Global Variable Frequency Drives (VFD) Market Is Expected to Reach $34.36 Billion by 2022; Finds New Report
Global Variable Frequency Drives (VFD) market is accounted for $18.12 billion in 2015 and is expected to reach $34.36 billion by 2022 growing at a CAGR of 9.5% during the forecast period. Increase in demand, price of the electricity, enlarging usage of variable frequency drives and following the best energy efficiency standards in manufacturing VFD are the major factors influencing the market growth. Whereas lack of investments on VFD is lagging back the market growth. As it has huge potential...
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