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 |
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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.
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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