Global Frequency Converter Market Size, Share & Industry Trends Analysis Report By Type (Rotary and Static), By End User, By Regional Outlook and Forecast, 2022 - 2028
Description
Global Frequency Converter Market Size, Share & Industry Trends Analysis Report By Type (Rotary and Static), By End User, By Regional Outlook and Forecast, 2022 - 2028
The Global Frequency Converter Market size is expected to reach $28.7 billion by 2028, rising at a market growth of 6.1% CAGR during the forecast period.
A frequency converter is a mechanically controlled electromechanical device that changes the frequency of an alternating current. Apart from utility frequency, which varies by country and is either 50 Hz or 60 Hz, frequency converters allow the equipment and gadgets to work at their standard frequency. In many sectors, frequency converters are used to adjust the speed and torque of AC motors based on the demands of the load. Static and rotating frequency converters are the two types of frequency converters used in businesses for frequency conversion.
The growth of the frequency converter market is expected to be primarily driven by the development of high-speed rails, which need frequency converters to regulate the speed of engines and fans, as well as the widespread use of equipment in aerospace and defense sectors for monitoring axes. The modernization of electronic infrastructure serve as the main market drivers for frequency converters worldwide. High electrical efficiency is necessary right now, and using a frequency converter satisfies this need.
Along with that, the growing trend of offshore wind power generation is accelerating the overall demand for frequency converters. The industry's ongoing product advancements, such as the incorporation of sophisticated output filters that block common mode currents while also transforming phase-to-phase voltage into a sinusoidal signal, also boost the market's expansion.
Solid-state and rotational frequency converters are the two types of frequency converters. It is used by frequency converters to regulate the pump's speed. Both mechanical, as well as electrical loads, can be decreased with the use of frequency converters, which prolongs the life of motors, pumps, and other electrical and mechanical equipment. The input AC voltage is transformed into rotating mechanical force by the rotary frequency converter. The generator receives this rotational force via rotating mechanical strength. The generator transforms mechanical energy into AC electricity as an output.
COVID-19 Impact Analysis
The outbreak of the coronavirus has a significant influence on a variety of businesses and nations around the world. The growth rates of industries like construction and building, oil and gas, transportation, pharmaceuticals, energy, food processing, electronics, textiles, and others have decreased as a result of the economic shutdown. Furthermore, the COVID-19 impacted countries' decreased demand for power is predicted to hinder the expansion of the frequency converter market in 2020. Europe's major economies, including Germany, France, Spain, Italy, and others, are enforcing stringent regulations to stop the Coronavirus from spreading in their respective areas. As a result, there is a significant impact on the frequency converter supply chain and demand, which in turn restrained the market's growth until the start of production, and manufacturing worldwide.
Market Growth Factors
Reduce Disruptions To Power Lines
The power distribution system connected to the motor is severely taxed when an AC motor is started across the line and required to supply 300–600% of its full load current. Depending on the size of the motor and the distribution system's capacity, when the supply voltage drops, it may cause connected sensitive equipment to trip offline because of the low voltage. Sensors, proximity switches, computers, proximity switches, and contactors are some examples of items that are voltage sensitive and may fail if a large AC motor line is started nearby. Since the motor is started at zero voltage and scaled up, variable frequency converters can help in removing this voltage sag.
Need For Water & Wastewater Treatment Facilities
Over the forecast period, it is anticipated that rising freshwater resource depletion coupled with accelerating urbanization and industrialization would drive increased demand for clean water. The need to adhere to severe regulatory laws pertaining to water & wastewater treatment worldwide, together with growing environmental concerns, is expected to support the market. Furthermore, it is projected that the investments in wastewater treatment facilities will gradually rise by the government authorities of different countries. In addition to this, technological development, and population growth have all led to an increase in the demand for fresh and treated water around the world.
Market Restraining Factors
Frequency Converter Are Usually Expensive
Many customers experience "sticker shock" while trying to purchase a frequency converter. Whether the power frequency converter is an electronic (solid-state) unit or a rotary unit (motor-generator set) doesn't really matter. In addition, the cost disparity amongst vendors is actually fairly minimal. A frequency converter must entirely recreate the power in order to convert the frequency, in contrast to voltage conversion, which merely needs a relatively passive transformer. In a rotary converter, the drive motor transforms incoming electrical energy into mechanical power. The rotational energy is then fed into a generator, where it is transformed back into electrical output. Lots of gear, moving pieces, and costs.
End-User Outlook
Based on end-user, the frequency converter market is segmented into aerospace and defense; power and energy; oil and gas, traction, marine/offshore; process industry and others. The marine/offshore segment procured a significant revenue share in the frequency converter market in 2021. The marine industry, which consists of governmental organizations, shipping firms, cruise lines, auto ferry ports, naval dockyards, harbors, and marina operators, is actively looking for substitute methods of supplying shoreside power for the ships when they berth at the port.
Type Outlook
On the basis of type, the frequency converter market is fragmented into static and rotary. In 2021, the rotary frequency converter segment held the largest revenue share in the frequency market. This is a result of rotary frequency converters being used more frequently in large applications with power ratings of at least 10 kVA. Rotary frequency converters are devices that change the frequency of power. This is accomplished by mechanically and electrically isolating a generator and attaching it to a motor. Direct coupling or coupling with belts and sheaves are both options.
Regional Outlook
Region wise, the frequency converter market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, Asia-Pacific led the frequency converters market with the highest revenue share. This is attributable to a rise in the requirement for a consistent and reliable power supply caused by population growth in Asia-Pacific, particularly in the nations like China, Japan, and India. Industries including oil and gas, power generation, food and beverage, and others are expanding quickly. The Asia-Pacific region's industrial and manufacturing sectors have seen an increase in automation, which has fueled the development of the frequency converter that is frequently used for timing and synchronization.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, ABB Group, General Electric (GE) Co., The Danfoss Group, Aplab Limited, NR Electric Co., Ltd., Magnus Power Pvt. Ltd., KGS Electronics, Georator Corporation, and Advance Electronic Labs., Corp.
Scope of the Study
Market Segments covered in the Report:
By Type
Canada
Mexico
Rest of North America
UK
France
Russia
Spain
Italy
Rest of Europe
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA
Companies Profiled
The Global Frequency Converter Market size is expected to reach $28.7 billion by 2028, rising at a market growth of 6.1% CAGR during the forecast period.
A frequency converter is a mechanically controlled electromechanical device that changes the frequency of an alternating current. Apart from utility frequency, which varies by country and is either 50 Hz or 60 Hz, frequency converters allow the equipment and gadgets to work at their standard frequency. In many sectors, frequency converters are used to adjust the speed and torque of AC motors based on the demands of the load. Static and rotating frequency converters are the two types of frequency converters used in businesses for frequency conversion.
The growth of the frequency converter market is expected to be primarily driven by the development of high-speed rails, which need frequency converters to regulate the speed of engines and fans, as well as the widespread use of equipment in aerospace and defense sectors for monitoring axes. The modernization of electronic infrastructure serve as the main market drivers for frequency converters worldwide. High electrical efficiency is necessary right now, and using a frequency converter satisfies this need.
Along with that, the growing trend of offshore wind power generation is accelerating the overall demand for frequency converters. The industry's ongoing product advancements, such as the incorporation of sophisticated output filters that block common mode currents while also transforming phase-to-phase voltage into a sinusoidal signal, also boost the market's expansion.
Solid-state and rotational frequency converters are the two types of frequency converters. It is used by frequency converters to regulate the pump's speed. Both mechanical, as well as electrical loads, can be decreased with the use of frequency converters, which prolongs the life of motors, pumps, and other electrical and mechanical equipment. The input AC voltage is transformed into rotating mechanical force by the rotary frequency converter. The generator receives this rotational force via rotating mechanical strength. The generator transforms mechanical energy into AC electricity as an output.
COVID-19 Impact Analysis
The outbreak of the coronavirus has a significant influence on a variety of businesses and nations around the world. The growth rates of industries like construction and building, oil and gas, transportation, pharmaceuticals, energy, food processing, electronics, textiles, and others have decreased as a result of the economic shutdown. Furthermore, the COVID-19 impacted countries' decreased demand for power is predicted to hinder the expansion of the frequency converter market in 2020. Europe's major economies, including Germany, France, Spain, Italy, and others, are enforcing stringent regulations to stop the Coronavirus from spreading in their respective areas. As a result, there is a significant impact on the frequency converter supply chain and demand, which in turn restrained the market's growth until the start of production, and manufacturing worldwide.
Market Growth Factors
Reduce Disruptions To Power Lines
The power distribution system connected to the motor is severely taxed when an AC motor is started across the line and required to supply 300–600% of its full load current. Depending on the size of the motor and the distribution system's capacity, when the supply voltage drops, it may cause connected sensitive equipment to trip offline because of the low voltage. Sensors, proximity switches, computers, proximity switches, and contactors are some examples of items that are voltage sensitive and may fail if a large AC motor line is started nearby. Since the motor is started at zero voltage and scaled up, variable frequency converters can help in removing this voltage sag.
Need For Water & Wastewater Treatment Facilities
Over the forecast period, it is anticipated that rising freshwater resource depletion coupled with accelerating urbanization and industrialization would drive increased demand for clean water. The need to adhere to severe regulatory laws pertaining to water & wastewater treatment worldwide, together with growing environmental concerns, is expected to support the market. Furthermore, it is projected that the investments in wastewater treatment facilities will gradually rise by the government authorities of different countries. In addition to this, technological development, and population growth have all led to an increase in the demand for fresh and treated water around the world.
Market Restraining Factors
Frequency Converter Are Usually Expensive
Many customers experience "sticker shock" while trying to purchase a frequency converter. Whether the power frequency converter is an electronic (solid-state) unit or a rotary unit (motor-generator set) doesn't really matter. In addition, the cost disparity amongst vendors is actually fairly minimal. A frequency converter must entirely recreate the power in order to convert the frequency, in contrast to voltage conversion, which merely needs a relatively passive transformer. In a rotary converter, the drive motor transforms incoming electrical energy into mechanical power. The rotational energy is then fed into a generator, where it is transformed back into electrical output. Lots of gear, moving pieces, and costs.
End-User Outlook
Based on end-user, the frequency converter market is segmented into aerospace and defense; power and energy; oil and gas, traction, marine/offshore; process industry and others. The marine/offshore segment procured a significant revenue share in the frequency converter market in 2021. The marine industry, which consists of governmental organizations, shipping firms, cruise lines, auto ferry ports, naval dockyards, harbors, and marina operators, is actively looking for substitute methods of supplying shoreside power for the ships when they berth at the port.
Type Outlook
On the basis of type, the frequency converter market is fragmented into static and rotary. In 2021, the rotary frequency converter segment held the largest revenue share in the frequency market. This is a result of rotary frequency converters being used more frequently in large applications with power ratings of at least 10 kVA. Rotary frequency converters are devices that change the frequency of power. This is accomplished by mechanically and electrically isolating a generator and attaching it to a motor. Direct coupling or coupling with belts and sheaves are both options.
Regional Outlook
Region wise, the frequency converter market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, Asia-Pacific led the frequency converters market with the highest revenue share. This is attributable to a rise in the requirement for a consistent and reliable power supply caused by population growth in Asia-Pacific, particularly in the nations like China, Japan, and India. Industries including oil and gas, power generation, food and beverage, and others are expanding quickly. The Asia-Pacific region's industrial and manufacturing sectors have seen an increase in automation, which has fueled the development of the frequency converter that is frequently used for timing and synchronization.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, ABB Group, General Electric (GE) Co., The Danfoss Group, Aplab Limited, NR Electric Co., Ltd., Magnus Power Pvt. Ltd., KGS Electronics, Georator Corporation, and Advance Electronic Labs., Corp.
Scope of the Study
Market Segments covered in the Report:
By Type
- Rotary
- Static
- Aerospace & Defense
- Traction
- Oil & Gas
- Marine/Offshore
- Power & Energy
- Process Industry & Others
- North America
Canada
Mexico
Rest of North America
- Europe
UK
France
Russia
Spain
Italy
Rest of Europe
- Asia Pacific
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific
- LAMEA
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA
Companies Profiled
- Siemens AG
- ABB Group
- General Electric (GE) Co.
- The Danfoss Group
- Aplab Limited
- NR Electric Co., Ltd.
- Magnus Power Pvt. Ltd.
- KGS Electronics
- Georator Corporation
- Advance Electronic Labs., Corp.
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
165 Pages
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Frequency Converter Market, by Type
- 1.4.2 Global Frequency Converter Market, by End User
- 1.4.3 Global Frequency Converter Market, by Geography
- 1.5 Methodology for the research
- Chapter 2. Market Overview
- 2.1 Introduction
- 2.1.1 Overview
- 2.1.1.1 Market Composition & Scenario
- 2.2 Key Factors Impacting the Market
- 2.2.1 Market Drivers
- 2.2.2 Market Restraints
- Chapter 3. Global Frequency Converter Market by Type
- 3.1 Global Rotary Market by Region
- 3.2 Global Static Market by Region
- Chapter 4. Global Frequency Converter Market by End User
- 4.1 Global Aerospace & Defense Market by Region
- 4.2 Global Traction Market by Region
- 4.3 Global Oil & Gas Market by Region
- 4.4 Global Marine/Offshore Market by Region
- 4.5 Global Power & Energy Market by Region
- 4.6 Global Process Industry & Others Market by Region
- Chapter 5. Global Frequency Converter Market by Region
- 5.1 North America Frequency Converter Market
- 5.1.1 North America Frequency Converter Market by Type
- 5.1.1.1 North America Rotary Market by Country
- 5.1.1.2 North America Static Market by Country
- 5.1.2 North America Frequency Converter Market by End User
- 5.1.2.1 North America Aerospace & Defense Market by Country
- 5.1.2.2 North America Traction Market by Country
- 5.1.2.3 North America Oil & Gas Market by Country
- 5.1.2.4 North America Marine/Offshore Market by Country
- 5.1.2.5 North America Power & Energy Market by Country
- 5.1.2.6 North America Process Industry & Others Market by Country
- 5.1.3 North America Frequency Converter Market by Country
- 5.1.3.1 US Frequency Converter Market
- 5.1.3.1.1 US Frequency Converter Market by Type
- 5.1.3.1.2 US Frequency Converter Market by End User
- 5.1.3.2 Canada Frequency Converter Market
- 5.1.3.2.1 Canada Frequency Converter Market by Type
- 5.1.3.2.2 Canada Frequency Converter Market by End User
- 5.1.3.3 Mexico Frequency Converter Market
- 5.1.3.3.1 Mexico Frequency Converter Market by Type
- 5.1.3.3.2 Mexico Frequency Converter Market by End User
- 5.1.3.4 Rest of North America Frequency Converter Market
- 5.1.3.4.1 Rest of North America Frequency Converter Market by Type
- 5.1.3.4.2 Rest of North America Frequency Converter Market by End User
- 5.2 Europe Frequency Converter Market
- 5.2.1 Europe Frequency Converter Market by Type
- 5.2.1.1 Europe Rotary Market by Country
- 5.2.1.2 Europe Static Market by Country
- 5.2.2 Europe Frequency Converter Market by End User
- 5.2.2.1 Europe Aerospace & Defense Market by Country
- 5.2.2.2 Europe Traction Market by Country
- 5.2.2.3 Europe Oil & Gas Market by Country
- 5.2.2.4 Europe Marine/Offshore Market by Country
- 5.2.2.5 Europe Power & Energy Market by Country
- 5.2.2.6 Europe Process Industry & Others Market by Country
- 5.2.3 Europe Frequency Converter Market by Country
- 5.2.3.1 Germany Frequency Converter Market
- 5.2.3.1.1 Germany Frequency Converter Market by Type
- 5.2.3.1.2 Germany Frequency Converter Market by End User
- 5.2.3.2 UK Frequency Converter Market
- 5.2.3.2.1 UK Frequency Converter Market by Type
- 5.2.3.2.2 UK Frequency Converter Market by End User
- 5.2.3.3 France Frequency Converter Market
- 5.2.3.3.1 France Frequency Converter Market by Type
- 5.2.3.3.2 France Frequency Converter Market by End User
- 5.2.3.4 Russia Frequency Converter Market
- 5.2.3.4.1 Russia Frequency Converter Market by Type
- 5.2.3.4.2 Russia Frequency Converter Market by End User
- 5.2.3.5 Spain Frequency Converter Market
- 5.2.3.5.1 Spain Frequency Converter Market by Type
- 5.2.3.5.2 Spain Frequency Converter Market by End User
- 5.2.3.6 Italy Frequency Converter Market
- 5.2.3.6.1 Italy Frequency Converter Market by Type
- 5.2.3.6.2 Italy Frequency Converter Market by End User
- 5.2.3.7 Rest of Europe Frequency Converter Market
- 5.2.3.7.1 Rest of Europe Frequency Converter Market by Type
- 5.2.3.7.2 Rest of Europe Frequency Converter Market by End User
- 5.3 Asia Pacific Frequency Converter Market
- 5.3.1 Asia Pacific Frequency Converter Market by Type
- 5.3.1.1 Asia Pacific Rotary Market by Country
- 5.3.1.2 Asia Pacific Static Market by Country
- 5.3.2 Asia Pacific Frequency Converter Market by End User
- 5.3.2.1 Asia Pacific Aerospace & Defense Market by Country
- 5.3.2.2 Asia Pacific Traction Market by Country
- 5.3.2.3 Asia Pacific Oil & Gas Market by Country
- 5.3.2.4 Asia Pacific Marine/Offshore Market by Country
- 5.3.2.5 Asia Pacific Power & Energy Market by Country
- 5.3.2.6 Asia Pacific Process Industry & Others Market by Country
- 5.3.3 Asia Pacific Frequency Converter Market by Country
- 5.3.3.1 China Frequency Converter Market
- 5.3.3.1.1 China Frequency Converter Market by Type
- 5.3.3.1.2 China Frequency Converter Market by End User
- 5.3.3.2 Japan Frequency Converter Market
- 5.3.3.2.1 Japan Frequency Converter Market by Type
- 5.3.3.2.2 Japan Frequency Converter Market by End User
- 5.3.3.3 India Frequency Converter Market
- 5.3.3.3.1 India Frequency Converter Market by Type
- 5.3.3.3.2 India Frequency Converter Market by End User
- 5.3.3.4 South Korea Frequency Converter Market
- 5.3.3.4.1 South Korea Frequency Converter Market by Type
- 5.3.3.4.2 South Korea Frequency Converter Market by End User
- 5.3.3.5 Singapore Frequency Converter Market
- 5.3.3.5.1 Singapore Frequency Converter Market by Type
- 5.3.3.5.2 Singapore Frequency Converter Market by End User
- 5.3.3.6 Malaysia Frequency Converter Market
- 5.3.3.6.1 Malaysia Frequency Converter Market by Type
- 5.3.3.6.2 Malaysia Frequency Converter Market by End User
- 5.3.3.7 Rest of Asia Pacific Frequency Converter Market
- 5.3.3.7.1 Rest of Asia Pacific Frequency Converter Market by Type
- 5.3.3.7.2 Rest of Asia Pacific Frequency Converter Market by End User
- 5.4 LAMEA Frequency Converter Market
- 5.4.1 LAMEA Frequency Converter Market by Type
- 5.4.1.1 LAMEA Rotary Market by Country
- 5.4.1.2 LAMEA Static Market by Country
- 5.4.2 LAMEA Frequency Converter Market by End User
- 5.4.2.1 LAMEA Aerospace & Defense Market by Country
- 5.4.2.2 LAMEA Traction Market by Country
- 5.4.2.3 LAMEA Oil & Gas Market by Country
- 5.4.2.4 LAMEA Marine/Offshore Market by Country
- 5.4.2.5 LAMEA Power & Energy Market by Country
- 5.4.2.6 LAMEA Process Industry & Others Market by Country
- 5.4.3 LAMEA Frequency Converter Market by Country
- 5.4.3.1 Brazil Frequency Converter Market
- 5.4.3.1.1 Brazil Frequency Converter Market by Type
- 5.4.3.1.2 Brazil Frequency Converter Market by End User
- 5.4.3.2 Argentina Frequency Converter Market
- 5.4.3.2.1 Argentina Frequency Converter Market by Type
- 5.4.3.2.2 Argentina Frequency Converter Market by End User
- 5.4.3.3 UAE Frequency Converter Market
- 5.4.3.3.1 UAE Frequency Converter Market by Type
- 5.4.3.3.2 UAE Frequency Converter Market by End User
- 5.4.3.4 Saudi Arabia Frequency Converter Market
- 5.4.3.4.1 Saudi Arabia Frequency Converter Market by Type
- 5.4.3.4.2 Saudi Arabia Frequency Converter Market by End User
- 5.4.3.5 South Africa Frequency Converter Market
- 5.4.3.5.1 South Africa Frequency Converter Market by Type
- 5.4.3.5.2 South Africa Frequency Converter Market by End User
- 5.4.3.6 Nigeria Frequency Converter Market
- 5.4.3.6.1 Nigeria Frequency Converter Market by Type
- 5.4.3.6.2 Nigeria Frequency Converter Market by End User
- 5.4.3.7 Rest of LAMEA Frequency Converter Market
- 5.4.3.7.1 Rest of LAMEA Frequency Converter Market by Type
- 5.4.3.7.2 Rest of LAMEA Frequency Converter Market by End User
- Chapter 6. Company Profiles
- 6.1 Siemens AG
- 6.1.1 Company Overview
- 6.1.2 Financial Analysis
- 6.1.3 Segmental and Regional Analysis
- 6.1.4 Research & Development Expense
- 6.1.5 Recent strategies and developments:
- 6.1.5.1 Product Launches and Product Expansions:
- 6.1.5.2 Acquisition and Mergers:
- 6.1.6 SWOT Analysis
- 6.2 ABB Group
- 6.2.1 Company Overview
- 6.2.2 Financial Analysis
- 6.2.3 Segmental and Regional Analysis
- 6.2.4 Research & Development Expense
- 6.2.5 SWOT Analysis
- 6.3 General Electric (GE) Co.
- 6.3.1 Company Overview
- 6.3.2 Financial Analysis
- 6.3.3 Segmental and Regional Analysis
- 6.3.4 Research & Development Expense
- 6.3.5 SWOT Analysis
- 6.4 The Danfoss Group
- 6.4.1 Company Overview
- 6.4.2 Financial Analysis
- 6.4.3 Segmental and Regional Analysis
- 6.4.4 Research & Development Expenses
- 6.5 Aplab Limited
- 6.5.1 Company Overview
- 6.5.2 Financial Analysis
- 6.6 NR Electric Co., Ltd. (NARI Technology Development Limited Co.)
- 6.6.1 Company Overview
- 6.7 Magnus Power Pvt. Ltd.
- 6.7.1 Company Overview
- 6.8 KGS Electronics
- 6.8.1 Company Overview
- 6.9 Georator Corporation (Worldwide Electric Corporation LLC)
- 6.9.1 Company Overview
- 6.10. Advance Electronic Labs., Corp.
- 6.10.1 Company Overview
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
