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U.S. Variable Frequency Drives Market Trends

Report ID: GMI3104
Published Date: Jul 2024
Report Format: PDF

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U.S. Variable Frequency Drives Market Trends

U.S. variable frequency drives industry is anticipated to witness significant growth on account of growing focus on energy efficiency, increasing demand for efficient motor control solutions accelerating automation across various industries. Expanding clean energy generation, favorable governmental standards, increasing adoption of smart manufacturing, availability of economical products and availability of financial grants and schemes for domestic manufacturing will further augmenting the industry landscape. For instance, in March 2023, the U.S. government announced a funding of USD 50 million to ensure high performance computing and smart manufacturing will be accessible by domestic firms. Moreover, implementation of internet of things (IoT), adoption of artificial intelligence technologies, smart manufacturing practices and industry 4.0 have positively influenced the business dynamics.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

U.S. Variable Frequency Drives Market Size was evaluated at over USD 3.2 billion in 2023 and will record CAGR 3.4% through 2032, on account of growing adoption of advanced technological units for precise speed, and process control, coupled with increasing automation across several industrial applications.

Low voltage drives segment is set to surpass USD 3.7 billion by 2032, owing to rising automation across industrial operations, ongoing improvements in technology, and focus on safety and adhering to efficiency guidelines.

AC Drives segment is anticipated to observe over 3.5% CAGR through 2032, backed by the growing implementation of robotics across various industrial operations including manufacturing, HVAC and oil & gas.

General Electric, Siemens, Johnson Controls, Honeywell International, Inc., Emerson Electric Co., ABB, Mitsubishi Electric Corporation, Schneider Electric, Eaton, Fuji Electric Corp. of America, Rockwell Automation, WEG, Yaskawa America, Inc., Danfoss, Nidec Industrial Solutions, among others.