Global HVAC Variable Frequency Drive Market Size and Share - Outlook Report, Forecast Trends and Growth Analysis (2024-2032)

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Key Trends in the Market

A variable frequency drive (VFD) is a motor controller device that is used to control the speed of the motor by differing the voltage and frequency of the power supply. When this device is used to increase and decrease rotations per minute of alternating current motor for HVAC applications, it is known as a HVAC variable frequency drive. These VFDs have various applications in the HVAC industry, including pumps, pump motors, fans, and compressors, among others. HVAC variable frequency drives have developed significantly and can be installed in nearly any HVAC application in institutional and commercial buildings.

• Awareness about the adoption of energy saving techniques reducing strain on natural resources and enhancing efficiency is helping the HVAC variable frequency drive market grow globally. The energy-saving characteristic has led to the rising adoption of variable frequency drive in the HVAC market.

• AC drive is observing a high demand from several industries due to the ability to facilitate efficient transmission of huge amount of energy over long distances, which is supporting the overall HVAC variable frequency drive market. It finds it application in oil and gas industries, metal and mining industries, and water and wastewater treatment industries.

• Improved standards of living have increased the demand for temperature controlled homes with better indoor air quality. Demand for the HVAC variable frequency drive systems is increasing rapidly from consumers so that air quality and temperature inside homes can be maintained, particularly in cooler and warmer climates.

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HVAC Variable Frequency Drive Market Analysis

Based on type, the market is segmented into DC drives, AC drives, and servo drive. On the basis of power range, the market is divided into micro, low, medium, and high. By application, the market is categorised into residential, commercial, and industrial. Based on region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global HVAC variable frequency drive market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• ABB Ltd.

• Siemens AG

• Rockwell Automation, Inc.

• Mitsubishi Electric Corporation

• Yaskawa America Inc.-Drives and Motion Division

• Others

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Market Share by Power Range

Medium power range segment is anticipated to have a large share in the HVAC variable frequency drive market in the forecast period due to rising requirement from various end-use industries. HVAC variable frequency drives in medium power range help in the smooth working of fans, compressors, and pumps that constantly need variable speed motor control. They are designed in a way such that they can maximize energy efficiency by enabling variable speed control and soft-starting in both heavy duty applications and normal duty applications. Low power range drive is also expected witness growth in the forecast period owing to its wide use in various industrial automation applications.

Market Share by Region

Asia Pacific is expected to account for a sizable share in the HVAC variable frequency drive market owing to the growing foreign direct investments in the manufacturing and industrial sectors. The tropical climate in the region is surging the need for temperature control indoors, increasing the demand for HVAC variable frequency drives. Countries like China, India, and Japan are contributing to the growth of the market in the Asia Pacific region by focussing on the infrastructural development in their countries. Increasing construction activities due to rising urban population and rapid industrialisation in developing economies, and heightening demand for energy efficiency in the Asia Pacific are helping in the growth of the overall HVAC variable frequency drive market.

Competitive Landscape

ABB Ltd. founded in 1988 has its headquarters in Zürich, Switzerland. It is a multinational automation company that provides solutions in robotics, digital services, and machine automation to several industries. ABB facilitates increased industrial productivity, harnessed power reliability, and enhanced energy efficiency, with an aim to provide a more resource efficient and sustainable future.

Siemens AG is an automation company which was established in 1847 and is based out of Munich, Germany. It serves various end users including industry, transport, healthcare, and infrastructure, among others. The company aims at building intelligent infrastructure for energy systems and buildings, creating smart mobility solutions for road as well as rail transport, and automating and digitalising in the manufacturing and process industries.

Rockwell Automation Inc. was founded in 1903 and has its headquarter located in Wisconsin in the United States. It is an industrial automation company that provides integrated control and information solutions to its customers. The company focuses on helping their customers from all across the globe to become more productive and the world become more sustainable.

Other market players include Mitsubishi Electric Corporation, and Yaskawa America Inc.-Drives and Motion Division.

Key Highlights of the Report