The global variable frequency drive market is expected to grow at a compound annual growth rate of 4.65% over the forecast period to reach a market size of US$24.410 billion in 2026 from US$17.758 billion in 2019. The variable-frequency drive market is one of the significant business sectors that work as an interconnection for different business sectors, that is, switchgear market, electric engine market, substation hardware market, control board market, power quality gear market.