Marine VFD Market

Marine VFD Market worth $1.6 billion by 2030

According to a research report "Marine VFD Market by End User Type (Marine Ships, and Offshore Platforms), Application ( Pump, Propulsion, Fan, Compressor, Crane & Hoist, Winch, HVAC, Steering, Scrubber, Shaft Generator, Power Electronics), & Region - Global Forecast to 2030" published by MarketsandMarkets, the Marine VFD market is projected to reach USD 1.6 billion by 2030 from an estimated USD 1.1 billion in 2023, at a CAGR of 5.0% during the forecast period.

Browse 223 market data Tables and 57 Figures spread through 237 Pages and in-depth TOC on "Marine VFD Market by End User Type (Marine Ships, and Offshore Platforms), Application ( Pump, Propulsion, Fan, Compressor, Crane & Hoist, Winch, HVAC, Steering, Scrubber, Shaft Generator, Power Electronics), & Region - Global Forecast to 2030"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/marine-vfd-market-85395523.html

Marine VFDs are essential because They help reduce power consumption, prevent damage, and enhance safety. VFDs also allow remote tracking of ship VFDs, regulate speed and torque, and provide fuel savings. The majority of propeller applications use VFDs, which can boost energy efficiency.

Marine Ships, by end-user, is expected to grow by the largest segment during the forecast period.

Based on end users, the Marine VFD market has been split into Marine Ships and Offshore Platforms. The Marine Ships segment is anticipated to be the largest during the forecast period. The Marine Ships segment is growing in the Marine VFD market due to the increased emphasis on meeting energy efficiency targets and achieving environmental sustainability. VFDs aid vessels in meeting strict environmental regulations by reducing emissions, aligning with the industry’s sustainability objectives. They ensure precise and dynamic control, enhancing vessel maneuverability and operational flexibility while contributing to overall safety and reliability by reducing the risk of accidents and equipment failures.

The steering segment, by application segment, is expected to grow at the second-fastest during the forecast period.

This report segments the marine VFD market based on application into pump, propulsion, fan, compressor, crane and hoist, winch, HVAC, steering, scrubber, shaft generator, and power electronics. The steering segment is expected to be the second-fastest growing segment during the forecast period. The steering segment is growing as they are instrumental in governing the speed and control of AC electric motors responsible for driving critical steering components like azimuth thrusters or electric rudders. VFDs in marine steering systems are imperative to attain precise and responsive control over vessel direction, a paramount requirement for safe navigation and maintaining position in challenging maritime scenarios. VFDs offer dynamic, real-time adjustments, ensuring optimal steering responses, especially in situations demanding rapid course changes or precise vessel positioning

Asia Pacific is expected to be the largest region in the marine VFD market

Asia Pacific is expected to be the largest marine VFD market during the forecast period. The region's increasing focus on renewable energy, coupled with supportive government policies and incentives The adoption of VFDs is driven by a focus on renewable energy integration, environmental concerns, and offshore energy projects, all requiring advanced energy-efficient technologies. These large-scale projects contribute to the rapid expansion of the marine VFD market in the Asia Pacific, attracting investments, fostering innovation, and establishing the region as a key player in the global transition towards sustainable energy solutions.

Some of the major players in the marine VFD market are Siemens (Germany), ABB (Switzerland), Danfoss (Denmark), General Electric (US), and Rockwell Automation (US). The major strategies adopted by these players include sales contracts and agreements.

Don’t miss out on business opportunities in Marine VFD Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Marine VFD Market Size,  Share & Growth Report
Report Code
EP 7008
PR Published ON
10/3/2023
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Marine VFD Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home