The factor which drives the growth of variable frequency drive market is increase in urbanization and industrialization in developing countries. Other factors driving the growth of these market are regulation on efficiency of energy, growing trends in industrial automation, efficient utilization of energy and increase in construction activities, power transmission & distribution. The utilization of VFDs, also results in the reduction of ... Read more
The global variable frequency drive (VFD) market is projected to reach USD 27.57 billion by 2023, at a CAGR of 5.87%, from an estimated USD 20.73 billion in 2018, by value. The growth of the VFD market is mainly driven by the increased usage of VFDs across major industry verticals, industrialization and urbanization, and increasing focus on energy efficiency.
Asia Pacific is estimated to be the fastest growing market for VFDs during the forecast period. The region has been segmented ... Read more
The global Variable Frequency Drive Market is projected to reach a market size of USD 27.57 billion by 2023, at a CAGR of 5.87%. The market in Asia Pacific is estimated to be the largest for VFDs, followed by the market in Europe in 2018. Factors such as increased usage of VFD across major industry verticals, government regulations, and rising need for energy efficiency are driving the VFD ... Read more
The global variable frequency drive market is projected to reach USD 27.57 billion by 2023, at a CAGR of 5.87%, from an estimated USD 20.73 billion in 2018, by value. The growth of the VFD market is mainly driven by the increased usage of variable frequency drive across major industry verticals, industrialization and urbanization, and increasing focus on energy efficiency.
