The Europe frequency converter market size reached US$ 7.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.0 Billion by 2028, exhibiting a growth rate (CAGR) of 9.74% during 2023-2028.
A frequency converter, also known as frequency changer, refers to electromechanical equipment used to change the frequency of alternating current (AC). It transforms fixed-rate and voltage sinewave or line power into a variable frequency and voltage output. This power conversion device uses a combination of semiconductors and diodes to facilitate proper frequency change. It also manipulates the speed, torque, and processes the temperature without using a separate controller. In Europe, frequency converters have gained traction as they are low cost and do not require additional throttle valves and dampers. They also reduce the electrical and mechanical stress on the machine and its sub-components.
Europe represents one of the largest markets for frequency converters in the world. The market is primarily driven by the European Union's new motor efficiency regulation, the premium efficiency stage, or IE3. This has been mandated by Regulation 640/2009 for all-electric motors, resulting in the shift toward higher efficiency standards that requires the use of frequency converters. Besides this, the rising usage of frequency converters in industrial applications is also contributing to the market growth. Furthermore, the increasing offshore windmill installations, especially in Northern Europe, in the North Sea, the Irish Sea, Baltic Sea, and the English Channel, have increased the demand for the product.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe frequency converter market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on type and end use industry.
Breakup by Type:
- Static Frequency Converter
- Rotary Frequency Converter
Breakup by End Use Industry:
- Aerospace and Defense
- Power and Energy
- Oil and Gas
- Process Industry
Breakup by Country:
- United Kingdom
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
| Historical Period
||Type, End Use Industry, Country
||Germany, France, United Kingdom, Italy, Spain, Others
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Key Questions Answered in This Report:
- How has the Europe frequency converter market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Europe frequency converter market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Europe frequency converter market and who are the key players?
- What is the degree of competition in the industry?