U.S. Variable Frequency Drives Market Analysis

U.S. Variable Frequency Drives Market Analysis

Low voltage drives segment is set to surpass over USD 3.7 billion by 2032. Rising automation across industrial operations, ongoing improvements in technology and focus on safety and adhering to efficiency guidelines will positively influencing the industry growth. Growing demand for cost-effective and energy efficient solutions across a variety of industrial applications, together with increasing emphasis on energy efficiency, will boost the product deployment. Favorable schemes, policies and standards by the respective authorities toward encouraging energy efficiency and various programs offering financial rebates and incentives for the manufacturers investing in enhanced technologies, further fueling the low voltage drive business landscape.
 

Medium voltage drives segment is anticipated to grow on account of rising power generation capacities, increasing expansion of infrastructure projects and stringent regulatory landscape toward emission reduction. The accelerating applicability of these drives across oil & gas, marine and mining applications will further augment the product deployment. Moreover, preference toward reliable motor control across high powered applications and manufacturers focus on development of large-scale units having high-frequency conversion abilities will positively impacting the industry landscape.
 

AC Drives segment is anticipated to observe over 3.5% CAGR through 2032. Growing implementation of robotics across various industrial operations including manufacturing, HVAC and oil & gas, amongst others along with ongoing technological advancements will further accelerate the product demand. Implementation of sensors, enhanced performance to improve functionality, and focus toward limiting emissions have accelerated the product demand. Growing industrial automation, adoption of smart production techniques with advance technologies together with adaptability of these units across variety of applications, including large industrial facilities and small-scale operations will further complement the AC drives industry outlook.
 

Servo drives industry will witness increased momentum on account of ongoing initiatives toward digitalization, preference toward achieving high speed and precise motor control operations. Stringent policies toward energy consumption across industrial operations along with continuous upgradation of the existing machinery will further boost the product deployment.