Global Variable Frequency Drive Market Size & Outlook
Global variable frequency drive market, 2018-2030 (US$M)
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Global variable frequency drive market highlights
- The global variable frequency drive market generated a revenue of USD 27,091.2 million in 2023 and is expected to reach USD 39,668.6 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 5.6% by 2030.
- In terms of segment, ac drives accounted for a revenue of USD 18,680.6 million in 2023.
- AC Drives is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 27,091.2 million |
| Market revenue in 2030 | USD 39,668.6 million |
| Growth rate | 5.6% (CAGR from 2023 to 2030) |
| Largest segment | Ac drives |
| Fastest growing segment | AC Drives |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | AC Drives, DC Drives, Servo Drives |
Other key industry trends
- In terms of revenue, the North America accounted for 22.4% of the global variable frequency drive market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, China is the fastest growing regional market and is projected to reach USD 3,848.8 million by 2030.
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Variable Frequency Drive Market Scope
Variable Frequency Drive Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global variable frequency drive market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to variable frequency drive market will help companies and investors design strategic landscapes.
Ac drives was the largest segment with a revenue share of 68.95% in 2023. Horizon Databook has segmented the Global variable frequency drive market based on ac drives, dc drives, servo drives covering the revenue growth of each sub-segment from 2018 to 2030.
The infrastructural and manufacturing industries, such as wastewater treatment, pulp & paper, chemical, mining, petrochemical, gas, and oil and cement, are some of the major industries that use variable frequency drives.
Fans, process pumps, utility pump conveyor fans, blowers, and process pumps process are just a few machines that use variable frequency drives. Variable frequency drive manufacturers have attractive potential in the manufacturing and cement sectors in India, China, the U.S., Indonesia, Russia, Indonesia, Iran, Saudi Arabia, Turkey, Egypt, and Brazil.
Cement demand is anticipated to rise as India's 39 infrastructure projects expand. The primary driver of cement consumption in India is the housing industry. Countries such as China, Brazil, and the U.S. are among the world's major paper and pulp producers.
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Horizon Databook provides a detailed overview of global-level data and insights on the Global variable frequency drive market , including forecasts for subscribers. This global databook contains high-level insights into Global variable frequency drive market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global variable frequency drive market size, by regions, 2018-2030 (US$M)
Top 10 countries: Variable frequency drive market size, 2023 (US$M)
Global variable frequency drive market share, by product, 2023 & 2030 (%, US$M)
Variable frequency drive market: Opportunity assessment by country
Global variable frequency drive market, by region, 2023 (US$M)
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