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Variable Frequency Drives Market Size
- Report ID: GMI1185
- Published Date: Jun 2024
- Report Format: PDF
Variable Frequency Drives Market Size
Variable Frequency Drives Market was estimated at USD 21.1 billion in 2023 and is anticipated to observe a CAGR of 4.4% between 2024 and 2032. Increasing investment for the development of industrial infrastructure, rising demand for energy efficient systems and stringent regulations pertaining toward energy consumption are shaping the business dynamics.
For instance, in April 2024, the European Commission permitted a USD 2.4 billion initiative to help the decarbonization of industrial production in Germany, in line with the Green Deal Industrial Plan and intends to accelerate the green transition. Growing automation across various industrial applications along with shifting inclination toward adoption of enhanced technological systems for precise speed, motor, and process control, will further augment the industry landscape.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Variable Frequency Drives Market Size in 2023: | USD 21.1 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 4.4% |
| 2032 Value Projection: | USD 30.9 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 184 |
| Tables, Charts & Figures: | 47 |
| Segments covered: | Voltage, Drive, Application, End-Use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Variable Frequency Drives Market Scope
