Product Code: GVR-4-68040-387-5
Frequency Converter Market Size & Trends
The global frequency converter market size was estimated at USD 24.18 billion in 2023 and is expected to grow at a CAGR of 9.4% from 2024 to 2030. The market is experiencing increased demand due to several key factors. One significant driver is the emphasis on energy efficiency. Frequency converters, or variable frequency drives, adjust the speed of electric motors to align with operational needs, leading to reduced energy consumption and lower operational costs. This aligns with broader goals of minimizing energy use and operational expenses.
Additionally, Infrastructure development also plays a role in the growing demand for frequency converters. Projects involving water treatment facilities, HVAC systems, and transportation networks rely on these devices to enhance operational efficiency and maintain system performance. The expansion of infrastructure projects contributes to the increasing requirement for frequency converters across various sectors. Moreover, the growth of industrial automation is another key factor driving demand. As industries increasingly adopt automated processes, frequency converters play a crucial role in regulating motor speeds and ensuring the seamless operation of these systems. Their ability to enhance process efficiency and performance makes them a vital component in contemporary manufacturing setups.
Recent advancements in the market highlight several key technology trends. One notable development is the integration of frequency converters with Internet of Things (IoT) technology and Industry 4.0 frameworks. This integration allows for real-time monitoring and remote control of systems, as well as predictive maintenance capabilities. These features contribute to improved operational efficiency and reduced downtime by enabling more proactive management of equipment. Additionally, frequency converters are increasingly featuring advanced connectivity options. Support for various communication protocols, such as Ethernet, Profibus, and Modbus, is enhancing their ability to integrate with other industrial systems. This improved connectivity allows for more flexible and adaptable system architectures.
However, the market encounters several notable restraints that can affect its growth and adoption. One significant restraint is the high initial cost associated with these devices. The expense of purchasing and installing advanced frequency converters can be substantial, which may deter businesses, particularly smaller enterprises, from making investments. This high upfront cost can be a major barrier to widespread adoption. Additionally, the complexity involved in integrating frequency converters into existing systems also presents a challenge. This process can be intricate and requires specialized knowledge for proper configuration and maintenance. Companies lacking this expertise may face difficulties during integration, potentially leading to increased costs and longer implementation times.
Global Frequency Converter Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global frequency converter market report based on type, phase, end use, and region.
- Type Outlook (Revenue, USD Million, 2017 - 2030)
- Static
- Rotary
- Phase Outlook (Revenue, USD Million, 2017 - 2030)
- Single Phase
- Three Phase
- End Use Outlook (Revenue, USD Million, 2017 - 2030)
- Aerospace & Defense
- Power & Energy
- Process Industry
- Oil & Gas
- HVAC
- Others
- Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
U.S.
Canada
Mexico
U.K.
Germany
France
China
Japan
India
South Korea
Australia
Brazil
- Middle East and Africa (MEA)
KSA
UAE
South Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Landscape Outlook
Chapter 3. Frequency Converter Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.3.3. Industry Opportunities
- 3.4. Frequency Converter Market Analysis Tools
- 3.4.1. Porter's Five Forces Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
Chapter 4. Frequency Converter Market: Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Frequency Converter Market: Type Movement Analysis, 2023 & 2030 (USD Million)
- 4.3. Static
- 4.3.1. Static Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.4. Rotary
- 4.4.1. Rotary Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 5. Frequency Converter Market: Phase Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Frequency Converter Market: Phase Movement Analysis, 2023 & 2030 (USD Million)
- 5.3. Single Phase
- 5.3.1. Single Phase Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.4. Three Phase
- 5.4.1. Three Phase Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 6. Frequency Converter Market: End Use Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Frequency Converter Market: End Use Movement Analysis, 2023 & 2030 (USD Million)
- 6.3. Aerospace & Defense
- 6.3.1. Aerospace & Defense Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.4. Power & Energy
- 6.4.1. Power & Energy Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.5. Process Industry
- 6.5.1. Process Industry Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.6. Oil & Gas
- 6.6.1. Oil & Gas Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.7. HVAC
- 6.7.1. HVAC Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.8. Others
- 6.8.1. Others Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 7. Frequency Converter Market: Regional Estimates & Trend Analysis
- 7.1. Frequency Converter Market Share, by Region, 2023 & 2030, USD Million
- 7.2. North America
- 7.2.1. North America Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.2. North America Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.2.3. North America Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.2.4. North America Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.2.5. U.S.
- 7.2.5.1. U.S. Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.5.2. U.S. Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.2.5.3. U.S. Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.2.5.4. U.S. Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.2.6. Canada
- 7.2.6.1. Canada Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.6.2. Canada Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.2.6.3. Canada Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.2.6.4. Canada Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.2.7. Mexico
- 7.2.7.1. Mexico Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.7.2. Mexico Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.2.7.3. Mexico Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.2.7.4. Mexico Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Europe Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.2. Europe Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.3.3. Europe Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.3.4. Europe Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.3.5. U.K.
- 7.3.5.1. U.K. Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.5.2. U.K. Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.3.5.3. U.K. Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.3.5.4. U.K. Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.3.6. Germany
- 7.3.6.1. Germany Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.6.2. Germany Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.3.6.3. Germany Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.3.6.4. Germany Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.3.7. France
- 7.3.7.1. France Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.7.2. France Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.3.7.3. France Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.3.7.4. France Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.2. Asia Pacific Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.4.3. Asia Pacific Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.4.4. Asia Pacific Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4.5. China
- 7.4.5.1. China Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.5.2. China Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.4.5.3. China Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.4.5.4. China Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4.6. Japan
- 7.4.6.1. Japan Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.6.2. Japan Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.4.6.3. Japan Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.4.6.4. Japan Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4.7. India
- 7.4.7.1. India Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.7.2. India Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.4.7.3. India Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4.8. South Korea
- 7.4.8.1. South Korea Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.8.2. South Korea Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.4.8.3. South Korea Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.4.8.4. South Korea Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4.9. Australia
- 7.4.9.1. Australia Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.9.2. Australia Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.4.9.3. Australia Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.4.9.4. Australia Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.5. Latin America
- 7.5.1. Latin America Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.5.2. Latin America Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.5.3. Latin America Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.5.4. Latin America Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.5.5. Brazil
- 7.5.5.1. Brazil Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.5.5.2. Brazil Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.5.5.3. Brazil Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.5.5.4. Brazil Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.6. Middle East and Africa (MEA)
- 7.6.1. MEA Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.2. MEA Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.6.3. MEA Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.6.4. MEA Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.6.5. KSA
- 7.6.5.1. KSA Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.5.2. KSA Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.6.5.3. KSA Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.6.5.4. KSA Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.6.6. UAE
- 7.6.6.1. UAE Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.6.2. UAE Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.6.6.3. UAE Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.6.6.4. UAE Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.6.7. South Africa
- 7.6.7.1. South Africa Frequency Converter Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.7.2. South Africa Frequency Converter Market Estimates and Forecasts, by Type, 2017 - 2030 (USD Million)
- 7.6.7.3. South Africa Frequency Converter Market Estimates and Forecasts, by Phase, 2017 - 2030 (USD Million)
- 7.6.7.4. South Africa Frequency Converter Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Balers Analysis by Key Market Companies
- 8.2. Company Categorization
- 8.3. Company Market Positioning
- 8.4. Company Market Share Analysis
- 8.5. Strategy Mapping
- 8.5.1. Expansion
- 8.5.2. Mergers & Acquisition
- 8.5.3. Partnerships & Collaborations
- 8.5.4. New Product Launches
- 8.5.5. Research and Development
- 8.6. Company Profiles
- 8.6.1. NR Electric
- 8.6.1.1. Company Overview
- 8.6.1.2. Financial Performance
- 8.6.1.3. Product Benchmarking
- 8.6.1.4. Recent Developments
- 8.6.2. Georator Corporation
- 8.6.2.1. Company Overview
- 8.6.2.2. Financial Performance
- 8.6.2.3. Product Benchmarking
- 8.6.2.4. Recent Developments
- 8.6.3. APLAB Ltd
- 8.6.3.1. Company Overview
- 8.6.3.2. Financial Performance
- 8.6.3.3. Product Benchmarking
- 8.6.3.4. Recent Developments
- 8.6.4. ABB Ltd
- 8.6.4.1. Company Overview
- 8.6.4.2. Financial Performance
- 8.6.4.3. Product Benchmarking
- 8.6.4.4. Recent Developments
- 8.6.5. Danfoss
- 8.6.5.1. Company Overview
- 8.6.5.2. Financial Performance
- 8.6.5.3. Product Benchmarking
- 8.6.5.4. Recent Developments
- 8.6.6. Siemens
- 8.6.6.1. Company Overview
- 8.6.6.2. Financial Performance
- 8.6.6.3. Product Benchmarking
- 8.6.6.4. Recent Developments
- 8.6.7. KGS Electronics
- 8.6.7.1. Company Overview
- 8.6.7.2. Financial Performance
- 8.6.7.3. Product Benchmarking
- 8.6.7.4. Recent Developments
- 8.6.8. Aelco
- 8.6.8.1. Company Overview
- 8.6.8.2. Financial Performance
- 8.6.8.3. Product Benchmarking
- 8.6.8.4. Recent Developments
- 8.6.9. General Electric Company
- 8.6.9.1. Company Overview
- 8.6.9.2. Financial Performance
- 8.6.9.3. Product Benchmarking
- 8.6.9.4. Recent Developments
- 8.6.10. Magnus Power
- 8.6.10.1. Company Overview
- 8.6.10.2. Financial Performance
- 8.6.10.3. Product Benchmarking
- 8.6.10.4. Recent Developments