Home > Semiconductors & Electronics > Automation > Industrial Automation > Large Scale Variable Frequency Drives Market

Large Scale Variable Frequency Drives Market Size

Report ID: GMI7471
Published Date: Aug 2024
Report Format: PDF

Download Free Sample

Large Scale Variable Frequency Drives Market Size

Large Scale Variable Frequency Drives Market was evaluated at over USD 2.2 billion in 2023 and is anticipated to grow a CAGR of 5.7% by 2032. Flourishing investment for industrial infrastructural development, increasing demand for energy efficient technologies and stringent regulations for limiting energy consumption are complementing the business landscape. Favorable policies for infrastructural development and focus toward limiting emissions will positively influence the industry dynamics.

To get key market trends

Download Free Sample

For instance, in March 2024, the Department of Energy announced USD 6 billion for decarbonization of energy intensive industries across 20 states and reduce GHG emissions. Furthermore, shifting focus on deployment of enhanced technologies, accelerating automation across industrial processes, inclination toward precise motor speed and process control further complement the industry outlook.

Large Scale Variable Frequency Drives Market Report Attributes
Report Attribute	Details
Base Year:	2023
Large Scale Variable Frequency Drives Market Size in 2023:	USD 2.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.7%
2032 Value Projection:	USD 3.7 Billion
Historical Data for:	2021 to 2023
No. of Pages:	120
Tables, Charts & Figures:	12
Segments covered:	Voltage, Application, End-Use and Region
Growth Drivers:	Ongoing investment and expenditure for development of advanced industrial infrastructure Favorable regulatory framework and R&D initiatives for deployment of energy efficient systems
Pitfalls & Challenges:	Rapidly increasing energy demand High initial deployment cost

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

Market size for large scale variable frequency drives crossed USD 2.2 billion in 2023 and is expected to register 5.7% CAGR from 2024-2032 owing to the flourishing investment for industrial infrastructural development and increasing demand for energy efficient technologies worldwide.

Large scale variable frequency drives industry from the low voltage drives segment is expected to register reach over USD 1 billion by 2032 due to increasing industrial automation, rising demand for energy efficient units and shifting focus toward motor control components.

Asia Pacific industry is expected to reach over USD 1.6 billion by 2032 due to growing clean power generation, surging investments for industrial development, and paradigm shift towards energy conservation in the region.

Eaton, GE Vernova, NIDEC CORPORATION, PARKER HANNIFIN CORP, Rockwell Automation, Schneider Electric, Siemens, TMEIC, TRIOL Corporation, VEM GmbH, WEG, and YASKAWA ELECTRIC CORPORATION, are some of the major large scale variable frequency drives companies worldwide.