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Frequency Converter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview 2022-2027:

The global frequency converter market size reached US$ 21.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.1 Billion by 2027, exhibiting a growth rate (CAGR) of 7.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Frequency converters or frequency changers are electromechanical equipments that are used to convert alternating current (AC) of one frequency to another frequency. It is a power conversion device that transforms a fixed frequency and voltage sine-wave power or line power into a variable frequency and variable voltage output. They use a combination of semiconductors and diodes to facilitate proper frequency change. The key function is to manipulate the speed, torque and process temperature without using a separate controller and reduce the electric and mechanical stress on the equipment and its sub-components. It minimizes the maintenance costs of equipment and eliminates the need for additional throttle valves and dampers.

 

 
 

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Rising industrial usage of frequency converters is one of the key factors driving their market growth. There is an increasing demand for efficient electric machinery and technologically advanced equipment in the developing countries. The development of high-speed rails that require frequency converters to control the speed of engines, pumps and fans are further catalyzing the growth of the market. Furthermore, the equipment is also being extensively used in the aerospace and defense industry where it is used for monitoring the activities of refinement axes. In the manufacturing sector, these converters are used to operate electrical machinery at varying speeds to enhance performance and overall productivity. Additionally, with the increasing trend of offshore wind power generation, the demand for the product has significantly grown. Moreover, product innovations such as the integration of advanced output filters that dampen the common mode currents and simultaneously change the phase-to-phase voltage into a sinusoidal signal are also contributing to the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global frequency converter market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on type and end use industry.

Breakup by Type:

 

 
 

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  • Static Frequency Converter 
  • Rotary Frequency Converter
     

Breakup by End Use Industry:

  • Aerospace and Defense
  • Power and Energy
  • Oil and Gas
  • Traction
  • Marine/Offshore
  • Process Industry
  • Others
     

Breakup by Region:

 

 
 

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  • Europe
  • North America
  • Asia Pacific
  • Middle East and Africa
  • Latin America
     

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being ABB Asea Brown Boveri Ltd., General Electric (GE) Company, Aplab Limited, Siemens AG, Danfoss A/S, Magnus Power Private Limited, Georator Corporation, Advance Electronic Labs., Corp., Piller Group (Langley Holdings PLC), NR Electric Co. Ltd., KGS Electronics, Inc., Avionic Instruments LLC, Power System & Controls, Inc., and Shenzhen Sinepower Technology Co., Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, End Use Industry, Region
Region Covered Europe, North America, Asia Pacific, Latin America, Middle East and Africa
Companies Covered ABB Asea Brown Boveri Ltd., General Electric (GE) Company, Aplab Limited, Siemens AG, Danfoss A/S, Magnus Power Private Limited, Georator Corporation, Advance Electronic Labs., Corp., Piller Group (Langley Holdings PLC), NR Electric Co. Ltd., KGS Electronics, Inc., Avionic Instruments LLC, Power System & Controls, Inc., and Shenzhen Sinepower Technology Co., Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Frequency Converter Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Type
    5.5    Market Breakup by End Use Industry
    5.6    Market Breakup by Region
    5.7    Market Forecast
6   Market Breakup by Type
    6.1    Static Frequency Converter
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Rotary Frequency Converter
        6.2.1    Market Trends
        6.2.2    Market Forecast
7   Market Breakup by End Use Industry
    7.1    Aerospace and Defense
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Power and Energy
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Oil and Gas
        7.3.1    Market Trends
        7.3.2    Market Forecast
    7.4    Traction
        7.4.1    Market Trends
        7.4.2    Market Forecast
    7.5    Marine/Offshore
        7.5.1    Market Trends
        7.5.2    Market Forecast
    7.6    Process Industry
        7.6.1    Market Trends
        7.6.2    Market Forecast
    7.7    Others
        7.7.1    Market Trends
        7.7.2    Market Forecast
8   Market Breakup by Region
    8.1    Europe
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    North America
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Asia Pacific
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Middle East and Africa
        8.4.1    Market Trends
        8.4.2    Market Forecast
    8.5    Latin America
        8.5.1    Market Trends
        8.5.2    Market Forecast
9   SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10  Value Chain Analysis
11  Porter’s Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12  Price Analysis
13  Competitive Landscape

    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    ABB Asea Brown Boveri Ltd.
        13.3.2    General Electric (GE) Company
        13.3.3    Aplab Limited
        13.3.4    Siemens AG
        13.3.5    Danfoss A/S
        13.3.6    Magnus Power Private Limited 
        13.3.7    Georator Corporation
        13.3.8    Advance Electronic Labs., Corp. 
        13.3.9    Piller Group (Langley Holdings PLC) 
        13.3.10     NR Electric Co. Ltd 
        13.3.11     KGS Electronics, Inc. 
        13.3.12     Avionic Instruments LLC 
        13.3.13     Power System & Controls, Inc. 
        13.3.14     Shenzhen Sinepower Technology Co., Ltd.

List of Figures

Figure 1: Global: Frequency Converter Market: Major Drivers and Challenges
Figure 2: Global: Frequency Converter Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Frequency Converter Market: Breakup by Type (in %), 2021
Figure 4: Global: Frequency Converter Market: Breakup by End Use Industry (in %), 2021
Figure 5: Global: Frequency Converter Market: Breakup by Region (in %), 2021
Figure 6: Global: Frequency Converter Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 7: Global: Frequency Converter Industry: SWOT Analysis
Figure 8: Global: Frequency Converter Industry: Value Chain Analysis
Figure 9: Global: Frequency Converter Industry: Porter’s Five Forces Analysis
Figure 10: Global: Frequency Converter (Static) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Frequency Converter (Static) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Frequency Converter (Rotary) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Frequency Converter (Rotary) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Frequency Converter (Aerospace and Defense) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Frequency Converter (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Frequency Converter (Power and Energy) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Frequency Converter (Power and Energy) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Frequency Converter (Oil and Gas) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Frequency Converter (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Frequency Converter (Traction) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Frequency Converter (Traction) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Frequency Converter (Marine/Offshore) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Frequency Converter (Marine/Offshore) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Frequency Converter (Process Industry) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Frequency Converter (Process Industry) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Frequency Converter (Other End Use Industries) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Frequency Converter (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Europe: Frequency Converter Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Europe: Frequency Converter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: North America: Frequency Converter Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: North America: Frequency Converter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Asia Pacific: Frequency Converter Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Asia Pacific: Frequency Converter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Middle East and Africa: Frequency Converter Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Middle East and Africa: Frequency Converter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Latin America: Frequency Converter Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Latin America: Frequency Converter Market Forecast: Sales Value (in Million US$), 2022-2027

List of Tables

Table 1: Global: Frequency Converter Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Frequency Converter Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Frequency Converter Market Forecast: Breakup by End Use Industry (in Million US$), 2022-2027
Table 4: Global: Frequency Converter Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Frequency Converter Market: Competitive Structure
Table 6: Global: Frequency Converter Market: Key Players


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Key Questions Answered in This Report

The global frequency converter market was valued at US$ 21.2 Billion in 2021.

We expect the global frequency converter market to exhibit a CAGR of 7.1% during 2022-2027.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for frequency converters.  

The rising demand for frequency converter across the aerospace and defense industry for monitoring the activities of refinement axes is primarily driving the global frequency converter market.

Based on the type, the global frequency converter market has been segregated into static frequency converter and rotary frequency converter. Currently, static frequency converter holds the largest market share.

Based on the end use industry, the global frequency converter market can be bifurcated into aerospace and defense, power and energy, oil and gas, traction, marine/offshore, process industry, and others. Among these, the aerospace and defense industry exhibits a clear dominance in the market.

On a regional level, the market has been classified into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

Some of the major players in the global frequency converter market include ABB Asea Brown Boveri Ltd., General Electric (GE) Company, Aplab Limited, Siemens AG, Danfoss A/S, Magnus Power Private Limited, Georator Corporation, Advance Electronic Labs., Corp., Piller Group (Langley Holdings PLC), NR Electric Co. Ltd., KGS Electronics, Inc., Avionic Instruments LLC, Power System & Controls, Inc., and Shenzhen Sinepower Technology Co., Ltd.

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