and digital controls. These functions complement data analytics, predictive maintenance, and remote monitoring and control, all of which are part of the wider trend of digitization in the power infrastructure.
Therefore, by increasing energy efficiency, integrating with smart and renewable technologies, boosting system dependability, and assisting with regulatory compliance, the modernization of power infrastructure is propelling the variable frequency drive market.
Variable Frequency Drive Market Analysis: Key Findings
By Phase Type: The Three-phase VFDs Segment to Dominate the Variable Frequency Drive Market in 2024
Based on phase type, the variable frequency drive market is segmented into single-phase VFDs and three-phase VFDs. In 2024, the three-phase VFDs segment is expected to account for the largest share of the variable frequency drive market. The increased use of three-phase VFDs in HVAC and extruder applications and the growing requirement for three-phase VFDs to reduce energy consumption are all factors contributing to this segment's significant market share. The growing demand for precise control in high-power applications and the increasing deployment of three-phase VFDs in water and wastewater treatment and the oil and gas industries are driving this segment’s growth.
Moreover, this segment is also expected to record a higher CAGR during the forecast period.
By Drive Type: The AC Drive is Segment to Dominate the Variable Frequency Drive Market in 2024
Based on drive type, the variable frequency drive market is segmented into AC drives, DC drives, and servo drives. In 2024, the AC drive segment is expected to account for the largest share of over 83.0% of the variable frequency drive market. This segment’s large market share is attributed to the increasing demand for energy-efficient solutions across various industries, rising industrial automation and smart manufacturing, and increasing adoption of AC drives in fans and pumps, conveyors, mixers, and crushers applications. In addition, the benefits offered by the AC drive segment, such as reduced power consumption, cost savings, precise speed control, enhanced performance, and improved operational efficiency, contribute to this segment's growth. Moreover, this segment is also estimated to record a higher CAGR during the forecast period.
By Voltage Rating: The Low Voltage Drive is Segment to Dominate the Variable Frequency Drive Market in 2024
Based on voltage rating, the variable frequency drive market is segmented into low-voltage drive, medium-voltage drive, and high-voltage drive. In 2024, the low voltage drive segment is expected to account for the largest share of over 71.0% of the variable frequency drive market. The growing requirement for low-temperature, low-voltage, variable frequency drive that are compact in size, increased investment in research and development, and the need to improve performance are all factors driving this segment's substantial market share. The growing need for low-voltage drives in power generation, as well as the growing use of low-voltage drives in fans, compressors, and pump applications, contribute to the segment's growth. Additionally, players in the market are collaborating to create cutting-edge products, which is assisting in this segment's expansion.
For instance, in September 2023, Rockwell Automation, Inc. (U.S.) agreed with Infinitum (U.S.) to develop high-efficiency, low-voltage drives and motors available for energy-intensive industrial applications.
However, the medium voltage drive segment is expected to register the highest CAGR during the forecast period. The increasing need for heightened energy efficiency, medium voltage drives to reduce operational costs, and for medium voltage drives in the oil and gas and mining industries are expected to support the growth of this segment.
By Application: The Pumps is Segment to Dominate the Variable Frequency Drive Market in 2024
Based on application, the variable frequency drive market is segmented into pumps, conveyors, fans, HVAC, extruders, mixers, blowers, chillers, and other applications. In 2024, the pumps segment is expected to account for the largest share of over 39.0% of the variable frequency drive market. This segment’s large market share is attributed to the increasing need for variable frequency drive to improve efficiency and throttle flow rate from the oil and gas, water treatment plant, etc. industries and the rising demand for accurate flow and pressure control.
However, the HVAC segment is expected to register the highest CAGR during the forecast period. The increasing need for effective climate management, increased use of energy-efficient technologies, and better temperature regulation and air quality are all anticipated to fuel this segment's expansion.
Furthermore, key market players are focused on introducing new solutions to improve business performance. For instance, in February 2024, ABB India introduced its next-generation compact drive specialized for HVACR systems. This new drive controls high-efficiency motors, empowering businesses to reach the highest IE5 efficiency standard.
By End-use Industry: The Oil & Gas Segment to Dominate the Variable Frequency Drive Market in 2024
Based on end-use industry, the variable frequency drive market is segmented into oil & gas, power generation, food & beverage, pulp & paper, automotive, mining & metals, marine & offshore, chemical, water and wastewater treatment, and other end-use industries. In 2024, the oil & gas segment is expected to account for the larger share of over 28.0% of the variable frequency drive market. This segment's large market share is attributed to the rising need to minimize energy waste and improve overall system efficiency, the rising demand for three-phase voltage drive in the oil & gas industry, and rising investment in modernizing infrastructure and improving operational efficiency. Moreover, this segment is also anticipated to register the highest CAGR during the forecast period.
Geographic Analysis
Asia-Pacific to Dominate the Variable Frequency Drive Market
Based on geography, the variable frequency drive market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 43.0% of the variable frequency drive market. The significant revenue share of this region is attributed to the presence of major variable frequency drive players. Variable frequency drives are also in high demand in the region due to increased smart building and infrastructure projects, heightened energy efficiency requirements, and rapid industrialization. Market participants are also concentrating on broadening their product offerings in order to bolster the expansion of this region.
For instance, in May 2023, ABB India expanded its manufacturing footprint with a new line for variable speed drive modules at the Peenya factory in Bengaluru. The new line will produce drives ranging from 75 kW to 250 kW and will cater to all major industrial segments.
Moreover, Asia-Pacific is expected to register the highest CAGR of 6.5% during the forecast period. This region's rapid growth is due to factors including the expanding demand for automation systems and smart building technologies, the growing use of variable frequency drives in the industrial sector, and the growing emphasis on energy management.
Variable Frequency Drive Market: Key Companies
The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the variable frequency drive market are ABB Ltd. (Switzerland), Siemens AG (Germany), Danfoss (Denmark), Schneider Electric SE (France), Rockwell Automation, Inc. (U.S.), Fuji Electric Co., Ltd. (Japan), TMEIC (Japan), Delta Electronics, Inc. (Taiwan), Parker Hannifin Corporation (U.S.), General Electric (U.S.), Eaton Corporation plc (Ireland), Honeywell International, Inc. (U.S.), Yaskawa Electric Corporation (Japan), Nidec Motor Corporation (Japan), and Anaheim Automation, Inc. (U.S.).
Variable Frequency Drive Industry Overview: Latest Developments from Key Industry Players
- In May 2023, Siemens AG (Germany) launched a new servo drive system designed for a variety of standard applications in the battery, electronics, and other industries. It consists of a precise servo drive, powerful servo motors, and easy-to-use cables and offers high dynamic performance.
- In November 2023, Johnson Controls International PLC (Ireland) launched its first air-cooled variable speed drive (VSD) screw chiller in the United States to use ultra-low-global warming potential (GWP) refrigerant R-1234ze.
Variable Frequency Drive Market Research Summary
|
Particulars |
Details |
|
Number of Pages |
250 |
|
Format |
|
|
Forecast Period |
2024–2031 |
|
Base Year |
2023 |
|
CAGR |
5.1% |
|
Market Size |
$34.2 Billion by 2031 |
|
Segments Covered |
By Phase Type
By Drive Type
By Voltage Rating
By Application
By End-use Industry
|
|
Countries Covered |
North America (U.S. and Canada), Europe (Germany, U.K., France, Italy, Spain, Switzerland, Poland, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Singapore, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America) and the Middle East & Africa (UAE, Israel, Rest of Middle East & Africa) |
|
Key Companies |
ABB Ltd. (Switzerland), Siemens AG (Germany), Danfoss (Denmark), Schneider Electric SE (France), Rockwell Automation, Inc. (U.S.), Fuji Electric Co., Ltd. (Japan), TMEIC (Japan), Delta Electronics, Inc. (Taiwan), Parker Hannifin Corporation (U.S.), General Electric (U.S.), Eaton Corporation plc (Ireland), Honeywell International, Inc. (U.S.), Yaskawa Electric Corporation (Japan), Nidec Motor Corporation (Japan), and Anaheim Automation, Inc. (U.S.) |
Key questions answered in the variable frequency drive market report:
The variable frequency drive market study focuses on market assessment and opportunity analysis based on the sales of variable frequency drive products across various countries, regions, and market segments. The study includes a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last 3–4 years.
The variable frequency drive market is estimated to reach $34.2 billion by 2031, at a CAGR of 5.1% from 2024 to 2031.
In 2024, the pumps segment is expected to account for the largest share of over 39.0% of the variable frequency drive market. The segment’s large share is attributed to the rising need for precise flow and pressure control and the increasing demand for variable frequency drive from the water treatment plant industry, oil & gas, etc., to throttle the flow rate and enhance efficiency.
The growth of the variable frequency drive market is primarily driven by the growing demand for energy efficiency and rising demand for variable frequency drive in the industrial sector. Moreover, the modernization of power infrastructure is expected to generate growth opportunities for the players operating in this market.
The key players operating in the variable frequency drive market are ABB Ltd. (Switzerland), Siemens AG (Germany), Danfoss (Denmark), Schneider Electric SE (France), Rockwell Automation, Inc. (U.S.), Fuji Electric Co., Ltd. (Japan), TMEIC (Japan), Delta Electronics, Inc. (Taiwan), Parker Hannifin Corporation (U.S.), General Electric (U.S.), Eaton Corporation plc (Ireland), Honeywell International, Inc. (U.S.), Yaskawa Electric Corporation (Japan), Nidec Motor Corporation (Japan), and Anaheim Automation, Inc. (U.S.).
At present, Asia-Pacific dominates the variable frequency drive market. Moreover, Japan, China, India, and South Korea are expected to witness strong growth in the demand for variable frequency drive in the coming years.
1. Introduction
1.1. Market Definition & Scope
1.2. Currency & Limitations
1.2.1. Currency
1.2.2. Limitations
2. Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation Process
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing & Forecasting
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
3.1. Overview
3.2. Market Analysis, by Phase Type
3.3. Market Analysis, by Drive Type
3.4. Market Analysis, by Voltage Rating
3.5. Market Analysis, by Application
3.6. Market Analysis, by End-use Industry
3.7. Market Analysis, by Geography
3.8. Competitive Analysis
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Drivers
4.2.1.1. Growing Demand for Energy Efficiency
4.2.1.2. Rising Demand of Variable Frequency Drive in Industrial End-use Industry
4.2.2. Restraints
4.2.2.1. High Installation Cost of Variable Frequency Drive System
4.2.3. Opportunities
4.2.3.1. Modernization of Power Infrastructure
4.2.4. Challenges
4.2.4.1. Shortage of Components and Parts Due to Supply Chain Disruptions
4.4. Vendor Selection Criteria/Factors Influencing Purchase Decisions
4.5. Case Studies
5. Global Variable Frequency Drive Market Assessment—by Phase Type
5.1. Overview
5.2. Single-phase VFDs
5.3. Three-phase VFDs
6. Global Variable Frequency Drive Market Assessment—by Drive Type
6.1. Overview
6.2. AC Drive
6.3. DC Drive
6.4. Servo Drive
7. Global Variable Frequency Drive Market Assessment—by Voltage Rating
7.1. Overview
7.3. Low-voltage Drive
7.4. Medium-voltage Drive
7.5. High-voltage Drive
8. Global Variable Frequency Drive Market Assessment—by Application
8.1. Overview
8.2. Pumps
8.3. Conveyors
8.4. Fans
8.5. HAVAC
8.6. Extruder
8.7. Mixers
8.8. Blowers
8.9. Chillers
8.10. Other Applications
9. Global Variable Frequency Drive Market Assessment—by End-use Industry
9.1. Overview
9.2. Oil & Gas
9.3. Power Generation
9.4. Chemical
9.5. Water and Wastewater Treatment
9.6. Food & Beverage
9.7. Pulp & Paper
9.8. Automotive
9.9. Mining & Metals
9.10. Marine & Offshore
9.11. Other End-use Industries
10. Variable Frequency Drive Market Assessment—by Geography
10.1. Overview
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.3. Europe
10.3.1. U.K.
10.3.2. Germany
10.3.3. France
10.3.4. Spain
10.3.5. Italy
10.3.6. Switzerland
10.3.7. Poland
10.3.8. Rest of Europe
10.4. Asia-Pacific
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Singapore
10.4.5. South Korea
10.4.6. Australia & New Zealand
10.4.7. Rest of Asia-Pacific
10.5. Latin America
10.5.1. Mexico
10.5.2. Brazil
10.5.3. Rest of Latin America
10.6. Middle East & Africa
10.6.1. UAE
10.6.2. Israel
10.6.3. Rest of Middle East & Africa
11. Competition Analysis
11.1. Overview
11.2. Key Growth Strategies
11.3. Competitive Benchmarking
11.4. Competitive Dashboard
11.4.1. Industry Leaders
11.4.2. Market Differentiators
11.4.3. Vanguards
11.4.4. Emerging Companies
11.5. Market Rankings of Key Players
12. Company Profiles (Company Overview, Financial Overview, Product Portfolio, Strategic Developments, and SWOT Analysis)
12.1. ABB Ltd. (Switzerland)
12.2. Siemens AG (Germany)
12.3. Danfoss (Denmark)
12.4. Schneider Electric SE (France)
12.5. Rockwell Automation, Inc. (U.S.)
12.6. Fuji Electric Co., Ltd. (Japan)
12.7. TMEIC (Japan)
12.8. Delta Electronics, Inc. (Taiwan)
12.9. Parker Hannifin Corporation (U.S.)
12.10. General Electric (U.S.)
12.11. Eaton Corporation plc (Ireland)
12.12. Honeywell International, Inc. (U.S.)
12.13. Yaskawa Electric Corporation (Japan)
12.14. Nidec Motor Corporation (Japan)
12.15. Anaheim Automation, Inc. (U.S.)
(Note: SWOT analysis will be provided for the top 5 companies.)
13. Appendix
13.1. Available Customization
List of Tables
Table 1 Global Variable Frequency Drive Market, by Country/Region, 2022–2031 (USD Million)
Table 2 Global Variable Frequency Drive Market, Phase Type, 2022–2031 (USD Million)
Table 3 Global Single-phase Variable Frequency Drive Market, by Country/Region, 2022–2031 (USD Million)
Table 4 Global Three-phase Variable Frequency Drive Market, by Country/Region, 2022–2031 (USD Million)
Table 5 Global Variable Frequency Drive Market, Drive Type, 2022–2031 (USD Million)
Table 6 Global AC Drive Market, by Country/Region, 2022–2031 (USD Million)
Table 7 Global DC Drive Market, by Country/Region, 2022–2031 (USD Million)
Table 8 Global Servo Drive Market, by Country/Region, 2022–2031 (USD Million)
Table 9 Global Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 10 Global Low-voltage Drive Market, by Country/Region, 2022–2031 (USD Million)
Table 11 Global Medium-voltage Drive Market, by Country/Region, 2022–2031 (USD Million)
Table 12 Global High-voltage Drive Market, by Country/Region, 2022–2031 (USD Million)
Table 13 Global Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 14 Global Variable Frequency Drive Market for Pumps, by Country/Region, 2022–2031 (USD Million)
Table 15 Global Variable Frequency Drive Market for Conveyors, by Country/Region, 2022–2031 (USD Million)
Table 16 Global Variable Frequency Drive Market for Fans, by Country/Region, 2022–2031 (USD Million)
Table 17 Global Variable Frequency Drive Market for HAVAC, by Country/Region, 2022–2031 (USD Million)
Table 18 Global Variable Frequency Drive Market for Extruder, by Country/Region, 2022–2031 (USD Million)
Table 19 Global Variable Frequency Drive Market for Mixers, by Country/Region, 2022–2031 (USD Million)
Table 20 Global Variable Frequency Drive Market for Blowers, by Country/Region, 2022–2031 (USD Million)
Table 21 Global Variable Frequency Drive Market for Chillers, by Country/Region, 2022–2031 (USD Million)
Table 22 Global Variable Frequency Drive Market for Other Applications, by Country/Region, 2022–2031 (USD Million)
Table 23 Global Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 24 Global Variable Frequency Drive Market for Oil& Gas, by Country/Region, 2022–2031 (USD Million)
Table 25 Global Variable Frequency Drive Market for Power Generation, by Country/Region, 2022–2031 (USD Million)
Table 26 Global Variable Frequency Drive Market for Food & Beverage, by Country/Region, 2022–2031 (USD Million)
Table 27 Global Variable Frequency Drive Market for Pulp & Paper, by Country/Region, 2022–2031 (USD Million)
Table 28 Global Variable Frequency Drive Market for Automotive, by Country/Region, 2022–2031 (USD Million)
Table 29 Global Variable Frequency Drive Market for Mining & Metals, by Country/Region, 2022–2031 (USD Million)
Table 30 Global Variable Frequency Drive Market for Marine & Offshore, by Country/Region, 2022–2031 (USD Million)
Table 31 Global Variable Frequency Drive Market for Chemical, by Country/Region, 2022–2031 (USD Million)
Table 32 Global Variable Frequency Drive Market for Water & Wastwater Treatment, by Country/Region, 2022–2031 (USD Million)
Table 33 Global Variable Frequency Drive Market for Other End-use Industries, by Country/Region, 2022–2031 (USD Million)
Table 34 Global Variable Frequency Drive Market, by Country/Region, 2022–2031 (USD Million)
Table 35 North America: Variable Frequency Drive Market, by Country, 2022–2031 (USD Million)
Table 36 North America: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 37 North America: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 38 North America: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 39 North America: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 40 North America: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 41 U.S.: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 42 U.S.: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 43 U.S.: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 44 U.S.: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 45 U.S.: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 46 Canada: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 47 Canada: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 48 Canada: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 49 Canada: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 50 Canada: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 51 Europe: Variable Frequency Drive Market, by Country, 2022–2031 (USD Million)
Table 52 Europe: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 53 Europe: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 54 Europe: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 55 Europe: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 56 Europe: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 57 U.K.: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 58 U.K.: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 59 U.K.: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 60 U.K.: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 61 U.K.: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 62 Germany: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 63 Germany: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 64 Germany: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 65 Germany: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 66 Germany: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 67 France: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 68 France: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 69 France: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 70 France: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 71 France: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 72 Italy: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 73 Italy: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 74 Italy: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 75 Italy: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 76 Italy: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 77 Spain: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 78 Spain: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 79 Spain: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 80 Spain: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 81 Spain: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 82 Switzerland: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 83 Switzerland: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 84 Switzerland: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 85 Switzerland: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 86 Switzerland: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 87 Poland: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 88 Poland: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 89 Poland: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 90 Poland: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 91 Poland: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 92 Rest of Europe: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 93 Rest of Europe: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 94 Rest of Europe: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 95 Rest of Europe: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 96 Rest of Europe: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 97 Asia-Pacific: Variable Frequency Drive Market, by Country, 2022–2031 (USD Million)
Table 98 Asia-Pacific: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 99 Asia-Pacific: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 100 Asia-Pacific: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 101 Asia-Pacific: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 102 Asia-Pacific: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 103 China: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 104 China: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 105 China: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 106 China: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 107 China: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 108 Japan: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 109 Japan: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 110 Japan: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 111 Japan: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 112 Japan: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 113 India: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 114 India: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 115 India: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 116 India: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 117 India: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 118 South Korea: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 119 South Korea: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 120 South Korea: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 121 South Korea: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 122 South Korea: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 123 Singapore: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 124 Singapore: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 125 Singapore: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 126 Singapore: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 127 Singapore: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 128 Australia & New Zealand: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 129 Australia & New Zealand: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 130 Australia & New Zealand: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 131 Australia & New Zealand: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 132 Australia & New Zealand: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 133 Rest of Asia-Pacific: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 134 Rest of Asia-Pacific: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 135 Rest of Asia-Pacific: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 136 Rest of Asia-Pacific: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 137 Rest of Asia-Pacific: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 138 Latin America: Variable Frequency Drive Market, by Country, 2022–2031 (USD Million)
Table 139 Latin America: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 140 Latin America: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 141 Latin America: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 142 Latin America: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 143 Latin America: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 144 Mexico: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 145 Mexico: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 146 Mexico: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 147 Mexico: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 148 Mexico: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 149 Brazil: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 150 Brazil: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 151 Brazil: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 152 Brazil: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 153 Brazil: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 154 Rest of Latin America: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 155 Rest of Latin America: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 156 Rest of Latin America: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 157 Rest of Latin America: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 158 Rest of Latin America: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 159 Middle East & Africa: Variable Frequency Drive Market, by Country, 2022–2031 (USD Million)
Table 160 Middle East & Africa: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 161 Middle East & Africa: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 162 Middle East & Africa: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 163 Middle East & Africa: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 164 Middle East & Africa: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 165 UAE: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 166 UAE: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 167 UAE: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 168 UAE: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 169 UAE: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 170 Israel: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 171 Israel: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 172 Israel: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 173 Israel: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 174 Israel: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 175 Rest of Middle East & Africa: Variable Frequency Drive Market, by Phase Type, 2022–2031 (USD Million)
Table 176 Rest of Middle East & Africa: Variable Frequency Drive Market, by Drive Type, 2022–2031 (USD Million)
Table 177 Rest of Middle East & Africa: Variable Frequency Drive Market, by Voltage Rating, 2022–2031 (USD Million)
Table 178 Rest of Middle East & Africa: Variable Frequency Drive Market, by Application, 2022–2031 (USD Million)
Table 179 Rest of Middle East & Africa: Variable Frequency Drive Market, by End-use Industry, 2022–2031 (USD Million)
Table 180 Recent Developments from Major Market Players (2021–2024)
Table 181 Market Rankings of Key Players
List of Figures
Figure 1 Market Ecosystem
Figure 2 Key Stakeholders
Figure 3 Research Process
Figure 4 Key Secondary Sources
Figure 5 Primary Research Techniques
Figure 6 Key Executives Interview
Figure 7 Breakdown of Primary Interviews (Supply-side & Demand-side)
Figure 8 Market Sizing & Growth Forecast Approach
Figure 9 Key Insights
Figure 10 In 2024, the Single Phase VFDs Segment Expected to Dominate the Global Variable Frequency Drive Market
Figure 11 In 2024, the AC Drive Segment Expected to Dominate the Global Variable Frequency Drive Market
Figure 12 In 2024, the Low Power Drive Segment Expected to Dominate the Global Variable Frequency Drive Market
Figure 13 In 2024, the Pumps Segment Expected to Dominate the Global Variable Frequency Drive Market
Figure 14 In 2024, the Oil & Gas Segment Expected to Dominate the Global Variable Frequency Drive Market
Figure 15 Global Variable Frequency Drive Market, by Geography (2024 Vs. 2031)
Figure 16 Impact Analysis of Market Dynamics
Figure 17 Vendor Selection Criteria/Factors Influencing Purchase Decisions
Figure 18 Global Variable Frequency Drive Market, by Phase Type, 2024 Vs. 2031 (USD Million)
Figure 19 Global Variable Frequency Drive Market, by Drive Type, 2024 Vs. 2031 (USD Million)
Figure 20 Global Variable Frequency Drive Market, by Voltage Rating, 2024 Vs. 2031 (USD Million)
Figure 21 Global Variable Frequency Drive Market, by Application, 2024 Vs. 2031 (USD Million)
Figure 22 Global Variable Frequency Drive Market, by End-use Industry, 2024 Vs. 2031 (USD Million)
Figure 23 Global Variable Frequency Drive Market, by Geography, 2024 Vs. 2031 (USD Million)
Figure 24 Geographic Snapshot: Variable Frequency Drive Market in North America
Figure 25 Geographic Snapshot: Variable Frequency Drive Market in Europe
Figure 26 Geographic Snapshot: Variable Frequency Drive Market in Asia-Pacific
Figure 27 Geographic Snapshot: Variable Frequency Drive Market in Latin America
Figure 28 Geographic Snapshot: Variable Frequency Drive Market in Middle East & Africa
Figure 29 Growth Strategies Adopted by Leading Market Players (2021–2024)
Figure 30 Competitive Benchmarking Analysis (2021–2024)
Figure 31 Competitive Dashboard: Global Variable Frequency Drive Market
Figure 32 ABB Ltd..: Financial Overview (2022)
Figure 33 Siemens AG: Financial Overview (2022)
Figure 34 Schneider Electric SE: Financial Overview (2022)
Figure 35 General Electric.: Financial Overview (2022)
Figure 36 Honeywell International, Inc.: Financial Overview (2022)
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