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Global Frequency Converter Market Size, Share, Growth: By Type: Static Frequency Converter, Rotary Frequency Converter; By End Use: Aerospace and Defence, Power and Energy, Oil and Gas, Traction, Marine/Offshore, Process Industry, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Frequency Converter Market Outlook
The global frequency converter market size reached a value of almost USD 26.18 billion in the year 2023. The market is further expected to grow at a CAGR of 9.1% between 2024 and 2032 to reach a value of almost USD 57.24 billion by 2032.
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The global frequency converter market is driven by the rising demand for efficient electrical equipment. Some other factors contributing to the market growth include favourable properties of frequency converter like increasing energy savings, controlling acceleration, and removing power line disturbances.
Properties and Applications
Frequency converters, also known as frequency changers, are referred to as electromechanical equipment that are used to change alternating current (AC) of one frequency to another frequency. They are power conversion devices that transform into a variable voltage output and variable frequency from a voltage sine-wave power or line power and fixed frequency. It uses a combination of semiconductors and diodes to enable proper frequency change. The use of frequency converters helps minimize the maintenance costs of equipment and removes the need for extra throttle valves and dampers.
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On the basis of type, the market is bifurcated into static and rotary frequency converter.
On the basis of end-use, the market is segmented into:
- Aerospace and Defence
- Power and Energy
- Oil and Gas
- Traction
- Marine/Offshore
- Process Industry
- Others
The report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
The global frequency converter market is driven by the increasing usage of frequency converters in the industries. In addition to this, there is an increasing demand for effective electric machinery and advanced technological equipment in developing economies. The global frequency converter market is further aided by the development of high-speed rails that use frequency converters to monitor the speed of pumps, engines, and fans. Moreover, the equipment is also being widely used in the defence and aerospace industry, where it is used to supervise the activities of refinement axes. These converters are used in the manufacturing sector to operate electrical machinery at different speeds to improve performance and overall productivity.
The global frequency converter market is accelerated by the rising trend of offshore wind power generation. Furthermore, the growth of the market is supported by the product innovations taking place in the industry, such as the integration of advanced output filters that inhibit the common mode currents and, at the same time, convert the phase-to-phase voltage into a sinusoidal signal.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global frequency converter market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- General Electric
- ABB Ltd
- Georator Corporation
- NR Electric Co., Ltd.
- Avionic Instruments, LLC
- Siemens Aktiengesellschaft
- Kgs Electronics
- Power Systems & Controls, Inc.
- Sinepower
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End Use |
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| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Frequency Converter Market Analysis
8.1 Key Industry Highlights
8.2 Global Frequency Converter Historical Market (2018-2023)
8.3 Global Frequency Converter Market Forecast (2024-2032)
8.4 Global Frequency Converter Market by Type
8.4.1 Static Frequency Converter
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Rotary Frequency Converter
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Frequency Converter Market by End Use
8.5.1 Aerospace and Defence
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Power and Energy
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Oil and Gas
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Traction
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Marine/Offshore
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Process Industry
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Frequency Converter Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Frequency Converter Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Frequency Converter Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Frequency Converter Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Frequency Converter Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Frequency Converter Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 General Electric
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 ABB Ltd
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Georator Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 NR Electric Co., Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Avionic Instruments, LLC
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Siemens Aktiengesellschaft
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Kgs Electronics
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Power Systems & Controls, Inc.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Sinepower
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Frequency Converter Market: Key Industry Highlights, 2018 and 2032
2. Global Frequency Converter Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Frequency Converter Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Frequency Converter Historical Market: Breakup by End Use (USD Billion), 2018-2023
5. Global Frequency Converter Market Forecast: Breakup by End Use (USD Billion), 2024-2032
6. Global Frequency Converter Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Frequency Converter Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Frequency Converter Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Frequency Converter Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Frequency Converter Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Frequency Converter Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Frequency Converter Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Frequency Converter Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Frequency Converter Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Frequency Converter Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Frequency Converter Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Frequency Converter Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Frequency Converter Market Structure
Key Questions Answered in the Report
The global frequency converter market reached a value of USD 26.18 billion in 2023.
The market is projected to grow at a CAGR of nearly 9.1% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 57.24 billion by 2032.
The major drivers of the market include rising applications of frequency converters in various end-use sectors, growing demand for effective electric machinery and advanced technological equipment in developing countries, and the increasing demand for efficient electrical equipment.
The key trends guiding the market include the favourable properties of frequency converters, the growing development of high-speed rails, the increasing offshore wind power generation, and the rising use of frequency converters in the defence and aerospace sectors.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The major types of the product include static frequency converter and rotary frequency converter.
Aerospace and defence, power and energy, oil and gas, traction, marine/offshore, and process industry, among others, are the various end uses of frequency converter.
The leading players in the market are General Electric, ABB Ltd, Georator Corporation, NR Electric Co., Ltd., Avionic Instruments, LLC, Siemens Aktiengesellschaft, Kgs Electronics, Power Systems & Controls, Inc., and Sinepower, among others.
Analyst Review
The global frequency converter market attained a value of USD 26.18 billion in 2023, driven by the growth in the demand for efficient electrical equipment. Aided by the rising trend of offshore wind power generation, the industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 9.1%. The industry is projected to reach USD 57.24 billion by 2032.
EMR's meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its types, the global frequency converter market can be segmented into static and rotary frequency converter. On the basis of end uses, the industry can be divided into aerospace and defence, power and energy, oil and gas, traction, marine/offshore, and process industry, among others. The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include General Electric, ABB Ltd, Georator Corporation, NR Electric Co., Ltd., Avionic Instruments, LLC, Siemens Aktiengesellschaft, Kgs Electronics, Power Systems & Controls, Inc., and Sinepower, among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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