Market Analysis Report Variable Frequency Drive Market

Variable Frequency Drive Market forecasted to
reach US$ 2480 million in 2023
The Report Global Variable Frequency Drive Market by Manufacturers,
Countries, Type and Application, Forecast to 2023 provides information on
pricing, market analysis, shares, forecast, and company profiles for key industry
participants.
Global Variable Frequency Drive Market Synopsis:
According to Market Analyst, The Global Variable Frequency Drive Market is expected to grow at an
impressive Compound Annual Growth Rate (CAGR) from 2019 to 2023.
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The Variable Frequency Drive industry has also suffered a certain impact, but still maintained a relatively
optimistic growth, the past four years, Variable Frequency Drive market size to maintain the average
annual growth rate of 4.81% from 1650 million $ in 2014 to 1900 million $ in 2018, Market analysts
believe that in the next few years, Variable Frequency Drive market size will be further expanded, we
expect that by 2023, The market size of the Variable Frequency Drive will reach 2480 million $.
According to Market study, Increasing government regulations for reducing energy consumption to
achieve a Net Zero Energy goal are one of the key trends stoking market growth. Additionally, increased
usage of VFDs across major industry verticals, rapid industrialization and urbanization, along with
increasing investments on infrastructure development, and shifting focus on energy efficiency is
projected to stir up the demand for variable frequency drives worldwide.
Global Variable Frequency Drive Market has been segmented on the Basis of Voltage, Type, Power
Range, Application, End-User and Region. Based on end user, Market can be sub segmented into Oil &
Gas, Power Generation, Industrial, Infrastructure. The industrial segment is one of the major end-users
of the VFD market. Also, this segment is expected to hold the largest market share during the forecast
period.
Regionally, The market in Asia Pacific is estimated to be the largest VFD market, from 2019 to 2023.
Countries such as China, India, and Japan, are heavily investing on the renewable energy, which would
positively impact the VFD market.
Complete report on Variable Frequency Drive Market spread across 125 Pages and No. of Table of
contents. Buy Research @ https://www.businessindustryreports.com/buy-now/121489/single .
The Market is segmented and projected on the basis of major key player’s: