The variable frequency drive market would grow at a CAGR of 9.58% over the predicted time frame. The market is expected to increase in value from US$ 21.05 Bn in 2022 to US$ 43.75 Bn in 2030.
Key Takeaway
- By product, the North America variable frequency drive market was valued at USD 5.7 billion in 2021 and is expected to grow at a CAGR of 5.3% from 2022 to 2030.
- By end-use industry, the food processing sector was valued at US$ 5.3 billion in 2021.
- By product, the AC drives segment held 69% of total sales.
- The DC drive product segment is estimated to grow at a CAGR of 4.9% during forecast period.
- Based on power range, the low power range segment garnered revenue share of 41% and medium power range frequency drive is predicted to grow at a CAGR of 5.8% from 2022 to 2030.
- By Application, the pumps section contributed for 30% of total sales in 2021.
- The HVAC application segment is estimated to grow at a CAGR of 6.9%.
- In 2021, the Asia Pacific region's market was worth USD 8.7 billion.
- Latin America is predicted to grow at a CAGR of 6.6% over the projection period.
The on variable frequency drive Market, which provides a business strategy, research & development activities, concise outline of the market valuation, valuable insights pertaining to market share, size, supply chain analysis, competitive landscape and regional proliferation of this industry.
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Report Scope of the Variable Frequency Drive Market
Report Coverage | Details |
Market Size by 2030 | USD 43.75 Billion |
Growth Rate from 2022 to 2030 | CAGR of 9.58% |
Asia Pacific Market Share in 2021 | 46% |
Fastest Growing Market | Latin America |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Segments Covered | Product, Power Range, Voltage Type, Application, End User, Geography |
A recent report provides crucial insights along with application based and forecast information in the Global Variable frequency drive Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of this market. This study also provides a detailed overview of the opportunities along with the current trends observed in the Variable frequency drive market.
A quantitative analysis of the industry is compiled for a period of 10 years in order to assist players to grow in the market. Insights on specific revenue figures generated are also given in the report, along with projected revenue at the end of the forecast period.
Companies and Manufacturers Covered
The study covers key players operating in the market along with prime schemes and strategies implemented by each player to hold high positions in the industry. Such a tough vendor landscape provides a competitive outlook of the industry, consequently existing as a key insight. These insights were thoroughly analysed and prime business strategies and products that offer high revenue generation capacities were identified. Key players of the global Variable frequency drive market are included as given below:
Variable frequency drive Market Key Players
Market Key Players
- ABB Ltd
- Siemens AG
- Danfoss A/S
- Rockwell Automation
- GE Energy Power Conversion
- Toshiba International Corporation
- Schneider Electric
- Mitsubishi Electric Corporation
- Honeywell International Inc.
- Emerson Industrial Automation
- Fuji Electric Co. Ltd
- Johnson Controls Inc.,
- Eaton PLC
- Hitachi Ltd
Market Segments
By Product
- AC Drives
- DC Drives
- Servo Drives
By Power Range
- Micro
- Low
- Medium
- High
By Voltage Type
- Low Voltage
- Medium Voltage
By Application
- Pumps
- Electric Fan
- HVAC
- Conveyors
- Extruders
- Others
By End User
- Oil & gas
- Industrial
- Power
- Infrastructure
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
Report Objectives
- To define, describe, and forecast the global variable frequency drive market based on product, and region
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contributions to the total market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of market segments with respect to four main regions—North America, Europe, Asia Pacific and the Rest of the World (RoW)2
- To strategically profile key players and comprehensively analyze their product portfolios, market shares, and core competencies3
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, and partnerships in the variable frequency drive market
Table of Content
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Variable Frequency Drive Market
5.1. COVID-19 Landscape: Variable Frequency Drive Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Variable Frequency Drive Market, By Product
8.1. Variable Frequency Drive Market, by Product, 2022-2030
8.1.1. AC Drives
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. DC Drives
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Servo Drives
8.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Variable Frequency Drive Market, By Power Range
9.1. Variable Frequency Drive Market, by Power Range, 2022-2030
9.1.1. Micro
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Low
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Medium
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. High
9.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Variable Frequency Drive Market, By Voltage Type
10.1. Variable Frequency Drive Market, by Voltage Type, 2022-2030
10.1.1. Low Voltage
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Medium Voltage
10.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Variable Frequency Drive Market, By Application
11.1. Variable Frequency Drive Market, by Application, 2022-2030
11.1.1. Pumps
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. Electric Fan
11.1.2.1. Market Revenue and Forecast (2017-2030)
11.1.3. HVAC
11.1.3.1. Market Revenue and Forecast (2017-2030)
11.1.4. Conveyors
11.1.4.1. Market Revenue and Forecast (2017-2030)
11.1.5. Extruders
11.1.6.1. Market Revenue and Forecast (2017-2030)
11.1.6. Others
11.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Variable Frequency Drive Market, By End User
12.1. Variable Frequency Drive Market, by End User, 2022-2030
12.1.1. Oil & gas
12.1.1.1. Market Revenue and Forecast (2017-2030)
12.1.2. Industrial
12.1.2.1. Market Revenue and Forecast (2017-2030)
12.1.3. Power
12.1.3.1. Market Revenue and Forecast (2017-2030)
12.1.4. Infrastructure
12.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 13. Global Variable Frequency Drive Market, Regional Estimates and Trend Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, by Product (2017-2030)
13.1.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.1.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.1.4. Market Revenue and Forecast, by Application (2017-2030)
13.1.5. Market Revenue and Forecast, by End User (2017-2030)
13.1.6. U.S.
13.1.6.1. Market Revenue and Forecast, by Product (2017-2030)
13.1.6.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.1.6.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.1.6.4. Market Revenue and Forecast, by Application (2017-2030)
13.1.7. Market Revenue and Forecast, by End User (2017-2030)
13.1.8. Rest of North America
13.1.8.1. Market Revenue and Forecast, by Product (2017-2030)
13.1.8.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.1.8.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.1.8.4. Market Revenue and Forecast, by Application (2017-2030)
13.1.8.5. Market Revenue and Forecast, by End User (2017-2030)
13.2. Europe
13.2.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.2.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.2.4. Market Revenue and Forecast, by Application (2017-2030)
13.2.5. Market Revenue and Forecast, by End User (2017-2030)
13.2.6. UK
13.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.6.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.2.6.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.2.7. Market Revenue and Forecast, by Application (2017-2030)
13.2.8. Market Revenue and Forecast, by End User (2017-2030)
13.2.9. Germany
13.2.9.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.9.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.2.9.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.2.10. Market Revenue and Forecast, by Application (2017-2030)
13.2.11. Market Revenue and Forecast, by End User (2017-2030)
13.2.12. France
13.2.12.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.12.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.2.12.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.2.12.4. Market Revenue and Forecast, by Application (2017-2030)
13.2.13. Market Revenue and Forecast, by End User (2017-2030)
13.2.14. Rest of Europe
13.2.14.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.14.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.2.14.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.2.14.4. Market Revenue and Forecast, by Application (2017-2030)
13.2.15. Market Revenue and Forecast, by End User (2017-2030)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.3.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.3.4. Market Revenue and Forecast, by Application (2017-2030)
13.3.5. Market Revenue and Forecast, by End User (2017-2030)
13.3.6. India
13.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.6.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.3.6.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.3.6.4. Market Revenue and Forecast, by Application (2017-2030)
13.3.7. Market Revenue and Forecast, by End User (2017-2030)
13.3.8. China
13.3.8.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.8.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.3.8.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.3.8.4. Market Revenue and Forecast, by Application (2017-2030)
13.3.9. Market Revenue and Forecast, by End User (2017-2030)
13.3.10. Japan
13.3.10.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.10.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.3.10.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.3.10.4. Market Revenue and Forecast, by Application (2017-2030)
13.3.10.5. Market Revenue and Forecast, by End User (2017-2030)
13.3.11. Rest of APAC
13.3.11.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.11.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.3.11.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.3.11.4. Market Revenue and Forecast, by Application (2017-2030)
13.3.11.5. Market Revenue and Forecast, by End User (2017-2030)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.4.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.4.4. Market Revenue and Forecast, by Application (2017-2030)
13.4.5. Market Revenue and Forecast, by End User (2017-2030)
13.4.6. GCC
13.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.6.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.4.6.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.4.6.4. Market Revenue and Forecast, by Application (2017-2030)
13.4.7. Market Revenue and Forecast, by End User (2017-2030)
13.4.8. North Africa
13.4.8.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.8.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.4.8.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.4.8.4. Market Revenue and Forecast, by Application (2017-2030)
13.4.9. Market Revenue and Forecast, by End User (2017-2030)
13.4.10. South Africa
13.4.10.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.10.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.4.10.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.4.10.4. Market Revenue and Forecast, by Application (2017-2030)
13.4.10.5. Market Revenue and Forecast, by End User (2017-2030)
13.4.11. Rest of MEA
13.4.11.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.11.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.4.11.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.4.11.4. Market Revenue and Forecast, by Application (2017-2030)
13.4.11.5. Market Revenue and Forecast, by End User (2017-2030)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Product (2017-2030)
13.5.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.5.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.5.4. Market Revenue and Forecast, by Application (2017-2030)
13.5.5. Market Revenue and Forecast, by End User (2017-2030)
13.5.6. Brazil
13.5.6.1. Market Revenue and Forecast, by Product (2017-2030)
13.5.6.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.5.6.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.5.6.4. Market Revenue and Forecast, by Application (2017-2030)
13.5.7. Market Revenue and Forecast, by End User (2017-2030)
13.5.8. Rest of LATAM
13.5.8.1. Market Revenue and Forecast, by Product (2017-2030)
13.5.8.2. Market Revenue and Forecast, by Power Range (2017-2030)
13.5.8.3. Market Revenue and Forecast, by Voltage Type (2017-2030)
13.5.8.4. Market Revenue and Forecast, by Application (2017-2030)
13.5.8.5. Market Revenue and Forecast, by End User (2017-2030)
Chapter 14. Company Profiles
14.1. ABB Ltd
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. Siemens AG
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. Danfoss A/S
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. Rockwell Automation
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. GE Energy Power Conversion
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Toshiba International Corporation
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. Schneider Electric
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. Mitsubishi Electric Corporation
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. Honeywell International Inc.
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. Emerson Industrial Automation
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
Chapter 15. Research Methodology
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
Chapter 16. Appendix
16.1. About Us
16.2. Glossary of Terms
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