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Global Frequency Converter Market Opportunity will Rise to US$ 31.15 Billion by 2023 | Ozone Market Reports

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Ozone Market Reports projects that the Frequency Converter market size will grow from USD 17.87 Billion in 2017 to USD 31.15 Billion by 2023, at an estimated CAGR of 9.7%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.

The frequency converter market is segmented on the basis of two types; first type is static frequency converter; it consists of components such as a rectifier, a DC bus or internal power storage battery, an inverter, and a control panel. Rectifiers and inverters are a combination of capacitor banks and semiconductor switches (such as GTO, power transistor, and IGBT,), along with diodes and control electronics. The other type is rotary frequency converter; it is robust in design and is mostly used in gas turbine power plants, offshore activities, and traction power supply. Although other industries use rotary frequency converters, they prefer static frequency converters for their compactness.Frequency converter is used in varied end-use industries depending on the frequency requirement of the equipment connected to the converter. The end-users of frequency converters, considered for study include aerospace & defense, power & energy, oil & gas, traction, process industry, marine/offshore, research & testing laboratories, and grid interconnections among others. Differences in electrical standards of mains electricity supply worldwide, international trading, and an increase in the demand for energy-efficient frequency converters are driving the market.

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By Market Players:
ABB Ltd. , General Electric Company , Siemens AG , Aplab Ltd. , Danfoss A/S , Magnus Power , Aelco , Georator Corporation , KGS Electronics , NR Electric , Piller GmbH , Avionic Instruments LLC , Power System & Control , Sinepower , , , , , ,

By Type:
Rotary, Static, , ,

By End-User:
Aerospace & Defense , Power & Energy , Process Industry , Traction , Oil & Gas

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The prime objective of this report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing. Deep researches and analysis were done during the preparation of the report. The readers will find this report very helpful in understanding the market in depth. The data and the information regarding the market are taken from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the industry experts. The facts and data are represented in the report using diagrams, graphs, pie charts, and other pictorial representations. This enhances the visual representation and also helps in understanding the facts much better.

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