Variable Frequency Drive Market is expected to boost the growth at CAGR of 5.5% from 2022 to 2030
Variable Frequency Drive Industry Overview The global variable frequency drive market size was valued at USD 24.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2030. Increasing penetration of connected devices in various sectors such as commercial, industrial, and residential sectors, coupled with rising demand for variable frequency drive (VFD) due to their benefits such as adjustable speed, dynamic torque control, and energy-saving from sectors such as power generation, automotive, and oil & gas are crucial factors expected to drive the market growth. Additionally, increasing investment in infrastructure development is resulting in high demand for HVAC systems which calls for solutions to improve building energy efficiency this factor is expected to positively impact the target market growth. Gather more insights about the market drivers, restrains and growth of the Global Variable Frequency Drive M...