Variable Frequency Drive Market Projected to Reach $27.57 billion by 2023 | Leading key players are ABB, Siemens, Schneider Electric, Danfoss, Rockwell - MarketWatch - 0 views
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Almira Coyne on 11 Nov 20The variable frequency drive market is expected to grow from an estimated USD 20.73 billion in 2018 to USD 27.57 billion by 2023, at a CAGR of 5.87%, from 2018 to 2023. Increase in industrialization and urbanization and rising need of energy efficiency across various industries such as oil & gas and power generation are likely to drive the variable frequency drive market.