U.S. Variable Frequency Drives Market Size

U.S. Variable Frequency Drives Market Size

U.S. Variable Frequency Drives Market was estimated at USD 3.2 billion in 2023 and is projected to register over 3.4% CAGR between 2024 and 2032. Growing adoption of advanced technological units for precise speed, and process control, coupled with increasing automation across several industrial applications will complement the business landscape.

Flourishing investments for industrial development, implementation of stringent regulations toward energy consumption and increasing demand for energy efficient systems further influencing the industry outlook. For instance, in July 2024, the U.S. Department of Commerce announced to open a competition for R&D activities of up to USD 1.6 billion to accelerate domestic semiconductor advanced packaging. The CHIPS for America program will award approximately USD 150 million, leveraging private sector investments.