North America Variable Frequency Drive Market Is Estimated To Witness High Growth Owing To Increasing Demand for Energy Efficiency
North America Variable Frequency Drive Market The North America Variable Frequency Drive market is estimated to be valued at US$ 5,636.1 million in 2021 and is expected to exhibit a CAGR of 5.6% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights. Market Overview: Variable Frequency Drives Ds) are electronic devices used to control the speed and torque of alternating current (Ainduction motors. They are widely used in industries such as manufacturing, oil & gas, and water & wastewater treatment, among others. VFDs offer several advantages, including energy efficiency, improved motor control, and reduced wear and tear on motor-driven equipment. The increasing focus on energy efficiency and the need for precise motor control are driving the demand for VFDs in the North American market. Market Key Trends: One key trend in the North America VFD market is the increasing adoption of VFDs in HVAC systems in residential and c