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Pulished Date April, 2021
ID: 11434
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Frequency Converter market segmentation by Type (static frequency converter, rotary frequency converter) By End User (marine/ offshore, aerospace and defence, traction, power and energy and process industry, oil and gas, others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026.

Pulished: April, 2021
ID: 11434
Pages: 175

Frequency Converter Market Size, Trends & Growth (2021 - 2026)

A frequency converter is an electronic gadget, otherwise called an AC power supply, that converts fixed recurrence and voltage to variable recurrence and voltage. It is utilized to control the speed of the pump with a recurrence converter. The recurrence converter decreases mechanical and electrical pressure. 

The expanding interest for frequency converters in non-industrial nations and effective frameworks is driving the world market for recurrence converters. Today, the utilization of the gadget comes from enterprises, such as aviation and the defense and interaction industry. The demand for efficient devices in a variety of industries to improve performance is expected to create greater opportunities. Furthermore, these converters can minimize electrical and mechanical stress. The frequency converter plays a vital role in prolonging the service life of components in motors, pumps, and other equipment.

Recent Developments:

  • The new FC 100-F2 series of compact AC-AC drives from ABSOPULSE Electronics are designed for rugged industrial applications requiring universal AC input voltage and pure sine wave output voltage.
  • Low voltage converters for the control of drives in factories, plants, and machines.
  • Known as the “Green Mountain State,” Vermont generates significant amounts of its electricity from renewable energy sources and has the smallest carbon footprint in the country. To ensure it stays green, the Vermont Public Utilities Commission created Efficiency Vermont in 2000.
  • ABB, the leading group in power and automation technology, delivered the world's most powerful traction drive system to E.ON, the leading company in Germany. The converter station in the Datteln railway hub is capable of delivering up to 25% of the energy required by German railways.
  • Nova drives can help solve a chronic shortage of critical medical equipment needed for the COVID-19 coronavirus.

Drivers and Restraints of Frequency Converter Market:

Drivers: 

The increasing demand for drives in the defense, industrial automation, aviation, and oil and gas industries is a major factor that is expected to drive the growth of the global drive market. The increasing use of frequency converters in power generation plants and the modernization of infrastructure in the industrial sector are other factors that are supporting the growth of the market.

Restraints:

There are different electricity standards in various countries that could have a negative impact on market growth. However, the growing demand for electrical equipment is expected to create high-income opportunities for the main players in the target market.

Frequency Converter Market Segmentation:

By Type:

  • Rotary Frequency Converter
  • Static Frequency Converter

The frequency converter market is segmented on the basis of two types; the first type is a static frequency converter. It consists of components such as a rectifier, DC bus or internal energy storage battery, inverter, and control panel. Rectifiers and inverters are a combination of capacitor banks and semiconductor switches (such as GTO, power transistor, and IGBT), as well as diodes and control electronics. The other type is the rotary frequency converter. It has a rugged design and is primarily used in gas turbine power plants, offshore operations, and traction power. Although other industries use rotary drives, they prefer static drives because of their compact size.

By End-User:

  • Aerospace & Defense
  • Power & Energy
  • Oil & Gas
  • Marine/Offshore
  • Others

Its principal work is to supply the associated gear with the ideal current recurrence and voltage level. The development of aviation framework, guard components, and other simulation applications is driving the development of recurrence converters. Recurrence converters decrease dependence on helper power units while the airplane is under upkeep, as the ground power unit is associated through a recurrence converter to give power at the ideal recurrence for the airplane. The aviation and guard, cycle, and foothold businesses will be the quickest developing end clients in the drive market by 2020.

Frequency Converter Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden

Europe has a large share of the frequency converter market, followed by North America and Asia-Pacific. The growing demand from certain sectors, such as aerospace, defense, oil, gas, etc. has contributed to the growth of the frequency converter market. Furthermore, infrastructure growth, industrialization and modernization in some regions, such as Western Europe and Eastern Europe, are expected to improve the drive market during the forecast period. Furthermore, some countries such as the UK and Germany are expected to show comparatively high growth in this market.

  1. Asia Pacific
    1. China
    2. India
    3. Japan
  2. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  3. Middle East and Africa

a. Middle East

b. Africa

Key Players of Market:

Examples of some of the market participants in the frequency converters market identified across the value chain are Nova Electric, ABB Ltd, Danfoss Engineering Tomorrow, Siemens Ltd, Sinepower, Aelco, Aplab Limited, Avionic Instruments LLC Corporation, General Electric, Georator Corporation, KGS Electronics, Magnus Power Private Limited, NR Electric Co Ltd, Langley Holdings Plc, and Power Systems & Controls Inc.

IMPACT OF COVID-19 ON FREQUENCY CONVERTER MARKET:

Amid the COVID-19 crisis, the global drive market estimated at $ 20.2 billion in 2020 is expected to reach a revised size of $ 33.9 billion by 2027, with a CAGR of 7.7% during the 2020-2027 period.

Static, one of the segments analyzed in the report, is expected to register a CAGR of 7.5% and reach US $ 18.8 billion at the end of the analysis period. After an initial analysis of the business implications of the pandemic and its induced economic crisis, Rotary's segment growth is readjusted to a revised CAGR of 7.9% for the next 7-year period.

APAC represents the highest share of the world drive market and is expected to grow significantly over the forecast period. China is expected to dominate the APAC drive market share and is expected to account for approx. $ 3 billion by 2026. The increasing number of investments in fully automated industrial machinery and the year-on-year growth in government spending on aircraft and defense equipment in major economies are the main factors responsible for the growth of the industry market. In addition, rapid urbanization and increased industrialization in the APAC region are other important factors driving the demand for frequency converters in the region.

The COVID-19 pandemic outbreak has reduced growth in China from 6% in 2019 to 1.00% -1.50% by the end of 2020. Production at chemical manufacturing units in China decreased by more than 15% to 20% in 2020, which affected the demand for frequency converters in the chemical and petrochemical industry. In the post-COVID outlook, the global economy and output in end-user industries are likely to rebound significantly, driving demand for drives. Under the in-depth outbreak of COVID-19, this report explains the Static Drive market growth, market attributes, and market development of the Static Drive business, and segregates, as displayed by classification, application and the area of ​​use of static frequency converter.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Frequency Converter Market, By Type                  

                    6.1.1 Rotary Frequency Converter

                    6.1.2 Static Frequency Converter 

                    6.1.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.4 Y-o-Y Growth Rate Analysis         

                    6.1.5 Market Attractiveness Index         

          6.2 Frequency Converter Market, By Application                   

                    6.2.1 Aerospace & Defense         

                    6.2.2 Power & Energy        

                    6.2.3 Oil & Gas       

                    6.2.4 Marine/Offshore      

                    6.2.5 Others 

                    6.2.6 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.7 Y-o-Y Growth Rate Analysis         

                    6.2.8 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Type         

                    7.2.3 By Application

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Type         

                    7.3.3 By Application

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Type         

                    7.4.3 By Application

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Type         

                    7.5.3 By Application

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Type         

                    7.6.3 By Application

8. Key Player Analysis                           

          8.1 Nova Electric               

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 ABB Ltd            

          8.3 Danfoss Engineering Tomorrow                 

          8.4 Siemens Ltd               

          8.5 Sinepower                  

          8.6 Aelco               

          8.7 Aplab Limited             

          8.8 Avionic Instruments LLC Corporation                   

          8.9 General Electric           

          8.10 Georator Corporation          

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Frequency Converter Market By Region, From 2021-2026 ( USD Billion )
  2. Global Frequency Converter Market By Type, From 2021-2026 ( USD Billion )
  3. Global Rotary Frequency Converter Market By Region, From 2021-2026 ( USD Billion )
  4. Global Static Frequency Converter Market By Region, From 2021-2026 ( USD Billion )
  5. Global Frequency Converter Market By End-User, From 2021-2026 ( USD Billion )
  6. Global Aerospace & Defense Market By Region, From 2021-2026 ( USD Billion )
  7. Global Power & Energy Market By Region, From 2021-2026 ( USD Billion )
  8. Global Oil & Gas Market By Region, From 2021-2026 ( USD Billion )
  9. Global Marine/Offshore Market By Region, From 2021-2026 ( USD Billion )
  10. Global Others Market By Region, From 2021-2026 ( USD Billion )

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