About Frequency Converter
A frequency converter is referred as an electric device that converts a current with one frequency to a current with another frequency. The voltage is normally the same before and after frequency conversion. It changes the AC power's frequency to suit specific needs, like powering industrial machinery or controlling the speed of electric motors. These converters operate electrical machinery at varying speeds to enhance performance and overall productivity. Product improvements such as the incorporation of improved output filters that reduce common mode currents while also changing the phase-to-phase voltage into a sinusoidal signal contribute to market growth. The growing focus on energy efficiency and the automation revolution where advancements in converter technology are adding new verses to its potential, promising even greater efficiency and affordability. The overall outlook for the frequency converter market remains positive, and with continued innovation and technological advancements.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.3% |
The frequency converter market presents a dynamic and competitive landscape with opportunities for businesses of all sizes. By focusing on innovation, catering to specific market needs, and providing value-added services, players can carve a niche for themselves and thrive in this growing sector. Analyst at AMA Research estimates that United Kingdom Manufacturers will contribute the maximum growth to Global Frequency Converter market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), Siemens AG (Germany), Schneider Electric (France), Danfoss (Denmark), Mitsubishi Electric (Japan), Rockwell Automation (United States), Yaskawa Electric Corporation (Japan), Emerson Electric Co. (United States), Eaton (Ireland), United Technologies Corporation (United States) and EM Research, Inc (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Fuji Electric (Japan), WEG Electric Motors (Brazil), Parker Hannifin Corp. (United States), Omron Corporation (Japan) and Control Techniques (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Frequency Converter market by Type (Static and Rotary) and Region.
On the basis of geography, the market of Frequency Converter has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Rectifiers will boost the Frequency Converter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Users, the sub-segment i.e. Aerospace and Defense will boost the Frequency Converter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Phase, the sub-segment i.e. 1 Phase will boost the Frequency Converter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Capacity, the sub-segment i.e. <10 kVA will boost the Frequency Converter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Voltage, the sub-segment i.e. 110-120V will boost the Frequency Converter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing demand of Industrial Automation
Market Growth Drivers:
Rising Electrical Efficiency and Growing Modernization of Electronic Infrastructure
Challenges:
Frequency Converter can cause Noise in motor power cables.
Restraints:
Fluctuation in Raw material used in frequency converters, such as semiconductors, rare earth metals
Opportunities:
Increasing adoption of automation in manufacturing, power generation, and mining. and Advancements in technology such as artificial intelligence and predictive maintenance
Market Leaders and their expansionary development strategies
In July 2023, Mitsubishi Electric and American industrial automation leader Rockwell Automation announced a collaboration to develop and market industrial automation solutions, including frequency converters, for the North American market.
In May 2023, ABB launches ACS-880, world's most compact medium-voltage drive. The ACS-880 is designed for space-constrained applications. It offers enhanced efficiency, reliability, and connectivity features, making it ideal for industries like oil & gas, mining, and pulp & paper.
Key Target Audience
Educational Institutes, Potential Investors, Government and Regulatory bodies, Research Consultancy and Firm and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.