Dublin, April 16, 2021 (GLOBE NEWSWIRE) -- The "Frequency Converter Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global frequency converter market by revenue is expected to grow at a CAGR of 5% during 2020-2026.
The market is expected to grow due to the growth in industrial production, technological advancements, urbanization, and industries' expansion. Static frequency converters are expected to witness the highest revenue share by product type, driving the market growth. The market is expected to grow at a stable rate in the short term due to industrial development restrictions; however, the market is anticipated to grow during the forecast period backed by industrial and economic development across the globe. Emerging markets such as APAC and Latin America are expected to witness the highest growth during the forecast period due to or increased investments by developed countries, favorable government policies, and FDIs, and shifting focus toward domestic manufacturing. Automation, robotization, energy conservation, and decarbonization trends are expected to boost frequency converters' demand.
The following factors are likely to contribute to the growth of the frequency converter market during the forecast period:
- The rise in Offshore Wind Electricity Generation Capacity
- High Demand for Automotive Applications
- Development of High-Speed Rails
- Increasing Demand for Water and Wastewater Treatment Plants
The study considers the frequency converter market's present scenario and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Frequency Converter Market Segmentation
The global frequency converter market research report includes a detailed segmentation by product type, sales channel, end-user, geography. Static frequency converters are likely to grow at a CAGR of over 5% due to high-frequency stability and output voltage. These devices deliver the required power under fixed conditions in manufacturing units and commercial applications, which are increasing their demand. These machines have low installation costs, and they do not require any heavy machinery and careful alignment. They occupy less space and generate low noise than mechanical converters. Rotary frequency converters (RFC), on the other hand, are observing high application in several end-user segments, including aerospace & defense, rail & hydro facilities, sensitive electronics lab and research centers, process automation, and manufacturing lines. RFCs provide 100% electrical isolation at high-frequency conversions along with vertical and horizontal configurations, thereby observing the demand across the globe. They are highly reliable and can produce high starting surge current for short periods, making them ideal for motor loads. However, they require regular maintenance and have a conversion efficiency of less than 85%.
Direct sales of frequency converters are expected to reach over $22 billion by 2026. Strategic partnerships between vendors and OEMs and vendors and system integrators reduce operational costs. OEMs and system integrators are key contributors to the overall value chain of the frequency converter market. However, new entrants in the market are expected to rely on indirect sales channels, which, in turn, is expected to decrease the usage of direct sales channels. Indirect sale channels include third-party purchases through distributors and dealers. A lack of awareness of brands, variety, and price factors drive customers to opt for indirect sales channels. Although indirect networks do not incur any distribution infrastructure, the price of frequency converters increases via indirect sales channels; hence, they are preferred.
The metal & mining industry generated the highest demand for frequency converters owing to the expansion of mining activities in China, Australia, Brazil, India, the US, and the Middle East. Advances in technology strongly support the growth of the industry; however, due to the COVID-19 pandemic, the demand for metals has become highly uncertain. The metals and mining industry growth is highly unpredictable in the short term; however, it is expected to witness significant growth in the long run. Pumps, conveyors, compressors, fans, and positioning & synchronizations are the major applications of frequency converters in the food and beverage industry. To maintain and boost productivity to satisfy the increasing customer demands for food products, the F&B industry relies heavily on several processing equipment and conveyance systems. Hence, frequency converters are likely to grow in the food industry.
Key Questions Answered
1. What is the frequency converter market size and growth rate during the forecast period?
2. What is the impact of the COVID-19 pandemic on the frequency converter market?
3. What are market opportunities and trends enabling the frequency converter market growth?
4. Which end-user segments are likely to generate the largest revenue during the forecast period?
5. What is the growth of the APAC frequency converter market during the forecast period?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.1 Currency Conversion
5.2 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Risk & Challenge Analysis
7.3 Impact Of COVID-19
8 Market Opportunities & Trends
8.1 Rise in Offshore Wind Electricity Generation Capacity
8.2 Increased Demand from Automotive Industry
8.3 Development of High-Speed Rails
9 Market Growth Enablers
9.1 Increasing Infrastructural Growth in Middle East
9.2 Low Operational Cost
9.3 Increasing Demand for Water & Wastewater Treatment Plants
10 Market Restraints
10.1 Increasing Trade Hostilities Between US And China
10.2 Disruptions In Construction Sector Due to COVID-19
10.3 Volatility in Oil & Gas Industry
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
12 Product
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Static
12.4 Rotary
13 Sales Channel
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Direct
13.4 Indirect
14 Power Output
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 5-40 kW
14.4 < 4 KW
14.5 41-200 KW
14.6 201-600 KW
14.7 >600 KW
15 End-User
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Metal & Mining
15.4 F&B
15.5 Aerospace & Defence
15.6 Marine
15.7 HVAC
15.8 CHEMICALS
15.9 Oil & Gas
15.10 Water & Wastewater Industry
15.11 Pharmaceutical
15.12 Power Generation
15.13 Packaging
15.14 Textile
15.15 Cement
15.16 Paper & Pulp
15.17 Rubber & Plastic
15.18 Forestry & Woodwork
15.19 Other Industries
16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
17 APAC
17.1 Market Overview
17.2 Market Size & Forecast
17.3 End-User
17.4 Sales Channel
17.5 Key Countries
18 Europe
18.1 Market Overview
18.2 Market Size & Forecast
18.3 End-User
18.4 Sales Channel
18.5 Key Countries
19 North America
19.1 Market Overview
19.2 Market Size & Forecast
19.3 End-User
19.4 Sales Channel
19.5 Key Countries
20 Latin America
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Sales Channel
20.4 End-User
20.5 Key Countries
21 Middle East & Africa
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Sales Channel
21.4 End-User
21.5 Key Countries
22 Competitive Landscape
22.1 Competition Overview
23 Key Company Profiles
23.1 ABB
23.2 APLAB
23.3 BOSCH
23.4 DANFOSS
23.5 SIEMENS
24 Other Prominent Vendors
24.1 Avish Aviation Equipment
24.2 AELCO
24.3 Avionic Instruments
24.4 Georator
24.5 JEMA
24.6 KGS ELECTRONICS
24.7 MAGNUS POWER
24.8 MAK CONTROLS AND SYSTEMS
24.9 NOVA ELECTRIC
24.10 NR ELECTRIC
24.11 PILLER
24.12 Power System & Control
24.13 Sinepower
24.14 Sojitech
24.15 Westek Electronics
25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations
26 Quantitative Summary
26.1 Market by Geography
26.2 Product
26.3 Power Output
26.4 Sales Channel
26.5 End-User
27 APAC
27.1 Sales Channel
27.2 End-User
28 Europe
28.1 Sales Channel
28.2 End-Users
29 North America
29.1 Sales Channel
29.2 End-Users
30 Latin America
30.1 Sales Channel
30.2 End-Users
31 Middle East & Africa
31.1 Sales Channel
31.2 End-Users
32 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/9i5ix7