According to Cognitive Market Research, the global HVAC VFD driver market size is USD 2758.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.10% from 2024 to 2031.
North America held the major market of more than 40% of the global revenue with a market size of USD 1103.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 827.46 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 634.39 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
Latin America's market has more than 5% of the global revenue, with a market size of USD 137.91 million in 2024, and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 55.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.
AC drive held the highest HVAC VFD driver market revenue share in 2024.
