The latest report by IMARC Group, titled “United States Frequency Converter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The United States frequency converter market size reached US$ 5.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.59% during 2023-2028.
A frequency converter is an essential component in various industrial and commercial applications, serving as a critical device to control the frequency and voltage of electrical power. It ensures the efficient and reliable operation of electrical equipment. It is developed to convert the input power, typically alternating current (AC), from one frequency to another, enabling the adaptability of machinery and equipment to several power sources and operational requirements. Additionally, it serves as the bridge that connects electrical systems with varying frequency standards, enhancing the functionality and adaptability of electrical appliances and machinery. Nowadays, frequency converters find extensive use across several sectors, including manufacturing, energy, and transportation across the region.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/united-states-frequency-converter-market/requestsample
United States Frequency Converter Market Trends and Drivers:
The United States frequency converter market is primarily driven by the growing infrastructure development projects, including the expansion of transportation networks, data centers, and commercial buildings. In addition, these projects require improved electrical systems that can adapt to varying voltage and frequency standards, resulting in the adoption of frequency converters to ensure the seamless operation of essential infrastructure components such as elevators, HVAC systems, and escalators, contributing to the reliability and functionality of these facilities. As the United States continues to invest in infrastructure upgrades and expansions, the market for frequency converters is driving steady growth. Moreover, continuous technological advancements lead to more efficient and reliable devices with several innovations, including the development of digital frequency converters that offer precise and rapid frequency adjustments, enhanced diagnostic capabilities, and improved compatibility with modern control systems, representing another major growth-inducing factor. Also, advancements in semiconductor technology are contributing to the miniaturization of frequency converters, making them more compact and suitable for several applications, which is augmenting the market growth. Along with this, the integration of smart features and IoT connectivity further enhances the appeal of frequency converters for businesses seeking to optimize their operations, further propelling market growth. Furthermore, the extensive product use for the integration of renewable energy sources into the national power grid to reduce its carbon footprint and transition toward cleaner energy sources such as wind and solar power are creating a positive market outlook.
The report has segmented the market into the following categories:
Breakup by Type:
- Static Frequency Converter
- Rotary Frequency Converter
Breakup by End Use Industry:
- Aerospace and Defense
- Power and Energy
- Oil and Gas
- Process Industry
Breakup by Region:
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Follow us on Twitter: @imarcglobal