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Asia Pacific Large Scale Variable Frequency Drives Market Trends

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

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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.

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.