Frequency Converter Market Overview:

Market Research Future (MRFR) published a report on the Frequency Converter Market with a prediction for the forecast period of 2022 to 2030.

The global frequency converter market is expected to witness significant growth in the coming years, driven by the increasing demand for renewable energy sources and the growing need for power quality and energy efficiency. Frequency converters play a crucial role in converting power from one frequency to another, enabling the integration of renewable energy sources into the grid and improving the overall efficiency of power transmission.

The growing industrial automation and control applications, especially in the manufacturing and process industries, are also spurring the demand for frequency converters. The Asia Pacific region is expected to emerge as a key market for frequency converter installations, driven by the region's increasing industrialization, urbanization, and electrification.

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Regional Analysis:

Asia Pacific and the Middle East Africa are expected to make changes for the global frequency converter market. This is due to the presence of emerging countries that are influencing the market. Europe has the maximum global frequency converter market share, where France, Germany, and the UK are contributing significantly. North America stands second in terms of valuation. 

Segmentation:

The global market report containing details of the frequency converter market has a study of segments by MRFR analysts that helps in understanding changes of nuances that can affect the market results. These segments are type and end user. Data collected from these segments would help players in forming strategies to maximize their profit during the forecast period. 

By type, the study of the global frequency converter market comprises static and rotary.

By end user, the report on the frequency converter market has been segmented into oil gas, aerospace defense, power energy, traction, process industry, and marine/ offshore. The growing demand for sustainable power sources is expected to bolster the hike in power energy sector. Various offshore activities to explore oil gas can change the dynamics for oil gas and marine/ offshore sectors.

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Industry News:

In August 2020, Ingeteam announced the commissioning of 50 GW of wind energy conversion equipment with wind turbines as its sales of wind energy converters and wind control cabinets are finding strong tailwinds. The company started paving ways in 1995 and it was the first manufacturer to launch DFIG converters, which is still the gold standard in the industry. This new commissioning would help the company retain its position at the top and it would also help the company to expand its frequency converter segment, which would bolster the global market for the frequency converters. 

In July 2020, Busch Vacuum Pumps and Systems declared that it had engaged Mink claw compressor technology to help the separation efficiency of sand reach the optimum level, along with the grease and oils for a sand trap at Poppenweiler’s wastewater treatment facility, a district of Ludwigsburg, Germany. The new compressor was installed without the need to make modifications to the geometry of the sand trap. The volume flow of this new machine can be adjusted with a frequency converter to make sure the adjustment is precise to boost the requirements in the existing sand trap.

These changes may inspire expansion for the market. However, the COVID-19 crisis has impacted the market dynamics, which might affect the outcome. 

Competitive Landscape:

The global market report on the frequency converter market relies on a proper discussion of players like Power Systems Controls Inc (USA), Danfoss (Denmark), Piller Group GmbH (Germany), ABB Ltd (Switzerland), Sinepower (Portugal), Siemens (Germany), General Electric Company (USA), Aplab Ltd. (India), and Magnus Power Pvt. Ltd. (India). MRFR includes these players and their latest proceedings to get a proper picture of how the market would fare in the coming years. This will help in a predictive assessment of the market.