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. These are basically used to convert the input supply frequency from one level to the desired frequency, as per the requirement and the specification of the equipment or machinery.
Browse 74 tables and 42 figures spread through 223 Pages and in-depth TOC on "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"
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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.
The study also includes profiling of key market players, including ABB Ltd. (Switzerland), Danfoss A/S (Denmark), General Electric Company (U.S.), and Siemens AG (Germany). Other key players that offer frequency converters at different output levels, and also provide services for various end-users worldwide include Magnus Power (U.K.), Sinepower (Portugal), Aplab Ltd. (India), Power System & Control (Virginia), and Piller GmbH (Germany).
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Global Frequency Converters Market was dominated by Europe with a share of about 42% in 2014. It is estimated to grow at a CAGR of 8.0% from 2015 to 2020. Asia-Pacific is expected to be the fastest growing market, at a CAGR of 11.3% during the forecast period. Increasing expenditure in several industrial infrastructure and stringent government regulations is expected to increase demand of frequency converters, and drive the market in the Asia-Pacific region.