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Variable Frequency Drive Market Is Set to Garner Staggering Revenues By 2031

Variable Frequency Drive Market Is Set to Garner Staggering Revenues By 2031
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2030 Forecast For Global &Quot;Variable Frequency Drive (VFD) Market&Quot;: Survey On Upcoming Demand And Supply

2030 Forecast For Global &Quot;Variable Frequency Drive (VFD) Market&Quot;: Survey On Upcoming Demand And Supply
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Global Variable Frequency Drive Market (2020 to 2025) - Upgradation of Power Infrastructure Across the Globe Presents Opportunities

Share this article Share this article ResearchAndMarkets.com s offering. The global variable frequency drive market is projected to reach USD 24.3 billion by 2025 from an estimated USD 19.2 billion in 2020, at a CAGR of 4.8% during the forecast period. This growth can be attributed to factors such as growing regulations towards energy efficiency, upgradation & modernization of aging infrastructure for safe & secure electrical distribution systems, and increasing rate of industrialization and urbanization. However, stagnant growth of the oil & gas industry and decrease in the exploration & production activity is hindering the growth of the variable frequency drive market. The AC Drives segment, by type, is expected to be the largest market from 2020 to 2025

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Variable Frequency Drive (VFD) Sales Set to Grow Beyond 5% by 2031 as Automation Penetration Deepens: Future Market Insights Study

(1) DUBAI, UAE / ACCESSWIRE / January 20, 2021 / Global Variable Frequency Drive (VFD) volume sales surpassed 32 million units in 2020. The demand for VFD is still expected to augment due to improving reliability and performance. Moreover, VFD developments are inclining towards industry-specific solutions which are creating competition among leading companies. Leading research and consulting firm, Future Market Insights (FMI), in its latest study, finds that the market is set to grow at a value CAGR exceeding 5? through 2031. Worldwide Capital Infrastructure Projects to Influence Production Among Manufacturers Capital Infrastructure Projects are part and parcel of urbanization. These projects are set to contribute to economic growth in the long run. Therefore, emerging economies in Asia are seen as a lucrative market because of construction activities and automation industry productions surge vigorously.

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