Variable Frequency Drives Market Trends

Variable Frequency Drives Market Trends

Variable frequency drives industry is set to witness substantial growth owing to increasing focus toward energy efficiency, rising demand for automation across industries and elevating demand for reliable and efficient motor control solutions. For instance, In March 2024, China intensified its energy intensity target for 2024 to align with its climate plan, ending in 2025. The National Development and Reform Commission mentioned challenges in meeting expectations due to rapid growth in industrial and civilian energy consumption. Furthermore, steadily expanding clean power generation, increased industrial investments and expenditure for their development, favorable governmental norms and policies, and the availability of cost-effective products further stimulating the business dynamics.