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Oil & Gas Variable Frequency Drives Market Share

Report ID: GMI6514
Published Date: Nov 2024
Report Format: PDF

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Oil & Gas Variable Frequency Drives Market Share

Oil & Gas Variable Frequency Drives Market Company Share Analysis, 2024

Leading companies across the oil & gas variable frequency drives industry are prioritizing innovation and strategic planning. These firms are actively developing and integrating advanced technologies to enhance their product offerings and focusing on creating adaptable and advance technological solutions with an aim to meet the diverse and evolving needs of their clients in the oil and gas sector.

Oil & Gas Variable Frequency Drives Market Companies

Major players operating across the industry include:

ABB
CG Power
Danfoss
Eaton
Emerson
Fuji Electric
General Electric
Honeywell
Nidec
Rockwell
Schneider
Siemens
TMEIC
WEG
Yaskawa

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The global market size for oil & gas variable frequency drives was valued at USD 3.5 billion in 2024 and is expected to reach USD 5 billion by 2034, driven by a CAGR of 3.6% from 2025 to 2034.

The AC segment is expected to grow at a CAGR of over 3.5% by 2034, driven by rising energy needs and the integration of advanced units with data analytics and AI.

The U.S. market is projected to exceed USD 700 million by 2034, driven by rising energy demand, investments in energy-intensive sectors, and the transition from coal to natural gas for energy generation.

Major players include ABB, CG Power, Danfoss, Eaton, Emerson, Fuji Electric, General Electric, Honeywell, Nidec, Rockwell, Schneider, Siemens, TMEIC, WEG, and Yaskawa.