The variable frequency drive market has been valued at USD 18,198.1 million in the year 2021 and it is estimated to reach USD 26,802.3 million by the year 2027, with a CAGR of 5.1% from 2022 to 2027. variable frequency drive is a type of motor drive used in electro-mechanical drive systems to control AC motor speed and torque by varying motor input frequency and, depending on the topology, to control associated voltage or current variation; these are the main factors that have considerably increased the demand for the variable frequency drive in the market, thereby driving the huge growth of the variable frequency drive market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for the variable frequency drive in the market are mainly the rising demand for process optimization is driving the market. Communication between modern motor controllers, such as VFD and process automation controllers, it is now possible to achieve much higher efficiency along with process improvement by reducing peak demand charges on an electricity bill by understanding in greater detail where and why power consumption varies.

The rising demand for energy efficiency is driving the market. VFD uses an AC motor to control pumps and fans in a system without using valves and dampers. Traditionally, fixed-speed motors have to be controlled using valves and dampers, but they are a source of large amounts of energy loss; these are the main factors that have considerably increased the demand for the variable frequency drive in the market, thereby driving the huge growth of the variable frequency drive market in the upcoming years

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The report is segmented as:

The variable frequency drive Market is segmented on the basis of:

By Product Type (AC, DC, and Servo),

By Power Range (Micro, Low, Medium, High),

By Application (Pumps, Conveyors, HVAC, Electric Fans, Others)

By End-User Industry (Food & Beverage, Oil & Gas, Infrastructure, Agriculture, Others)

Geographical Segmentation:

The variable frequency drive Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, and the rest of the world. North America has the dominant share in the variable frequency drive due to the increasing operations primarily across power generation and the oil and gas industry these are the main factors that have considerably increased the demand for the variable frequency drive in North America, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa will register a slower increase in the variable frequency drive Market

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Impact of COVID-19 on the Market

Covid -19 pandemic has created huge losses in every sector across the world, and a temporary lack of growth in export and import activities, which has impacted the raise of variable frequency to drive market growth. Due to covid-19 many companies have shut down and stopped their production and have decreased the availability of variable frequency drive Due to the government restrictions like lockdown in many countries have stopped the production of products by the manufacturing companies. In recent days relaxation in restrictions by the government and people getting vaccinated to stop the spread of coronavirus are expected to raise the variable frequency and drive market growth.

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