Global Marine Variable Frequency Drive (VFD) Market-Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The global Marine Variable Frequency Drive (VFD) Market was valued at USD 767.6 Million in the year 2022, is projected to grow at a CAGR of 6.8% during the forecast period 2022 to 2030.
Marine Variable Frequency Drive (VFD) Market Overview:
Marine variable frequency drives (VFDs) are cost-effective electrical equipment used to regulate the speed and torque of VFD electric motors. Utilized in a variety of marine applications such as pumps, fans, compressors, propulsion units, cranes and hoists. There are two categories of marine VFDs: AC drives and DC drives. Key advantages of marine VFDs include energy savings combined with speed control, improved efficiency of motor drive units, and ease of installation to provide benefits of network communication, factors that are estimated to supplement the growth of the marine VFD market during the forecast period. no see. Growing demand for energy efficiency and the rise of the shipbuilding industry will further contribute to the growth of the marine VFD market in the future. Prominent manufacturers in developed countries are contracting and contracting to provide marine propulsion services for ships worldwide.
Marine Variable Frequency Drive (VFD) market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Marine Variable Frequency Drive (VFD) market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
- April 2021, ABB secured a contract from the Spanish shipbuilder Astilleros Gondán to supply an all-electric power solution for a fleet of fast 40 m urban passenger ferries operating on Lisbon’s Tagus River.
- December 2021, MacGregor has launched a new fully electrically driven heavy lift crane (HCE) to introduce more environmentally sustainable products and solutions.
- December 2020, Cochin Shipyard selected Siemens to implement advanced marine solutions for India’s first fleet of 23 boats equipped with electric propulsion and battery-integrated technology.
- In August 2020, the first of six Arctic and Offshore Patrol Ships (AOPS) – HMCS Harry DeWolf – were delivered to the Royal Canadian Navy (RCN). GE’s Power Conversion business was the designer and provider of the high-voltage electric power system (HV) and electric propulsion drivetrains, with specialist capability for operations in multi-year ice, for the Arctic Offshore Patrol Ship (AOPS) Harry DeWolf class vessels.
The Marine Variable Frequency Drive (VFD) market research report is categorized based on type, applications and region.
Market Key Players:
ABB (Switzerland), Siemens (Germany), Rockwell Automation (US), Danfoss (Denmark), CG Power (India), WEG (Brazil), Mitsubishi Electric Japan), Eaton (Ireland), Invertek Drives (UK), General Electric (US), Yaskawa (Japan), Parker Hannifin (US.), and others.
- AC Drive
- DC Drive
- Marine Pump
- Marine Fan
- Marine Compressor
- Marine Propulsion/Thruster
- Marine Crane & Hoist
- With Shaft Generator
- Without Shaft Generator
- Low Voltage
- Medium Voltage
- High Voltage
Geographically, the global Marine Variable Frequency Drive (VFD) market has been analysed in various regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).
The US market is estimated at USD 209.1 million and China is expected to grow at a CAGR of 11%. The marine variable frequency drive (VFD) market in the United States is estimated at USD 209.1 million in 2020. Following CAGR, China, the world's second largest economy, is projected to reach a projected market size of US$ 266.6 million by 2027. 10.9% for the 2020-2027 analysis period. Among other notable geographic markets are Japan and Canada, which are expected to grow at 3.8% and 5.5%, respectively, over the 2020-2027 period. Within Europe, Germany is expected to grow at approximately 4.8% CAGR.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Marine Variable Frequency Drive (VFD) Market report scope
Key Takeaways from this Marine Variable Frequency Drive (VFD) Report
- Estimate Marine Variable Frequency Drive (VFD) market potential through analysing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Marine Variable Frequency Drive (VFD) market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions
At what CAGR is the Marine Variable Frequency Drive (VFD) market projected to grow in the forecast period 2022 to 2030?
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Who are the top players in Marine Variable Frequency Drive (VFD) market?
Which application segment is expected to drive the growth of the Marine Variable Frequency Drive (VFD) market in the next 5 years?
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