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Variable Frequency Drive Market Size At Around US$ 43.75 Bn In 2030

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.

Variable Frequency Drive Market Size 2022 to 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 CoverageDetails
Market Size by 2030USD 43.75 Billion
Growth Rate from 2022 to 2030

CAGR of 9.58%

Asia Pacific Market Share in 202146%
Fastest Growing Market Latin America 
Base Year2021
Forecast Period2022 to 2030
Segments CoveredProduct, 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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