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Asia Pacific Variable Frequency Drives Market Size

Report ID: GMI6590
Published Date: Aug 2023
Report Format: PDF

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Asia Pacific Variable Frequency Drives Market Size

Asia Pacific Variable Frequency Drives Market was valued at USD 9.5 billion in 2023 and is slated to grow at over 4.8% CAGR between 2024 and 2032. Increasing demand for energy-efficient solutions, coupled with the implementation of strict regulations focused on energy consumption, will augment the industry landscape.

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An upsurge in the investments and expenditure for infrastructure advancement has led to a heightened need for HVAC systems that provide innovative solutions to optimize energy usage in infrastructure projects, further contributing to the industry expansion. These systems offer accurate motor speed control, a critical factor for achieving energy conservation, enhancing process management, and advancing automation which in turn, will further accelerate the product deployment.

Asia Pacific Variable Frequency Drives Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Variable Frequency Drives Market Size in 2023:	USD 9.5 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.8%
2032 Value Projection:	USD 14.5 Billion
Historical Data for:	2019 to 2023
No. of Pages:	360
Tables, Charts & Figures:	474
Segments covered:	Voltage, Drive, Application, End-Use and Region
Growth Drivers:	Rising demand for energy efficient systems Accelerating energy demand Increasing research and development initiatives for product development Ongoing investment for the development of advanced infrastructure
Pitfalls & Challenges:	Favorable regulatory framework High initial deployment cost

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Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market size of variable frequency drives in APAC was reached USD 9.5 billion in 2023 and is set to grow at a 4.8% CAGR through 2032, backed by the increasing demand for energy-efficient solutions.

Asia pacific medium voltage drives market was evaluated at over USD 820 million in 2022 and is poised for rapid expansion driven by the extensive adoption across heavy-duty industrial applications for effectively managing significant load-bearing requirements.

AC drives segment is anticipated to witness a growth rate of over 5% through 2032, on account of the rising need for consistent and dependable power supply to counterbalance the escalating electricity consumption.

Nidec Motor Corporation, CG Power & Industrial Solutions Ltd., General Electric, Invertek Drives Ltd., Hiconics Eco-energy Technology Co., Ltd., Bonfiglioli and Teco Electric & Machinery Pte Ltd, among others.