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North America Variable Frequency Drive Market Growth Accelerated by Adoption across Various End-use Sectors

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Sneha
North America Variable Frequency Drive Market Growth Accelerated by Adoption across Various End-use Sectors

Variable frequency drives (VFDs) are devices used to control the speed and torque of AC electric motors. They help optimize the speeds of pumps, fans, and other equipment based on load requirements, resulting in enhanced energy savings. VFDs are used in various end-use sectors such as oil & gas, infrastructure, water and wastewater, and more. They offer advantages such as reduced energy consumption, lower maintenance costs, improved process control. The growing need for energy-efficient electric motors across industries is propelling the demand for VFDs in the region. The North America variable frequency drive market is estimated to be valued at US$ 6285.02 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends

Adoption across various industrial verticals: Growing adoption of VFDs across various end-use industrial verticals such as oil & gas, mining, chemical processing, water & wastewater, and others is one of the major trends witnessed in the North America variable frequency drive market. VFDs help reduce the overall operating costs and enhance process efficiency in these industries. The ability of VFDs to control motor speeds precisely as per application needs is augmenting their adoption. This wider usage is estimated to create opportunities for market growth over the forecast period.

Segment Analysis

The North America variable frequency drive market is dominated by the industrial segment which accounts for over 40% share of the market. Within the industrial segment, pumps, fans and compressors sub-segment holds the major share due to growing demand for HVAC and process cooling systems in the region.

Key Takeaways

The Global North America Variable Frequency Drive Market Demand is expected to witness high growth.

Regional analysis: The US accounts for over 80% share of the North America variable frequency drive market owing to presence of large manufacturing base and ongoing smart city projects. According to research, the US VFD market is projected to grow at 7% CAGR during 2023–2030 on back of increasing adoption of energy efficient VFDs across industries.

Key players operating in the North America variable frequency drive market are Randmark Dental Products, LLC., S4S (UK) Limited, DentCare Dental Lab Pvt.Ltd., Glidewell, Burbank Dental Lab, Brux Night Guard, CUSTMBITE, DDS Lab, Watersedge Dental Laboratory Inc., Orofacial Therapeutics, LP., PFL Healthcare Limited, Keystone Industries, Artistic Dental Laboratories, Inc., Iverson Dental Laboratories, National Dentex Labs (NDX), BonaDent Dental Laboratories, Procter & Gamble.

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