Global Variable Frequency Drive (VFD) Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Variable Frequency Drive (VFD) market size was valued at US$ 19200 million in 2024 and is forecast to a readjusted size of USD 22870 million by 2031 with a CAGR of 2.5% during review period.

Variable frequency Drive (VFD) is an electric power control device which controls AC motor by changing the working power frequency of the motor by using frequency conversion technology and microelectronic technology. The frequency converter is mainly composed of rectifier (AC to DC), filter, inverter (DC to AC), brake unit, drive unit, detection unit, micro-processing unit, etc.

The Variable Frequency Drive (VFD) market is an essential segment within the broader industrial automation and electrical equipment industry. VFDs are used to control the speed, torque, and operation of electric motors by adjusting the frequency and voltage supplied to the motor. They are widely used across various industries, such as manufacturing, oil and gas, power generation, water treatment, HVAC (Heating, Ventilation, and Air Conditioning), and others. The increasing integration of IoT and smart sensors with VFDs is allowing real-time monitoring, predictive maintenance, and remote control. This trend is boosting the VFD market by providing improved system optimization and reducing downtime. Advances in semiconductor technology, such as IGBT (Insulated Gate Bipolar Transistor), are leading to more compact, efficient, and reliable VFDs. This has contributed to the expansion of VFD applications in smaller and medium-sized industries. With the rise of Industry 4.0 and smart factories, VFDs are becoming crucial in enabling connected systems and intelligent motor control within these advanced setups. The upfront investment for VFDs can be high, particularly for medium and high-voltage drives. However, the long-term savings from reduced energy consumption and maintenance can offset this initial cost. Proper installation and maintenance require specialized technical knowledge, which could limit VFD adoption in smaller or less technically advanced industries. The global VFD market is expected to continue growing, driven by the increasing demand for energy-efficient solutions, automation, and advancements in digital technologies. The trend toward green energy solutions and sustainability will likely further boost the adoption of VFDs, particularly in renewable energy systems like wind and solar power, which require effective motor control for optimal performance. In conclusion, the Variable Frequency Drive market is poised for growth, driven by technological advancements, energy-saving initiatives, and the expanding scope of industrial automation. As industries continue to evolve toward more energy-efficient and smart operations, VFDs will play a pivotal role in shaping the future of industrial motor control.

This report is a detailed and comprehensive analysis for global Variable Frequency Drive (VFD) market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global Variable Frequency Drive (VFD) market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031

Global Variable Frequency Drive (VFD) market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031

Global Variable Frequency Drive (VFD) market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031

Global Variable Frequency Drive (VFD) market shares of main players, shipments in revenue ($ Million), sales quantity (K Units), and ASP (US$/Unit), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Variable Frequency Drive (VFD)

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Variable Frequency Drive (VFD) market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include ABB, Siemens, Rockwell Automation, Yaskawa Electric, Danfoss, Inovance Technology, Schneider Electric, Fuji Electric, Delta Electronics, TMEIC, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Variable Frequency Drive (VFD) market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
Low Voltage Inverter
Middle Voltage Inverter
High Voltage Inverter

Market segment by Application
Power
Mining
Metallurgical Industry
Oil & Gas and Chemicals
Construction
Municipal
Building
Other

Major players covered
ABB
Siemens
Rockwell Automation
Yaskawa Electric
Danfoss
Inovance Technology
Schneider Electric
Fuji Electric
Delta Electronics
TMEIC
TECO
GE Power Conversion
INVT
Wolong Holding
Hitachi
Hiconics
Xinfengguang
VEICHI
Nidec
Nancal Technology
Slanvert
Cumark

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Variable Frequency Drive (VFD) product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Variable Frequency Drive (VFD), with price, sales quantity, revenue, and global market share of Variable Frequency Drive (VFD) from 2020 to 2025.

Chapter 3, the Variable Frequency Drive (VFD) competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Variable Frequency Drive (VFD) breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Variable Frequency Drive (VFD) market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Variable Frequency Drive (VFD).

Chapter 14 and 15, to describe Variable Frequency Drive (VFD) sales channel, distributors, customers, research findings and conclusion.