Global Marine VFD Market, By Type (AC Drive and DC Drive), Voltage (Low Voltage Drive, and Medium Voltage Drive), Application (Pump, Fan, Compressor, Propulsion or Thruster and Crane and Hoist), Technology (Standard, Regenerative), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Marine VFD Market
The marine VFD market is expected to witness market growth at a rate of 9.56% in the forecast period of 2021 to 2028. Data Bridge Market Research report on sports optic market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Marine variable frequency drive (VFD) is cost efficient electrical equipment that is utilized to adjust the speed and torque of a VFD electric motor. It is utilized in an assortment of marine functions for example pumps, fans, compressors, propulsion, cranes, and hoists. There are two categories of marine VFD’s, AC drive and DC drive.
Main advantages of marine VFD involve energy conserving coupled with speed control, improvised effectiveness of motor-driven device and offers advantages of network communications with ease of establishment are the factors further estimated to supplement the growth of the marine VFD market during the forecast period. The increase in the demand for energy effectiveness and the rise in the shipbuilding industry are to further contribute to the growth of the marine VFD market in the coming years. Prominent manufacturers, in the advanced countries are signing contracts and agreements to offer marine propulsion services for the ships, around the world. These services involve VFD along with propulsion motors and distribution transformers. New government administrations in the marine sector are growing of the demand for more energy effective operations with decreased carbon footprint, therefore, escalating the acceptance of VFD which in turn is further expected to boost the growth of the marine VFD market in the forecast period. Moreover, the growing of the seaborne trade has led to a rise in the need for ships utilized to transport manufactured goods around the world are anticipated to further propel the growth of the marine VFD market. Furthermore, accessibility of cheap and low quality items in the market is another factor hampering the growth of the marine VFD market. Additionally, the arrival of the internet of things (IoT) is anticipated to offer advantageous growth opportunities for the market players included in the global marine VFD market in the upcoming future. Despite that, gray market offering low-quality and cheap items are projected to further challenge the growth of the marine VFD market.
This marine VFD market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on marine VFD market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Marine VFD Market Scope and Market Size
The marine VFD market is segmented on the basis of type, voltage, application and technology. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on the type, the marine VFD market is segmented into AC drive and DC drive.
- Based on the by voltage, the marine VFD market is segmented into low voltage (up to 1 KV) and medium voltage (above 1 KV).
- Based on the application, the marine VFD market is segmented into pump, fan, compressor, propulsion or thruster and crane and hoist.
- Based on the technology, the marine VFD market is segmented into standard, regenerative.
Marine VFD Market Country Level Analysis
The marine VFD market is analysed and market size, volume information is provided by country, type, voltage, application and technology as referenced above.
The countries covered in the sports optic market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the sports optic market because of the existence of a high number of shipbuilding companies in in the advancing countries in the region. The developing countries are anticipated to be responsible for the largest share of the market in the region and are making efforts to reduce carbon emission and conserve energy by establishing fuel effective marine electric propulsion systems in its ships. Furthermore, the sports optic market has shown noticeable amount of growth in the need for electricity, chiefly boosted by industrialization and infrastructure development is one of the factors that will further propel the growth of the sports optic market in the region during the forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Marine VFD Market Share Analysis
The marine VFD market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to marine VFD market.
The major players covered in the marine VFD market report are ABB, Rockwell Automation, Inc., Danfoss, Siemens, Mitsubishi Electric Corporation, WEG, Invertek Drives Ltd., Eaton, GENERAL ELECTRIC, Yaskawa Electric Corporation, PARKER HANNIFIN CORP, Schneider Electric, Hitachi, Ltd, Fujifilm India, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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