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U.S. Variable Frequency Drives Market Size

Report ID: GMI3104
Published Date: Jul 2023
Report Format: PDF

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U.S. Variable Frequency Drives Market Size

U.S. Variable Frequency Drives Market size was valued at USD 3.2 billion in 2022 and is anticipated to grow at over 3% CAGR from 2023 to 2032, on account of the ongoing industrial infrastructure transformation along with the increasing demand for advanced mechanical components. The paradigm shift for the adoption of energy-efficient products coupled with the rising levels of consumer spending is positively influencing the industry landscape. The industry plays a critical role in improving energy efficiency, optimizing processes, and enhancing overall system performance in various sectors, driving its expansion, and offering ample opportunities for businesses which will positively impact the industry outlook.

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A Variable Frequency Drive (VFD) also known as an adjustable speed drive or AC drive is an electronic device used to control the torque and speed of the electric motors by adjusting the frequency and voltage of the power supplied to the motor. These units are widely used in various industries and applications where precise control over motor speed is required. These devices are designed to provide smooth and accurate speed control, allowing motors to operate at different speeds based on the specific requirements of the application.

U.S. Variable Frequency Drives Market Report Attributes
Report Attribute	Details
Base Year:	2023
U.S. Variable Frequency Drives Market Size in 2023:	USD 3.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	3.4%
2032 Value Projection:	USD 4.3 Billion
Historical Data for:	2019 to 2023
No. of Pages:	108
Tables, Charts & Figures:	105
Segments covered:	Voltage, Drive, Application, and End-Use
Growth Drivers:	Accelerating R&D initiatives for product development Favorable regulatory framework to deploy energy efficient systems Continuously increasing energy demand
Pitfalls & Challenges:	High initial installation cost

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The VFDs can offer several beneficial advantages including substantial energy savings, minimum mechanical strain on equipment, and optimized operational flexibility complementing their adoption potential across various applications.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size for variable frequency drives in the U.S. was reached USD 3.2 billion in 2023 and is set to record CAGR 3.4% through 2032, on account of the ongoing industrial infrastructure transformation along with the increasing demand for advanced mechanical components.

The pumps application vertical in the industry is projected to hold a significant share during 2023 to 2032, owing to its ease of integration across various industry verticals, along with energy efficiency with cost savings.

The AC motors are extensively used in various industries owing to their superior performance in both full-load and variable load conditions, which pushing the demand for AC variable frequency drives.

General Electric, Siemens, Johnson Controls, Honeywell International, Inc., Emerson Electric Co., ABB, Mitsubishi Electric Corporation, Schneider Electric, Eaton, Fuji Electric Corp. of America, Rockwell Automation, WEG, Yaskawa America, Inc., Danfoss, Nidec Industrial Solutions.