Two recent market research reports show that the Variable Frequency Drive (VFD) market is set to grow over the next few years with Latin American showing the biggest increase in value. Asia (excluding Japan) remains the largest single geographic area with regards to overall value and volume of VFDs while Latin America is expected to see the largest growth of the 7 segmented areas.
The oil & gas segment remains the single largest one by value and volume. In terms of end use application, the pump market is the single largest segment.
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