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Marine Variable Frequency Drive (VFD) Market to Garner USD 1192.2 Million by 2028 at 5.1% CAGR – Premium Report by The Market Reports

Variable Frequency Drive (VFD) is a type of adjustable-speed drive used in electro-mechanical drive systems to control AC motor speed and torque by varying motor input frequency and voltage.

Due to the COVID-19 pandemic, the global Marine Variable Frequency Drive (VFD) market size is estimated to be worth US$ 885.6 million in 2022 and is forecast to a readjusted size of US$ 1192.2 million by 2028 with a CAGR of 5.1% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, AC Drive accounting for % of the Marine Variable Frequency Drive (VFD) global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Marine Pump segment is altered to an % CAGR throughout this forecast period.

Asia Pacific is estimated to be the largest market from 2019 to 2024. The growth of this region can be attributed to the strong economic growth and supportive government policies for the shipbuilding industry. China, South Korea, and Japan are among the fastest growing countries in Asia Pacific.

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

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The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Segment by Type

  • AC Drive
  • DC Drive

Segment by Application

  • Marine Pump
  • Marine Fan
  • Marine Compressor
  • Marine Propulsion/Thruster
  • Marine Crane & Hoist

By Company

  • Danfoss
  • ABB
  • Rockwell Automation
  • Siemens
  • CG Power and IndUStrial Solutions
  • Mitsubishi Electric
  • WEG
  • Invertek Drives
  • Eaton
  • GE
  • Yaskawa
  • Parker Hannifin
  • Beard Marine Group

Production by Region

  • North America
  • Europe
  • China

Consumption by Region

  • North America (United States, Canada)
  • Europe (Germany, France, U.K., Italy, Russia)
  • Asia-Pacific (China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia)
  • Latin America (Mexico, Brazil, Argentina)
  • Middle East & Africa (Turkey, Saudi Arabia, UAE)

 

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