Frequency Converter Market Size, Share & Industry Analysis, By Type (Static, Rotary), By Phase (Single-phase, Three-Phase), By End-user (Food and Beverage, Oil and Gas, Power Generation,Infrastructure, Agriculture, Mining, Others) and Regional Forecast, 2024-2032

Electricity is supplied at a constant frequency, depending on the region. North America supplies electricity at 60 Hz while the rest of the world supplies the electricity. Equipment, devices and systems are designed to run at a particular frequency. In some cases, the frequency of power supply has to be altered for maximum operating efficiency. In all such cases, a frequency converter is used. A frequency changer or frequency converter is an electronic or electromechanical device that converts alternating current (AC) of one frequency to alternating current of another frequency.    

Based on type, the frequency converter market can be segmented into static and rotary. A static frequency converter is changing fixed grid power through AC to DC to AC by inner electronic parts and components. The multifunctional inverter converts the mains (50 Hertz or 60 Hertz, 120V, 240V, 400V) through the conversion circuit. It transforms into the required voltage and frequency power source. Rotary frequency converters (Motor-Generators) convert incoming AC Power into rotary mechanical power (spinning motor), which transmits its rotary power to a generator, which converts its mechanical power into electric AC output power. Based on the end-user, the global frequency converter market can be segmented into food and beverage, oil and gas, power generation, infrastructure, agriculture, and mining. Frequency generators can be used with pumps, motors, compressors, etc. Frequency converters are used in modern electronic circuits for accurate timing and synchronization. Based on the phase, the global frequency converter market can be divided into single-phase and three-phase.  

Key Market Driver -

High electrical efficiency and development & modernization of electronic infrastructure.

Key Market Restraint -

Rising prices of raw material

The primary market driver for the global frequency converter market is the development and modernization of electronic infrastructure. High electrical efficiency is the need of the hour, and the use of frequency converter fulfills this requirement.

The critical market restraint for the global frequency converter market is the rising prices of raw material. Trade tariffs and duties have negatively influenced the frequency converter market.

Key Players Covered:

Some of the major companies that are present in the frequency converter market are GE, Georator Corporation, GoHz, Power Systems International, SEW Eurodrive, Power Systems & Controls, Jema Energy SA, Nova Electric Div. Technology Dynamics Inc., Piller Group GmbH, ENAG, Baumüller Nürnberg GmbH, Wacker Neuson, and Bosch Rexroth.

Regional Analysis:

The global frequency converter market has spread into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia-Pacific is expected to dominate the frequency converter market because of the rapid industrialization of countries like India, China, Bangladesh, Vietnam, etc. The growth of the manufacturing sector in Asia-Pacific is a big boost for the frequency converter market. The industrial sectors like food and beverage, oil and gas, power generation, etc. are growing at a fast rate. The expansion of industries has positively influenced the frequency converter market. Automation has been gaining traction in industrial and manufacturing sectors in the Asia-Pacific region and has spurred the frequency converter, which is widely used for timing and synchronization.

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The development of infrastructure due to rapid urbanization in Asia-Pacific has also helped the frequency converter market to grow. The use of elevators and escalators in commercial, residential, and industrial structures has spurred the frequency converter market. Europe and North America have an aggressive shift towards automated manufacturing and industrial activities. The automation initiatives by industries in North America and Europe have spurred the market.

Segmentation

Key Industry Developments

• In July 2018, GE Power was chosen by ANDRITZ and Dongfang Electric Machinery Co., Ltd. to provide electrical solutions for the Fengning pumped-storage hydroelectric plant located in the Hebei Province in China. During phase 2 of project GE’s Power Conversion business will provide the variable speed technology—constituting two variable speed MV7000 converters and one static frequency converter.


• In February 2019, Astronics Corporation announced the availability of the new CorePower® Frequency Converter Unit (FCU) which will be used in aerospace, defense, and other mission-critical industries.