PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1674145
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1674145
North America Variable Frequency Drive Market, By Voltage, By Application, By End-use Industry
Global North America Variable Frequency Drive Market is estimated to be valued at USD 6,020.1 Mn in 2025 and is expected to reach USD 8,253.1 Mn by 2032, growing at a compound annual growth rate (CAGR) of 4.6% from 2025 to 2032.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2024 | Market Size in 2025: | USD 6,020.1 Mn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 4.60% | 2032 Value Projection: | USD 8,253.1 Mn |
The variable frequency drive (VFD) market in North America has been witnessing significant growth over the past few years. A VFD is a type of motor controller that drives an electric motor by varying the frequency and voltage supplied to the electric motor. It is used in industrial applications where controlling the motor speed is important for process control, motor energy savings, and better motor control. VFD adoption in North America is driven by increased focus on reducing energy costs in industries such as oil & gas, mining, food & beverage, and pulp & paper. Stringent energy efficiency regulations and growing need for controlling motor speed according to system requirements are further propelling the North America variable frequency drive market.
Market Dynamics:
The North America variable frequency drive market is driven by growing demand from industries such as oil & gas, mining, food & beverage and pulp & paper. Increasing energy costs have compelled industrial facilities to focus on reducing energy consumption through efficient speed control of motors. VFDs provide significant energy savings compared to traditionally used torque controlling motors. Additionally, stringent energy efficiency regulations in the region, such as Energy Independence and Security Act, have accelerated the VFD adoption. However, high initial costs of VFD installation compared to standard motors may hinder the market growth. Ongoing technological advancements in VFD components and control capabilities offer lucrative opportunities. Integration of advanced communication protocols is enabling connectivity of VFDs with smart devices and industrial IoT frameworks.
Key Features of the Study:
This report provides in-depth analysis of the North America variable frequency drive market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032, considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the North America variable frequency drive market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include ABB Ltd., Delta Electronics, Inc., Eaton Corporation, Fuji Electric Co., Ltd., General Electric Company, Hitachi, Ltd., Honeywell International Inc., Inovance Technology, NIDEC Corporation, Parker Hannifin Corporation, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, TMEIC Corporation, and Yaskawa Electric Corporation
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The North America variable frequency drive market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the North America variable frequency drive market
Detailed Segmentation-
- By Voltage
- Low Voltage (Less than 1 kV)
- Medium Voltage (1 kV to 6.6 kV)
- High Voltage (Above 6.6 kV)
- By Application
- Pumps
- Fans
- Compressors
- Conveyors
- Elevators
- HVAC
- Others (Cranes, Extruders, etc.)
- By End-use Industry
- Industrial
- Commercial
- Residential
- Infrastructure
- Oil & Gas
- Others (Mining, Food & Beverage, etc.)
- Key Players Insights
- ABB Ltd.
- Delta Electronics, Inc.
- Eaton Corporation
- Fuji Electric Co., Ltd.
- General Electric Company
- Hitachi, Ltd.
- Honeywell International Inc.
- Inovance Technology
- NIDEC Corporation
- Parker Hannifin Corporation
- Rockwell Automation, Inc.
- Schneider Electric SE
- Siemens AG
- TMEIC Corporation
- Yaskawa Electric Corporation
Table of Contents
1. RESEARCH OBJECTIVES AND ASSUMPTIONS
- Research Objectives
- Assumptions
- Abbreviations
2. MARKET PURVIEW
- Report Description
- Market Definition and Scope
- Executive Summary
- North America Variable Frequency Drive Market, By Voltage
- North America Variable Frequency Drive Market, By Application
- North America Variable Frequency Drive Market, By End-use Industry
3. MARKET DYNAMICS, REGULATIONS, AND TRENDS ANALYSIS
- Market Dynamics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
4. North America Variable Frequency Drive Market, By Voltage, 2025-2032, (US$ Mn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
- Low Voltage (Less than 1 kV)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- Medium Voltage (1 kV to 6.6 kV)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- High Voltage (Above 6.6 kV)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
5. North America Variable Frequency Drive Market, By Application , 2025-2032, (US$ Mn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
- Pumps
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- Fans
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- Compressors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- Conveyors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- Elevators
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- HVAC
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- Others (Cranes, Extruders, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
6. North America Variable Frequency Drive Market, By End-use Industry, 2025-2032, (US$ Mn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
- Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- Residential
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- Infrastructure
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- Oil & Gas
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
- Others (Mining, Food & Beverage, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
7. COMPETITIVE LANDSCAPE
- ABB Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Delta Electronics, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Eaton Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Fuji Electric Co., Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- General Electric Company
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Hitachi, Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Honeywell International Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Inovance Technology
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- NIDEC Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Parker Hannifin Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Rockwell Automation, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Schneider Electric SE
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Siemens AG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- TMEIC Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Yaskawa Electric Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
8. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
9. References and Research Methodology
- References
- Research Methodology
- About us
