Global Frequency Converter Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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Global Frequency Converter Market: Overview
“The global Frequency Converter market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
A frequency converter, also known as a frequency changer, is an electronic device that alternates the frequency of current from a certain frequency to another frequency. The frequency converter is categorized into two types namely rotary frequency converter and solid-state frequency converter.
Global Frequency Converter Market: Dynamics
Increasing demand for frequency converters in defense, aviation, industrial automation, and the oil & gas sector is a major factor driving the growth of the global frequency converter market.
In addition, the upgradation of infrastructure in the industrial sector is another factor supporting the growth of the global market. Furthermore, the growing use of frequency converters in power generation plants is a factor expected to support the growth of the global frequency converter market.
However, different electricity standards in various countries are a factor that may hamper the growth of the global frequency converter market. Nevertheless, increasing demand for electrical equipment can create high revenue opportunities for prominent players in the target market.
Global Frequency Converter Market: Segment Analysis
Among the type segments, the static segment is expected to account for a major share in terms of revenue in the global market. The static frequency converter is a type of device that according to the input set point, alters the frequency of an input signal.
It has a low installation cost as it does not require heavy machinery. Compared to other mechanical coverts it offers low noise and also occupies less space. These are factors supporting the growth of this segment in the target market. In addition, increasing demand for a static frequency converters, owing to rising awareness regarding noise pollution is another factor supporting the growth of this segment.
Among the end-user segments, the aerospace & defense segment is expected to register lucrative growth in terms of revenue over the forecast period. In the case of aircraft maintenance, frequency converters are used for reducing its dependency on auxiliary power units, as frequency converters help to supply the required power to the aircraft is a factor anticipated to fuel the growth of the aerospace & defense segment in the near future.
Global Frequency Converter Market: Regional Analysis
Currently, the market in Europe dominates the global market in terms of revenue and is expected to maintain its position over the forecast period. High investment in the expansion of aviation, energy, and marine infrastructure in countries such as the UK and Germany is a key factor driving the growth of the target market in this region.
In addition, the presence of prominent players in this region is another factor expected to support the growth of the frequency converter market in the near future. Market in North America accounts for the second-highest share in terms of revenue in the near future.
Market in the Asia Pacific is anticipated to register lucrative growth in terms of revenue in the near future, followed by Latin America and Middle East & Africa. Increasing demand for a frequency converters, owing to the growing industrial sector is a key factor fueling the growth of the target market in the Asia Pacific.
Global Frequency Converter Market Segmentation:
Segmentation by type:
Segmentation by end-user:
- Oil & Gas
- Process Industry
- Aerospace & Defense
- Power & Energy
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Siemens AG
- General Electric Company
- ABB Ltd
- APLAB Ltd.
- MAGNUS POWER Pvt Ltd
- Danfoss A/S
- NR Electric Co., Ltd.
- Georator Corporation
- Piller Group GmbH
- KGS Electronics Inc.
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