Global Variable Frequency Drive Market Report Size, Trends, and Growth Opportunity, By Product Type (DC Drives, AC Drives, and Servo Drives), By Application (Extruders, HVAC, Conveyors, Electric Fans, Pumps, and Others), By End User (Food & Beverages, Automotive, Infrastructure, Industrial, Power Generation, and Oil & Gas), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East) and Forecast till 2027
Market Overview
The global variable frequency drive market was valued at USD 25.92 billion in 2022 and is expected to reach USD 27.4 billion by 2027 at a CAGR of 0.929%.
Variable-frequency drives are solid-state regulators or controllers that drive the motor by varying the frequency and voltage transmitted through the electric motor. These drives are widely installed in industrial infrastructure on AC electronic motors. The variable frequency drive market is growing due to rapid industrialization and urbanization and an increase in the usage of VFDs across major industry verticals.
Market Drivers
An increase in demand for renewable energy integration along with stringent directives and standards towards energy efficiency is expected to drive the global variable frequency drive market's growth. Furthermore, Rapid industrialization and Urbanization across the developing economics will have the positive impact on global variable frequency drive market growth. Moreover, a rise in investments in smart and reliable infrastructure is expected to propel the demand for variable-frequency drives across the world. Also, continuous technological advancements will boost the global variable-frequency drive market's growth during this forecast period.
Market Restraint
However, technical concerns and the high cost of equipment are the challenging factors for the market, which are expected to hamper the global variable-frequency drive market's growth.
Impact of COVID-19 on the Market
As China is one major raw material supplier and finished products due to COVID 19 pandemic many government implemented travel restrictions across the world which have led to declining the global variable frequency drive market growth.
Market Segmentation
The global variable frequency drive market is segmented by product type, such as DC drives, AC drives, and servo drives, and by application, such as extruders, HVAC, conveyors, electric fans, pumps, and others. Further, the global variable frequency drive market is segmented by end user, such as food and beverage, automotive, infrastructure, industrial, power generation, and oil and gas.
Also, the global variable frequency drive market is segmented into five regions, such as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Market key Players
Various key players are discussed in this report, such as WEG SA, TMEIC, NIDEC, Hitachi, Fuji, Eaton, Crompton Greaves, Rockwell, Danfoss, Schneider Electric Siemens, and ABB.
Market Taxonomy
By Product Type
•        DC Drives
•        AC Drives
•        Servo Drives
By Application
•        Extruders
•        HVAC
•        Conveyors
•        Electric Fans
•        Pumps
•        Others
By End Use
•        Food & Beverages
•        Automotive
•        Infrastructure
•        Industrial
•        Power Generation
•        Oil and Gas
By Region
•        North America
•        Latin America
•        Europe
•        Asia Pacific
•        Middle East and Africa

Global Variable Frequency Drive Market TOC:
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Variable Frequency Drive Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Variable Frequency Drive Market, By Product Type
5.1 Y-o-Y Growth Comparison, By Product Type 
5.2 Global Variable Frequency Drive Market Share Analysis, By Product Type 
5.3 Global Variable Frequency Drive Market Size and Forecast, By Product Type
5.3.1 DC Drives
5.3.2AC Drives
5.3.3Servo Drives
6 Global Variable Frequency Drive Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Variable Frequency Drive Market Share Analysis, By Application
6.3 Global Variable Frequency Drive Market Size and Forecast, By Application
6.3.1 Extruders
6.3.2 HVAC
6.3.3Conveyors
6.3.4 Electric Fans
6.3.5Pumps
6.3.6Others
7 Global Variable Frequency Drive Market, By End User
7.1 Y-o-Y Growth Comparison, By End User
7.2 Global Variable Frequency Drive Market Share Analysis, By End User
7.3 Global Variable Frequency Drive Market Size and Forecast, By End User
7.3.1 Food & Beverages
7.3.2 Automotive
7.3.3Infrastructure
7.3.4Industrial
7.3.5Power Generation
7.3.6Oil & Gas
8Global Variable Frequency Drive Market, By Region
8.1 Global Variable Frequency Drive Market Share Analysis, By Region
8.2 Global Variable Frequency Drive Market Share Analysis, By Region
8.3 Global Variable Frequency Drive Market Size and Forecast, By Region
9 North America Variable Frequency Drive Market Analysis and Forecast (2022 – 2027)
9.1 Introduction
9.2 North America Variable Frequency Drive Market Share Analysis, By Product Type
9.3 North America Variable Frequency Drive Market Size and Forecast, By Application
9.4 North America Variable Frequency Drive Market Size and Forecast, By End User
9.5 North America Variable Frequency Drive Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10Europe Variable Frequency Drive Market Analysis and Forecast (2022 – 2027)
10.1 Introduction
10.2 Europe Variable Frequency Drive Market Share Analysis, By Product Type 
10.3 Europe Variable Frequency Drive Market Size and Forecast, By Application 
10.4 Europe Variable Frequency Drive Market Size and Forecast, By End User
10.5 Europe Variable Frequency Drive Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.54. Rest of Europe
11Asia Pacific Variable Frequency Drive Market Analysis and Forecast (2022 – 2027)
11.1 Introduction
11.2 Asia Pacific Variable Frequency Drive Market Share Analysis, By Product Type 
11.3 Asia Pacific Variable Frequency Drive Market Size and Forecast, By Application 
11.4 Asia Pacific Variable Frequency Drive Market Size and Forecast, By End User
11.5 Asia Pacific Variable Frequency Drive Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12Latin America Variable Frequency Drive Market Analysis and Forecast (2022 – 2027)
12.1 Introduction
12.2 Latin America Variable Frequency Drive Market Share Analysis, By Product Type 
12.3 Latin America Variable Frequency Drive Market Size and Forecast, By Application 
12.4 Latin America Variable Frequency Drive Market Size and Forecast, By End User
12.5 Latin America Variable Frequency Drive Market Size and Forecast, Country
13Middle East Variable Frequency Drive Market Analysis and Forecast (2022 – 2027)
13.1 Introduction
13.2 Middle East Variable Frequency Drive Market Share Analysis, By Product Type 
13.3 Middle East Variable Frequency Drive Market Size and Forecast, By Application 
13.4 Middle East Variable Frequency Drive Market Size and Forecast, By End User
13.5 Middle East Variable Frequency Drive Market Size and Forecast, By Country
14Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15Company Profiles
15.1 WEG SA
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 TMEIC
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 NIDEC
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Hitachi
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Fuji,
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Eaton,
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Crompton Greaves 
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies 
15.8 Rockwell
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies 
15.9  Danfoss
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies 
15.10 Schneider Electric Siemens
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies 
15.11 ABB
15.11.1 Overview
15.11.2 Offerings
15.11.3 Key Financials
15.11.4 Business Segment & Geographic Overview
15.11.5 Key Market Developments
15.11.6 Key Strategies