Marine Variable Frequency Drive (VFD) Market by Type (AC, DC, and Servo), End-Users (Industrial, Infrastructure, Oil & Gas, and Power Generation), Application (Pumps, Fans, Compressors, and Conveyors), Power Range, Voltage, and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Marine Variable Frequency Drive (VFD) Market Overview
The Marine Variable Frequency Drive (VFD) Market size is projected to reach a CAGR of 9.56% from 2022 to 2028.
Marine variable frequency drive (VFD) is cost efficient electrical equipment that is utilized to adjust the speed and torque of a VFD electric motor. It is utilized in an assortment of marine functions for example pumps, fans, compressors, propulsion, cranes, and hoists. There are two categories of marine VFD’s, AC drive and DC drive.
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Growing regulations towards energy efficiency, upgradation & modernization of aging infrastructure for safe & secure electrical distribution systems, and increasing rate of industrialization and urbanization are some of the factors that have supported long-term expansion for Marine Variable Frequency Drive (VFD) Market.
Marine Variable Frequency Drive (VFD) Market Regional Analysis
Asia Pacific is estimated to be the largest market. Countries such as China, India, Japan, and South Korea are among the major countries considered as the main manufacturing hub for variable frequency drives.
Marine Variable Frequency Drive (VFD) Market Competitive Landscape
Key Players
• ABB
• Rockwell Automation, Inc.
• Danfoss
• Siemens
• Mitsubishi Electric Corporation
• WEG
• Invertek Drives Ltd.
• Eaton
• GENERAL ELECTRIC
• Yaskawa Electric Corporation
• PARKER HANNIFIN CORP
• Schneider Electric
• Hitachi Ltd
• Fujifilm India
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Marine Variable Frequency Drive (VFD) Market Recent Developments
• In December 2020, Rockwell Automation re-launched its Kinetix 5100 servo drive for a wide range of applications, including packaging, converting, print & web, and machine and assembly with the voltage availability of 480V.
• In January 2019, ABB launched a series of ACS880 industrial drives and ACH580 Ultra-Low Harmonic (ULH) HVAC drives, which are used in many industries and applications to tackle harmonic issues.
Reasons to Acquire in the Marine Variable Frequency Drive (VFD) Market
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Marine Variable Frequency Drive (VFD) Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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