Group items tagged

the 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.

The 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.

The global variable frequency drive market is projected to reach USD 24.3 billion by 2025 from an estimated USD 19.2 billion in 2020, at a CAGR of 4.8% during the forecast period. This growth can be attributed to factors such as growing regulations towards energy efficiency, upgradation & modernization of aging infrastructure for safe & secure electrical distribution systems, and increasing rate of industrialization and urbanization. However, stagnant growth of the oil & gas industry and decrease in the exploration & production activity is hindering the growth of the variable frequency drive market.

The global variable frequency drive market is projected to reach USD 24.3 billion by 2025 from an estimated USD 19.2 billion in 2020, at a CAGR of 4.8% during the forecast period. This growth can be attributed to factors such as growing regulations towards energy efficiency, upgradation & modernization of aging infrastructure for safe & secure electrical distribution systems, and increasing rate of industrialization and urbanization. However, stagnant growth of the oil & gas industry and decrease in the exploration & production activity is hindering the growth of the variable frequency drive market.

The global variable frequency drive market is projected to reach USD 24.3 billion by 2025 from an estimated USD 19.2 billion in 2020, at a CAGR of 4.8% during the forecast period. This growth can be attributed to factors such as growing regulations towards energy efficiency, upgradation & modernization of aging infrastructure for safe & secure electrical distribution systems, and increasing rate of industrialization and urbanization. Variable frequency drives are finding increasing applications in the industrial, power, and infrastructure sectors.

The global variable frequency drive market is projected to reach USD 26.8 billion by 2027 from an estimated USD 21.2 billion in 2022, at a CAGR of 4.8% during the forecast period. Variable frequency drives enable motors to run based on required current demand, rather than running at full speed and reducing output using mechanical controls such as throttles, dampers, or gears. Electric motors can be equipped with frequency converters to operate pumps and fans more efficiently, these factors are expected to drive the demand for global Variable frequency drive market.

According to a new market research report, the global variable frequency drive marketis projected to reach USD 26.8 billion by 2027 from an estimated USD 21.2 billion in 2022, at a CAGR of 4.8% during the forecast period. Variable frequency drives are increasingly being used in the industrial and infrastructure sectors. Major industries that use variable frequency drives are cement, chemical, petrochemical, mining, oil & gas, pulp & paper, and water & wastewater treatment. Variable frequency drives find applications in conveyors, fans, utility pumps, process pumps, fans, blowers, air compressors, process compressors, coolers, cooling tower fans, grinders, crushers, and chippers.These factor would drive the demand for variable frequency drive.