Home > Semiconductors & Electronics > Imaging > North America Variable Frequency Drives Market

North America Variable Frequency Drives Market Trends

Report ID: GMI8802
Published Date: Apr 2024
Report Format: PDF

Download Free Sample

North America Variable Frequency Drives Market Trends

North American variable frequency drives (VFDs) industry is witnessing significant expansion, driven by heightened demand within industrial automation sectors and the imperative to fortify against erratic energy price fluctuations. Different electrical equipment including the pump systems represent a critical aspect of industrial infrastructure and significantly contribute to energy demand. For instance, as highlighted by the U.S. Department of Energy, pumping systems account for 25% of the total energy consumption by electric motors in the national industrial sector. In addition, growing measures to mitigate the energy loss and boost energy-efficiency of different industrial operations will positively cater to the industry landscape.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

Market size for North America variable frequency drives was valued at USD 4.4 billion in revenue in 2023 and is projected to grow at 4% CAGR from 2024 to 2032, driven by the increasing utilization of industrial automation and introduction of energy efficiency initiatives.

North America low voltage frequency drive market held over 88% revenue share in 2023, backed by the advancements in VFD technology leading to more efficient and cost-effective solutions.

U.S. variable frequency drive market is poised to surpass USD 4.3 billion by 2032 on account of the modernization of aging infrastructure coupled with the upgradation of existing equipment with low energy alternatives.

ABB, Anaheim Automation, Inc., Danfoss, Delta Electronics, Inc., Eaton, Emerson Electric Co., Fuji Electric Corp. of America, Hitachi Industrial Equipment & Solutions America, LLC, Johnson Controls, Mitsubishi Electric Corporation, Nidec Industrial Solutions., PARKER HANNIFIN CORP, Phase Technologies, LLC., Rockwell Automation and Schneider Electric and others.