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North America Variable Frequency Drives Market Analysis

  • Report ID: GMI8802
  • Published Date: Nov 2024
  • Report Format: PDF

North America Variable Frequency Drives Market Analysis

Low voltage segment is anticipated to grow over USD 5.8 billion by 2034, driving by the recent technological improvements in LV VFD systems resulting in additional efficiency and cost-effective solutions, expanding their accessibility across a broader range of industries and applications. Furthermore, encouraging government initiatives and financial incentives focused on promoting energy efficiency will positively stimulate the regional low voltage drives industry landscape.
 

North America Variable Frequency Drives Market Share, By Application, 2024

The AC segment is anticipated to witness a CAGR of over 4% till 2034. The rapid increase in electricity consumption attributed by the expansion of industrial operations, driving demand for efficient LV AC drive systems. The implementation of stringent government policies focused on environmental sustainability is significantly transforming the industry landscape. Furthermore, the influx of new investments across diverse end-use sectors aimed at enhancing functional capabilities is expected to further strengthen the AC drives industry growth prospects.
 

U.S. Variable Frequency Drives Market Size, 2022 – 2034 (USD Billion)

The U.S. variable frequency drive market is set to grow over of USD 4.4 billion by 2034. The ongoing product innovations, fueled by technological advancements in electrical infrastructure, are poised to transform the business landscape. The automotive sector's expanding production capacity, coupled with rising energy demand in newly established manufacturing facilities, will drive growth. Additionally, efforts to reduce carbon footprints, particularly in emerging economies, are expected to further stimulate the U.S. variable frequency drives industry landscape.
 

The U.S. VFD industry outlook is significantly shaped by robust investments aimed at driving industrial development, the implementation of stern regulations on energy consumption, and the growing demand for energy-efficient solutions. For instance, in July 2024, the U.S. Department of Commerce unveiled a contest to support research and development initiatives focused on advancing semiconductor packaging technology offering up to USD 1.6 billion in funding. Under the CHIPS for America program, approximately USD 150 million will be allocated, with the intention of attracting substantial private sector investments to further accelerate innovation and growth in the sector.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The North America market size for variable frequency drives was valued at USD 4.5 billion in 2024 and is projected to reach USD 6.7 billion by 2034, driven by a CAGR of 3.8% from 2025 to 2034.

The low voltage segment is anticipated to exceed USD 5.8 billion by 2034, driven by technological improvements in LV VFD systems and supportive government initiatives.

The U.S. variable frequency drive market is projected to reach USD 4.4 billion by 2034, driven by ongoing product innovations and the expanding production capacity of the automotive sector.

Major players in the industry include ABB, Anaheim Automation, Danfoss, Delta Electronics, Eaton, Emerson Electric, Fuji Electric, Hitachi Industrial Equipment & Solutions America, Johnson Controls, and Mitsubishi Electric Corporation.

North America Variable Frequency Drives Market Scope

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Premium Report Details

  • Base Year: 2024
  • Companies covered: 20
  • Tables & Figures: 14
  • Countries covered: 3
  • Pages: 95
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