(MENAFN- Ameliorate Digital Consultancy) 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. Market Overview Marine variable frequency drives (VFDs) are cost-effective pieces of electrical equipment used to change the speed and torque of VFD electric motors. Uses include pumps, fans, compressors, propulsion units, cranes, and hoists. AC drives and DC drives are the two kinds of marine VFDs. Key benefits of marine VFDs include saving energy and controlling speed, improving the efficiency of motor drive units, and making it easy to install so that network communication can be used. These are all things that are expected to help the marine VFD market grow during the forecast period. no see. The marine VFD market will continue to grow in the future as more people want to save energy and the shipbuilding industry grows. Ships all over the world are getting marine propulsion services from well-known companies in developed countries.
Estimates and forecasts of the Marine Variable Frequency Drive (VFD) market size are given in terms of sales volume (K units) and revenue (million USD), with data from 2017 to 2030 and 2022 as the base year. This report breaks down in detail the global Marine Variable Frequency Drive (VFD) market. Regional market sizes are also given for products by type, by use, and by player. When figuring out how big the market was, we thought about how COVID-19 and other global crises would affect it.
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Based on types, the Marine Variable Frequency Drive (VFD) Market-Industry is segmented into:
Based on application, the Marine Variable Frequency Drive (VFD) Market-Industry is segmented into:
Marine Pump Marine Fan Marine Compressor Marine Propulsion/Thruster Marine Crane & Hoist With Shaft Generator Without Shaft Generator
By Voltage
Low Voltage Medium Voltage High Voltage
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Industry Developments Astilleros Gondán, a Spanish shipbuilder, gave ABB a contract in April 2021 to provide an all-electric power solution for a fleet of fast 40 m urban passenger ferries that run on Lisbon's Tagus River.
MacGregor has released a new fully electric heavy lift crane (HCE) in December 2021 as part of its efforts to make more environmentally friendly products and solutions.
Cochin Shipyard chose Siemens to put in place advanced marine solutions for India's first fleet of 23 boats with electric propulsion and battery-integrated technology. This will happen in December 2020.
The Royal Canadian Navy received the first of six Arctic and Offshore Patrol Ships (AOPS) in August 2020. It was called HMCS Harry DeWolf (RCN). For the Arctic Offshore Patrol Ship (AOPS) Harry DeWolf class vessels, GE's Power Conversion business designed and provided the high-voltage electric power system (HV) and electric propulsion drivetrains, which had special features for working in multi-year ice.
By Region: Geographically, the global Marine Variable Frequency Drive (VFD) market has been looked at in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA).
China is expected to grow at a CAGR of 11%, while the US market is estimated to be worth USD 209.1 million. In the United States, the marine variable frequency drive (VFD) market is expected to be worth USD 209.1 million in 2020. China, which has the second largest economy in the world, is expected to have a market size of US$ 266.6 million by 2027, based on CAGR. 10.9% for the period from 2020 to 2027. Japan and Canada are also important markets, and they are expected to grow by 3.8% and 5.5%, respectively, from 2020 to 2027. Germany is expected to grow by about 4.8% CAGR in Europe.
Regional Marine Variable Frequency Drive (VFD) Market-Industry coverage (Regional Status, Demand Forecast, Country Trends, etc.):
North America, Europe, China, Japan, Southeast Asia, India. North America (USA, Canada, and Mexico). Europe (Germany, France, UK, Russia and, Italy). Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).
Key segments covered in Marine Variable Frequency Drive (VFD) Market-Industry include: Marine Variable Frequency Drive (VFD) Market-Industry Growth Drivers and Barriers. Market Trends, Market Opportunities, Porter's Five Forces Analysis. Market Overview, Industry Development, Market Maturity, Value Chain Analysis. Regional and Country Level Analysis. Trends and Forecasts for Market Segments. Market Analysis and Various Recommendations. Key market forces.
Report Customization: This report will be customized to your needs for additional data up to 5 companies or 5 countries or nearly 40 analyst hours.
Key Market Participants in the Marine Variable Frequency Drive (VFD) Market-Industry: 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.
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