List of Contents

Variable Frequency Drive Market Size, Share, and Trends 2024 to 2034

The global variable frequency drive market size accounted for USD 2.24 billion in 2024, grew to USD 2.33 billion in 2025 and is predicted to surpass around USD 3.31 billion by 2034, representing a healthy CAGR of 4% between 2024 and 2034.

  • Last Updated : December 2024
  • Report Code : 1848
  • Category : Semiconductor and Electronic

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Variable Frequency Drive Market 

5.1. COVID-19 Landscape: Variable Frequency Drive Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Variable Frequency Drive Market, By Product

8.1. Variable Frequency Drive Market, by Product, 2024-2034

8.1.1. AC Drives

8.1.1.1. Market Revenue and Forecast (2021-2034)

8.1.2. DC Drives

8.1.2.1. Market Revenue and Forecast (2021-2034)

8.1.3. Servo Drives

8.1.3.1. Market Revenue and Forecast (2021-2034)

Chapter 9. Global Variable Frequency Drive Market, By Power Range

9.1. Variable Frequency Drive Market, by Power Range, 2024-2034

9.1.1. Micro

9.1.1.1. Market Revenue and Forecast (2021-2034)

9.1.2. Low

9.1.2.1. Market Revenue and Forecast (2021-2034)

9.1.3. Medium

9.1.3.1. Market Revenue and Forecast (2021-2034)

9.1.4. High

9.1.4.1. Market Revenue and Forecast (2021-2034)

Chapter 10. Global Variable Frequency Drive Market, By Voltage Type 

10.1. Variable Frequency Drive Market, by Voltage Type, 2024-2034

10.1.1. Low Voltage

10.1.1.1. Market Revenue and Forecast (2021-2034)

10.1.2. Medium Voltage

10.1.2.1. Market Revenue and Forecast (2021-2034)

Chapter 11. Global Variable Frequency Drive Market, By Application

11.1. Variable Frequency Drive Market, by Application, 2024-2034

11.1.1. Pumps

11.1.1.1. Market Revenue and Forecast (2021-2034)

11.1.2. Electric Fan

11.1.2.1. Market Revenue and Forecast (2021-2034)

11.1.3. HVAC

11.1.3.1. Market Revenue and Forecast (2021-2034)

11.1.4. Conveyors

11.1.4.1. Market Revenue and Forecast (2021-2034)

11.1.5. Extruders

11.1.6.1. Market Revenue and Forecast (2021-2034)

11.1.6. Others

11.1.5.1. Market Revenue and Forecast (2021-2034)

Chapter 12. Global Variable Frequency Drive Market, By End User

12.1. Variable Frequency Drive Market, by End User, 2024-2034

12.1.1. Oil & gas

12.1.1.1. Market Revenue and Forecast (2021-2034)

12.1.2. Industrial

12.1.2.1. Market Revenue and Forecast (2021-2034)

12.1.3. Power

12.1.3.1. Market Revenue and Forecast (2021-2034)

12.1.4. Infrastructure

12.1.4.1. Market Revenue and Forecast (2021-2034)

Chapter 13. Global Variable Frequency Drive Market, Regional Estimates and Trend Forecast

13.1. North America

13.1.1. Market Revenue and Forecast, by Product (2021-2034)

13.1.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.1.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.1.4. Market Revenue and Forecast, by Application (2021-2034)

13.1.5. Market Revenue and Forecast, by End User (2021-2034)

13.1.6. U.S.

13.1.6.1. Market Revenue and Forecast, by Product (2021-2034)

13.1.6.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.1.6.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.1.6.4. Market Revenue and Forecast, by Application (2021-2034)

13.1.7. Market Revenue and Forecast, by End User (2021-2034) 

13.1.8. Rest of North America

13.1.8.1. Market Revenue and Forecast, by Product (2021-2034)

13.1.8.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.1.8.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.1.8.4. Market Revenue and Forecast, by Application (2021-2034)

13.1.8.5. Market Revenue and Forecast, by End User (2021-2034)

13.2. Europe

13.2.1. Market Revenue and Forecast, by Product (2021-2034)

13.2.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.2.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.2.4. Market Revenue and Forecast, by Application (2021-2034) 

13.2.5. Market Revenue and Forecast, by End User (2021-2034) 

13.2.6. UK

13.2.6.1. Market Revenue and Forecast, by Product (2021-2034)

13.2.6.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.2.6.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.2.7. Market Revenue and Forecast, by Application (2021-2034) 

13.2.8. Market Revenue and Forecast, by End User (2021-2034) 

13.2.9. Germany

13.2.9.1. Market Revenue and Forecast, by Product (2021-2034)

13.2.9.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.2.9.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.2.10. Market Revenue and Forecast, by Application (2021-2034)

13.2.11. Market Revenue and Forecast, by End User (2021-2034)

13.2.12. France

13.2.12.1. Market Revenue and Forecast, by Product (2021-2034)

13.2.12.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.2.12.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.2.12.4. Market Revenue and Forecast, by Application (2021-2034)

13.2.13. Market Revenue and Forecast, by End User (2021-2034)

13.2.14. Rest of Europe

13.2.14.1. Market Revenue and Forecast, by Product (2021-2034)

13.2.14.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.2.14.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.2.14.4. Market Revenue and Forecast, by Application (2021-2034)

13.2.15. Market Revenue and Forecast, by End User (2021-2034)

13.3. APAC

13.3.1. Market Revenue and Forecast, by Product (2021-2034)

13.3.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.3.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.3.4. Market Revenue and Forecast, by Application (2021-2034)

13.3.5. Market Revenue and Forecast, by End User (2021-2034)

13.3.6. India

13.3.6.1. Market Revenue and Forecast, by Product (2021-2034)

13.3.6.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.3.6.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.3.6.4. Market Revenue and Forecast, by Application (2021-2034)

13.3.7. Market Revenue and Forecast, by End User (2021-2034)

13.3.8. China

13.3.8.1. Market Revenue and Forecast, by Product (2021-2034)

13.3.8.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.3.8.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.3.8.4. Market Revenue and Forecast, by Application (2021-2034)

13.3.9. Market Revenue and Forecast, by End User (2021-2034)

13.3.10. Japan

13.3.10.1. Market Revenue and Forecast, by Product (2021-2034)

13.3.10.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.3.10.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.3.10.4. Market Revenue and Forecast, by Application (2021-2034)

13.3.10.5. Market Revenue and Forecast, by End User (2021-2034)

13.3.11. Rest of APAC

13.3.11.1. Market Revenue and Forecast, by Product (2021-2034)

13.3.11.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.3.11.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.3.11.4. Market Revenue and Forecast, by Application (2021-2034)

13.3.11.5. Market Revenue and Forecast, by End User (2021-2034)

13.4. MEA

13.4.1. Market Revenue and Forecast, by Product (2021-2034)

13.4.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.4.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.4.4. Market Revenue and Forecast, by Application (2021-2034)

13.4.5. Market Revenue and Forecast, by End User (2021-2034)

13.4.6. GCC

13.4.6.1. Market Revenue and Forecast, by Product (2021-2034)

13.4.6.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.4.6.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.4.6.4. Market Revenue and Forecast, by Application (2021-2034)

13.4.7. Market Revenue and Forecast, by End User (2021-2034)

13.4.8. North Africa

13.4.8.1. Market Revenue and Forecast, by Product (2021-2034)

13.4.8.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.4.8.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.4.8.4. Market Revenue and Forecast, by Application (2021-2034)

13.4.9. Market Revenue and Forecast, by End User (2021-2034)

13.4.10. South Africa

13.4.10.1. Market Revenue and Forecast, by Product (2021-2034)

13.4.10.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.4.10.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.4.10.4. Market Revenue and Forecast, by Application (2021-2034)

13.4.10.5. Market Revenue and Forecast, by End User (2021-2034)

13.4.11. Rest of MEA

13.4.11.1. Market Revenue and Forecast, by Product (2021-2034)

13.4.11.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.4.11.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.4.11.4. Market Revenue and Forecast, by Application (2021-2034)

13.4.11.5. Market Revenue and Forecast, by End User (2021-2034)

13.5. Latin America

13.5.1. Market Revenue and Forecast, by Product (2021-2034)

13.5.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.5.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.5.4. Market Revenue and Forecast, by Application (2021-2034)

13.5.5. Market Revenue and Forecast, by End User (2021-2034)

13.5.6. Brazil

13.5.6.1. Market Revenue and Forecast, by Product (2021-2034)

13.5.6.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.5.6.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.5.6.4. Market Revenue and Forecast, by Application (2021-2034)

13.5.7. Market Revenue and Forecast, by End User (2021-2034)

13.5.8. Rest of LATAM

13.5.8.1. Market Revenue and Forecast, by Product (2021-2034)

13.5.8.2. Market Revenue and Forecast, by Power Range (2021-2034)

13.5.8.3. Market Revenue and Forecast, by Voltage Type (2021-2034)

13.5.8.4. Market Revenue and Forecast, by Application (2021-2034)

13.5.8.5. Market Revenue and Forecast, by End User (2021-2034)

Chapter 14. Company Profiles

14.1. ABB Ltd

14.1.1. Company Overview

14.1.2. Product Offerings

14.1.3. Financial Performance

14.1.4. Recent Initiatives

14.2. Siemens AG

14.2.1. Company Overview

14.2.2. Product Offerings

14.2.3. Financial Performance

14.2.4. Recent Initiatives

14.3. Danfoss A/S

14.3.1. Company Overview

14.3.2. Product Offerings

14.3.3. Financial Performance

14.3.4. Recent Initiatives

14.4. Rockwell Automation

14.4.1. Company Overview

14.4.2. Product Offerings

14.4.3. Financial Performance

14.4.4. Recent Initiatives

14.5. GE Energy Power Conversion

14.5.1. Company Overview

14.5.2. Product Offerings

14.5.3. Financial Performance

14.5.4. Recent Initiatives

14.6. Toshiba International Corporation

14.6.1. Company Overview

14.6.2. Product Offerings

14.6.3. Financial Performance

14.6.4. Recent Initiatives

14.7. Schneider Electric

14.7.1. Company Overview

14.7.2. Product Offerings

14.7.3. Financial Performance

14.7.4. Recent Initiatives

14.8. Mitsubishi Electric Corporation

14.8.1. Company Overview

14.8.2. Product Offerings

14.8.3. Financial Performance

14.8.4. Recent Initiatives

14.9. Honeywell International Inc.

14.9.1. Company Overview

14.9.2. Product Offerings

14.9.3. Financial Performance

14.9.4. Recent Initiatives

14.10. Emerson Industrial Automation

14.10.1. Company Overview

14.10.2. Product Offerings

14.10.3. Financial Performance

14.10.4. Recent Initiatives

Chapter 15. Research Methodology

15.1. Primary Research

15.2. Secondary Research

15.3. Assumptions

Chapter 16. Appendix

16.1. About Us

16.2. Glossary of Terms

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Frequently Asked Questions

The global variable frequency drive market size was accounted at USD 2.24 billion in 2024 and it is expected to reach around USD 3.31 billion by 2034.

The global variable frequency drive market is poised to grow at a CAGR of 4.0% from 2024 to 2034.

The major players operating in the variable frequency drive market are ABB Ltd,Siemens AG, Danfoss A/S, Rockwell Automation, GE Energy Power Conversion, Toshiba International Corporation, Schneider Electric, Mitsubishi Electric Corporation, Honeywell International Inc., Emerson Industrial Automation, Fuji Electric Co. Ltd, Johnson Controls Inc., Eaton PLC, Hitachi Ltd

Greater than ever industrialization and growing demand for energy efficiency.

Asia Pacific region will lead the global variable frequency drive market during the forecast period 2024 to 2034.

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