Frequency Converter Market | Rising Investments from Numerous Investor Firms to Add Value to Growth Trajectory

 A notable development of end use industries in textile, paints and coatings etc surged the demand for frequency converter to operate the industries at variable frequencies which is expected to derive the growth of frequency converter market during the forecast period. 

Frequency converters are electronic devices used in various applications including generation, transmission, distribution and use of electrical energy. They can control frequency, power, and voltage and improve efficiency of the equipment or machines such as motors, pumps, fans, and others. They offer advantages such as reduction in maintenance cost, increase lifetime of machines, improve processes, enable utilization of equipment imported from other countries, and others. They are used in various end use industries including aerospace & defense, power & energy, oil & gas, marine, and others.

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Significant development of the end-use industries such as textile, automotive, paint & coatings, solar, pharmaceutical, chemicals, and healthcare, has fueled the demand for frequency converters to operate the machineries & equipment in industries at variable frequencies from above mentioned industries, and is thereby expected to drive the growth of the frequency converter market during the forecast period. In addition, increase in demand for frequency converters from developing economies such as India, China, and Japan, owing to presence of manufacturing facilities in the region fuels the growth of the market, globally. However, fluctuation in cost of raw materials & components and different electricity standards in different countries are the key factors that are expected to hamper the growth of the global frequency converter market in the upcoming years.

Depending on type, the rotary frequency converter segment held the highest market share of about 68.4% in 2021, and is expected to maintain its dominance during the frequency converter market forecast period. This is attributed to rise in demand for rotary frequency converters from applications including aerospace & defense, weapon systems, manufacturing facilities, rail & hydro facilities and.

In addition, rise in adoption of rotary frequency converters in large applications with power rating 10 kVA or more is further anticipated to boost the demand for rotary frequency converters in the coming years.

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On the basis of end user, the aerospace & defense segment held the largest share in 2021, in terms of revenue, and is expected to maintain its dominance during the forecast period. This is attributed to rapid growth of the aerospace & defense industry across the globe for national security. In addition, frequency converters are increasingly used in applications including aviation and weapon systems, signal systems, and others, which is expected to fuel the growth of the market during the forecast period.

On the basis of region, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the dominant share in 2021, and is anticipated to maintain this dominance in the frequency converter market trend during the forecast period. This is attributed to presence of key players and a huge consumer base in the region. In addition, rapid expansion of the renewable energy sector, rise in investment toward building & construction of modern grid infrastructure, and increase in R&D efforts in the region are further anticipated to fuel the growth of the market in the upcoming years.

The global frequency converter market analysis covers in-depth information about the major frequency converter industry participants. The key players operating and profiled in the report include ABB, Ltd., Avionic Instruments, LLC, Danfoss A/S, Georator Corporation, General Electric, KGS Electronics, NR Electric Co., Ltd, Power Systems & Controls, Inc., Siemens, and Langley Holdings Plc.

Other players operating in the value chain of the global frequency converter market are Bosch Rexroth, Wacker Neuson, Piller Group GmbH, ENAG, and others.

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Key findings:

• In 2021, the rotary frequency converter type segment accounted for about 68.4% of the share in the global frequency converter market, and is expected to maintain its dominance till the end of the forecast period.
• Rotary frequency converter end user segment is expected to grow at the fastest rate, registering a CAGR of 6.1%, throughout the forecast period.
• In 2021, the aerospace & defense end user segment accounted for 30.7% frequency converter market share in the year 2021, and is anticipated to grow at a rate of 6.7% in terms of revenue, while increasing its share in the global frequency converter market.
• In 2020, Asia-Pacific region dominated the global frequency converter market with more than 39.6% share, in terms of revenue.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Research Report on Gas Turbine Service Market to Discover Industrial Insights

 Rapidly growing modernization and industrialization across the globe have led to increase in the demand for power hence leading the demand for gas turbine in the oil & gas industry and power generation industry. The increase in the population and growing awareness regarding the negative impact of the utilization of coal based power generation plants especially in North America and Europe region have boosted the demand for the gas turbine service market due to the shift from coal fired power plants to gas fired power plants.

A gas turbine is a combustion engine at the heart of a power plant that can convert natural gas or other liquid fuels to mechanical energy. This energy then drives a generator that produces the electrical energy that moves along power lines to homes and businesses. The continuous utilization of gas turbine in the power generation and oil gas industry causes wear & tear of certain parts which lead to the demand for the maintenance and repair to prolong the life of the equipment. The above mentioned is one of the major factor driving the growth of gas turbine service market.

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The demand for gas turbines is rising in the power generation industry with new emission control regulations. The industrial sector, including chemicals, metals, and manufacturing industries, is a major contributor to the escalating demand for industrial gas turbines. The production of natural gas, which is required for the functioning of gas turbines, is growing at a significant rate. For instance, in 2019, according to IEA Natural Gas Information, natural gas production hit a new high of 4,088 billion cubic meters. Gas turbines are less expensive, environmentally friendly, reliable, and efficient than engines based on other fuel sources, which is propelling their demand. According to Eurostat, natural gas accounts for 36% of the EU energy consumption High use in applications such as heating, electricity generation, and marine vehicle functioning is bolstering the demand for natural gas turbines, which inturn boost the demand for the gas turbine service market growth.

The electric power, manufacturing, and marine transportation industries, among others, in developing countries are highly dependent on fossil fuels. Rise in population and the lack of supporting infrastructure for electric technologies are the major factors supporting the growth of gas turbine industry. The presence of alternative power generation sources which are eco-friendly to the environment compared to gas-fired power systems will hamper the development of the market.

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The global gas turbine service market forecast is segmented on the basis of by turbine type, turbine capacity, service type, sales channel, end use and region.

On the basis of turbine type, it is segmented into heavy duty, industrial, and aeroderivative. On the basis of turbine capacity, the market is segmented into less than 100 MW, 100-200 MW, and more than 200 MW. On the basis of service type, it is segmented into maintenance & repair, overhaul, spare parts supply. On the basis of sales channel, the market is bifurcated into OEM and aftermarket. In addition, on the basis of end use, the global gas turbine service market is segmented into power generation, oil & gas, and others.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest gas turbine service market share, followed by Asia-Pacific and Europe.

The major companies profiled in this report include Siemens AG, General Electric, Mitsubishi Heavy Industries, Ansaldo Energia, MAN Energy Solutions, Kawasaki Heavy Industries, Baker Hughes Company, Caterpillar, Opra Turbines, MTU Aero Engines AG, EthosEnergy, PROENERGY, MJB International LLC, Sulzer, and Centrax Gas Turbines. Due to rapidly development of industrialisation, modernization has led to the development of demand for power from heavy manufacturing industries, and light manufacturing industries which in-turn has fuelled the demand for gas turbine. The presence of the demand for the gas turbine and on-going Upgradation of various thermal power plants in the developing countries is driving the demand for gas turbine service market. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the gas fired power generation systems has led to attain key developments in the global gas turbine service market trends.

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Key findings of the study

• North America would exhibit CAGR of 4.7% during 2022-2031.
• As per global gas turbine service market analysis, by turbine type, the heavy duty segment accounted more than ½ market share in 2021.
• By turbine capacity, more than 200 MW possess market share of 42.5% in 2021.
• By service type, spare parts supply and maintenance & repair segment in total contributed market share of 88.4% in 2021.
• By sales channel, aftermarket segment is expected to possess a CAGR of 5.5% from 2022 to 2031
• By end use, power generation segment has largest market share in 2021.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
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Cuttings Re-injection Services Market | Rising Investments from Numerous Investor Firms to Add Value to Growth Trajectory

 The cuttings re-injection services market witnessed decreased demand owing to halted upstream activities i.e., (exploration, and drilling activities). Furthermore, the shift from fossil fuel to clean energy is expected to challenge the market during the forecast period.

Cuttings re-injection is total containment or zero discharge drilling waste disposal process. It includes three significant components high-pressure injection pump, a cuttings transfer system, and a clarification unit. In addition, some of the other optional equipment used in the CRI process are a grinding mill, slurry holding tank, and sizing shaker. Cuttings re-injection (CRI) services comprise project regulatory support, technical-engineering support, data management services for CRI disposal operations, daily technical-engineering support, process monitoring, and reporting during active CRI operations, and project documentation.

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Factors propelling the cutting re-injection services market growth are its advantages such as its potential to discard other wastes that would have to be taken to shore for disposal, allowing utilization of less expensive drilling fluid, no need for offshore transportation, cuttings can be injected if pre-treated, fewer chances of ground and surface water contamination, and removal of seafloor effect. However, some of the disadvantages hindering the market growth are an increase in air pollution because of large power needs, a rise in the requirement of large equipment and labor, and others.

The cuttings re-injection services market is segmented into type and application. Based on the type the market is categorized into dedicated injection and annular injection. On the basis of application, the market is bifurcated into on-shore and off-shore. Region-wise, the cutting re-injection services market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The cutting re-injection services market share is analyzed for all segments and countries.

On the basis of type, the annular injection segment garnered an 83.4% share in 2020. Based on the application, the onshore segment is expected to grow at a CAGR of 1.6% during the forecast period. The CRI process is common to both onshore and offshore operations. But the CRI process is easily manageable on an onshore site because of the availability of space.

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On the basis of region, the Asia-Pacific is expected to grow at a CAGR of 4.8% during the forecast period. China has a strong presence in the South China Sea. Chinese oil & gas companies have come across gas fields with reserves of around 300 billion tons along with oil fields reserves of around 200 million tons of oil.

Based on the region, Europe garnered a market share of 26.6% and is expected to grow at a CAGR of 2.8% during the forecast period. The UK government has announced to drill of oil & gas wells in the North Sea. The government has granted permission to drill well as a part of a cautious transformation away from fossil fuels and protect jobs and the economy.

Some of the key players operating in the cuttings re-injection services industry are Baker Hughes Company, NOV Inc., Advantek, Augean PLC, GN Solid Control, Haliburton, Schlumberger, PPLI, Weatherford, and Terralog Technologies.

Other players in the cuttings re-injection services market are Aker Solutions, Archer Limited, KCA Deutag, Odfjell Drilling, Drill Cuttings Disposal Company/ Apollo Resources, Step Oiltools, Derrick Corporation, Calder Limited, Scomi, and others.

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Key findings of the study

- The report outlines the current cuttings re-injection services market trends and future scenario of the cuttings re-injection services market from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
- The cuttings re-injection services market size is provided in terms of revenue.
- On the basis of type, the dedicated injection; segment gained a 16.6% share in 2020 in terms of revenue.
- On the basis of application, the off-shore segment garnered a market share of 81.1% in 2020 in terms of revenue.
- On the basis of region, the North American region garnered a market share of 19.8% in 2020 in terms of revenue.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Analytics LLP
+1 503-894-6022