Variable Frequency Drives Market Size

Variable Frequency Drives Market Size

Variable Frequency Drives Market size valued at USD 21.1 billion in 2023 and is set to grow at a CAGR of 4.4% between 2023 and 2032. The industry growth is owing to the rising demand for energy efficient systems along with introduction of stringent regulations concerning toward energy consumption. Growing investments and expenditure for infrastructure development has resulted in elevated demand for heating, air conditioning (HVAC) and ventilation systems offering solutions to enhance infrastructure energy output are some of the key factors positively impacting the industry growth. The ability of these units to offer precise control of motor speed that is required for energy savings, process control, and automation will further boost the business dynamics.

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Variable Frequency Drives (VFDs), also known as adjustable speed drives (ASDs) or variable speed drives (VSDs), are the electronic devices that control the torque and speed of a motor system by altering the voltage and frequency of the supplied power. They can be used in a variety of industrial and commercial applications, including fans, pumps, conveyors, and compressors, to improve energy efficiency and reduce wear and tear on equipment. By adjusting the motor speed to match the load requirements, these units can reduce energy consumption and lower operating costs.