Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Frequency Converter Market size is expected to reach $28.7 billion by 2028, rising at a market growth of 6.1% CAGR during the forecast period.
The Static segment is showcasing a CAGR of 8% during (2022 - 2028). When supplying loads that need AC power at a specific frequency that is not offered by the grid, static frequency converters are employed. Under the necessary circumstances, the frequency converter can deliver that power using an intermediary DC transition. It changes into the power source with the necessary voltage and frequency.
The Aerospace & Defense segment is leading the Global Frequency Converter Market by End User in 2021 thereby, achieving a market value of $11.2 billion by 2028. This is a result of the military aircraft's employment of frequency converters in power electronics applications. In addition to this, the aerospace industry is expanding across the globe which would contribute to the growth of the frequency converter market.
The Asia Pacific market dominated the Global Frequency Converter Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10.7 billion by 2028. The North America market is exhibiting a CAGR of 5.6% during (2022 - 2028). Additionally, The Europe market would showcase a CAGR of 5.4% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Siemens AG, ABB Group, General Electric (GE) Co., The Danfoss Group, Aplab Limited, NR Electric Co., Ltd., Magnus Power Pvt. Ltd., KGS Electronics, Georator Corporation, and Advance Electronic Labs., Corp.
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