Global Frequency Converter Market (2021 to 2026) - Increasing Demand for Water & Wastewater Treatment Plants is Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 15, 2021--
The “Frequency Converter Market - Global Outlook and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The global frequency converter market by revenue is expected to grow at a CAGR of 5% during 2020-2026.
The market is expected to grow due to the growth in industrial production, technological advancements, urbanization, and industries’ expansion. Static frequency converters are expected to witness the highest revenue share by product type, driving the market growth. The market is expected to grow at a stable rate in the short term due to industrial development restrictions; however, the market is anticipated to grow during the forecast period backed by industrial and economic development across the globe. Emerging markets such as APAC and Latin America are expected to witness the highest growth during the forecast period due to or increased investments by developed countries, favorable government policies, and FDIs, and shifting focus toward domestic manufacturing. Automation, robotization, energy conservation, and decarbonization trends are expected to boost frequency converters’ demand.
The following factors are likely to contribute to the growth of the frequency converter market during the forecast period:
- The rise in Offshore Wind Electricity Generation Capacity
- High Demand for Automotive Applications
- Development of High-Speed Rails
- Increasing Demand for Water and Wastewater Treatment Plants
The study considers the frequency converter market’s present scenario and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Key Questions Answered
1. What is the frequency converter market size and growth rate during the forecast period?
2. What is the impact of the COVID-19 pandemic on the frequency converter market?
3. What are market opportunities and trends enabling the frequency converter market growth?
4. Which end-user segments are likely to generate the largest revenue during the forecast period?
5. What is the growth of the APAC frequency converter market during the forecast period?
Opportunities & Trends
- Rise in Offshore Wind Electricity Generation Capacity
- Increased Demand from Automotive Industry
- Development of High-Speed Rails
- Increasing Infrastructural Growth in Middle East
- Low Operational Cost
- Increasing Demand for Water & Wastewater Treatment Plants
- Increasing Trade Hostilities Between US And China
- Disruptions In Construction Sector Due to COVID-19
- Volatility in Oil & Gas Industry
Other Prominent Vendors
- Avish Aviation Equipment
- Avionic Instruments
- KGS Electronics
- Magnus Power
- MAK Controls
- Nova Electric
- NR Electric
- Power System & Control
- Westek Electronics
For more information about this report visit https://www.researchandmarkets.com/r/oveyko
View source version on businesswire.com:https://www.businesswire.com/news/home/20210415005587/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: TECHNOLOGY HARDWARE
SOURCE: Research and Markets
Copyright Business Wire 2021.
PUB: 04/15/2021 08:29 AM/DISC: 04/15/2021 08:29 AM