Aug 23, 2019   SOURCE: BusinessWire

Global Frequency Converter Market Estimated to Generate a Value of US $29.7 Billion During the Forecast Period, 2019-2024 - ResearchAndMarkets.com

The "Frequency Converter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

The publisher expects the market to reach a value of US$ 29.7 Billion by 2024, registering a CAGR of 8.5% during 2019-2024.

The global frequency converter market was worth US$ 18.2 Billion in 2018. Frequency converters or frequency changers are electromechanical equipments that are used to convert alternating current (AC) of one frequency to another frequency. It is a power conversion device that transforms a fixed frequency and voltage sine-wave power or line power into a variable frequency and variable voltage output. They use a combination of semiconductors and diodes to facilitate proper frequency change. The key function is to manipulate the speed, torque and process temperature without using a separate controller and reduce the electric and mechanical stress on the equipment and its sub-components. It minimizes the maintenance costs of equipment and eliminates the need for additional throttle valves and dampers.

Rising industrial usage of frequency converters is one of the key factors driving their market growth. There is an increasing demand for efficient electric machinery and technologically advanced equipment in the developing countries. The development of high-speed rails that require frequency converters to control the speed of engines, pumps and fans are further catalyzing the growth of the market. Furthermore, the equipment is also being extensively used in the aerospace and defense industry where it is used for monitoring the activities of refinement axes. In the manufacturing sector, these converters are used to operate electrical machinery at varying speeds to enhance performance and overall productivity. Additionally, with the increasing trend of offshore wind power generation, the demand for the product has significantly grown. Moreover, product innovations such as the integration of advanced output filters that dampen the common mode currents and simultaneously change the phase-to-phase voltage into a sinusoidal signal are also contributing to the growth of the market.

Key Questions Answered in This Report:

How has the global frequency converter market performed so far and how will it perform in the coming years?

What are the key regional markets in the global frequency converter industry?

What is the breakup of the market based on the type?

What is the breakup of the market based on the end use industry?

What are the various stages in the value chain of the global frequency converter industry?

What are the key driving factors and challenges in the global frequency converter industry?

What is the structure of the global frequency converter industry and who are the key players?

What is the degree of competition in the global frequency converter industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

2.1 Objectives of the Study

2.2 Stakeholders

2.3 Data Sources

2.3.1 Primary Sources

2.3.2 Secondary Sources

2.4 Market Estimation

2.4.1 Bottom-Up Approach

2.4.2 Top-Down Approach

2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Frequency Converter Market

5.1 Market Overview

5.2 Market Performance

5.3 Market Breakup by Type

5.4 Market Breakup by Use Industry

5.5 Market Breakup by Region

5.6 Market Forecast

6 Market Breakup by Type

6.1 Static Frequency Converter

6.1.1 Market Trends

6.1.2 Market Forecast

6.2 Rotary Frequency Converter

7 Market Breakup by End Use Industry

7.1 Aerospace and Defense

7.1.1 Market Trends

7.1.2 Market Forecast

7.2 Power and Energy

7.3 Oil and Gas

7.4 Traction

7.5 Marine/Offshore

7.6 Process Industry

7.7 Others

8 Market Breakup by Region

8.1 Europe

8.1.1 Market Trends

8.1.2 Market Forecast

8.2 North America

8.3 Asia Pacific

8.4 Middle East and Africa

8.5 Latin America

9 SWOT Analysis

9.1 Overview

9.2 Strengths

9.3 Weaknesses

9.4 Opportunities

9.5 Threats

10 Value Chain Analysis

11 Porter's Five Forces Analysis

11.1 Overview

11.2 Bargaining Power of Buyers

11.3 Bargaining Power of Suppliers

11.4 Degree of Competition

11.5 Threat of New Entrants

11.6 Threat of Substitutes

12 Price Analysis

13 Competitive Landscape

13.1 Market Structure

13.2 Key Players

13.3 Profiles of Key Players

13.3.1 ABB Ltd

13.3.2 General Electric Company

13.3.3 Aplab

13.3.4 Siemens

13.3.5 Danfoss

13.3.6 Magnus Power

13.3.7 Georator Corporation

13.3.8 Aelco

13.3.9 Piller

13.3.10 NR Electric

13.3.11 KGS Electronics

13.3.12 Avionic Instruments

13.3.13 Power System & Control

13.3.14 Sinepower

For more information about this report visit https://www.researchandmarkets.com/r/58ypby