Motor accounts for about 70% of industrial power consumption. Speed control through VSD will produce a certain energy-saving effect, and through frequency adjustment, equipment does not need to be started and stopped frequently, which can increase the service life of equipment, so the demand for frequency converters has increased. In recent years, following energy efficiency regulations and net-zero carbon emission issues, the global industry has accelerated investment in energy efficiency. The industry's awareness of the high-efficiency operation of motor systems including motors, inverters, and drive equipment has increased year by year, which has accelerated the growth of the high-efficiency equipment market. The global VSD market is expected to reach US$26.9 billion in 2026. This article will discuss the current situation of the VSD market, market drivers and restraints, and the dynamics of major manufacturers, so as to understand the global market and industry trends.