Global Variable Frequency Drive Market Size By Type, By Power Range, By Application, By End-User, By Geographic Scope And Forecast
Variable Frequency Drive Market Size And Forecast
Variable Frequency Drive Market was valued at USD 20.77 Billion in 2019 and is projected to reach USD 32.19 Billion by 2027, growing at a CAGR of 5.64 % from 2020 to 2027.
Global Variable Frequency Drive Market Outlook
The rising need for energy efficiency, growing customer inclination toward renewable energy integration, and increasing demand for variable frequency drives in industrial applications are expected to boost the growth of the global variable frequency drive market. Moreover, the increasing rate of urbanization and industrialization is surging the consumer demand globally, this factor is likely to drive the demand for the forecast period.
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The Global Variable Frequency Drive Market is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Variable Frequency Drive Market Competitive Landscape
The Global Variable Frequency Drive Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as ABB, Eaton, General Electric, Hitachi Ltd., Rockwell Automation Inc., Schneider Electric, Siemens AG, The Danfoss Group, WEG S.A., Yaskawa Electric Corporation, and Others.
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