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Asia-Pacific Variable Frequency Drive Market Size, Share & Trends Analysis Report by Product Type (AC Drives, DC Drives, Servo Drives), Power Range, Application (Pumps, Electric Fans, HVAC, Conveyers), End-use, Country, and Segment Forecasts, 2023-2030

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    Report

  • 99 Pages
  • December 2023
  • Region: Asia Pacific
  • Grand View Research
  • ID: 5921023
Description Jump to:
The Asia-Pacific variable frequency drive market size is expected to reach USD 14.12 billion by 2030 and registering a CAGR of 6.1% from 2023 to 2030, according to the study. Emerging economies in Asia-Pacific, such as China and India, are witnessing rapid industrialization. As the manufacturing sector in both these countries continues to expand rapidly, employing energy-efficient solutions is becoming paramount to meet sustainability goals and mitigate the environmental impact. For instance, while China is investing aggressively in developing its electricity infrastructure, it is also pursuing ambitious targets for reducing greenhouse gas emissions by increasing the share of renewable energy in the country's electricity mix. According to the International Energy Agency (IEA), China invested USD 384 billion in clean energy in 2020. This represented a 12.0% increase compared to the previous year and marked the highest investments in clean energy by any country for the year. These investments were utilized in developing renewable energy projects, transmission and distribution networks, and energy storage systems.

The development of the Indian manufacturing industry and the development of smart cities is a major factor driving the market growth. Similarly, the Smart Advanced Manufacturing Rapid Transformation Hub (SAMARTH) Udyog Bharat 4.0 program is also aimed at increasing the knowledge about Industry 4.0 among Indian manufacturers. At the same time, several government agencies are partnering with manufacturers of variable frequency drives and related solutions for implementing variable frequency drives across various industries and industry verticals with a particular focus on reducing energy consumption.

Governments across the Asia-Pacific region are implementing stringent energy efficiency regulations encouraging industries to adopt VFDs for motor control to reduce energy consumption. For instance, in India, Bureau of Energy Efficiency (BEE)promoted the use of VFDs in industries to comply with energy efficiency standards. Furthermore, the integration of renewable energy sources, such as solar and wind, in the Asia-Pacific region increases the need for VFDs to manage variable energy inputs and energy grid stability.

The highly dynamic and competitive vendor landscape of the Asia-Pacific variable frequency drive industry is prompting the market incumbents to reduce the prices of their products as a way of retaining consumers. However, the market incumbents are also putting a strong emphasis on developing new products with improved functionalities and compatibility with various electric drives. The growing number of advanced products being introduced in the market is expected to open promising opportunities for the growth of the market over the forecast period. For instance, in November 2022, ABB Ltd. introduced its new variable frequency speed drive specifically used by system integrators and OEMs. The product is compatible for all applications ranging up to 22 kilowatts. The device is said to offer application control and reliable machine operations.

Asia-Pacific Variable Frequency Drive Market Report Highlights

  • The AC drives segment is anticipated to register the highest growth over the forecast period. Increasing emphasis on energy efficiency and the implementation of stringent regulations promote the adoption of AC drives to optimize energy consumption
  • The micro (0-5kW) segment is expected to grow at the highest CAGR from 2023 to 2030. The demand for micropower variable frequency drives is attributed to compressors, electric fans, and kiln applications. Low-voltage frequency drives are widely used in end-use industries to power equipment, including conveyors, fans, centrifugal pumps, belts and conveyors, and pumps
  • The power generation segment is anticipated to register considerable growth over the forecast period. The growing focus on power generation through renewable forms of energy such as windmills, hydro-electric, geothermal, tidal, and solar demands an increase in variable frequency drive

Table of Contents

Chapter 1. Methodology and Scope
1.1. Methodology Segmentation & Scope
1.2. Information Procurement
1.2.1. Purchased database
1.2.2. Internal database
1.2.3. Secondary sources & third-party perspectives
1.2.4. Primary research
1.3. Information Analysis
1.3.1. Data analysis models
1.4. Market Formulation & Data Visualization
1.5. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Asia-Pacific Variable Frequency Drive Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint/Challenge Analysis
3.3.3. Market Opportunity Analysis
3.5. Business Environment Analysis Tools
3.5.1. Industry Analysis - Porter's Five Forces Analysis
3.5.2. PEST Analysis
Chapter 4. Asia-Pacific Variable Frequency Drive Market Product Type Outlook
4.1. Asia-Pacific Variable Frequency Drive Market Share by Product, 2022 & 2030 (USD Million)
4.2. AC Drives
4.2.1. Market estimates and forecasts, 2018-2030 (USD Million)
4.2.2. Market estimates and forecast by country, 2018-2030 (USD Million)
4.3. DC Drives
4.3.1. Market estimates and forecast, 2018-2030 (USD Million)
4.3.2. Market estimates and forecast by country, 2018-2030 (USD Million)
4.4. Servo Drives
4.4.1. Market estimates and forecast, 2018-2030 (USD Million)
4.4.2. Market estimates and forecast by country, 2018-2030 (USD Million)
Chapter 5. Asia-Pacific Variable Frequency Drive Market Power Range Outlook
5.1. Asia-Pacific Variable Frequency Drive Market Share by power range, 2022 & 2030 (USD Million)
5.2. Micro (0-5 kW)
5.2.1. Market estimates and forecasts, 2018-2030 (USD Million)
5.2.2. Market estimates and forecast by country, 2018-2030 (USD Million)
5.3. Low (6-40 kW)
5.3.1. Market estimates and forecast, 2018-2030 (USD Million)
5.3.2. Market estimates and forecast by country, 2018-2030 (USD Million)
5.4. Medium (41-200 kW)
5.4.1. Market estimates and forecast, 2018-2030 (USD Million)
5.4.2. Market estimates and forecast by country, 2018-2030 (USD Million)
5.5. High (>200 kW)
5.5.1. Market estimates and forecast, 2018-2030 (USD Million)
5.5.2. Market estimates and forecast by country, 2018-2030 (USD Million)
Chapter 6. Asia-Pacific Variable Frequency Drive Market Application Outlook
6.1. Asia-Pacific Variable Frequency Drive Market Share by Application, 2022 & 2030 (USD Million)
6.2. Pumps
6.2.1. Market estimates and forecasts, 2018-2030 (USD Million)
6.2.2. Market estimates and forecast by country, 2018-2030 (USD Million)
6.3. Electric Fans
6.3.1. Market estimates and forecast, 2018-2030 (USD Million)
6.3.2. Market estimates and forecast by country, 2018-2030 (USD Million)
6.4. Conveyors
6.4.1. Market estimates and forecast, 2018-2030 (USD Million)
6.4.2. Market estimates and forecast by country, 2018-2030 (USD Million)
6.5. HVAC
6.5.1. Market estimates and forecast, 2018-2030 (USD Million)
6.5.2. Market estimates and forecast by country, 2018-2030 (USD Million)
6.6. Extruders
6.6.1. Market estimates and forecast, 2018-2030 (USD Million)
6.6.2. Market estimates and forecast by country, 2018-2030 (USD Million)
6.7. Others
6.7.1. Market estimates and forecast, 2018-2030 (USD Million)
6.7.2. Market estimates and forecast by country, 2018-2030 (USD Million)
Chapter 7. Asia-Pacific Variable Frequency Drive Market End-use Outlook
7.1. Asia-Pacific Variable Frequency Drive Market Share by End-use, 2022 & 2030 (USD Million)
7.2. Oil & Gas
7.2.1. Market estimates and forecasts, 2018-2030 (USD Million)
7.2.2. Market estimates and forecast by country, 2018-2030 (USD Million)
7.3. Power Generation
7.3.1. Market estimates and forecast, 2018-2030 (USD Million)
7.3.2. Market estimates and forecast by country, 2018-2030 (USD Million)
7.4. Industrial
7.4.1. Market estimates and forecast, 2018-2030 (USD Million)
7.4.2. Market estimates and forecast by country, 2018-2030 (USD Million)
7.5. Infrastructure
7.5.1. Market Size Estimates and Forecasts, 2018-2030 (USD Million)
7.5.2. Market estimates and forecast by country, 2018-2030 (USD Million)
7.6. Automotive
7.6.1. Market estimates and forecast, 2018-2030 (USD Million)
7.6.2. Market estimates and forecast by country, 2018-2030 (USD Million)
7.7. Food & Beverages
7.7.1. Market estimates and forecast, 2018-2030 (USD Million)
7.7.2. Market estimates and forecast by country, 2018-2030 (USD Million)
7.8. Others
7.8.1. Market estimates and forecast, 2018-2030 (USD Million)
7.8.2. Market estimates and forecast by country, 2018-2030 (USD Million)
Chapter 8. Asia-Pacific Variable Frequency Drive Market: Country Outlook
8.1. Asia-Pacific Variable Frequency Drive Market Share by Country, 2022 & 2030 (USD Million)
8.2. China
8.2.1. Market estimates and forecast, 2018-2030 (USD Million)
8.2.2. Market estimates and forecast by product type, 2018-2030 (USD Million)
8.2.3. Market estimates and forecast by power range, 2018-2030 (USD Million)
8.2.4. Market estimates and forecast by application, 2018-2030 (USD Million)
8.2.5. Market estimates and forecast by end-use, 2018-2030 (USD Million)
8.3. India
8.3.1. Market estimates and forecast, 2018-2030 (USD Million)
8.3.2. Market estimates and forecast by product type, 2018-2030 (USD Million)
8.3.3. Market estimates and forecast by power range, 2018-2030 (USD Million)
8.3.4. Market estimates and forecast by application, 2018-2030 (USD Million)
8.3.5. Market estimates and forecast by end-use, 2018-2030 (USD Million)
8.4. Japan
8.4.1. Market estimates and forecast, 2018-2030 (USD Million)
8.4.2. Market estimates and forecast by product type, 2018-2030 (USD Million)
8.4.3. Market estimates and forecast by power range, 2018-2030 (USD Million)
8.4.4. Market estimates and forecast by application, 2018-2030 (USD Million)
8.4.5. Market estimates and forecast by end-use, 2018-2030 (USD Million)
8.5. South Korea
8.5.1. Market estimates and forecast, 2018-2030 (USD Million)
8.5.2. Market estimates and forecast by product type, 2018-2030 (USD Million)
8.5.3. Market estimates and forecast by power range, 2018-2030 (USD Million)
8.5.4. Market estimates and forecast by application, 2018-2030 (USD Million)
8.5.5. Market estimates and forecast by end-use, 2018-2030 (USD Million)
8.6. Australia
8.6.1. Market estimates and forecast, 2018-2030 (USD Million)
8.6.2. Market estimates and forecast by product type, 2018-2030 (USD Million)
8.6.3. Market estimates and forecast by power range, 2018-2030 (USD Million)
8.6.4. Market estimates and forecast by application, 2018-2030 (USD Million)
8.6.5. Market estimates and forecast by end-use, 2018-2030 (USD Million)
8.7. Singapore
8.7.1. Market estimates and forecast, 2018-2030 (USD Million)
8.7.2. Market estimates and forecast by product type, 2018-2030 (USD Million)
8.7.3. Market estimates and forecast by power range, 2018-2030 (USD Million)
8.7.4. Market estimates and forecast by application, 2018-2030 (USD Million)
8.7.5. Market estimates and forecast by end-use, 2018-2030 (USD Million)
8.8. Philippines
8.8.1. Market estimates and forecast, 2018-2030 (USD Million)
8.8.2. Market estimates and forecast by product type, 2018-2030 (USD Million)
8.8.3. Market estimates and forecast by power range, 2018-2030 (USD Million)
8.8.4. Market estimates and forecast by application, 2018-2030 (USD Million)
8.8.5. Market estimates and forecast by end-use, 2018-2030 (USD Million)
Chapter 9. Competitive Landscape
9.1. Company Categorization
9.2. Company Heat Map Analysis
9.3. Company Share Analysis, 2022
9.4. Strategy Mapping
9.5. Company Analysis
9.5.1. ABB
9.5.2. Danfoss A/S
9.5.3. Eaton Corporation
9.5.4. General Electric Company
9.5.5. Hitachi, Ltd.
9.5.6. Mitsubishi Electric Corporation
9.5.7. Rockwell Automation, Inc.
9.5.8. Schneider Electric
9.5.9. Toshiba Corporation
9.5.10. WEG S.A.
9.5.11. Yaskawa Electric Corporation
List of Tables
Table 1 Asia-Pacific variable frequency drive market, 2018-2030 (USD Million)
Table 2 Asia-Pacific variable frequency drive market, by country, 2018-2030 (USD Million)
Table 3 Asia-Pacific variable frequency drive market, by product type, 2018-2030 (USD Million)
Table 4 Asia-Pacific variable frequency drive market, by end-use, 2018-2030 (USD Million)
Table 5 AC Drives market, 2018-2030 (USD Million)
Table 6 AC Drives market, by country, 2018-2030 (USD Million)
Table 7 DC Drives market, 2018-2030 (USD Million)
Table 8 DC Drives market, by country, 2018-2030 (USD Million)
Table 9 Servo Drives market, 2018-2030 (USD Million)
Table 10 Servo Drives market, by country, 2018-2030 (USD Million)
Table 11 Micro (0-5 kW) market, 2018-2030 (USD Million)
Table 12 Micro (0-5 kW) market, by country, 2018-2030 (USD Million)
Table 13 Low (6-40 kW) market, 2018-2030 (USD Million)
Table 14 Low (6-40 kW) market, by country, 2018-2030 (USD Million)
Table 15 Medium (41-200 kW) market, 2018-2030 (USD Million)
Table 16 Medium (41-200 kW) market, by country, 2018-2030 (USD Million)
Table 17 Pumps market, 2018-2030 (USD Million)
Table 18 Pumps market, by country, 2018-2030 (USD Million)
Table 19 Electric Fans market, 2018-2030 (USD Million)
Table 20 Electric Fans market, by country, 2018-2030 (USD Million)
Table 21 Conveyors market, 2018-2030 (USD Million)
Table 22 Conveyors market, by country, 2018-2030 (USD Million)
Table 23 HVAC market, 2018-2030 (USD Million)
Table 24 HVAC market, by country, 2018-2030 (USD Million)
Table 25 Extruders market, 2018-2030 (USD Million)
Table 26 Extruders market, by country, 2018-2030 (USD Million)
Table 27 Others market, 2018-2030 (USD Million)
Table 28 Others market, by country, 2018-2030 (USD Million)
Table 29 Oil & Gas market, 2018-2030 (USD Million)
Table 30 Oil & Gas market, by country, 2018-2030 (USD Million)
Table 31 Power Generation market, 2018-2030 (USD Million)
Table 32 Power Generation market, by country, 2018-2030 (USD Million)
Table 33 Industrial market, 2018-2030 (USD Million)
Table 34 Industrial market, by country, 2018-2030 (USD Million)
Table 35 Infrastructure market, 2018-2030 (USD Million)
Table 36 Infrastructure market, by country, 2018-2030 (USD Million)
Table 37 Automotive market, 2018-2030 (USD Million)
Table 38 Automotive market, by country, 2018-2030 (USD Million)
Table 39 Food & Beverages market, 2018-2030 (USD Million)
Table 40 Food & Beverages market, by country, 2018-2030 (USD Million)
Table 41 Others market, 2018-2030 (USD Million)
Table 42 Others market, by country, 2018-2030 (USD Million)
Table 43 China variable frequency drive market, 2018-2030 (USD Million)
Table 44 China variable frequency drive market, by product type, 2018-2030 (USD Million)
Table 45 China variable frequency drive market, by power range, 2018-2030 (USD Million)
Table 46 China variable frequency drive market, by application, 2018-2030 (USD Million)
Table 47 China variable frequency drive market, by end-use, 2018-2030 (USD Million)
Table 48 India variable frequency drive market, 2018-2030 (USD Million)
Table 49 India variable frequency drive market, by product type, 2018-2030 (USD Million)
Table 50 India variable frequency drive market, by power range, 2018-2030 (USD Million)
Table 51 India variable frequency drive market, by application, 2018-2030 (USD Million)
Table 52 India variable frequency drive market, by end-use, 2018-2030 (USD Million)
Table 53 Japan variable frequency drive market, 2018-2030 (USD Million)
Table 54 Japan variable frequency drive market, by product type, 2018-2030 (USD Million)
Table 55 Japan variable frequency drive market, by power range, 2018-2030 (USD Million)
Table 56 Japan variable frequency drive market, by application, 2018-2030 (USD Million)
Table 57 Japan variable frequency drive market, by end-use, 2018-2030 (USD Million)
Table 58 South Korea variable frequency drive market, 2018-2030 (USD Million)
Table 59 South Korea variable frequency drive market, by product type, 2018-2030 (USD Million)
Table 60 South Korea variable frequency drive market, by power range, 2018-2030 (USD Million)
Table 61 South Korea variable frequency drive market, by application, 2018-2030 (USD Million)
Table 62 South Korea variable frequency drive market, by end-use, 2018-2030 (USD Million)
Table 63 Australia variable frequency drive market, 2018-2030 (USD Million)
Table 64 Australia variable frequency drive market, by product type, 2018-2030 (USD Million)
Table 65 Australia variable frequency drive market, by power range, 2018-2030 (USD Million)
Table 66 Australia variable frequency drive market, by application, 2018-2030 (USD Million)
Table 67 Australia variable frequency drive market, by end-use, 2018-2030 (USD Million)
Table 68 Singapore variable frequency drive market, 2018-2030 (USD Million)
Table 69 Singapore variable frequency drive market, by product type, 2018-2030 (USD Million)
Table 70 Singapore variable frequency drive market, by power range, 2018-2030 (USD Million)
Table 71 Singapore variable frequency drive market, by application, 2018-2030 (USD Million)
Table 72 Singapore variable frequency drive market, by end-use, 2018-2030 (USD Million)
Table 73 Philippines variable frequency drive market, 2018-2030 (USD Million)
Table 74 Philippines variable frequency drive market, by product type, 2018-2030 (USD Million)
Table 75 Philippines variable frequency drive market, by power range, 2018-2030 (USD Million)
Table 76 Philippines variable frequency drive market, by application, 2018-2030 (USD Million)
Table 77 Philippines variable frequency drive market, by end-use, 2018-2030 (USD Million)
List of Figures
Figure 1 Market Segmentation & Scope
Figure 2 Information Procurement
Figure 3 Primary Research Pattern
Figure 4 Primary Research Process
Figure 5 Market Formulation and Data Visualization
Figure 6 Industry Snapshot
Figure 7 Asia-Pacific Variable Frequency Drive Market Size and Growth Prospects, 2018-2030 (USD Million)
Figure 8 Asia-Pacific Variable Frequency Drive Market Value Chain Analysis
Figure 9 Asia-Pacific Variable Frequency Drive Market Penetration & Growth Prospect Mapping (Key Opportunity Prioritized)
Figure 10 Industry Analysis-Porter’s Five Forces
Figure 11 PEST Analysis
Figure 12 Asia-Pacific Variable Frequency Drive Market, by Product Type, Key Takeaways (USD Million)
Figure 13 Product Type Movement Analysis & Market Share, 2022 & 2030
Figure 14 Asia-Pacific Variable Frequency Drive Market, by Power Range, Key Takeaways (USD Million)
Figure 15 Power Range Movement Analysis & Market Share, 2022 & 2030
Figure 16 Asia-Pacific Variable Frequency Drive Market, by Application, Key Takeaways (USD Million)
Figure 17 Application Movement Analysis & Market Share, 2022 & 2030
Figure 18 Asia-Pacific Variable Frequency Drive Market, by End-use, Key Takeaways (USD Million)
Figure 19 End-use Movement Analysis & Market Share, 2022 & 2030
Figure 20 China Variable Frequency Drive Market Outlook and Market Share by Country, 2022 & 2030 (USD Million)
Figure 21 India Variable Frequency Drive Market Outlook and Market Share by Country, 2022 & 2030 (USD Million)
Figure 22 Japan Variable Frequency Drive Market Outlook and Market Share by Country, 2022 & 2030 (USD Million)
Figure 23 South Korea Variable Frequency Drive Market Outlook and Market Share by Country, 2022 & 2030 (USD Million)
Figure 24 Australia Variable Frequency Drive Market Outlook and Market Share by Country, 2022 & 2030 (USD Million)
Figure 25 Singapore Variable Frequency Drive Market Outlook and Market Share by Country, 2022 & 2030 (USD Million)
Figure 26 Philippines Variable Frequency Drive Market Outlook and Market Share by Country, 2022 & 2030 (USD Million)
Figure 27 Key Company Share Analysis, 2022

Companies Mentioned

  • ABB
  • Danfoss A/S
  • Eaton Corporation
  • General Electric Company
  • Hitachi, Ltd.
  • Mitsubishi Electric Corporation
  • Rockwell Automation, Inc.
  • Schneider Electric
  • Toshiba Corporation
  • WEG S.A.
  • Yaskawa Electric Corporation

Methodology

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Table Information

Report AttributeDetails
No. of Pages99
PublishedDecember 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 8.85 Billion
Forecasted Market Value ( USD ) by 2030 $ 14.12 Billion
Compound Annual Growth Rate6.1%
Regions CoveredAsia Pacific
No. of Companies Mentioned11

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About the Market

Variable Frequency Drives (VFDs) are an important component of industrial automation. They are used to control the speed of an electric motor by varying the frequency of the power supply. VFDs are used in a wide range of applications, from controlling the speed of pumps and fans to controlling the speed of conveyor belts and other machinery. VFDs are also used to reduce energy consumption and improve the efficiency of industrial processes. VFDs are typically used in combination with other automation components, such as sensors, controllers, and actuators, to create a complete automation system. This system can be used to automate a wide range of industrial processes, from controlling the speed of a conveyor belt to controlling the temperature of a furnace. The VFD market is highly competitive, with many companies offering a wide range of products. Some of the major players in the market include ABB, Siemens, Rockwell Automation, Schneider Electric, and Danfoss. Show Less Read more

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