Marine VFD Market

Marine VFD Market by Type (AC Drive, DC Drive), Voltage (Low Voltage (Up to 1 kV), Medium Voltage (Above 1 kV)), Application (Pump, Fan, Compressor, Propulsion / Thruster, Crane & Hoist) and Region - Global Forecast to 2024

Report Code: EP 7008 Apr, 2019, by marketsandmarkets.com

[103 Pages Report] The global marine VFD market is projected to reach USD 1,039 million by 2024 from an estimated USD 772 million in 2019, at a CAGR of 6.13% during the forecast period. This growth can be attributed to factors such as reduced energy cost, extended equipment life and reduced maintenance, and the growth of the shipbuilding industry.

Marine VFD Market

By type, the medium voltage segment of the marine VFD market is expected to grow at the highest CAGR during the forecast period

The report segments the marine VFD market, by type, into AC drive and DC drive. The DC drive segment is expected to grow at the highest CAGR during the forecast period. The main advantages of DC drives include excellent speed control, low cost for medium and high HP applications, and good speed regulation. All these factors are likely to drive the marine VFD market.

By application, the pump segment is expected to be the largest contributor during the forecast period

The marine VFD market, by application, is segmented into pump, fan, compressor, propulsion/thruster, and crane & hoist. The pumps used in marine vessels circulate fluids inside different machinery and systems for cooling, heating, and lubrication,  thus, consuming maximum energy during their operation. Hence, the pumps are installed with VFDs in order to increase energy efficiency, which is likely to impact the growth of the marine VFD market during the forecast period.

Marine VFD Market

Asia Pacific is expected to account for the largest market size during the 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 maritime industry in Japan, over the past few decades, has been the largest shipbuilding nation with products being built using advanced technologies. In South Korea, the government is trying to introduce FDI in the marine sector; this move has helped the Korean shipbuilding industry to attain the Electronic Control Unit (ECU) technology. All these initiatives are likely to boost the growth of the shipbuilding industry, and, as a result, the marine VFD market.

The major players in the global marine VFD market are ABB (Switzerland), GE (US), Eaton (Ireland), Rockwell Automation (US), Siemens (Germany), WEG (Brazil), Danfoss (Denmark), CG Power and Industrial Solutions (India), Mitsubishi Electric (Japan), Invertek Drives (UK), Yaskawa (Japan), and Parker Hannifin (US).  

Recent Developments

  • In February 2019, Yaskawa America launched the GA800 variable speed drive. It is available in 240 VAC 3-phase (1–150 HP) and 480 VAC 3-phase (1–600 HP) models.
  • In April 2018, Invertek Drives launched a new range of IP66 outdoor rated VFDs at Hannover Messe 2018, Germany. The Optidrive E3 IP66 drives is an ideal solution for external fans, pumps, marine, and HVAC equipment. The drive range has power outputs up to 22 kW and is designed to provide precise motor control and energy savings.
  • In June 2017, Mitsubishi Electric was awarded a contract by Sanssouci Star to provide FR-F800 inverter drives for the engine room HVAC system in its luxury Yacht.
  • In November 2016, ABB launched a new all-compatible DCS880 drive. The drive offers built-in safety functionality and is also enabled for compatibility with the Industrial Internet of Things (IIoT). The drive has many readymade application programs such as a control program dedicated for industrial, harbor, tower, and marine deck cranes.
  • In September 2016, GE Marine Solutions, a subsidiary of General Electric Company, signed a deal with Sembcorp Marine to supply electrical parts for a power and propulsion system, including 12 sets of 8 MW generators, 8 units of 5.5 MW propulsion motors, medium voltage switchboards, transformers, and the MV7000 drives.

Key Questions Addressed by the Report

  • The report identifies and addresses the key markets for marine VFD, which would help manufacturers review the growth in demand.
  • The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
  • The report would help the key players understand the strategies of their competitors and make better strategic decisions.
  • The report covers the market share analysis of the key players of the marine VFD market, and with the help of this, companies can enhance their revenues in the respective market.
  • The report provides insights about the emerging geographies for the marine VFD market. Hence, the entire market ecosystem can gain competitive advantage from such insights.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst


Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regional Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Market Size Estimation
           2.1.1 Ideal Demand-Side Analysis
                    2.1.1.1 Assumptions
           2.1.2 Supply-Side Analysis
                    2.1.2.1 Calculation
           2.1.3 Frame Work of Market Assessment
           2.1.4 Forecast
    2.2 Some of the Insights of Industry Experts

3 Executive Summary (Page No. - 20)

4 Premium Insights (Page No. - 23)
    4.1 Attractive Opportunities in the Marine VFD Market During the Forecast Period
    4.2 Marine VFD Market, By Region
    4.3 Asia Pacific Marine VFD Market, By Application and Country
    4.4 Marine VFD Market, By Type
    4.5 Marine VFD Market, By Voltage
    4.6 Marine VFD Market, By Application

5 Market Overview (Page No. - 27)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rise in Need for Energy Efficiency
                    5.2.1.2 Growth of the Shipbuilding Industry
           5.2.2 Restraints
                    5.2.2.1 High Troubleshooting Cost
           5.2.3 Opportunities
                    5.2.3.1 Internet of Things (IOT)
           5.2.4 Challenges
                    5.2.4.1 Gray Market Providing Low-Quality and Cheap Products

6 Marine VFD Market, By Type (Page No. - 30)
    6.1 Introduction
    6.2 AC Drive
           6.2.1 Rise in the Need for Energy Savings is Exepected to Drive the Market for AC Drives
    6.3 DC Drive
           6.3.1 Need for Good Speed Regulation is Expected to Drive the Market for DC Drives

7 Marine VFD Market, By Voltage (Page No. - 34)
    7.1 Introduction
    7.2 Low Voltage Drive (Upto 1000 V)
           7.2.1 Increased Use of Low Voltage Motors is Driving the Market for Low Voltage Drives
    7.3 Medium Voltage Drive (Above 1000 V)
           7.3.1 Need for Reducing Overall Operating Costs is Driving the Market for Medium Voltage Drives

8 Marine VFD Market, By Application (Page No. - 38)
    8.1 Introduction
    8.2 PUMP
           8.2.1 Increase in Demand for Energy Efficiency is Driving the Market for VFDs in the PUMP Segment
    8.3 FAN
           8.3.1 Need for Proper Hvac System in Marine Vessels is Driving the Market for VFDs in the FAN Segment
    8.4 Compressor
           8.4.1 Need for Reducing Component Degradation is Driving the Market for VFDs in the Compressors Segment
    8.5 Propulsion/Thruster
           8.5.1 Need for Reduction in Energy Consumption is Driving the Market for VFDs in the Propulsion/Thruster Segment
    8.6 Crane & Hoist
           8.6.1 Increase in Need for Speed Adjustment and Reduction in Energy Wastage is Driving the Market for VFDs in the Crane & Hoist Segment

9 Marine VFD Market, By Region (Page No. - 44)
    9.1 Introduction
    9.2 North America
           9.2.1 By Type
           9.2.2 By Voltage
           9.2.3 By Appplication
           9.2.4 By Country
                    9.2.4.1 US
                               9.2.4.1.1 Growing Shipbuilding and Cargo Industry is Expected to Drive the Marine VFD Market in the US
                    9.2.4.2 Canada
                               9.2.4.2.1 Rise in Demand for Exporting Marine Boats is Likely to Boost the Marine VFD Market
                    9.2.4.3 Mexico
                               9.2.4.3.1 Increasing Demand for Offshore Support Vessels is Expected to Drive the Marine VFD Market
    9.3 South America
           9.3.1 By Type
           9.3.2 By Voltage
           9.3.3 By Appplication
           9.3.4 By Country
                    9.3.4.1 Brazil
                               9.3.4.1.1 Brazil has Significant Offshore Oil & Gas Activity, Creating A Demand for Offshore Support Vessels and Commercial Vessels
                    9.3.4.2 Argentina
                               9.3.4.2.1 Increase in Government Spending for Growth in the Country’s Shipbuilding IndUStry is Likely to Drive the Market
                    9.3.4.3 Rest of South America
                               9.3.4.3.1 Increase in Investments for Expanding Shipbuilding Capabilities is Driving the Market
    9.4 Middle East & Africa
           9.4.1 By Type
           9.4.2 By Voltage
           9.4.3 By Appplication
           9.4.4 By Country
                    9.4.4.1 Saudi Arabia
                               9.4.4.1.1 Growth of Shipbuilding and Shipbreaking and Refurbishment IndUStry is Expected to Drive the Market
                    9.4.4.2 UAE
                               9.4.4.2.1 Increase in Maritime Activities Owing to Oil & Gas Exports is Expected to Drive the Market
                    9.4.4.3 Qatar
                               9.4.4.3.1 Rise in Demand for Lng and Lpg Carriers, as Well as Tugboats and Offshore Support Vessels, is Expected to Drive the Market
                    9.4.4.4 South Africa
                               9.4.4.4.1 Low Production is Expected to Drive the Market
                    9.4.4.5 Rest of Middle East & Africa
                               9.4.4.5.1 Growing Potential for International Trade is Expected to Drive the Market
    9.5 Asia Pacific
           9.5.1 By Type
           9.5.2 By Voltage
           9.5.3 By Appplication
           9.5.4 By Country
                    9.5.4.1 China
                               9.5.4.1.1 Strong Economic Growth and Supportive Government Policies for the Shipbuilding IndUStry is Expected to Drive the Market
                    9.5.4.2 India
                               9.5.4.2.1 Economic Growth, Favorable Government Policies and Incentive Framework, A Long Coastline, and Increase in Marine Freight Traffic are Expected to Drive the Market
                    9.5.4.3 Japan
                               9.5.4.3.1 Financial Support Provided By the Government for the Growth of the Marine IndUStry is Expected to Drive the Market
                    9.5.4.4 South Korea
                               9.5.4.4.1 Government Policies Such as Tax Rebates are Expected to Drive the Market
                    9.5.4.5 AUStralia
                               9.5.4.5.1 Increase in the Manufacturing of Defense and Commercial Vessels is Expected to Drive the Market
                    9.5.4.6 Rest of Asia Pacific
                               9.5.4.6.1 Increase in Demand for Commercial Vessels is Expected to Drive the Market
    9.6 Europe
           9.6.1 By Type
           9.6.2 By Voltage
           9.6.3 By Appplication
           9.6.4 By Country
                    9.6.4.1 Italy
                               9.6.4.1.1 Italy is the Leading Country for Fishing Ships and Cruise Liners and has the Largest Ferry Fleet in Europe
                    9.6.4.2 Germany
                               9.6.4.2.1 Investments for the Development of More Advanced Marine Systems is Expected to Drive the Market
                    9.6.4.3 France
                               9.6.4.3.1 Increase in the Manufacturing of Defense Vessels is Expected to Drive the Market
                    9.6.4.4 Netherlands
                               9.6.4.4.1 Netherlands has Europe’s Largest Inland Shipping Fleet With the World’s Leading Manufacturing of High-End Yachts and Special Vessels
                    9.6.4.5 UK
                               9.6.4.5.1 Increase in Shipbuilding Activities is Expected to Drive the Market
                    9.6.4.6 RUSsia
                               9.6.4.6.1 Government Policies and Funding is Expected to Drive the Market
                    9.6.4.7 Rest of Europe
                               9.6.4.7.1 Denmark, Spain, Finland, Norway, Greece, Poland, Portugal, and Turkey are Expected to Drive the Market

10 Competitive Landscape (Page No. - 71)
     10.1 Introduction
     10.2 Market Share Analysis
     10.3 Competitive Scenario
             10.3.1 New Product Launches
             10.3.2 Contracts & Agreements
             10.3.3 Mergers & Acquisitions
             10.3.4 Investments & Expansions
             10.3.5 Partnerships
     10.4 Competitive Leadership Mapping
             10.4.1 Visionary Leaders
             10.4.2 Innovators
             10.4.3 Dynamic
             10.4.4 Emerging

11 Company Profiling (Page No. - 76)
(BUSiness Overview, Products Offered, Recent Developments)* 
     11.1 ABB
     11.2 Rockwell Automation
     11.3 Danfoss
     11.4 Siemens
     11.5 CG Power and IndUStrial Solutions
     11.6 Mitsubishi Electric
     11.7 WEG
     11.8 Invertek Drives
     11.9 Eaton
     11.1 GE
     11.11 Yaskawa
     11.12 Parker Hannifin
*Details on BUSiness Overview, Products Offered, Recent Developments Might Not Be Captured in Case of Unlisted Companies. 

12 Appendix (Page No. - 97)
     12.1 Insights of IndUStry Experts
     12.2 DiscUSsion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Available CUStomizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (63 Tables)

Table 1 Shipbuilding Data is the Determining Factor for the Global Marine VFD Market
Table 2 Marine VFD Market Snapshot
Table 3 Marine VFD Market Size, By Type, 2017–2024 (Units)
Table 4 Marine VFD Market Size, By Type, 2017–2024 (USD Million)
Table 5 AC Drive: Marine VFD Market Size, By Region, 2017–2024 (USD Million)
Table 6 DC Drive: Marine VFD Market Size, By Region, 2017–2024 (USD Million)
Table 7 Marine VFD Market Size, By Voltage, 2017–2024 (Units)
Table 8 Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 9 Low Voltage Drive: Marine VFD Market Size, By Region, 2017–2024 (USD Million)
Table 10 Medium Voltage Drive: Marine VFD Market Size, By Region, 2017–2024 (USD Million)
Table 11 Marine VFD Market Size, By Application, 2017–2024 (Units)
Table 12 Marine VFD Market Size, By Application, 2017–2024 (USD Million)
Table 13 PUMP: Marine VFD Market Size, By Region, 2017–2024 (USD Million)
Table 14 FAN: Marine VFD Market Size, By Region, 2017–2024 (USD Million)
Table 15 Compressor: Marine VFD Market Size, By Region, 2017–2024 (USD Million)
Table 16 Propulsion/ThrUSter: Marine VFD Market Size, By Region, 2017–2024 (USD Million)
Table 17 Crane & Hoist: Marine VFD Market Size, By Region, 2017–2024 (USD Million)
Table 18 Marine VFD Market Size, By Region, 2017–2024 (USD Billion)
Table 19 North America: Marine VFD Market Size, By Type, 2017–2024 (USD Million)
Table 20 North America: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 21 North America: Marine VFD Market Size, By Application, 2017–2024 (USD Million)
Table 22 North America: Marine VFD Market Size, By Country, 2017–2024 (USD Million)
Table 23 US: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 24 Canada: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 25 Mexico: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 26 South America: Marine VFD Market Size, By Type, 2017–2024 (USD Million)
Table 27 South America: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 28 South America: Marine VFD Market Size, By Application, 2017–2024 (USD Million)
Table 29 South America: Marine VFD Market Size, By Country, 2017–2024 (USD Million)
Table 30 Brazil: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 31 Argentina: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 32 Rest of South America: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 33 Middle East & Africa: Marine VFD Market Size, By Type, 2017–2024 (USD Million)
Table 34 Middle East & Africa: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 35 Middle East & Africa: Marine VFD Market Size, By Application, 2017–2024 (USD Million)
Table 36 Middle East & Africa: Marine VFD Market Size, By Country, 2017–2024 (USD Million)
Table 37 Saudi Arabia: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 38 UAE: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 39 Qatar: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 40 South Africa: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 41 Rest of Middle East & Africa: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 42 Asia Pacific: Marine VFD Market Size, By Type, 2017–2024 (USD Million)
Table 43 Asia Pacific: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 44 Asia Pacific: Marine VFD Market Size, By Application, 2017–2024 (USD Million)
Table 45 Asia Pacific: Marine VFD Market Size, By Country, 2017–2024 (USD Million)
Table 46 China: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 47 India: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 48 Japan: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 49 South Korea: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 50 Australia: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 51 Rest of Asia Pacific: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 52 Europe: Marine VFD Market Size, By Type, 2017–2024 (USD Million)
Table 53 Europe: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 54 Europe: Marine VFD Market Size, By Application, 2017–2024 (USD Million)
Table 55 Europe: Marine VFD Market Size, By Country, 2017–2024 (USD Million)
Table 56 Italy: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 57 Germany: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 58 France: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 59 Netherlands: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 60 UK: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 61 Russia: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 62 Rest of Europe: Marine VFD Market Size, By Voltage, 2017–2024 (USD Million)
Table 63 Developments By Key Players in the Market, 2015–February 2019

List of Figures (34 Figures)

Figure 1 Marine VFD Market 2017
Figure 2 Asia Pacific Dominated the Marine VFD Market in 2018
Figure 3 AC Drive Segment is Expected to Lead the Marine VFD Market During the Forecast Period
Figure 4 Low Volatge Segment is Expected to Lead the Marine VFD Market During the Forecast Period
Figure 5 PUMP Segment is Expected to Lead the Marine VFD Market During the Forecast Period
Figure 6 Rise in the Need for Energy Efficiency is Expected to Drive the Marine VFD Market, 2019–2024
Figure 7 Asia Pacific Marine VFD Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 8 PUMP Segment and China Dominated the Asia Pacific Marine VFD Market
Figure 9 Ac Drive Segment is Expected to Dominate the Marine VFD Market, By Type, During the Forecast Period
Figure 10 Low Voltage Segment is Expected to Dominate the Marine VFD Market, By Voltage, During the Forecast Period
Figure 11 PUMP Segment is Expected to Dominate the Marine VFD Market, By Application, During the Forecast Period
Figure 12 Drivers, Restraints, Opportunites, and Challenges
Figure 13 Total Number of Fleets, 2011–2018
Figure 14 Ac Drive Segment Led the Marine VFD Market, By Type, in 2018
Figure 15 Low Voltage Segment Accounted for A Larger Market Share in 2018
Figure 16 PUMP Segment Led the Marine VFD Market, By Application, in 2018
Figure 17 Regional Snapshot: the Asia Pacific Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 18 Marine VFD Market Share (Value), By Region, 2018
Figure 19 Asia Pacific: Regional Snapshot
Figure 20 Europe: Regional Snapshot
Figure 21 Key Developments in Marine VFD Market, During January 2015–February 2019
Figure 22 Market Share Analysis, 2017
Figure 23 Marine VFD Market Competitive Leadership Mapping, 2017
Figure 24 ABB: Company Snapshot
Figure 25 Rockwell Automation: Company Snapshot
Figure 26 Danfoss: Company Snapshot
Figure 27 Siemens: Company Snapshot
Figure 28 CG Power and Industrial Solutions: Company Snapshot
Figure 29 Mitsubishi Electric: Company Snapshot
Figure 30 WEG: Company Snapshot
Figure 31 Eaton: Company Snapshot
Figure 32 GE: Company Snapshot
Figure 33 Yaskawa: Company Snapshot
Figure 34 Parker Hannifin: Company Snapshot

This study involved 4 major activities in estimating the current size of the marine VFD market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. Thereafter, the market breakdown and data triangulation was done to estimate the market size of the segments and subsegments.

Secondary Research

This research study involved the use of extensive secondary sources, directories, and databases such as Hoover’s, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market oriented, and commercial study of the marine VFD market. The other secondary sources included annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.  

Primary Research

The marine VFD market comprises several stakeholders such as VFD manufacturers, dealers, and suppliers, shipbuilding companies, government and research organisations, institutional investors, and shareholders. The demand side of this market is characterized by its applications such as pumps, fans, compressors, propulsions/thrusters, and cranes & hoists. Various primary sources, from both the supply and demand sides of the market, were interviewed to obtain qualitative and quantitative information.

Marine VFD Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the marine VFD market and its dependent submarkets. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends, from both the demand and supply sides, in the marine industry.

Report Objectives

  • To define, describe, and forecast the marine VFD market by application, type, voltage, and region
  • To provide detailed information on the major factors influencing the growth of the marine VFD market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the marine VFD market with respect to individual growth trends, prospects, and contribution of each segment to the market
  • To analyze the market opportunities for stakeholders and the details of the competitive landscape for market leaders
  • To forecast the growth of the marine VFD market with respect to the major regions (Asia Pacific, Europe, North America, South America, and the Middle East & Africa).
  • To strategically profile key players and comprehensively analyze their market ranking and core competencies
  • To track and analyze the competitive developments such as contracts & agreements, expansions, new product developments, mergers & acquisitions, and partnerships in the marine VFD market

Scope of the Report

Report Metric

Details

Market Size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD)

Segments covered

Application, type, voltage, and region

Geographies covered

Asia Pacific, Europe, North America, South America, and the Middle East & Africa

Companies covered

ABB (Switzerland), Eaton (Ireland), Siemens (Germany), Danfoss (Denmark), GE (US) Rockwell (US), Yaskawa (Japan), CG Power and Industrial Solutions (India), WEG (Brazil), Mitsubishi Electric (Japan), Parker Hannifin (US), and Invertek Drives (UK)

This research report categorizes the marine VFD market based on application, type, voltage, and region.

On the basis of application, the marine VFD market has been segmented as follows:

  • Pump
  • Fan
  • Compressor
  • Propulsion/thruster
  • Crane & hoist

On the basis of type, the marine VFD market has been segmented as follows:

  • AC Drive
  • DC Drive

On the basis of voltage, the marine VFD market has been segmented as follows:

  • Low voltage (Up to 1 kV)
  • Medium voltage (Above 1 kV)

On the basis of region, the marine VFD market has been segmented as follows:

  • Asia Pacific
  • Europe
  • North America
  • South America
  • Middle East & Africa

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Regional Analysis

  • Further breakdown of the region or country-specific analysis

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
EP 7008
Published ON
Apr, 2019
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