United States Frequency Converter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

United States Frequency Converter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112024A2536
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Market Overview:

The United States frequency converter market size reached US$ 5.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.59% during 2023-2028.

A frequency converter, or frequency changer, converts the input frequency of alternating current (AC). It is utilized in industrial applications to match the frequency of the power supply with the frequency requirement of the connected equipment or machinery. Some of the common components of frequency converters include the rectifier, inverter, power filter, EMI filter, and isolation transformer.

The United States frequency converter market is primarily driven by the use of frequency converters in industrial applications to facilitate effective control of energy usage, as these devices can reduce electricity consumption by 20-50%. Moreover, the Government of the United States is shifting toward sustainable infrastructure, with more focus on energy conservation and efficiency. The Government is also implementing various new policies for improving the efficacy of energy supply, which, in turn, is providing a positive impact on the market growth. Besides this, frequency converters are used in the aerospace and defense industries in simulator applications, as they reduce the dependence on auxiliary power units while the aircraft is undergoing maintenance.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States frequency converter market report, along with forecasts at the country and regional 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
  • Traction
  • Marine/Offshore
  • Process Industry
  • Others
     

Breakup by Region:

  • Northeast
  • Midwest
  • South
  • West
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Type, End Use Industry, Region
Region Covered Northeast, Midwest, South, West
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
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)

Key Questions Answered in This Report

The United States frequency converter market was valued at US$ 5.3 Billion in 2022.

We expect the United States frequency converter market to exhibit a CAGR of 8.59% during 2023-2028.

The rising adoption of frequency converters, as they aid in facilitating effective control of energy usage, is primarily driving the United States frequency converter market.

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

Based on the type, the United States frequency converter market has been segregated into static frequency converter and rotary frequency converter, where static frequency converter currently exhibits a clear dominance in the market.

Based on the end use industry, the United States frequency converter market can be bifurcated into aerospace and defense, power and energy, oil and gas, traction, marine/offshore, process industry, and others. Currently, aerospace and defense holds the largest market share.

On a regional level, the market has been classified into Northeast, Midwest, South, and West.

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United States Frequency Converter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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