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Asia Pacific Large Scale Variable Frequency Drives Market Size

Report ID: GMI10903
Published Date: Aug 2024
Report Format: PDF

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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.

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Large Scale Variable Frequency Drives Market Size in 2023:	USD 1 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.3%
2032 Value Projection:	USD 1.6 Billion
Historical Data for:	2021 - 2023
No. of Pages:	75
Tables, Charts & Figures:	12
Segments covered:	Voltage, Application, End-Use, and Country
Growth Drivers:	Growing investments across heavy-duty industries Positive outlook to reduce energy consumption across industrial operations Encouraging regulatory policies to boost energy efficiency
Pitfalls & Challenges:	Significant initial deployment cost

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Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

Asia Pacific large scale variable frequency drives market size was USD 1 billion in 2023 and is expected to register 5.3% CAGR from 2024-2032 owing to increasing inclination towards renewable technologies coupled with positive government efforts in the region.

Asia Pacific large scale variable frequency drives industry from the low voltage segment is expected to cross USD 480 million by 2032 due to continuous expansion of grid infrastructure along with increasing demand for sustainable equipment with minimal mechanical & operational costs.

China large scale variable frequency drives industry is expected reach over USD 760 million by 2032 due to the continuous research & development activities focusing to improve the operational characteristics primarily of the large capacity motors & drives in the country.

ABB, Danfoss, Eaton, Ingeteam Power Technology, S.A, NIDEC CORPORATION, Schneider Electric, Siemens, TMEIC, WEG, Xi'an XICHI Electric Co., Ltd., and YASKAWA ELECTRIC CORPORATION, are some of the major large scale variable frequency drives companies from Asia Pacific.