Marine VFD Market

Market Leaders - Marine VFD Market

The marine VFD market is expected to grow from an estimated USD 804 million in 2021 to USD 1,075 million by 2026, at a CAGR of 6.0% during the forecast period. Marine VFDs are increasingly being installed in Asia pacific and European region and is showing robust growth.

A few major players that have a wide regional as well global presence and dominate the marine VFD market. The leading players in the marine VFD market include Siemens (Germany), ABB (Switzerland), GE (US), Rockwell Automation (US), and Danfoss (Denmark).

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The major strategies adopted by these players include new product launches, contracts & agreements, investments & expansions, mergers & acquisitions, joint ventures, and partnerships & collaborations. Contract and agreements was the most commonly adopted strategy from January 2017 to February 2021.

ABB is a power technology and industrial automation company that offers a range of products, systems, solutions, and services that help boost productivity, enhance energy efficiency, and increase power reliability. The company operates through four business segments: Electrification, Robotics & Discrete Automation, Industrial Automation, and Motion. It provides marine VFD products through the Motion segment. Through the Motion segment, ABB designs and manufactures electric motors, generators, drives, and services, and offers integrated digital powertrain solutions. This business segment offers low- and medium-voltage drives. ABB has its presence in over 100 countries, with manufacturing units in Europe, Middle East & Africa, and North America.

Siemens is a technology company that provides products and services for transportation, healthcare, and infrastructure. The company has six reportable business segments: Digital Industries, Smart Infrastructure, Mobility, Portfolio Companies, Healthineers, and Financial Services. It offers VFDs under its Digital Industries business segment. Digital Industries has a broad product range and system solutions for discrete and process automation, including factory automation systems and software, numerical control systems, motors, drives, and inverters, and integrated automation systems for machine tools and production machines. This segment also offers process control systems, machine-to-machine communication solutions, and sensors. Siemens has a presence in all the major countries of Europe, North America, the Middle East, and Asia Pacific and has 289 production and manufacturing plants across the globe.

 Danfoss is a multinational company. It provides climatic solutions and energy-efficient products to various industries. The company operates through three business segments: Danfoss Power Solutions, Danfoss Climate Solutions, and Danfoss Drives. It offers VFDs through the Danfoss Drives segment. The company is solely focused on developing, manufacturing, and supplying AC drives. It is the pioneer in the mass production of AC drives. Danfoss offers VFDs under the brand names VLT drives and VACON drives. The Danfoss Drives segment employs more than 1000 R&D engineers and has sales and service offices in more than 50 countries.

Related Reports:

Marine VFD Market by Type (AC Drive, DC Drive), Voltage (Low Voltage, Medium Voltage), Application (Pump, Fan, Compressor, Propeller (With Shaft Generator, Without Shaft Generator), Crane & Hoist), and Region - Global Forecast to 2026

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Report Code
EP 7008
RI Published ON
9/28/2021
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