MEA Variable Frequency Drive Market Size to Grow $1.29 billion by 2030
According to a research report “MEA Variable Frequency Drive Market by Type (AC Drive, DC Drive, Servo Drive), Application (Pumps, Fans & Blowers, Compressors, Conveyors, Others), Power Rating (Micro, Low, Medium, High), Voltage, End User, and Region – Global Trends & Forecast to 2030″, the MEA variable frequency drive market is projected to reach USD 1.29 billion by 2030...
Variable Frequency Drive Market Size to Reach $30.36 billion by 2029
The Variable Frequency Drive market is projected to reach USD 30.36 billion by 2029 from an estimated USD 23.46 billion in 2024, at a CAGR of 5.3% during the forecast period (2024–2029).
The growth in the VFD market is primarily driven by energy efficiency demand across industries, where reduced energy consumption is achieved by motor speed control. Gains in industrial automation as well as digitalization...