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North America Variable Frequency Drives Market Share

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

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North America Variable Frequency Drives Market Share

North America Variable Frequency Drives Market Company Share Analysis, 2024

The North America variable frequency drive market is marked by intense competition, driven by the key industrial sectors, including mining, oil and gas, pulp and paper, and renewable energy. Industry giants including Siemens, ABB, Danfoss, Eaton, and Schneider Electric, among others, dominate the industry with comprehensive product offerings and established service networks. Moreover, key companies are focusing to offer tailored solutions to address the specific needs of major industries aiming to gain a wider customer base and boost their market share.

North America Variable Frequency Drives Market Companies

Major players operating across the industry include:

ABB
Anaheim Automation
Danfoss
Delta Electronics
Eaton
Emerson Electric
Fuji Electric
Hitachi Industrial Equipment & Solutions America
Johnson Controls
Mitsubishi Electric Corporation
Nidec Industrial Solutions
PARKER HANNIFIN
Phase Technologies
Rockwell Automation
Schneider Electric
Siemens
TMEIC
TRIOL CORPORATION
WEG
Yaskawa America

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.