The Increasing Demand For Energy-Efficient Products To Fuel The Growth Of North America Variable Frequency Drive Market
The global North America Variable Frequency Drive Market is estimated to be valued at US$ 6285.02 Million in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: A variable frequency drive or VFD is an adjustable speed device used in AC induction motor drives systems for speed control and torque adjustments. VFDs are essential for energy savings and improving process control in various industrial applications such as pumps, fans, compressors and conveyors. Market key trends: One of the major market trends is the increasing demand for energy-efficient products in the industrial sector. VFDs help improve system efficiency by allowing motors to run at optimal speeds according to load requirements. This leads to significant energy savings of around 50% compared to constant speed motor drives. VFDs minimize process fluctuations and allow smooth torque control for impr...