The global variable frequency drive (VFD) market is projected to exceed USD 36,072.17 million in 2024 and is estimated to reach USD 62,203.02 million by 2034, growing at a compound annual growth rate (CAGR) of 5.60% from 2024 to 2034. VFDs are increasingly vital to the development of smart grid initiatives, playing a crucial role in stabilizing power distribution networks and optimizing energy …
Tag Archives: Variable Frequency Drive Market
Variable Frequency Drive Market Expected to Reach USD 62.2 Billion by 2034, with a CAGR of 5.60% | FMI Reports
Variable Frequency Drive Market The variable frequency drive (VFD) market is expected to surpass USD 36,072.17 million in 2024 and is projected to reach USD 62,203.02 million by 2034, with a compound annual growth rate (CAGR) of 5.60% from 2024 to 2034. VFDs are becoming increasingly essential in the advancement of smart grid initiatives, where …
Variable Frequency Drive Market Forecasted to Reach USD 62,203.02 Million by 2034, Driven by a 5.60% CAGR | FMI Reports
The variable frequency drive (VFD) market is projected to surpass USD 36,072.17 million in 2024, reaching an estimated valuation of USD 62,203.02 million by 2034. This market is expected to grow at a compound annual growth rate (CAGR) of 5.60% from 2024 to 2034. VFDs are becoming integral to the evolution of smart grid initiatives, significantly …