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Frequency Converter Market Growing Demand Estimate The Revenue Of Usd 23.2 Billion By 2020
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Global frequency converter is one of the high growth markets owing to distinct end-users across all verticals of the industry from developing economies, such as China, India, Brazil and South Africa. Static frequency converter, one of the types, is gaining market attraction due to increasing electricity prices all across the world as well as growing awareness on reduction of air and noise pollution, especially by aerospace & defense and marine/offshore end-users.
Frequency converter market includes major players such as ABB Ltd. (Switzerland), Danfoss A/S (Denmark), General Electric Company (U.S.), Siemens AG (Germany), Magnus Power (U.K.), Sinepower (Portugal), Aplab Ltd. (India), Power System & Control (Virginia), and Piller GmbH (Germany).
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Static frequency converters are expected to grow higher in developing economies from Asia-Pacific and the Middle East & Africa. Economies from these regions are spending more on modernization of infrastructure such as, manufacturing & production facilities, ports, airports, etc. The electric devices and equipment used at these industries need specific current frequency to run efficiently. Need for clean and efficient process is expected to drive the demand for frequency converters. Above mentioned drivers are expected to enhance the global frequency converter market to USD 23.2 billion by 2020, at a CAGR of 9.1% from 2015 to 2020. In 2014, the market size of global frequency converter was valued at USD 13.7 Billion.
The report caters to power utilities, energy infrastructure contractors and equipment providers, aircraft manufacturers, vessel/port owners, oil & gas producers, traction substation installers, electric locomotive manufacturers, power electronics manufacturers and providers, manufacturing sector, dealers, and suppliers, raw material providers, consulting companies in the energy and power sector, government and research organizations, venture capital firms, and investment banks.
Browse 74 tables and 42 figures spread through 223 Pages and in-depth TOC on "Frequency Converter Market - Global Forecast and Trends to 2020"
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Frequency Converter Market report has been segmented on the basis of type, end-user, and region as follows:
On the basis of Type: The report considers basic types of frequency converters, Static Frequency Converter, and Rotary Frequency Converter
On the basis of End-Users: Under this segmentation, the report considers various types of end users such as, Aerospace & Defense, Power & Energy, Process Industry, Traction, Oil & Gas, and Marine/Offshore
On the basis of Region: The regions analysed in the report include Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. Developing economies from the regions, Asia-Pacific and the Middle East & Africa offer lucrative market opportunities to frequency converter manufacturers.
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In 2014, in the global frequency converter market, Europe accounted for the largest share due to the massive investments from Germany and U.K. towards expansion of the aerospace & defense, manufacturing, marine/offshore, and energy infrastructures. North America was the second largest market in 2014, by value.
Frequency Converter market has been analyzed for different geographies including North and Latin Americas, Asia-Pacific, Europe, and the Middle East & Africa. The market size has been further analyzed in detail for key countries.
The report forecasts revenue of the global frequency converter market, which includes the key type of frequency converters with respect to main regions such as North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa. Frequency converter market is also analyzed on the basis of the end use industries which include aerospace & defense, process industry, power & energy, traction, oil & gas, and marine/offshore market.
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