The Ultimate AC Drives Market Report: Everything You Need to Know

The  AC Drives Market  is projected to reach USD 22.03 billion by 2030, growing at a CAGR of 5.0% from 2025 to 2030. Market growth is driven by rapid industrialization worldwide, which increases demand for variable frequency drives (VFDs) that enhance the efficiency and control of electric AC motors, offering precise management of torque and speed.

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Key players in the VFD market include ABB Ltd., Hitachi, Mitsubishi Electric, Siemens, Danfoss, Omron, Parker Hannifin, Rockwell Automation, Yaskawa Electric, and Johnson Controls. These companies focus on strategies such as product launches and technological innovations to maintain their competitive positions across various regions.

For instance, in February 2024, ABB introduced the ACH180, a compact next-generation drive for HVACR systems designed to optimize energy efficiency and reduce emissions. Parker Hannifin launched the AC15 and AC20 VFD series in August 2023 for mid-range industrial applications like fan, pump, and conveyor control. Additionally, in June 2023, Omron released the M1 Integrated Global AC Drives Solution, offering seamless system integration, flexible motor control, and support for multiple communication protocols to meet rising demands for high-performance VFD solutions.