Variable Frequency Drives Market size is set to grow by USD 7,124.1 million from 2022 to 2027; the presence of regulations that mandate the use of variable frequency to boost the market – Technavio

NEW YORK, June 26, 2023 /PRNewswire/ — The global variable frequency drives market size is estimated to grow by USD 7,124.1 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.5% during the forecast period. APAC is estimated to account for 36% of the market growth. For more insights on the historic market size (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

What’s New?

• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial  – buy the report!

Variable Frequency Drives Market – Segmentation Assessment
Segment Overview
This report extensively covers market segmentation by end-user (food and beverage, water and wastewater treatment, oil and gas, power generation, and automotive and others), type (low voltage drives and medium voltage drives), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

• The market share growth by the food and beverage segment will be significant for the market’s growth during the forecast period. Food manufacturers use energy-efficient equipment to compete in a highly fragmented global food and beverage industry. Furthermore, variable frequency drives are aiding food and beverage manufacturers not only in fulfilling the sanitary regulatory requirements but also ensuring an energy-efficient solution for food processing. This is expected to augment the demand for variable frequency drives in the food and beverage industry during the forecast period.

Geography Overview
By geography, the global variable frequency drives market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global variable frequency drives market.

• APAC is estimated to contribute 36% to the global market growth. The focus on food safety and inspection systems has started increasing in the region. Furthermore, various small and medium enterprises (SMEs) have also started adopting automated material handling and packaging systems to compete with global vendors. Rising demand for food and beverages, growing population, and increasing disposable income significantly drive the growth of the industry in APAC. 

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report

Variable Frequency Drives Market – Market Dynamics
Key factor driving market growth

The presence of regulations that mandate the use of variable frequency drives in industries is driving the growth of the variable frequency drives market. The change in motor regulation requires industrial operators to shift toward more energy-efficient motors. The shift toward the use of more energy-efficient motors has increased the overall CAPEX for the industrial end-users. The regulation on energy efficiency for motors mandates the use of variable frequency drives with industrial motors. Therefore, with the changing government regulation on motor efficiency, the demand for variable frequency drives is fueling market growth even during the forecast period.

Leading trends influencing the market 

Technological advances are an emerging trend shaping the Variable Frequency Drives Market growth during the forecast period. Conventional variable frequency drives use Active Front End (AFE) rectifiers and multi-purpose transformers to mitigate harmonics. Such additional equipment helps in mitigating harmonics during operations. It also includes downsides such as an increase in wiring requirement, space requirement, and high cost. Hence, such trends boost the market growth during the forecast period.

Major challenges hindering the market growth

The lack of stability in crude oil prices and stagnant growth of the mining industry will challenge the variable frequency drives market during the forecast period. The oil and gas industry is a significant contributor to the global variable frequency drives market. The price of crude oil influences the price of its by-products such as gasoline and lubricants. Most companies are taking slow steps in investing in big projects and waiting for oil prices to stabilize fully.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021,) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Variable Frequency Drives Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the variable frequency drives market between 2023 and 2027
• Precise estimation of the size of the variable frequency drives market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the variable frequency drives market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of variable frequency drives market vendors

Gain instant access to 17,000+ market research reports. 

Technavio’s SUBSCRIPTION platform

Related Reports:

The retimer (redriver) market is estimated to grow at a CAGR of 5.26% between 2022 and 2027. The size of the market is forecast to increase by USD 137.32 million. The retimer (redriver) market report extensively covers market segmentation by application (server, storage, and others), type (redriver and retimer), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The increasing number of investments toward the construction of data centers are notably driving the market growth.

The automotive advanced driver assistance system (ADAS) market size is estimated to grow at a CAGR of 9.3% between 2022 and 2027. The market size is forecast to increase by USD 25,673.24 million. This automotive advanced driver assistance system (ADAS) market report extensively covers market segmentation by application (passenger cars and commercial vehicles), technology (AEBS, TPMS, PAS, LDWS and others), and geography (Europe, North America, APAC, South America, and Middle East and Africa). The decline in sensor prices is notably driving the market growth.

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global variable frequency drives market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on global variable frequency drives market 2017 – 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – End-user Segment 2017 – 2021 ($ million)

• 4.3 Type Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user – Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Food and beverage – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Food and beverage – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Food and beverage – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Food and beverage – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Food and beverage – Year-over-year growth 2022-2027 (%)

• 6.4 Water and wastewater treatment – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Water and wastewater treatment – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Water and wastewater treatment – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Water and wastewater treatment – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Water and wastewater treatment – Year-over-year growth 2022-2027 (%)

• 6.5 Oil and gas – Market size and forecast 2022-2027
• Exhibit 42: Chart on Oil and gas – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Oil and gas – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Oil and gas – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Oil and gas – Year-over-year growth 2022-2027 (%)

• 6.6 Power generation – Market size and forecast 2022-2027
• Exhibit 46: Chart on Power generation – Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Power generation – Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Power generation – Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Power generation – Year-over-year growth 2022-2027 (%)

• 6.7 Automotive and others – Market size and forecast 2022-2027 
• Exhibit 50: Chart on Automotive and others – Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Automotive and others – Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Automotive and others – Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Automotive and others – Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by End-user 
• Exhibit 54: Market opportunity by End-user ($ million)
• Exhibit 55: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 56: Chart on Type – Market share 2022-2027 (%)
• Exhibit 57: Data Table on Type – Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 58: Chart on Comparison by Type
• Exhibit 59: Data Table on Comparison by Type

• 7.3 Low voltage drives – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Low voltage drives – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Low voltage drives – Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Low voltage drives – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Low voltage drives – Year-over-year growth 2022-2027 (%)

• 7.4 Medium voltage drives – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Medium voltage drives – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Medium voltage drives – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Medium voltage drives – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Medium voltage drives – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 68: Market opportunity by Type ($ million)
• Exhibit 69: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027
• Exhibit 75: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027
• Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 North America – Market size and forecast 2022-2027
• Exhibit 83: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027
• Exhibit 91: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027
• Exhibit 95: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 US – Market size and forecast 2022-2027
• Exhibit 99: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.10 Japan – Market size and forecast 2022-2027
• Exhibit 103: Chart on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027
• Exhibit 107: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 UK – Market size and forecast 2022-2027
• Exhibit 111: Chart on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 ABB Ltd. 
• Exhibit 123: ABB Ltd. – Overview
• Exhibit 124: ABB Ltd. – Business segments
• Exhibit 125: ABB Ltd. – Key news
• Exhibit 126: ABB Ltd. – Key offerings
• Exhibit 127: ABB Ltd. – Segment focus

• 12.4 Danaher Corp. 
• Exhibit 128: Danaher Corp. – Overview
• Exhibit 129: Danaher Corp. – Business segments
• Exhibit 130: Danaher Corp. – Key news
• Exhibit 131: Danaher Corp. – Key offerings
• Exhibit 132: Danaher Corp. – Segment focus

• 12.5 Danfoss AS 
• Exhibit 133: Danfoss AS – Overview
• Exhibit 134: Danfoss AS – Business segments
• Exhibit 135: Danfoss AS – Key news
• Exhibit 136: Danfoss AS – Key offerings
• Exhibit 137: Danfoss AS – Segment focus

• 12.6 Eaton Corp. Plc 
• Exhibit 138: Eaton Corp. Plc – Overview
• Exhibit 139: Eaton Corp. Plc – Business segments
• Exhibit 140: Eaton Corp. Plc – Key news
• Exhibit 141: Eaton Corp. Plc – Key offerings
• Exhibit 142: Eaton Corp. Plc – Segment focus

• 12.7 Emerson Electric Co. 
• Exhibit 143: Emerson Electric Co. – Overview
• Exhibit 144: Emerson Electric Co. – Business segments
• Exhibit 145: Emerson Electric Co. – Key news
• Exhibit 146: Emerson Electric Co. – Key offerings
• Exhibit 147: Emerson Electric Co. – Segment focus

• 12.8 Fuji Electric Co. Ltd. 
• Exhibit 148: Fuji Electric Co. Ltd. – Overview
• Exhibit 149: Fuji Electric Co. Ltd. – Business segments
• Exhibit 150: Fuji Electric Co. Ltd. – Key offerings
• Exhibit 151: Fuji Electric Co. Ltd. – Segment focus

• 12.9 Hitachi Ltd. 
• Exhibit 152: Hitachi Ltd. – Overview
• Exhibit 153: Hitachi Ltd. – Business segments
• Exhibit 154: Hitachi Ltd. – Key news
• Exhibit 155: Hitachi Ltd. – Key offerings
• Exhibit 156: Hitachi Ltd. – Segment focus

• 12.10 Honeywell International Inc. 
• Exhibit 157: Honeywell International Inc. – Overview
• Exhibit 158: Honeywell International Inc. – Business segments
• Exhibit 159: Honeywell International Inc. – Key news
• Exhibit 160: Honeywell International Inc. – Key offerings
• Exhibit 161: Honeywell International Inc. – Segment focus

• 12.11 Mitsubishi Electric Corp. 
• Exhibit 162: Mitsubishi Electric Corp. – Overview
• Exhibit 163: Mitsubishi Electric Corp. – Business segments
• Exhibit 164: Mitsubishi Electric Corp. – Key news
• Exhibit 165: Mitsubishi Electric Corp. – Key offerings
• Exhibit 166: Mitsubishi Electric Corp. – Segment focus

• 12.12 Nidec Corp. 
• Exhibit 167: Nidec Corp. – Overview
• Exhibit 168: Nidec Corp. – Business segments
• Exhibit 169: Nidec Corp. – Key news
• Exhibit 170: Nidec Corp. – Key offerings
• Exhibit 171: Nidec Corp. – Segment focus

• 12.13 Rockwell Automation Inc. 
• Exhibit 172: Rockwell Automation Inc. – Overview
• Exhibit 173: Rockwell Automation Inc. – Business segments
• Exhibit 174: Rockwell Automation Inc. – Key news
• Exhibit 175: Rockwell Automation Inc. – Key offerings
• Exhibit 176: Rockwell Automation Inc. – Segment focus

• 12.14 Schneider Electric SE 
• Exhibit 177: Schneider Electric SE – Overview
• Exhibit 178: Schneider Electric SE – Business segments
• Exhibit 179: Schneider Electric SE – Key news
• Exhibit 180: Schneider Electric SE – Key offerings
• Exhibit 181: Schneider Electric SE – Segment focus

• 12.15 Siemens AG 
• Exhibit 182: Siemens AG – Overview
• Exhibit 183: Siemens AG – Business segments
• Exhibit 184: Siemens AG – Key news
• Exhibit 185: Siemens AG – Key offerings
• Exhibit 186: Siemens AG – Segment focus

• 12.16 Spoc Automation Inc. 
• Exhibit 187: Spoc Automation Inc. – Overview
• Exhibit 188: Spoc Automation Inc. – Product / Service
• Exhibit 189: Spoc Automation Inc. – Key offerings

• 12.17 WEG Equipamentos Eletricos S.A. 
• Exhibit 190: WEG Equipamentos Eletricos S.A. – Overview
• Exhibit 191: WEG Equipamentos Eletricos S.A. – Business segments
• Exhibit 192: WEG Equipamentos Eletricos S.A. – Key offerings
• Exhibit 193: WEG Equipamentos Eletricos S.A. – Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist 
• Exhibit 194: Inclusions checklist
• Exhibit 195: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 196: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 197: Research methodology
• Exhibit 198: Validation techniques employed for market sizing
• Exhibit 199: Information sources

• 13.5 List of abbreviations 
• Exhibit 200: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio