Europe Variable Frequency Drives Market to Witness a Phenomenal Growth by 2024 : Leadin... - 0 views
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Almira Coyne on 24 Feb 21The Europe variable frequency drives market is projected to grow from an estimated USD 5.2 billion in 2019 to USD 6.4 billion by 2024, at a CAGR of 4.13% during the forecast period. The growth of this market is driven by the increasing investments in the energy and construction industries" Browse 65 market data Tables and 33 Figures spread through 116 Pages and in-depth TOC on "Europe VFDs Market - Global Forecast to 2024" Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=220609858 The pump segment, by application, is expected to be the fastest growing market during the forecast period The pump segment is the largest market at a CAGR of 4.61% from 2019 to 2024. The increasing pump exports and its use in various industries are likely to drive the pump segment of the Europe Variable frequency drives market. The 0.5-20 kW segment, by power rating, is expected to be the largest market from 2019 to 2024 The 0.5-20 kW segment is expected to reach USD 755.3 million by 2019, at a CAGR of 4.90% from 2019 to 2024. The high energy savings at a low capital cost increases the demand for the 0.5-20 kW segment. The 20-50 kW segment is the second largest segment. It is expected to reach USD 1,346.8 million by 2019, at a CAGR of 4.28% from 2019 to 2024.