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U.S. Variable Frequency Drive Market Size, By Voltage (Low, Medium), By Drive (AC, DC, Servo), By Application (Pump, Fan, Conveyor, Compressor, Extruder), By End-use (Oil & Gas, Power Generation, Mining & Metals, Pulp & Paper, Marine), COVID-19 Impact Analysis, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3104
  • Published Date: Feb 2022
  • Report Format: PDF

Industry Trends

U.S. Variable Frequency Drive Market size exceeded USD 2 billion in 2021 and is anticipated to grow at a CAGR of over 3% from 2022 to 2028. Rapidly transforming industrial infrastructure along with the increasing demand for advanced pumps, fans, and other mechanical components will boost the industry landscape.

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The sudden outbreak of COVID-19 pandemic originating from the Chinese city of Wuhan, has swayed various industries in observing plummeting demand. The stringent measures by state, regional, and federal governments to control the spread of viral disease have left various economies in turmoil. Shutdown of industrial operations, complete regional and national lockdowns, social distancing norms, and constrained global trade activities are some of the key pandemic-induced factors that hindered the U.S. variable frequency drive market pace. Additionally, the disruptions in global supply chain networks affected the availability of raw materials and final products across territories.

However, many prominent variable frequency drive manufacturers operating across different geographies have introduced stern action plans to mitigate the COVID-19 impact on their businesses. The companies have entered in new mergers, acquisitions, partnerships, and collaboration initiatives to direct its product portfolio toward emergency services including healthcare establishments.

Wide application potential coupled with enhanced operational performance to accelerate AC VFD segment growth

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AC motors are widely adopted across different verticals owing to their better functioning capabilities at full load and variable load conditions. Effective integration of relatable power VFD devices can significantly improve the speed control of the system, thereby meeting the desired requirements.

Additionally, ongoing refurbishment initiatives across the industrial establishments along with growing new installations to support the advanced automation and feedback communication will favor the DC U.S. VFD market size.

Transforming energy efficiency classes with stern regulatory standards to drive low voltage product deployment

Medium voltage segment in the U.S. variable frequency drive market are projected to observe 4% growth rate through 2028 as the products are designed to function at voltage ratings of over 1,000 V to support high power operations. Besides, continuous efforts by industry participants to develop large-scale drives with high frequency conversion capabilities will favor the product adoption rate.

Diversified product options ranging from Micro VFDs with ratings of less than 1 kW to large industrial and machinery drives with MW scale outputs will favor the low voltage drives market growth. Additionally, detailed standards pertaining to the installation and operation of LV drives will shape the segment expansion.


Continuously expanding industrial infrastructure coupled with significantly rising energy intake across electrical systems to stimulate the product demand

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Pumps segment in the U.S. variable frequency drive market is poised to account for significant revenue share owing to their easy integration across industry verticals. Additionally, pump systems are an integral part of the industrial infrastructure responsible for a substantial energy demand. For instance, as per the U.S. Department of Energy, pumping systems totals for one-fourth of the total energy consumption by electric motors across the national industrial sector. The growing emphasis to operate the pumping systems in an optimized way to maintain the profitability and cut operational & maintenance costs will favor the segment progression. Additionally, VFD units are widely installed with the industrial fans to reduce the motor starting current and minimize the impact of fans on electrical systems, reducing the overall costs.

New investments to explore large-scale assets across different end-user verticals to act as a vital catalyst for the U.S. variable frequency drive market expansion

Continuously rising activities to refurbish prevailing systems with advanced energy-efficient technologies will cater to the demand for VFD units. Additionally, the introduction of new small, medium & large-scale projects across end-user industries including oil & gas, metals & mining, and power generation, among others, will stimulate the product adoption. For instance, in January 2022, the U.S. Energy Information Administration (EIA) published that the total oil production from the Permian Region, the nation’s largest producing region, equaled about five million barrels per day (Mbpd) in January 2022. The government body also reported that the value increased by around 13% as compared to the corresponding month in 2021. Besides, growing initiatives to establish new renewable as well as conventional power generation facilities will favor the industry value. VFDs are increasingly deployed across systems utilizing renewable power sources including solar and wind and utilize the low carbon energy to power electrical systems.

Increasing electric losses coupled with the growing integration of Industrial IoT to foster the U.S. variable frequency drive market revenue

The soaring electrical losses across the national power grid systems is a primary matter of concern for various industries. For instance, in May 2021, the U.S. EIA reported that the country observed a total power generation of 92.9 quadrillion British thermal units (Btu) in 2020. The organization further stated that the electrical system energy losses accounted for 23.2 quadrillion Btu or about 25% of the total production. Consequently, the national governments have introduced encouraging policy framework to support the adoption of technological breakthroughs and minimize these losses, generating a demand for energy-efficient systems including VFD devices.

New combat plans by industry players to curb the impact of the pandemic will favor the market demand

Major participants actively participating across the U.S. variable frequency drive market consist of Siemens, Johnson Controls, Honeywell International, Inc., GE, Emerson Electric Co., ABB, Schneider Electric, Mitsubishi Electric Corporation, Eaton, Fuji Electric Co., Ltd., Rockwell Automation, Inc., WEG, Yaskawa America, Inc., Danfoss, Hitachi Ltd., Nidec Industrial Solutions, and Triol Corporation.

The U.S. variable frequency drive market research report includes in-depth coverage of the industry with estimates & forecasts in terms of “’000 Units” & “USD Million” from 2018 to 2028 for the following segments:

Market, By Voltage

  • Low
  • Medium

Market, By Drive

  • AC
  • DC
  • Servo

Market, By Application

  • Pump
  • Fan
  • Conveyor
  • Compressor
  • Extruder
  • Others

Market, By End-use

  • Oil & Gas
  • Power Generation
  • Mining & Metals
  • Pulp & Paper
  • Marine
  • Others
Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

Market size of U.S. variable frequency drives surpassed USD 2 billion in 2021 and is expected to expand at a CAGR of 3% from 2022 to 2028 driven by the surging demand for advanced fans, pumps, and other mechanical components.
The pumps segment is expected to record substantial growth through 2028 considering their easy integration across various industry verticals.
The market share from medium voltage drives is set to expand at a rate of 4% through 2028 owing to the design of the product for functioning at voltage ratings of over 1,000 V to support high power operations.
Key companies in the market comprise Johnson Controls, GE, Eaton, Siemens, Fuji Electric Co., Ltd., Hitachi Ltd., WEG, Schneider Electric, Triol Corporation, Yaskawa America, Inc., Rockwell Automation, Inc., and others.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 17
  • Tables & Figures: 63
  • Countries covered: 1
  • Pages: 105
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