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Global HVAC Variable Frequency Drive Market: By Type: DC Drives, AC Drives, Servo Drive; By Power Range: Micro, Low, Medium, High; By Application: Residential, Commercial, Industrial; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global HVAC Variable Frequency Drive Market Outlook
The global HVAC variable frequency drive market attained a value of nearly USD 2.9 billion in 2021. The market is estimated to grow in the forecast period of 2023-2028 at a CAGR of 5.90% to reach about USD 4.1 billion by 2027.
The Asia Pacific to Account for a Significant Share in the Market for HVAC Variable Frequency Drive
The Asia Pacific region is anticipated to hold a substantial share in the HVAC variable frequency drive market on account of the rising focus on infrastructural development in countries like Japan, China, and Australia and the increasing Foreign Direct Investments (FDIs) in the industrial and manufacturing sectors. In addition, the growing urban population, rapid industrialisation in emerging economies, the increasing demand for energy efficiency in buildings, and surging construction activities are likely to fuel the market growth of HVAC variable frequency drive. Based on range, the medium range is expected to fuel the market growth of HVAC variable frequency drive on account of the increasing power requirements by several end-use industries.
Market Segmentation
A variable frequency drive (VFD) is a form of motor controller that drives an electric motor by varying frequency and voltage supplied to the electric motor. It is being utilised in the HVAC industry more frequently and in more applications. VFD can modulate the motor speed very smoothly within a broad range. The decreased motor speed delivers a significant reduction in motor power.
The market for HVAC variable frequency drive, by type, is divided into:
- DC Drives
- AC Drives
- Servo Drive
The market can be broadly categorised on the basis of power range segments into:
- Micro
- Low
- Medium
- High
By application, the market is segmented into:
- Residential
- Commercial
- Industrial
The EMR report looks into the regional markets of HVAC variable frequency drive like Latin America, North America, Europe, the Asia Pacific, and the Middle East and Africa.
Growth of AC Drives Bolstering the Market Growth of HVAC Variable Frequency Drive
Based on types, the AC drives segment is witnessing a significant growth in the HVAC variable frequency drive market on account of the increasing adoption of energy-saving techniques that offer enhanced investment return and efficiency while reducing strain on natural resources. AC drives facilitate efficient transmission of a large amount of energy over long distances, which is influencing the market for HVAC variable frequency drive positively. The increasing demand for AC drive in several industrial applications in the oil and gas, water and wastewater treatment, and metals and mining industries, among others, is also fuelling the market. The simple installation and minimal maintenance of AC drives are further surging interest in their utilisation, which is driving the market growth of HVAC variable frequency drive.
Key Players in the Global Market for HVAC Variable Frequency Drive
The report presents a detailed analysis of the following key players in the global HVAC variable frequency drive market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- ABB Ltd.
- Siemens AG
- Rockwell Automation, Inc.
- Mitsubishi Electric Corporation
- Yaskawa America Inc. – Drives and Motion Division
- Others
The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Power Range |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Application
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global HVAC Variable Frequency Drive Market Analysis
8.1 Key Industry Highlights
8.2 Global HVAC Variable Frequency Drive Historical Market (2018-2022)
8.3 Global HVAC Variable Frequency Drive Market Forecast (2023-2028)
8.4 Global HVAC Variable Frequency Drive Market by Type
8.4.1 DC Drives
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 AC Drives
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Servo Drive
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global HVAC Variable Frequency Drive Market by Power Range
8.5.1 Micro
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Low
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Medium
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 High
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.6 Global HVAC Variable Frequency Drive Market by Application
8.6.1 Residential
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Commercial
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Industrial
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.7 Global HVAC Variable Frequency Drive Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America HVAC Variable Frequency Drive Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe HVAC Variable Frequency Drive Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific HVAC Variable Frequency Drive Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America HVAC Variable Frequency Drive Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa HVAC Variable Frequency Drive Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 ABB Ltd.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Siemens AG
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Rockwell Automation, Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Mitsubishi Electric Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Yaskawa America Inc. – Drives and Motion Division
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global HVAC Variable Frequency Drive Market: Key Industry Highlights, 2018 and 2028
2. Global HVAC Variable Frequency Drive Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global HVAC Variable Frequency Drive Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global HVAC Variable Frequency Drive Historical Market: Breakup by Power Range (USD Million), 2018-2022
5. Global HVAC Variable Frequency Drive Market Forecast: Breakup by Power Range (USD Million), 2023-2028
6. Global HVAC Variable Frequency Drive Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global HVAC Variable Frequency Drive Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global HVAC Variable Frequency Drive Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global HVAC Variable Frequency Drive Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America HVAC Variable Frequency Drive Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America HVAC Variable Frequency Drive Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe HVAC Variable Frequency Drive Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe HVAC Variable Frequency Drive Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific HVAC Variable Frequency Drive Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific HVAC Variable Frequency Drive Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America HVAC Variable Frequency Drive Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America HVAC Variable Frequency Drive Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa HVAC Variable Frequency Drive Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa HVAC Variable Frequency Drive Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global HVAC Variable Frequency Drive Market Structure
Key Questions Answered in the Report
In 2021, the global HVAC variable frequency drive market attained a value of nearly USD 2.9 billion.
The market is assessed to grow at a CAGR of 5.90% between 2023 and 2028.
The market is estimated to witness healthy growth in the forecast period of 2023-2028 to reach almost USD 4.1 billion by 2027.
The major market drivers of HVAC variable frequency drive are the surging demand for AC drives, increasing demand for energy-efficient systems, and the growing demand for HVAC variable frequency drive in the construction industry.
The key market trends include the growing adoption of HVAC variable frequency drive in various industries, technological advancements, and the growing infrastructure development.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various types of HVAC variable frequency drive in the market are DC drives, AC drives, and servo drive.
The different power ranges of HVAC variable frequency drive include micro, low, medium, and high.
The major applications of HVAC variable frequency drive include industrial, commercial, and residential.
The major players in the market are ABB Ltd., Siemens AG, Rockwell Automation, Inc., Mitsubishi Electric Corporation, and Yaskawa America Inc. –Drives and Motion Division, among others.
Analyst Review
The global HVAC variable frequency drive market attained a value of nearly USD 2.9 billion in 2021, driven by the growing demand for HVAC variable frequency drive in the construction industry. Aided by the growing demand for HVAC solutions in commercial as well as residential sectors and increasing population, the market is expected to witness further growth in the forecast period of 2023-2028, growing at a CAGR of 5.90%. The market is estimated to reach about USD 4.1 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. The market for HVAC variable frequency drive, by type, is divided into DC drives AC drives, and servo drive. Based on power range, the market is segmented into micro, low, medium, and high. On the basis of application, the market is classified into industrial, commercial, and residential. The major regional markets for HVAC variable frequency drive are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include ABB Ltd., Siemens AG, Rockwell Automation, Inc., Mitsubishi Electric Corporation, and Yaskawa America Inc. –Drives and Motion Division, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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