The global frequency converter market size reached USD 25.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 44.4 Billion by 2033, exhibiting a growth rate (CAGR) of 5.89% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 25.8 Billion |
Market Forecast in 2033
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USD 44.4 Billion |
Market Growth Rate 2025-2033 | 5.89% |
Frequency converters or frequency changers are electromechanical equipments that are used to convert alternating current (AC) of one frequency to another frequency. It is a power conversion device that transforms a fixed frequency and voltage sine-wave power or line power into a variable frequency and variable voltage output. They use a combination of semiconductors and diodes to facilitate proper frequency change. The key function is to manipulate the speed, torque and process temperature without using a separate controller and reduce the electric and mechanical stress on the equipment and its sub-components. It minimizes the maintenance costs of equipment and eliminates the need for additional throttle valves and dampers.
Rising industrial usage of frequency converters is one of the key factors driving their market growth. There is an increasing demand for efficient electric machinery and technologically advanced equipment in the developing countries. The development of high-speed rails that require frequency converters to control the speed of engines, pumps and fans are further catalyzing the growth of the market. Furthermore, the equipment is also being extensively used in the aerospace and defense industry where it is used for monitoring the activities of refinement axes. In the manufacturing sector, these converters are used to operate electrical machinery at varying speeds to enhance performance and overall productivity. Additionally, with the increasing trend of offshore wind power generation, the demand for the product has significantly grown. Moreover, product innovations such as the integration of advanced output filters that dampen the common mode currents and simultaneously change the phase-to-phase voltage into a sinusoidal signal are also contributing to the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global frequency converter market report, along with forecasts at the global and regional level from 2025-2033. Our report has categorized the market based on type and end use industry.
Breakup by Type:
Breakup by End Use Industry:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being ABB Asea Brown Boveri Ltd., General Electric (GE) Company, Aplab Limited, Siemens AG, Danfoss A/S, Magnus Power Private Limited, Georator Corporation, Advance Electronic Labs., Corp., Piller Group (Langley Holdings PLC), NR Electric Co. Ltd., KGS Electronics, Inc., Avionic Instruments LLC, Power System & Controls, Inc., and Shenzhen Sinepower Technology Co., Ltd.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Type, End Use Industry, Region |
Region Covered | Europe, North America, Asia Pacific, Latin America, Middle East and Africa |
Companies Covered | ABB Asea Brown Boveri Ltd., General Electric (GE) Company, Aplab Limited, Siemens AG, Danfoss A/S, Magnus Power Private Limited, Georator Corporation, Advance Electronic Labs., Corp., Piller Group (Langley Holdings PLC), NR Electric Co. Ltd., KGS Electronics, Inc., Avionic Instruments LLC, Power System & Controls, Inc., and Shenzhen Sinepower Technology Co., Ltd. |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global frequency converter market was valued at USD 25.8 Billion in 2024.
We expect the global frequency converter market to exhibit a CAGR of 5.89% during 2025-2033.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for frequency converters.
The rising demand for frequency converter across the aerospace and defense industry for monitoring the activities of refinement axes is primarily driving the global frequency converter market.
Based on the type, the global frequency converter market has been segregated into static frequency converter and rotary frequency converter. Currently, static frequency converter holds the largest market share.
Based on the end use industry, the global frequency converter market can be bifurcated into aerospace and defense, power and energy, oil and gas, traction, marine/offshore, process industry, and others. Among these, the aerospace and defense industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global frequency converter market include ABB Asea Brown Boveri Ltd., General Electric (GE) Company, Aplab Limited, Siemens AG, Danfoss A/S, Magnus Power Private Limited, Georator Corporation, Advance Electronic Labs., Corp., Piller Group (Langley Holdings PLC), NR Electric Co. Ltd., KGS Electronics, Inc., Avionic Instruments LLC, Power System & Controls, Inc., and Shenzhen Sinepower Technology Co., Ltd.