Global Variable Frequency Drive (VFD) Market Growth 2025-2031

The global Variable Frequency Drive (VFD) market size is predicted to grow from US$ 18710 million in 2025 to US$ 21940 million in 2031; it is expected to grow at a CAGR of 2.7% from 2025 to 2031.

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.

LP Information, Inc. (LPI) ' newest research report, the “Variable Frequency Drive (VFD) Industry Forecast” looks at past sales and reviews total world Variable Frequency Drive (VFD) sales in 2024, providing a comprehensive analysis by region and market sector of projected Variable Frequency Drive (VFD) sales for 2025 through 2031. With Variable Frequency Drive (VFD) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Variable Frequency Drive (VFD) industry.

This Insight Report provides a comprehensive analysis of the global Variable Frequency Drive (VFD) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Variable Frequency Drive (VFD) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Variable Frequency Drive (VFD) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Variable Frequency Drive (VFD) and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Variable Frequency Drive (VFD).

This report presents a comprehensive overview, market shares, and growth opportunities of Variable Frequency Drive (VFD) market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Low Voltage Inverter
Middle Voltage Inverter
High Voltage Inverter

Segmentation by Application:
Power
Mining
Metallurgical Industry
Oil & Gas and Chemicals
Construction
Municipal
Building
Other

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
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

Key Questions Addressed in this Report

What is the 10-year outlook for the global Variable Frequency Drive (VFD) market?

What factors are driving Variable Frequency Drive (VFD) market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Variable Frequency Drive (VFD) market opportunities vary by end market size?

How does Variable Frequency Drive (VFD) break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.