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Variable Frequency Drives Market Share

Report ID: GMI1185
Published Date: Jun 2024
Report Format: PDF

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Variable Frequency Drives Market Share

Variable Frequency Drives Market Company Share Analysis, 2023

Major manufacturers operating in the variable frequency drives industry are focusing on forming strategic agreements, partnerships, collaborations, and introducing innovative technologies to enhance their competitiveness over the others. Key players including ABB, Fuji Electric Co. Ltd., Siemens, GE Vernova, Mitsubishi Electric Corporation, and Yaskawa Electric Corporation, among other, holds majority of the market share.

Variable Frequency Drives Market Companies

Major manufacturers operating across the industry consists of:

ABB
Beckhoff Automation
Bosch Rexroth Corporation
Danfoss
Emerson Electric Co.
Eaton
Fuji Electric Co., Ltd.
GE Vernova
Hiconics Eco-energy Technology Co., Ltd.
Hitachi Industrial Equipment Systems Co., Ltd.
Honeywell International, Inc.
Invertek Drives Ltd.
Johnson Controls
Mitsubishi Electric Corporation
Nidec Motor Corporation
Rockwell Automation
Schneider Electric
Siemens
WEG
YASKAWA ELECTRIC CORPORATION

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size for variable frequency drives was USD 21.1 billion in 2023 and is anticipated to observe 4.4% CAGR during 2024- 2032, driven by increasing investment for the development of industrial infrastructure and the rising demand for energy efficient systems.

Low voltage variable frequency drives market is set to surpass USD 27 billion by 2032, driven by the growing emphasis on industrial automation and energy efficiency.

Asia Pacific market size is set to exceed USD 14 billion by 2032, driven by increasing clean power generation and flourishing industrial investments for their development.

ABB, Beckhoff Automation, Bosch Rexroth Corporation, Danfoss, Emerson Electric Co, Eaton, Fuji Electric Co., Ltd, and GE Vernova among others.