What is the Asia Pacific variable frequency drive market growth?

The Asia Pacific variable frequency drive market is expected to grow at a compound annual growth rate of 6.1% from 2023 to 2030 to reach USD 14.12 million by 2030.

Which segment accounted for the largest Asia Pacific variable frequency drive market share?

The AC drives segment accounted for the largest share of over 65% in 2022. The segment growth is ascribed to widespread deployment of AC drive in almost all forms of industries.

Who are the key players in Asia Pacific variable frequency drive market?

Some key players operating in the Asia Pacific variable frequency drive market include ABB Ltd., Danfoss A/S, Eaton Corporation, General Electric Company, Hitachi, Ltd., Mitsubishi Electric Corporation, Rockwell Automation, Inc., Schneider Electric, Toshiba Corporation, WEG S.A., and Yaskawa Electric Corporation

What are the factors driving the Asia Pacific variable frequency drive market?

In emerging economies, rapid industrialization and the continued expansion of the manufacturing and industrial infrastructure are expected to drive the adoption of variable frequency drives. For instance, the incumbents of the power generation industry have been widely using variable frequency drives to ensure the smooth starting of huge motors and facilitate constant speed adjustment as needed.