Increase in Demand for Energy Efficiency Devices Boosts the Variable Speed Drive Market

Variable Speed Drive Market Outlook – 2023

Global Variable Speed Drive Market was valued at $18,004 million in 2016, and is projected to reach at $26,544 million by 2023, growing at a CAGR of 5.6% from 2023 to 2026.

At present, North America dominates this market. In 2023, China is expected to register the highest growth in Asia-Pacific. Similarly, the UK is expected to lead the overall market in the European region during the forecast period. Presently, the U.S. is expected to dominate the North American market.

To Explore More, Make Purchase Enquiryhttps://www.alliedmarketresearch.com/purchase-enquiry/4546

Increase in urbanization and industrialization in the emerging countries such as India, China, Brazil, and others drive the demand for the variable speed drive market. Further, the growth in need for energy efficiency, rise in trend of industrial automation, and reduction in operating costs of any intensive industry fuel the market growth. However, high cost of deployment is expected restrain the growth of the market.

In 2016, the low voltage segment dominated the global variable speed drive market, in terms of revenue. However, based on application system, pump is projected to dominate the global market, followed by fan in 2023.

Download Sample Report in PDF @ https://www.alliedmarketresearch.com/request-sample/4546

Key Findings of the Variable Speed Drive Market:

  • Mining & Minerals is expected to generate the highest revenue in 2016.
  • In 2016, the AC drive segment accounted for the highest revenue in the variable speed drive market.
  • Asia-Pacific is anticipated to exhibit a highest CAGR during the forecast period.

The key players profiled in the report include ABB Ltd., Siemens AG, Rockwell Automation Inc., Yaskawa Electric Corporation, General Electric, Crompton Greaves, WEG, Schneider, Emerson Electric, and Danfoss.

Explore More Studies:

Micro Inverter Market is Expected to Garner $2.7 Billion by 2022

Interactive Display Market Expected to Reach $29.19 Billion by 2026

Nanosensors Market Projected to Reach $1,321.30 Million by 2026

Beacon Market Expected to Reach $14.8 Billion by 2024

Embedded Processor Market expected to reach $36,381.4 million by 2026

Non-Volatile Memory (NVM) Market Expected to Grow $82 Billion by 2022

About Us:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

Follow us on LinkedIn and Twitter

Comments

comments

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *