Frequency converters are useful in distinctive industrial applications, to match the frequency of power supply with the frequency of any electrical equipment connected. Demand to run the electric machinery and equipment effectively and cost efficiently across diverse sectors is the primary reason behind a rise in the usage of frequency converters. Since more than a decade, frequency converters are being used in industries such as aerospace & defense, process industry, power & energy, oil & gas, marine/offshore, and traction among others.
Pune, India -- (SBWIRE) -- 09/20/2016 -- The report "Frequency Converter Market by Type (Static and Rotary), by End-User (Aerospace & Defense, Power & Energy, Process Industry, Traction, Oil & Gas, and Marine/Offshore), and by Region - Global Forecast and Trends to 2020" defines and segments the global frequency converter market with analysis and forecast of the market size. The frequency converter market is expected to grow from an estimated market size of USD 15.0 Billion in 2015 to USD 23.2 Billion by 2020, growing at a CAGR of 9.1%.
Browse 74 tables and 42 figures spread through 223 Pages and in-depth TOC on "Frequency Converter Market Global Forecast and Trends to 2020"
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Growth of frequency converter market is contributed by demand from developing economies, and need for efficient process systems. A major portion of the demand for frequency converters comes from aerospace & defense, traction, and process industry end-users in Europe, North America, and Asia-Pacific regions. Increasing demand across diverse sectors for process and equipment efficiency for enhanced output create the need for frequency converters.
Increasing requirements of frequency converter in oil & gas, power & energy, marine/offshore, and research & testing activities among others, is giving more scope for contracts of end-users with the manufacturers. The figure below shows the global frequency converter market share by region in 2014.
The report forecasts revenue of the global frequency converter market, which includes the key type of frequency converters with respect to main regions such as North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa. Frequency converter market is also analyzed on the basis of the end use industries which include aerospace & defense, process industry, power & energy, traction, oil & gas, and marine/offshore market.
Frequency converter market includes major players such as ABB Ltd. (Switzerland), Danfoss A/S (Denmark), General Electric Company (U.S.), Siemens AG (Germany), Magnus Power (U.K.), Sinepower (Portugal), Aplab Ltd. (India), Power System & Control (Virginia), and Piller GmbH (Germany).
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