According to IMARC Group’s latest report, titled “Frequency Converter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global frequency converter market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the global market to grow at a CAGR of around 7% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
A frequency converter, or frequency charger, is a device that converts a basic fixed-frequency, fixed voltage sine-wave power (line power) to a variable-frequency, variable-voltage output to control the speed of induction motors. It employs an AC power source to convert the frequency and voltage while reducing the mechanical and electrical stress, thereby extending the life of the pumps, motors, and other electrical equipment.
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Market Trends and Drivers:
The global frequency converter market is primarily driven by their application across various spaces, such as industrial automation, aerospace and defense, power, oil and gas, and manufacturing plants. They offer a wide range of advantages, including low maintenance costs, controlled ramp-up speed, limited torque, easy start, temperature-controlled processes, and pressure and flow control, which is propelling the growth of the market. Moreover, the rise in import and export of manufactured goods across the world, coupled with growing demand for enhanced performance ability of frequency converters, is positively impacting the market growth.
Frequency Converter Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the frequency converter market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Power System & Control
General Electric Company
The report has segmented the global frequency converter market on the basis of type, end use industry and region.
Market Breakup by Type:
Static Frequency Converter
Rotary Frequency Converter
Market Breakup by End Use Industry:
Aerospace and Defense
Power and Energy
Oil and Gas
Market Breakup by Region:
Middle East and Africa
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Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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