Variable Frequency Drives (VFD) Market Outlook, Regional Growth & Industry Share By 2028

The global variable frequency drives (VFD) market is projected to witness exponential development by 2028 due to surging energy demand worldwide.

A variable frequency drive controls the frequency and voltage of an electric motor's power supply. It can also control the ramp-up and ramp-down of the motor during start or stop, respectively. By adjusting the motor speed, VFDs improve the overall efficiency of the systems, reduce mechanical stress on the machines, and save energy. Escalating demand for electric vehicles around the world, has augmented industry uptake in recent years.

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Notably, industry players have been engaging in lucrative strategies to gain a competitive edge in the evolving marketplaces, which has favorably impacted the overall business scenario. For instance, in February 2022, WEG Electric Corporation, a leading motor and generator manufacturer, announced the construction of its novel electric motor factory in Portugal. The firm reported an investment of 23.5 million euros to expand its motor manufacturing facilities to increase its production capacity and electrical motor range for large sizes in the region.

The variable frequency drives market has been bifurcated on the basis of end-use, voltage, application, drive, and region. With respect to drive, the market has further been categorized into servo, AC, and DC. The DC sub-segment is poised to reach a significant valuation by 2028, developing at approximately 2.2% CAGR over the analysis period.

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From the application perspective, the global variable frequency drives market has been segmented into extruder, pump, compressor, fan, conveyer, and others. The compressor sub-segment is projected to witness robust growth through the forecast period. Variable frequency drives offer enhanced operational characteristics, including elimination of unloading operation & pressure fluctuations, efficient speed regulation, and better savings, which is set to drive segmental expansion over the forthcoming timespan.

In terms of end-use, the market has been classified into marine, oil & gas, pulp & paper, power generation, mining & metals, and others. The global variable frequency drives market from the pulp & paper sub-segment is anticipated to observe steady progress through the study timeframe. Variable frequency drives provide improved efficiency, reliable control over torque and speed, and reduced production cost, which is estimated to accelerate product adoption in the pulp & paper industry.

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From the regional point of view, the Middle East & Africa variable frequency drives market is speculated to gain a substantial growth momentum through the stipulated period. Mounting demand for energy and increasing investments across large-scale oil & gas and metals & mining operations are expected to promote regional market growth in the coming time period.

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