Oil & Gas Variable Frequency Drives Market Analysis

Oil & Gas Variable Frequency Drives Market Analysis

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Low voltage segment is anticipated to grow over USD 4 billion by 2034. Ongoing utilization of these units across the oil and gas applications particularly for pumping systems along with rising demand for units that optimize energy use will complement the industry landscape. Ongoing R&D efforts focus on creating units that can withstand extreme conditions, including high temperatures, humidity, corrosive substances, and vibrations will positively influence the low voltage drives business dynamics.
 

AC segment is anticipated to witness a CAGR of over 3.5% till 2034. Rising energy requirements increase to support expanding industries, transportation networks, and household needs. This rising demand leads to higher consumption of oil and gas, driving industry growth. The integration of advanced units with the use of data analytics and artificial intelligence is expected to reduce downtime and prevent equipment failures, further boosting the AC drives business outlook.
 

U.S. oil & gas variable frequency drives market is set to grow over USD 700 million by 2034. Increasing investments across energy-intensive sectors, rising energy demand and ongoing exploration of oil & gas operations will complement the industry landscape. Increasing energy consumption from several sectors along with Ongoing transitioning from coal to natural gas for energy generation to power factories and production processes will influence the industry growth. For instance, according to the U.S. Energy Information Administration, in 2023, natural gas consumption accounted for approximately 36% of total country’s primary energy consumption. Moreover, rising demand for reliable motor control solutions and growing inclination to reduce carbon emissions, further augmenting the U.S. variable frequency drives industry dynamics.