Frequency Converter Market to Rear Excessive Growth during 2031
The global Frequency Converter Market size was valued at $22.3 billion in 2021 and is estimated to reach $39.7 billion by 2031, growing at a CAGR of 6% from 2022 to 2031. 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 the efficiency of the equipment or machines such as motors, pumps, fans, and others. They offer advantages such as reduction in maintenance cost, increased lifetime of machines, improved processes, enabled 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. Get a PDF brochure for Industrial Insights and Business Intelligence @ https://www.alliedmarketresearch.com/request-sample/998 Significant development of the end-use industries such ...