May 18, 2024
North America Variable Frequency Drive Market

North America Variable Frequency Drive Market is expected to be Flourished by Increasing Demand for Energy-Efficient Equipment

The variable frequency drive (VFD) is an electronic controller that adjusts the speed of an electric motor by fluctuating the frequency and voltage supplied to it. VFDs are commonly used with HVAC systems, industrial fans, pumps, and conveyors where mechanical power transmission depends on synchronization with the power line frequency or where fluid flow must be varied. By controlling motor speed, VFDs help reduce energy consumption, costs, and provide smoother machinery operation. They improve operating control and increase motor service life. VFDs optimize performance and save energy by allowing the motor to respond swiftly and precisely according to mechanical load requirements.

The global North America variable frequency drive market is estimated to be valued at US$ 7240.35 Mn in 2024 and is expected to exhibit a CAGR of 6.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Increasing Demand for Energy-Efficient Equipment: With rising energy costs and focus on sustainability, industrial facilities and commercial buildings are increasingly adopting VFDs to reduce energy consumption. By varying motor speed as needed rather than operating motors at constant full speed, VFDs can lower energy use substantially. This offers significant cost savings potential and makes operations more energy efficient. For example, using VFDs on HVAC systems enables more tailored temperature control and optimized fan/pump speeds based on real-time load conditions.

Growth of End-Use Industries: The North America variable frequency drive market is driven by growing demand from key end-use industries like food & beverage, mining & metal, oil & gas, pulp & paper, and water & wastewater treatment. These industries extensively rely on electric motors and machinery for numerous production and operational processes. With industrial activity increasing in the region, demand for automation equipment including VFDs is also rising to boost productivity and efficiency.

Segment Analysis

The North America variable frequency drive market is segmented into power rating, voltage, application, and end use. The low voltage segment dominates the market and accounted for over 60% market share in 2024 owing to increasing demand from HVAC, pumping and other applications that require low power ratings. Within low voltage, 0-20 kW power rated drives captured major market share as they are used extensively across fans, pumps, conveyors and smaller HVAC equipment.

PEST Analysis

Political: Stringent energy efficiency standards enforced by EPA and DOE promoted adoption of VFDs. Recent infrastructure bills will further drive demand.

Economic: Strong industrial and construction activity supported regional GDP growth. Cost savings from VFD use boosted returns on investment.

Social: Rising environmental awareness increased preference for energy efficient technology. Population growth increased demand for water, infrastructure and commercial buildings.

Technological: Advancements in power electronics, control systems and connectivity enabled development of smart, digital VFD solutions. Internet of Things integration enhanced performance monitoring and diagnostics.

Key Takeaways

The Global North America Variable Frequency Drive Market Growth is estimated to be valued at US$ 7240.35 Mn in 2024 and is expected to exhibit a CAGR of 6.6% over the forecast period 2024 to 2031.

Regional analysis: The US dominates the North America market accounting for over 80% share due to large manufacturing and construction bases. Growing infrastructure investments under national plans will further accelerate VFD adoption across various applications in the region.

Key players: 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.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it