Jordan Frequency Converter Market (2022-2028) | Forecast, Size, Trends, Outlook, Revenue, Share, Analysis, Value, Segmentation, Industry & COVID-19 IMPACT

Jordan Frequency Converter Market Synopsis

The Jordan Frequency Converter market is estimate to reach new growth in the years to come. The major drivers for the growth of the frequency converter market in Jordan are the growing demand from the power sector and the increasing adoption of renewable energy sources.

Jordan is a small, oil-importing country with an economy that is highly dependent on foreign assistance. The country has been working to reduce its reliance on imported energy and has made significant progress in recent years in developing its renewable energy resources. Solar photovoltaics (PV) is the main source of renewable energy in Jordan.

The government has set ambitious targets for the development of renewable energy, including a target to increase the share of renewables in total primary energy consumption. These targets are expected to drive further growth in the Jordan frequency converter market over the forecast period. 

In recent years, there has been a trend towards larger capacity frequency converters. This is due to the increasing demand for electric power from industry and commerce. In addition, advances in technology have led to the development of more efficient frequency converters that are able to handle larger loads.

According to 6Wresearch, the Jordan Frequency Converter Market size is expected to grow during 2022-2028. The Jordan frequency converter market is expected to continue to grow in the coming years as the demand for electric power increases. In addition, the government's initiatives to reduce dependence on fossil fuels and promote sustainable development are also contributing to market growth.

Jordan is a key player in the global frequency converter market. The country has been witnessing a rapid economic growth, which has led to an increased demand for reliable and efficient power solutions. This, in turn, has fuelled the growth of the frequency converter market in Jordan.

COVID-19 impact on Jordan Frequency Converter Market

The global spread of COVID-19 pandemic had a significant impact on the growth of Jordan Frequency Converter Market since there was a huge decrease in the industrial activities around the world. Since the situation is now under control, the industrial activities started their operation and the Jordan Frequency Converter Market is evolving again. 

Market Analysis by Type

On the basis of type, rotary frequency system is dominating the market and it will remain the fastest-growing segment. Rotary frequency system is growing since it has capabilities to meet the demand of the new generation. 

Market Analysis by Application

On the basis of application, aerospace and defense segment evolved smoothly. It will remain the fastest-growing segment. The growth of aerospace and defense segment is growing the demand of frequency converter in Jordan. 

Competitive Landscape

Some of the key players operating in the Jordan frequency converter market are ABB Ltd., Siemens AG, Schneider Electric SE, Eaton Corporation PLC, Delta Electronics Inc., General Electric Company, Danfoss A/S, and Hitachi Ltd. 

Impact Analysis of Drivers and Restraints on the Jordan Frequency Converter Market 

The major drivers for the growth of this market are the development of renewable energy projects, expansion of existing power plants, and continuous investments in transmission & distribution infrastructure. However, the unfavourable political scenario and stringent government regulations are restraining the growth of this market to some extent.

The Jordan frequency converter market is expected to grow significantly in the coming years owing to the development of renewable energy projects in the country. The Government of Jordan has been investing heavily in the development of renewable energy projects such as wind and solar power plants. These investments are anticipated to create a huge demand for frequency converters in Jordan over the next few years. Additionally, with the expansion of existing power plants and continuous investments in transmission & distribution infrastructure, there is a growing need for efficient frequency converters that can help reduce losses and improve overall efficiency. 

Regulations in the Jordan Frequency Converter Market: Historical and Forecasted 

In Jordan, the manufacturing sector is the largest contributor to the country’s GDP, followed by the service sector. The country’s economic growth is driven by foreign investments, privatization of state-owned enterprises, and an expansionary fiscal policy. The government of Jordan has been investing in various infrastructure projects, which is anticipated to create opportunities for the frequency converter market in Jordan.

Frequency converters are used in a wide range of applications such as renewable energy, transportation, defence, power generation, and others. In Jordan, renewable energy is one of the major application areas for frequency converters. The country has many wind farms and solar photovoltaic (PV) power plants. Frequency converters are used in these plants to control the speed of generators and motors.

The Jordanian government has taken various initiatives to promote renewable energy in the country. The government has also launched a feed-in tariff program under which it purchases electricity from independent power producers at fixed prices. These factors are expected to boost the demand for frequency converters

Existence of Substitutes in the Jordan Frequency Converter Market

The Jordan frequency converter market is characterized by the presence of substitutes. Products such as generators and motor-driven systems can perform the same function as frequency converters, albeit at a higher cost. In addition, there are a number of companies manufacturing frequency converters in Jordan, which provides customers with a wide range of choices.

The demand for frequency converters in Jordan is mainly driven by the growing industrial sector in the country. The increasing demand for electricity from industries is leading to an increase in demand for frequency converters as they help regulate voltage and prevent power fluctuations. Additionally, the growing construction industry in Jordan is also fuelling the demand for frequency converters as they are widely used in construction projects.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2018 to 2021.
• Base Year: 2021.
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Jordan Frequency Converter Market Outlook
• Market Size of Jordan Frequency Converter Market, 2021
• Forecast of Jordan Frequency Converter Market, 2028
• Historical Data and Forecast of Jordan Frequency Converter Revenues & Volume for the Period 2018 - 2028
• Jordan Frequency Converter Market Trend Evolution
• Jordan Frequency Converter Market Drivers and Challenges
• Jordan Frequency Converter Price Trends
• Jordan Frequency Converter Porter's Five Forces
• Jordan Frequency Converter Industry Life Cycle
• Historical Data and Forecast of Jordan Frequency Converter Market Revenues & Volume By Type for the Period 2018 - 2028
• Historical Data and Forecast of Jordan Frequency Converter Market Revenues & Volume By Rotary for the Period 2018 - 2028
• Historical Data and Forecast of Jordan Frequency Converter Market Revenues & Volume By Static for the Period 2018 - 2028
• Historical Data and Forecast of Jordan Frequency Converter Market Revenues & Volume By Application for the Period 2018 - 2028
• Historical Data and Forecast of Jordan Frequency Converter Market Revenues & Volume By Aerospace & Defense for the Period 2018 - 2028
• Historical Data and Forecast of Jordan Frequency Converter Market Revenues & Volume By Power & Energy for the Period 2018 - 2028
• Historical Data and Forecast of Jordan Frequency Converter Market Revenues & Volume By Process Industry for the Period 2018 - 2028
• Historical Data and Forecast of Jordan Frequency Converter Market Revenues & Volume By Traction for the Period 2018 - 2028
• Historical Data and Forecast of Jordan Frequency Converter Market Revenues & Volume By Oil & Gas for the Period 2018 - 2028
• Historical Data and Forecast of Jordan Frequency Converter Market Revenues & Volume By Marine/Offshore for the Period 2018 - 2028
• Historical Data and Forecast of Jordan Frequency Converter Market Revenues & Volume By Others for the Period 2018 - 2028
• Jordan Frequency Converter Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• Jordan Frequency Converter Top Companies Market Share
• Jordan Frequency Converter Competitive Benchmarking By Technical and Operational Parameters
• Jordan Frequency Converter Company Profiles
• Jordan Frequency Converter Key Strategic Recommendations

Markets Covered

The report offers a broad study of the subsequent market segments:

By Type

• Rotary
• Static

By Application

• Aerospace & Defense
• Power & Energy
• Process Industry
• Traction
• Oil & Gas
• Marine/Offshore
• Others

Jordan Frequency Converter Market: FAQs