As cited by the research report titled ‘Global Variable Frequency Drive Market Size By Power Range (Micro, Low, Medium, High), By Drive (AC, DC, Servo), By Voltage (Low, Medium), By Technology (Standard, Regenerative), By Application (Pump, Centrifuges, Conveyor, Evaporators, Mixers, Grinders, Cutters, Fans, Others), By End-Use (Oil & Gas, Power Generation, Food Processing, Automotive, Mining & Metals, Pulp & Paper, Others), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with MarketStudyReport, global variable frequency drive market is projected to expand significantly over 2020-2026.
 

Large scale usage of these products across various end-use industries is a major factor driving global variable frequency drive market growth.
 

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For the record, a variable frequency drive is a motor controller that runs an electric motor through varying the frequency and voltage supplied to it. A typical variable frequency drive system usually consists of an AC motor, a controller, and operator interface. 
 

Variable frequency drive is also called as microdrive, adjustable frequency drive, inverter, AC drive, and variable speed drive. It offers various benefits as well as provides the considerable energy saving capabilities for different applications.
 

Based on power range, the low power segment is expected to grow lucratively by 2026 due to rising electricity cost and shifting focus toward energy saving. Meanwhile, medium power range segment is likely to witness significant growth due to its ability to provide quick returns on investment and boosting user’s profitability by enhancing the process.
 

Speaking of application ambit, the evaporators segment is estimated to witness lucrative growth over the estimated timeline owing to ongoing modifications in applicable codes and standards that have made use of VFDs essential across HVAC applications.
 

Moving on to end use range, the mining & metals segment is projected to record substantial growth over the study period on account of increasing investments in R&D activities and technological advancements.
 

Considering the regional frame of reference, the Middle East & Africa variable frequency drive market is poised to garner significant returns over the assessment period owing to increasing product demand due to recovering electric grid infrastructure.
 

Meanwhile, Latin America market is estimated to showcase lucrative growth trends throughout the projected timeline on account of growing energy demand along with large-scale urbanization leading to integration of a sustainable transmission infrastructure.
 

Prominent players influencing the variable frequency drive industry dynamics are Hitachi Ltd., Danfoss, Hiconics Eco-energy Technology Co. Ltd., Yaskawa Electric Corporation, WEG Electric Corp., Rockwell Automation Inc., Fuji Electric Co. Ltd., Eaton Corporation PLC, Mitsubishi Electric Corporation, CG Power and Industrial Solutions Limited, Schneider Electric SE, Siemens AG, Emerson Electric Co., ABB Limited, Honeywell International Inc., and Johnson Controls International plc.