From GlobeNewswire: 2025-01-18 08:00:00

The Variable Frequency Drive (VFD) market was valued at USD 24.65 billion in 2023, expected to reach USD 38.99 billion by 2032, growing at a CAGR of 5.26%. VFDs revolutionize energy use, driving efficiency and sustainability across industries, saving up to 30% of electricity in water supply systems and offering potential savings of 18% in the U.S.

Leading market players in the VFD industry include Siemens, Schneider Electric, ABB Ltd., Yaskawa Electric Corporation, Rockwell Automation, and more. The market report covers key segments like product type, range, application, and end use, with AC drives dominating the market in 2023 due to their versatility and efficiency.

In 2023, the pumps segment led the VFD market, followed by the HVAC segment, which is expected to grow at a 6.2% CAGR. The oil and gas segment led in end-use applications, with the infrastructure segment projected to grow at a 6% CAGR due to investments in smart cities and sustainable construction.

Asia Pacific held the largest market share for VFDs in 2023 at 37%, driven by rapid industrialization and urbanization in countries like China, India, and Japan. Latin America is projected to grow at a 5.8% CAGR, with rising investments in infrastructure projects and adoption of VFD technology for energy efficiency and industrial automation.

Siemens recently launched the SIRIUS 3RC7 Intelligent Link Module for enhanced industrial automation, offering complete data transparency at the field level. ABB introduces a plug-and-play module for automation systems, offering fault detection, predictive maintenance, and real-time updates for enhanced efficiency and cost-effectiveness. MPS Egg Farms partners with ABB to implement sustainable practices and improve animal welfare using ACS580 drives to optimize energy use and reduce waste. This collaboration aligns with MPS’s goal of achieving carbon-neutral egg production.



Read more at GlobeNewswire: Variable Frequency Drive (VFD) Market to Reach USD 38.99