Frequency converters are used in industries such as aerospace and defense and process industry. The global frequency converter market is driven by the growing demand for economical systems and frequency converters in developing countries the demand for economical devices across industries is expected to be driven by the need for better performance. Varying electrical standards of main electricity supply across geographies, international trading, and growing demand for energy-efficient frequency converters are the main driving factors of the market.
Frequency Converter Market is expected to grow over the CAGR of around 9% during the period 2017 to 2023
The key players of Frequency Converter Market are
- Piller Group GmbH (Germany),
- ABB Ltd (Switzerland),
- Power Systems & Controls Inc (USA),
- Danfoss (Denmark),
- Aplab Ltd. (India),
- General Electric Company (USA),
- Sinepower (Portugal),
- Siemens (Germany)
- Magnus Power Pvt. Ltd. (India).
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Market Research Analysis
The Static frequency converters market in developing economies of Asia-Pacific and the Middle East & Africa are expected to grow at higher pace. As these regions are spending more on development of infrastructure such as, manufacturing & production facilities, ports, airports, the electric equipment used in these industries need specific current frequency to run efficiently. Need for clean and efficient process is expected to drive the demand for frequency converters.
Currently, Europe dominates the global frequency market due to extensive investments from countries such as Germany, France and United Kingdom into the development of the aerospace & defense, manufacturing, energy infrastructures and marine/offshore. The second largest market is North America.
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Scope of the Report
This study provides an overview of the global frequency converter market, tracking two market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global frequency converter market by its type, end user and by regions.
By End User
- Oil & Gas
- Aerospace & Defense
- Power & Energy
- Process Industry
- North America
- Asia Pacific
- Rest of the World
Growing demand for frequency converter in developing countries and economical systems is driving the frequency converter market worldwide. Currently, the device is used in industries such as aerospace & defense and process industry. The demand for economical devices in industries to enhance performance is expected to create opportunities for the frequency converter market. Varying worldwide electrical standards of main electricity supply, international trading, and growing demand for energy-efficient frequency converters are the main driving factors of the market.
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