Lewes, DE -- (SBWIRE) -- 07/01/2016 -- Report forecast the global frequency converter market to grow at a CAGR of 9.38% during the period 2016-2020.

Frequency converter is an instrument used to convert the frequency of input supply from one level to another to match the desired frequency as per the specification and requirement of a particular machinery or equipment. Its primary function is to feed the connected machinery with desired current frequency and voltage level. Frequency converters are used mainly in industrial applications to match the frequency of power supply with the frequency of any electrical equipment or machinery that is connected to the power supply.

The report covers the present scenario and the growth prospects of the global frequency converter market for 2016-2020. To calculate the market size, the report takes into demand for frequency converter generated from the application segments such as pumps, fans, compressors, and conveyors.

The market is divided into the following segments based on geography:
- APAC
- Europe
- North America
- ROW

According to the report, a key growth driver is the rise in power prices. The rise in electricity demand has been accompanied by a simultaneous rise in the prices of raw materials that are used by the power generation and distribution companies. This has put pressure on power producers and suppliers to raise electricity prices to maintain operations and earn profits. Therefore, electricity charges account for a substantial portion of consumers' monthly utility bills, requiring homeowners to minimize their energy to reduce costs. This objective can be achieved through the use of frequency converters.

Further, the report states that one challenge that could hinder market growth is the growing concern over quality of frequency converters.

Global Frequency Converter Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global frequency converter market: ABB, Danfoss, GE, Magnus Power, and Siemens.

Other Prominent Vendors in the market are: Aelco, Aplab, Avionic Instruments, Georator, NR Electric, Piller, Power System & Control, and Sinepower.

Market driver
- Rising power prices
- For a full, detailed list, view our report

Market challenge
- Growing concerns over quality
- For a full, detailed list, view our report

Market trend
- Rise in offshore wind electricity generation capacity
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 54 pages and 22 Exhibit "Global Frequency Convertor Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-frequency-convertor-market-2016-2020

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