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North America Variable Frequency Drive Market – Industry Trends and Forecast to 2030

Semiconductors and Electronics

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North America Variable Frequency Drive Market – Industry Trends and Forecast to 2030

  • Semiconductors and Electronics
  • Published Report
  • Sep 2023
  • Country Level
  • 350 Pages
  • No of Tables: 52
  • No of Figures: 28

North America Variable Frequency Drive Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD MILLION
Diagram Market Size (Forecast Year) USD 7,717.39
Diagram CAGR %

Major Markets Players

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North American Variable Frequency Drive Market, By Type (AC Drive, DC Drive, and Servo Drive), Power Rating (Micro Power Drive, Low Power Drive, Medium Power Drive, and High Power Drive), Voltage (Low Voltage, Medium Voltage, and High Voltage), Application (Pumps, Fans, Compressors, Conveyors, and Others), End User (Industrial, Oil & Gas, Energy & Power, Infrastructure, Pharmaceutical, Food & Beverages, Agriculture, and Others) - Industry Trends and Forecast to 2030.

North America Variable Frequency Drive Market

North America Variable Frequency Drive Market Analysis and Insights

The North America variable frequency drive market is undergoing a significant transformation due to the increasing demand for energy-efficient devices. This demand surge can be attributed to growing environmental concerns, stringent energy efficiency regulations, and a shift toward sustainable practices. VFDs, also known as adjustable speed drives, are crucial components in industrial and commercial applications, as they regulate the speed and power consumption of electric motors. The rising emphasis on reducing energy consumption and carbon emissions has led industries across North America to seek out VFDs as a solution to optimize energy usage.

North America Variable Frequency Drive MarketNorth America Variable Frequency Drive Market

Data Bridge Market Research analyzes that the North America variable frequency drive market is expected to reach a value of USD 7,717.39 million by 2030, at a CAGR of 4.8% during the forecast period.                 

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 – 2020)

Quantitative Units

Revenue in USD Million

Segments Covered

Type (AC Drive, DC Drive, and Servo Drive), Power Rating (Micro Power Drive, Low Power Drive, Medium Power Drive, and High Power Drive), Voltage (Low Voltage, Medium Voltage, and High Voltage), Application (Pumps, Fans, Compressors, Conveyors, and Others), End User (Industrial, Oil & Gas, Energy & Power, Infrastructure, Pharmaceutical, Food & Beverages, Agriculture, and Others)    

Countries Covered

U.S., Canada, and Mexico

Market Players Covered

ABB, Phase Technologies, LLC., Eaton., Rockwell Automation, Johnson Controls., WEG., Honeywell International Inc., NORD Drivesystems Pvt. Ltd., Inovance Technology Europe GmbH, Anaheim Automation, Inc., SEW-EURODRIVE, Nidec Motor Corporation (A Subsidiary of NIDEC Group Company), TMEIC, YASKAWA ELECTRIC CORPORATION., Gozuk, PARKER HANNIFIN CORP, Delta Electronics, Inc., and Danfoss A/S among others 

Market Definition

Fleet The variable frequency drive market encompasses the production, distribution, and sale of devices designed to regulate electric motor speed and torque. Widely used in industrial and commercial applications, VFDs enable precise control by adjusting input frequency and voltage. This market is characterized by diverse product types, applications spanning HVAC systems to industrial machinery, and a focus on energy efficiency and integration with advanced technologies.

The VFD market's growth is driven by industries seeking energy savings, enhanced motor control, and automation. Competitive dynamics arise from various manufacturers offering a range of VFD products tailored to different power ranges, voltage, and industrial needs. Challenges include ensuring compatibility and addressing electromagnetic interference concerns. Overall, the VFD market plays a pivotal role in optimizing energy consumption and operational efficiency across sectors.

North America Variable Frequency Drive Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:    

Drivers

  • Increasing in Demand for the Energy Efficiency Devices

The North America variable frequency drive market is undergoing a significant transformation due to the increasing demand for energy-efficient devices. This demand surge can be attributed to growing environmental concerns, stringent energy efficiency regulations, and a shift toward sustainable practices. VFDs, also known as adjustable speed drives, are crucial components in industrial and commercial applications, as they regulate the speed and power consumption of electric motors. The rising emphasis on reducing energy consumption and carbon emissions has led industries across North America to seek out VFDs as a solution to optimize energy usage.

  • Technology Advancements in the Variable Frequency Drive

The North American variable frequency drive market is witnessing a dynamic shift driven by rapid technological advancements. These innovations are revolutionizing the capabilities and applications of VFDs, making them more efficient, versatile, and user-friendly. One of the key technological trends is the integration of advanced sensors and IoT capabilities within VFD systems. These sensors provide real-time data on motor performance, energy consumption, and operational health, enabling predictive maintenance strategies and enhancing overall system reliability.

North America Variable Frequency Drive Market

Opportunity

  • Increasing Demand for Variable Frequency Drives in Power Generation

Variable frequency drives (VFDs) play a crucial role in enhancing the efficiency and performance of electric motors in various industries, including power generation. By enabling precise control of motor speed and torque, VFDs contribute to energy savings and improved process management. The North American Variable Frequency Drive Market is experiencing a significant opportunity driven by the increasing demand for VFDs in power generation applications.

Challenge/ Restraint

  • High Cost of Variable Frequency Drive

The North America variable Frequency Drive market has witnessed substantial growth in recent years due to its potential to enhance energy efficiency and optimize industrial processes. However, a significant challenge that has restrained the widespread adoption of VFDs is the relatively high cost associated with these systems. Variable Frequency Drives are complex devices that require advanced technology to control motor speed and voltage, which can lead to higher manufacturing and installation costs. This expense becomes particularly pronounced when retrofitting existing industrial setups with VFDs, making the initial investment a deterrent for many businesses.

  • High Maintenance and Service requirements 

The North America variable frequency drive market is confronted with the significant challenge of high maintenance and service requirements associated with these complex electronic devices. While VFDs offer enhanced control and energy efficiency benefits, their intricate components and electronics demand specialized expertise for maintenance and servicing.

Recent Developments

  • In August 2023, Danfoss A/S introduced the VLT Real-time Clock MCB 117 option for all VLT drives, enhancing data accuracy by providing a consistent system clock with battery backup. Precise time stamps aid in error analysis and troubleshooting, improving event understanding and causal identification. With easy installation and synchronization, this option offers advanced time-stamped data logging benefits for better insights across the entire VLT drive range.
  • In June 2023, Honeywell International Inc.'s dedication to exceptional design was highlighted through its reception of 10 prestigious product design awards, including the Red Dot Design Awards and the iF Design Awards. These accolades underscore Honeywell's commitment to enhancing user experiences and prioritizing safety, efficiency, and productivity across its product offerings. With a history of over 60 international design awards, Honeywell's User Experience (HUE) team's collaborative and user-focused approach consistently shines through in their innovative solutions. 

North America Variable Frequency Drive Market Scope

The North America variable frequency drive market is segmented into five notable segments which are on the basis of type, power rating, voltage, application, and end-user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

Type

  • AC Drive
  • DC Drive
  • Servo Drive

On the basis of type, the market is segmented into AC drive, DC drive, and servo drive.

Power Rating

  • Micro Power Drive
  • Low Power Drive
  • Medium Power Drive
  • High Power Drive

On the basis of power rating, the market is segmented into micro power drive, low power drive, medium power drive, and high power drive.

Voltage

  • Low Voltage
  • Medium Voltage
  • High Voltage

On the basis of voltage, the market is segmented into low voltage, medium voltage, and high voltage.

Application

  • Pumps
  • Fans
  • Compressors
  • Conveyors
  • Others

On the basis of technology, the market is segmented into pumps, fans, compressors, conveyors, and others.

End User

  • Industrial
  • Oil & Gas
  • Energy & Power
  • Infrastructure
  • Pharmaceutical
  • Food & Beverages
  • Agriculture 
  • Others

On the basis of end user, the market is segmented into industrial, oil & gas, energy & power, infrastructure, pharmaceutical, food & beverages, agriculture, and others.

North America Variable Frequency Drive Market

North America Variable Frequency Drive Market Regional Analysis/Insights 

The North America variable frequency drive market is segmented into five notable segments which are on the basis of type, power rating, voltage, application, and end user. 

The countries covered in this market report U.S., Canada, and Mexico.

U.S. is expected to dominate the market because of its robust industrial sector, technological innovation, and emphasis on energy efficiency. The demand for VFDs is expected to remain high, driving market growth. In addition, the country's infrastructure projects and manufacturing activities further contribute to its leading position in the market.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and North America Variable Frequency Drive Market Share Analysis

North America variable frequency drive market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, product width and breadth, application dominance, and product type lifeline curve. The above data points provided are only related to the company’s focus on the market.

Some of the major market players operating in the North America variable frequency drive market are ABB, Phase Technologies, LLC., Eaton., Rockwell Automation, Johnson Controls., WEG., Honeywell International Inc., NORD Drivesystems Pvt. Ltd., Inovance Technology Europe GmbH, Anaheim Automation, Inc., SEW-EURODRIVE, Nidec Motor Corporation (A Subsidiary of NIDEC Group Company), TMEIC, YASKAWA ELECTRIC CORPORATION., Gozuk, PARKER HANNIFIN CORP, Delta Electronics, Inc., and Danfoss A/S among others.


SKU-

TABLE 1 WARRANTY PERIOD

TABLE 2 SINGLE PHASE 220V 50HZ/60HZ INPUT, THREE PHASE OUTPUT

TABLE 3 THREE PHASE 380V 50HZ/60HZ INPUT/OUTPUT

TABLE 4 NORTH AMERICA VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 5 NORTH AMERICA VARIABLE FREQUENCY DRIVE MARKET, BY POWER RATING, 2021-2030 (USD MILLION)

TABLE 6 NORTH AMERICA VARIABLE FREQUENCY DRIVE MARKET, BY VOLTAGE, 2021-2030 (USD MILLION)

TABLE 7 NORTH AMERICA VARIABLE FREQUENCY DRIVE MARKET, BY APPLICATION, 2021-2030 (USD MILLION)

TABLE 8 NORTH AMERICA VARIABLE FREQUENCY DRIVE MARKET, BY END USER, 2021-2030 (USD MILLION)

TABLE 9 NORTH AMERICA INDUSTRIAL IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 10 NORTH AMERICA OIL & GAS IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 11 NORTH AMERICA ENERGY & POWER IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 12 NORTH AMERICA INFRASTRUCTURE IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 13 NORTH AMERICA PHARMACEUTICAL IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 14 NORTH AMERICA FOOD & BEVERAGES IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 15 NORTH AMERICA AGRICULTURE IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 16 NORTH AMERICA VARIABLE FREQUENCY DRIVE MARKET, BY COUNTRY, 2021-2030 (USD MILLION)

TABLE 17 U.S. VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 18 U.S. VARIABLE FREQUENCY DRIVE MARKET, BY POWER RATING, 2021-2030 (USD MILLION)

TABLE 19 U.S. VARIABLE FREQUENCY DRIVE MARKET, BY VOLTAGE, 2021-2030 (USD MILLION)

TABLE 20 U.S. VARIABLE FREQUENCY DRIVE MARKET, BY APPLICATION, 2021-2030 (USD MILLION)

TABLE 21 U.S. VARIABLE FREQUENCY DRIVE MARKET, BY END USER, 2021-2030 (USD MILLION)

TABLE 22 U.S. INDUSTRIAL IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 23 U.S. OIL & GAS IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 24 U.S. ENERGY & POWER IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 25 U.S. INFRASTRUCTURE IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 26 U.S. PHARMACEUTICAL IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 27 U.S. FOOD & BEVERAGES IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 28 U.S. AGRICULTURE IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 29 CANADA VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 30 CANADA VARIABLE FREQUENCY DRIVE MARKET, BY POWER RATING, 2021-2030 (USD MILLION)

TABLE 31 CANADA VARIABLE FREQUENCY DRIVE MARKET, BY VOLTAGE, 2021-2030 (USD MILLION)

TABLE 32 CANADA VARIABLE FREQUENCY DRIVE MARKET, BY APPLICATION, 2021-2030 (USD MILLION)

TABLE 33 CANADA VARIABLE FREQUENCY DRIVE MARKET, BY END USER, 2021-2030 (USD MILLION)

TABLE 34 CANADA INDUSTRIAL IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 35 CANADA OIL & GAS IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 36 CANADA ENERGY & POWER IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 37 CANADA INFRASTRUCTURE IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 38 CANADA PHARMACEUTICAL IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 39 CANADA FOOD & BEVERAGES IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 40 CANADA AGRICULTURE IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 41 MEXICO VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 42 MEXICO VARIABLE FREQUENCY DRIVE MARKET, BY POWER RATING, 2021-2030 (USD MILLION)

TABLE 43 MEXICO VARIABLE FREQUENCY DRIVE MARKET, BY VOLTAGE, 2021-2030 (USD MILLION)

TABLE 44 MEXICO VARIABLE FREQUENCY DRIVE MARKET, BY APPLICATION, 2021-2030 (USD MILLION)

TABLE 45 MEXICO VARIABLE FREQUENCY DRIVE MARKET, BY END USER, 2021-2030 (USD MILLION)

TABLE 46 MEXICO INDUSTRIAL IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 47 MEXICO OIL & GAS IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 48 MEXICO ENERGY & POWER IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 49 MEXICO INFRASTRUCTURE IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 50 MEXICO PHARMACEUTICAL IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 51 MEXICO FOOD & BEVERAGES IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

TABLE 52 MEXICO AGRICULTURE IN VARIABLE FREQUENCY DRIVE MARKET, BY TYPE, 2021-2030 (USD MILLION)

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FREQUENTLY ASK QUESTIONS

North America Variable Frequency Drive Market will be worth USD 7,717.39 million by 2030
North America Variable Frequency Drive Market growth rate is 4.8% during the forecast period.
Increasing Demand for Energy Efficiency Devices and technology Advancements in the Variable Frequency Drive are the growth drivers of the North America Variable Frequency Drive Market.
Basis of type, power rating, voltage, application, and end-user are the factors on which the North America Variable Frequency Drive Market research is based.
Honeywell International Inc.'s dedication to exceptional design was highlighted through its reception of 10 prestigious product design awards, including the Red Dot Design Awards and the iF Design Awards and Danfoss A/S introduced the VLT Real-time Clock MCB 117 option for all VLT drives, enhancing data accuracy by providing a consistent system clock with battery backup are the latest developments in the North America Variable Frequency Drive Market.
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