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Latest Trends And Insights Of Frequency Converter Market Set A New Picture In Industry
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Frequency converters are useful in distinctive industrial applications, to match the frequency of power supply with the frequency of any electrical equipment connected. Demand to run the electric machinery and equipment effectively and cost efficiently across diverse sectors is the primary reason behind a rise in the usage of frequency converters. Since more than a decade, frequency converters are being used in industries such as aerospace & defense, process industry, power & energy, oil & gas, marine/offshore, and traction among others. These are basically used to convert the input supply frequency from one level to the desired frequency, as per the requirement and the specification of the equipment or machinery.
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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Growth of frequency converter market is contributed by demand from developing economies need for efficient process systems. A major portion of the demand for frequency converters comes from aerospace & defence, traction, and process industry end-users in Europe, North America, and Asia-Pacific regions. Increasing demand across diverse sectors for process and equipment efficiency for enhanced output create the need for frequency converters.
Table of Contents
- Research Methodology
- Executive Summary
- Premium Insights
- Market Overview
- Market Segmentation
- Competitive Landscape
- Company Profiles
- List of Tables
- List of Figures
Increasing requirements of frequency converter in oil & gas, power & energy, marine/offshore, and research & testing activities among others, is giving more scope for contracts of end-users with the manufacturers. The figure below shows the global frequency converter market share by region in 2014.
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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Frequency converter is used in varied end-use industries depending on the frequency requirement of the equipment connected to the converter. The end-users of frequency converters, considered for study include aerospace & defense, power & energy, oil & gas, traction, process industry, marine/offshore, research & testing laboratories, and grid interconnections among others. Differences in electrical standards of mains electricity supply worldwide, international trading, and an increase in the demand for energy-efficient frequency converters are driving the market. The global frequency converter market is projected to reach USD 23.2 Billion by 2020, from an around USD 15.0 Billion in 2015, at a CAGR of 9.1% from 2015 to 2020.
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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