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Asia Pacific Variable Frequency Drives Market Size
- Report ID: GMI6590
- Published Date: Nov 2024
- Report Format: PDF
Asia Pacific Variable Frequency Drives Market Size
Asia Pacific variable frequency drives market size in 2024 was valued at USD 10 billion and is estimated to grow at a CAGR of 4.4% from 2025 to 2034.
Rising need for energy-efficient solutions and the enforcement of stringent energy consumption regulations by respective authorities will complement the industry landscape. These advanced systems provide accurate control of motor speeds, which is essential for conserving energy, enhancing process control, and boosting automation, thereby contributing to the industry growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Asia Pacific Variable Frequency Drives Market Size in 2024: | USD 10 billion |
| Forecast Period: | 2025 to 2034 |
| Forecast Period 2025 to 2034 CAGR: | 4.4% |
| 2034 Value Projection: | USD 15.5 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 110 |
| Tables, Charts & Figures: | 14 |
| Segments covered: | Voltage, Drive, Application, End-Use and Country |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Increased expenditure on infrastructure development has created a higher demand for HVAC systems that offer innovative ways to reduce energy use in buildings, further accelerated the product demand. For instance, in May 2023, The Australian government is leveraging the country's renewable energy potential to gain a competitive edge. It plans to unlock USD 43 billion in renewable capacity investments by 2030 through the Capacity Investment Scheme. The budget includes USD 18 million to integrate household energy resources into the grid, promoting cheaper and cleaner energy adoption.
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Asia Pacific Variable Frequency Drives Market Scope
