Rapid Increase in Industrial Application to Fuel Growth of Frequency Converter Market
The biggest advantage of frequency converters is energy saving, can be soft started, which can prolong its service life, simplification of control system, can reduce mechanical wear and tear. Frequency converters, also called frequency changers, convert 50Hz and 60Hz to 400Hz power. These are machines that convert power from one frequency to another frequency. Either by means of double conversion static frequency converters or by using a motor generator set called a rotary frequency converter. One of the main factors propelling frequency converter market expansion is their increasing industrial use. In the developing world, there is an increasing demand for high-tech machinery and effective electric machinery. According to World Bank estimates, 47% of high-tech manufacturing, value is added in the United States.
According to a study, China claimed more than 770 billion passenger kilometres on its network in 2020, dominating the high-speed rail world in terms of passenger numbers. France, Germany, and Spain boasted between 16 and 60 billion passenger kilometres in that same year, placing European nations quite well in the rankings. Another driving factor for frequency converter market expansion is the development of high-speed railways, which need frequency converters to regulate the speed of fans, pumps, and engines. Alternating current (AC) from one frequency to another is converted using electromechanical devices known as frequency converters or frequency changers. It is a power conversion device that converts sine-wave power or line power with fixed frequency and voltage into an output with variable frequency and voltage. To provide proper frequency change, they combine semiconductors and diodes. The primary purpose is to control speed, torque, and process temperature without the use of a separate controller and lessen the electrical and mechanical strain on the machinery and its component parts. It reduces equipment maintenance expenses and gets rid of the requirement for extra throttle valves, and dampers.
Expansion in Aerospace & Defence to Grow Market for Frequency Converter
Aerospace and defence industry is expected to be the fastest-growing segment of the frequency converter market over the forecast period. The aerospace and defence segment is expanding at the fastest rate due to the expansion of the industry's defense systems, infrastructure, and other applications. During aircraft maintenance, frequency changers lessen the need for auxiliary power units. In order to power the aircraft at the desired frequency, the terrestrial power unit is connected via a frequency converter, which accelerates the market expansion of the frequency converters industry. A 50 Hz or 60 Hz to 400 Hz frequency converter is needed for use in the ground control unit that controls the plane while it is on the ground because most planes regularly employ 400 Hz control. The converters can also be used by carriers to provide in-flight divider current to passengers for use with tablets, and other devices. Frequency converters are a fundamental component of double-backed acceptance generators, which are used in modern multi-megawatt class wind turbines, in renewable energy systems.
Europe Continues to Surge Ahead in Global Frequency Converter Market
Europe has been the largest user of frequency converter and is expected to grow at the fastest rate throughout the forecast period. The market for frequency converters has expanded as a result of rising demand from a number of industries, including aerospace, defense, oil, and gas. Additionally, the market for frequency converters is anticipated to benefit from growth in infrastructure, industrialisation, and modernisation in several countries, including Western Europe, and Eastern Europe, throughout the anticipated period. Additionally, it is anticipated that several nations, such as the UK, and Germany, will experience quite fast growth in this industry. Increased awareness of the need to reduce air and noise pollution, particularly in the aerospace, defense, and offshore end-use industries, is the main factor propelling the market's expansion. In emerging nations, there is a rising demand for high-tech machinery and effective electric machinery. The expansion of frequency converter market is additionally being stimulated by the development of high-speed rails that need frequency converters to regulate the speed of fans, pumps, and engines. The apparatus is also widely employed in the aerospace and defence sectors, where it keeps track of the activities of refining axes.
These converters operate electrical equipment at various speeds in the manufacturing sector to improve performance and overall productivity. Additionally, the market growth has been accelerated by the rising trend of offshore wind power generation. Additionally, product advancements that incorporate cutting-edge output filters that concurrently convert phase-to-phase voltage into a sinusoidal signal and dampen common mode currents also contribute to the expansion of frequency converter market. The market has been hit by rising raw material costs, as well as trade duties and requirements, which is stifling the sector's expansion.
Global Frequency Converter Market: Competitive Landscape
In May 2022 The needs of the developing electric aircraft market have been taken into account by Astronics Corporation (Nasdaq: ATRO), a top supplier of cutting-edge technology for the global aerospace, defense, and other mission-critical industries. For smaller rotary and fixed-wing aircraft in both the commercial and military markets, the company's CorePower product line provides cutting-edge flight-critical electrical power generation, conversion, distribution, and control. For more than 50 years, Astronics has been developing and producing extremely dependable and efficient airplane electrical power systems. On the other hand, in May 2022, A new series of universal up/down converters will be available as standalone devices or as a whole True5GTM chipset with beamformers and synthesizers, according to Mobix Labs Inc., a developer of connectivity solutions for wired high bandwidth cable networks and wireless mmWave 5G networks. The high-performance, ultra-compact frequency converters for 5G mmWave and C-band applications are designed in 28 nm Bulk-CMOS, enabling easy integration and scalability as well as better efficiency through superior thermal performance.
A few of the players in the frequency converter market include Mobix Lab Inc (United States), Piller Group GmbH (Germany), Power Systems & Controls Inc (USA), Aplab Ltd. (India), General Electric Company (USA), Danfoss (Denmark), Sinepower (Portugal), Siemens (Germany) Magnus Power Pvt. Ltd. (India), and ABB Ltd (Switzerland).
Global Frequency Converter Market is Segmented as Below:
Key Elements Included In The Study: Global Frequency Converter Market
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