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.
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.
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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Global frequency converters market was dominated by Europe with a share of about 42% in 2014. It is estimated to grow at a CAGR of 8.0% from 2015 to 2020. Asia-Pacific is expected to be the fastest growing market, at a CAGR of 11.3% during the forecast period. Increasing expenditure in several industrial infrastructure and stringent government regulations is expected to increase demand of frequency converters, and drive the market in the Asia-Pacific region.
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.
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