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Variable Frequency Drives Market Share

Report ID: GMI1185
Published Date: Jun 2023
Report Format: PDF

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Variable Frequency Drives Market Share

Key companies in the variable frequency drives market include

Siemens
Johnson Controls
ABB
Honeywell International, Inc.
Emerson Electric Co.
Mitsubishi Electric Corporation
Schneider Electric
Eaton
Rockwell Automation
Fuji Electric Co., Ltd.
WEG
YASKAWA ELECTRIC CORPORATION
Danfoss
Hitachi Industrial Equipment Systems Co., Ltd.
Nidec Motor Corporation
Bosch Rexroth Corporation
CG Power & Industrial Solutions Ltd.
General Electric
Invertek Drives Ltd
Hiconics Eco-energy Technology Co., Ltd.

Eminent manufacturers operating across the market are focusing on strengthening their industry presence by forming strategic alliances and partnerships to introduce new technological innovations along with mergers and acquisitions. For instance, in September 2022, Bosch Rexroth AG completed the acquisition of the Israel based motion control company called Elmo Motion Control Ltd. The takeover is projected to add to the company's product portfolio and help the organization in accelerating its position across automation, smart factory, and robotics domains.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of variable frequency drive crossed USD 21.1 billion in 2023 and is poised to witness a 4.4% CAGR from 2024 to 2032, driven by the escalating demand for energy-efficient systems and stringent regulatory framework concerning energy consumption.

Low voltage drive segment is likely to register 4% CAGR through 2032, credited to their increasing utilization of low voltage frequency drives across several industrial applications due to their low costs and less maintenance requirements.

Asia Pacific market size surpass USD 14.5 billion by 2032, owing to an increased emphasis on clean power generation, supportive government policies, and increasing investments in the industrial sector.

Notable players in this industry include Siemens, Johnson Controls, ABB, Honeywell International, Inc., Emerson Electric Co., Mitsubishi Electric Corporation, Schneider Electric, Eaton, Rockwell Automation, Fuji Electric Co., Ltd., WEG, YASKAWA ELECTRIC CORPORATION, Danfoss, and Hitachi Industrial Equipment Systems Co., Ltd.