Frequency converter or frequency is an electronic or electromechanical device that converts alternating current of one frequency to alternating current of another frequency. Frequency conversion may refer to different processes affecting frequency of physical phenomena, for example variable frequency drive is a frequency converter.
Demand for frequency converters is expected to rise in future due to automation of the automotive industry. The ongoing research and testing on autonomous vehicles also requires frequency converters, leading to a rise in their demand. Hybrid vehicles are equipped with frequency converters to manage the transmission of alternating current.
Frequency converters can be categorized based on type, component variation, number of phases, end users, vehicle type, and region.
Based on type, frequency converters can be categorized as static frequency converter and rotary frequency converter. Static frequency converter is a device which alters the frequency of the input signal according to input set point and consists of solid switching devices which act according to the input control signal. Static frequency converters have less installation cost and occupy lesser space. Rotary frequency converters were used for conversion of AC current into DC current before the advent of solid state power rectification and inverting. Rotary converters were made obsolete by the semiconductor rectifiers in the 1960s.
Frequency converters consist of rectifier, DC bus, and inverter. Rectifier and inverter are present in all the frequency converters whereas the DC bus is present only in high quality rectifiers. DC bus converter does not directly contribute to the variable frequency operation.
In terms of the number of phases, frequency converters can be categorized as single phase frequency converter and three phase frequency converter. In single phase frequency converter, the power transmission is in the form of single phase and is generally used in home appliances like refrigerators, washing machines, and hair dryers. In three phase frequency converters, the power transmission is in the form of three phase and each phase can constitute a single phase circuit with neutral point to provide electrical energy for users. Three phase frequency converters are cheaper than the single phase frequency converters.
On the basis of end users, frequency converter can be used at different places in automobiles such as charging the battery of the vehicle and for actuation of the vehicle components. To charge the battery of the vehicle, bi-directional DC-DC type frequency converter is used. To empower the vehicle components for their motion unidirectional DC frequency converter is used.
On the basis of vehicle type, frequency converter can be categorized as passenger vehicles and commercial vehicles. Passenger vehicles are further classified as hatchbacks, sedans, and multi utility vehicles. Commercial vehicles can be further categorized as light commercial vehicles and heavy duty commercial vehicles.
On the basis of geography, the frequency converter automotive market can be segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Due to increasing developments in the automotive industry, the frequency converter market is expected to expand in Asia Pacific at a significant pace. Currently, Europe dominates the global frequency converter market due to extensive investments in countries such as Germany, France, and the United Kingdom in the development of aerospace & defense, manufacturing, energy infrastructures, and marine/offshore. The second largest market across the globe is North America.
Key players of in the frequency converter market are Piller Group GmbH, ABB Ltd, Power Systems & Controls Inc., Danfoss, Aplab Ltd., General Electric Company, Sinepower, Siemens, and Magnus Power Pvt. Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.