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Frequency Converter Market

12-14-2018 11:41 AM CET | Energy & Environment

Press release from: Market Research Future

Frequency Converter Global Market – Overview

A frequency converter is an electronic or electromechanical device that converts the frequency of alternating current according to the requirement of the appliance connected. It is used to manage the speed of a pump with frequency inverter. Furthermore, these converters can minimize the electrical and mechanical stress. A frequency converter plays an important role, in extending the durability of the motors, pumps and other equipment. The growing demand for frequency converters in developing countries and economical systems is driving the frequency converter market worldwide. Currently, the device is used in industries such as aerospace & defence and process industry. The demand for economical devices in industries to enhance performance is expected to create further opportunities for the market. Varying worldwide electrical standards of main electricity supply, international trading, and growing demand for energy-efficient frequency converters are the main driving factors of the market. As per the study conducted by Market

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Frequency converters are devices that converts AC of one frequency to another frequency by alternating the currents. They are used to manipulate the speed of a pump with frequency inverter. Furthermore, these converters can minimize the electrical as well as mechanical stress. Frequency converter plays a vital role, in extending the component life of the motors, pumps and others equipment. Rising demand for frequency converter in developing countries and efficient systems is driving the frequency converter market worldwide. Today, the consumption volume of the device comes from industries such as aerospace and defence and process industry. Demand for efficient devices across an array of industries to enhance performance is expected to create greater opportunities.

The majority of power generation plant use non-renewable fuels, and therefore, the importance of energy efficiency has gained significant ground over the last decade. Frequency converters are used for saving energy and optimizing energy consumption. Depending on the application, energy savings of up to 70% are possible with fan, pump, and compressor drives. The increase in usage of these converters for various other applications such as controlling pressure, temperature, and flow without the use of a separate controller is predicted to be a key trend in the frequency converter market, globally.

Geographically, the global frequency converter market has been divided into North America, Europe, Asia Pacific and Rest of the World. Static frequency converters are expected to grow at a high pace in developing economies of regions such as Asia-Pacific and Middle East & Africa. As these regions spend heavily on infrastructural developments such as, manufacturing & production facilities, ports, and airports, electrical equipment used here need specific current frequency to run efficiently. So the need for efficient and clean process is expected to drive the demand for frequency converters.

Currently, Europe dominates the global frequency market due to extensive investments from countries such as Germany, France and United Kingdom into the development of the aerospace & defence, manufacturing, energy infrastructures and marine/offshore. The second largest market is North America.

Industry News

In December, 2017 – ABB confirmed as the #1 in Distributed Control Systems globally. With around 20% market share across industries, ABB is the leader of digitally enabled control and automation, as confirmed by the “Distributed Control Systems Global Market 2016-2021” report.

In September, 2017 – ABB to acquired GE Industrial Solutions. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market.

Frequency Converter Global Market – Segmentation

The scope of global frequency converter market is segmented into two major segments which are explained below:

By Type

Static
Rotary

By End User

Aerospace & Defence
Power & Energy
Process Industry
Traction
Oil & Gas
Marine/Offshore

Frequency Converter Global Market - Competitive Analysis

Frequency converter market will continue to develop globally, as the market for electrical component is highly competitive and there is always a rising demand for subsequent electrical components. The prominent market players continuously strive for sustainable development of their product, so as to stay on top in the frequency converter market. Most of the major market share is hold by the tier 1 companies in the electrical component industry. New entrants are highly subjected to risk while competing in a well matured market, whereas it will be less competitive for the new entrants to enter into emerging economies.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Email: sales@marketresearchfuture.com

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