Global Variable Frequency Drives Market Size, Share, Trends & Forecast to 2027

The global variable frequency drive market size was valued at more than USD 22 billion and expected to register a significant CAGR over 6.2% during the forecast period 2020 to 2026. The increasing rate of urbanization and industrialization is increasing consumer demand, which will result in the growth of industrial and manufacturing sectors, leading to increased demand for VFDs in the forecast period. The market is segmented on the basis of product type, power range, application, end-use, and region. In the application segment, HVAC is expected to register the highest CAGR around 8% during the forecast period.

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The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

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