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 Drive Market categorizes Global Market by Application (Compressors, Conveyors, Pumps, Fans, Extruders), Power Range, Voltage, End-Users ( Oil & Gas, Industrial, Infrastructure, Power Generation), Type (AC, DC, and Servo), & Geography

The variable frequency drive market is expected to grow from an estimated USD 18.61 Billion in 2016 to USD 24.8 Billion by 2021, registering a CAGR of 5.94% from 2016 to 2021.

This growth is attributed to the increasing infrastructural activities including construction of hospitals, and educational institutions, strict regulations related to energy efficiency, reduction of life cycle cost and optimized energy use.