Asia Pacific Large Scale Variable Frequency Drives Market – By Voltage, By Application (Pump, Fan, Conveyor, Compressor, Extruder), By End-Use (Oil & Gas, Power Generation, Mining & Metals, Pulp & Paper, Marine) & Forecast, 2024 - 2032

Asia Pacific Large Scale Variable Frequency Drives Market Size

Asia Pacific Large Scale Variable Frequency Drives Market stood at USD 1 billion in 2023 and is set to experience a CAGR of 5.3% between 2024 and 2032.
 

Increasing inclination towards renewable technologies coupled with positive government efforts to support the deployment of energy efficient systems with low carbon footprint will boost the industry outlook. In March 2024, the Chinese government introduced updated its stringent energy intensity objectives in line with its five-year climate plan ending in 2025. The country targets to diminish its energy intensity by 2.5% in 2024 to attain a lower carbon footprint.
 

Asia Pacific Large Scale Variable Frequency Drives Market Trends

Asia Pacific large scale variable frequency drives industry will observe a significant expansion on account of the continuous introduction of advanced monitoring & control systems along with significant efforts to optimize energy consumption. Moreover, mounting investments across various heavy-duty end use verticals including power generation, mining, and others will boost the product adoption. For instance, in April 2024, Bank of Japan reported that the direct investment from Asian geographies totaled USD 2.3 billion in calendar year 2023, experiencing 22.1% from about USD 1.9 billion in 2022. Additionally, strict administrative norms regarding the adoption of advanced energy systems with low carbon footprint will boost the industry growth.
 

Asia Pacific Large Scale Variable Frequency Drives Market Analysis

Asia Pacific low voltage large scale VFD industry is projected to cross USD 480 million by 2032 on account of the continuous expansion of grid infrastructure along with increasing demand for sustainable equipment with minimal mechanical & operational costs. Ongoing technological innovations in order to improve the motor systems in line with favorable government norms focusing on the development of sustainable building infrastructure will sway the low voltage drives industry growth.
 

Paradigm shift toward the integration of effective monitoring and control systems across small and large applications in line with rising demand to adapt motor speed according to the actual requirements to contribute toward reduced energy losses will stimulate the industry landscape. Moreover, extensive demand for high performance drives across the industrial applications including marine, oil & gas, and power generation, among others, in line with continuous advancement of grid infrastructure will fuel the medium voltage drives industry trend.
 

Pump segment is projected to witness over 5% till 2032 on account of a positive outlook toward energy savings in line with significant efforts across the major players to provide efficient systems with low maintenance. Continuous retrofitting activities across the large commercial & industrial operations to enable low energy losses will stimulate the demand of large scale VFDs. In addition, increasing requirement of large drives across chemical & petrochemical industries to offer efficient process operation and increased energy savings will cater to the product demand.
 

China large scale variable frequency drives industry is projected to surpass USD 760 million by 2032. Continuous research & development activities focusing to improve the operational characteristics primarily of the large capacity motors & drives along with the mounting investments from domestic and international establishments will shape the country's industry outlook. For instance, in March 2024, the Chinese Ministry of Commerce confirmed that the total foreign direct investment (FDI) realized in the country equaled USD 189.1 billion in 2022, rising above 4.5% annually from USD 180.9 billion in 2021. Moreover, rising efforts toward maximizing the energy security along with continuous retrofitting activities across the commercial & industrial sectors will further accelerate the business landscape.
 

Asia Pacific Large Scale Variable Frequency Drives Market Share

The major players across the Asia Pacific large scale variable frequency drives industry are extensively focusing on the development of advanced systems through strategic collaborations, new technological development to provide enhanced energy security, reduced power losses, and cost-effective solutions. The prominent market players including Siemens, ABB, Danfoss, Fuji Electric, CG Power and Industrial Solutions Ltd, and Ingeteam, among others, are continuously engaging in organic & inorganic expansion initiatives to boost their customer reach across various geographies.
 

Asia Pacific Large Scale Variable Frequency Drives Market Companies

Key industry players actively working across the industry includes:

• ABB
• CG Power & Industrial Solutions Ltd.
• Danfoss
• Eaton
• Fuji Electric Co., Ltd.
• Hiconics Eco-energy Technology Co., Ltd.
• Ingeteam Power Technology, S.A
• NIDEC CORPORATION
• Schneider Electric
• Siemens
• TMEIC
• WEG
• Xi'an XICHI Electric Co., Ltd.
• YASKAWA ELECTRIC CORPORATION
   

Asia Pacific Large Scale Variable Frequency Drives Industry News

• In April 2023, ABB confirmed to deliver its ACS6080 Medium Voltage AC Drive to a metal recycling company called Sims Metal located in Melbourne, Australia. The product is projected to support Sims Metal's climate objectives, including achieving carbon neutrality by 2030 and net zero emissions by 2050. Moreover, the large VFD unit will provide enhanced safety, notable reduction in energy consumption, and propelling the output at the Sims’ metal shredding plant.
   
• In March 2023, Sunwoele introduced the latest high-performance VFD termed HSF600 series, designed for complex industrial applications such as precision machining. The new product line features modular design, including single drive & multi-drive options, and supports AC380V/690V voltage ranges with configurations up to 4,500 kW. Moreover, the product integrates advanced technologies to optimize performance and boost energy efficiency with significant improvements in speed and torque control.
   

Asia Pacific large scale variable frequency drives market research report includes in-depth coverage of the industry with estimates & forecast in terms of “‘000 Units” and “USD Million” from 2021 to 2032 for the following segments:

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Market, By Voltage

• Low
• Medium

Market, By Application

• Pump
• Fan
• Conveyor
• Compressor
• Extruder
• Others

Market, By End-Use

• Oil & Gas
• Power generation
• Mining & metals
• Pulp & paper
• Marine
• Others

The above information has been provided for the following countries:

• China
• Japan
• India
• Australia
• South Korea