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Marine VFD Market: Current Analysis and Forecast (2021-2027)

Region:Global

Product Code:UMEP21510

Download Sample Report
Published On

November 2021

Total pages

261

About the Report

Marine variable frequency drive (VFD) is a cost-effective electrical device that is used to regulate the speed and torque of an VFD electric motor. The VFD in the ships help the electric motors run accurately and helps in the efficient use of fuel with less maintenance. The major advantages of marine VFD include energy saving associated with speed control, improved efficiency of motor-driven equipment and provides benefits of network communications with ease of installation. These VFD's can be used for medium voltage and low voltage applications. Marine VFD caters considerable presence in the market from past few years. It is mainly owing to the rise in the demand for energy efficiency and growth in the shipbuilding industry coupled with increasing the need for more energy efficient operations with reduced carbon footprint is also positively influencing the market demand for marine VFD market.

Based on type, the marine VFD market is bifurcated into AC drive and DC drive. The AC drive segment is expected to hold the largest share during the forecast period due to the various advantages of AC drive such as energy savings, increased life of rotating components, and reduction of noise and vibration level.

Based on voltage, the marine VFD market is classified into low voltage and medium voltage. The medium voltage segment is expected to grow at a higher rate during the forecast period, as medium-voltage VFDs help in higher energy savings compared with low-voltage VFDs.

Based on application, the market is segmented into pump, fan, compressor, propeller, and crane & hoist. Currently, pump captured extensive share and expected to maintain considerable presence in the forecast period as well. As pumps extensively used for various purposes onboard a ship and is critical for proper functioning of any ship.

For a better understanding of the market adoption of marine VFD, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, Spain, Italy, France, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), and Rest of World. Asia Pacific dominant the market demand. It is predominantly owing to the existence of a high number of shipbuilding companies in in the advancing countries in the region.

Some of the major players operating in the market include ABB, Rockwell Automation, Inc, Danfoss, Siemens, Mitsubishi Electric Corporation, Wicked Evil Grin (WEG), Invertek Drives Ltd., GENERAL ELECTRIC, Yaskawa Electric Corporation, Schneider Electric. Several M&A's along with partnerships have been undertaken by these players to boost their presence in different regions.

Scope of the Report

Products

Global marine VFD market is expected to exceed the market valuation of around USD 1 billion by 2027 and is expected to grow at a single digit CAGR growth rate during the forecast period.

Companies

ABB, Rockwell Automation, Inc, Danfoss, Siemens, Mitsubishi Electric Corporation, Wicked Evil Grin (WEG), Invertek Drives Ltd., GENERAL ELECTRIC, Yaskawa Electric Corporation, Schneider Electric.

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stake Holders

1.4. Currency Used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Marine VFD Market

2.2. Research Methodology of the Marine VFD Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Marine VFD Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL MARINE VFD MARKET AMID COVID-19

6 GLOBAL MARINE VFD MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY Type

7.1. AC Drive

7.2. DC Drive

8 MARKET INSIGHTS BY Voltage

8.1. Low Voltage

8.2. Medium Voltage

9 MARKET INSIGHTS BY Application

9.1. Pump

9.2. Fan

9.3. Compressor

9.4. Propeller

9.5. Crane & Hoist

10 MARKET INSIGHTS BY REGION

10.1. North America Marine VFD Market

10.1.1. United States

10.1.2. Canada

10.1.3. Rest of North America

10.2. Europe Marine VFD Market

10.2.1. Germany

10.2.2. United Kingdom

10.2.3. France

10.2.4. Spain

10.2.5. Italy

10.2.6. Rest of Europe

10.3. Asia Pacific Marine VFD Market

10.3.1. China

10.3.2. Japan

10.3.3. India

10.3.4. Australia

10.3.5. Rest of Asia-Pacific

10.4. Rest of World Marine VFD Market

11 MARINE VFD MARKET DYNAMICS

11.1. Market Drivers

11.2. Market Challenges

11.3. Impact Analysis

12 MARINE VFD MARKET OPPORTUNITIES

13 MARINE VFD MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1. Demand Side Analysis

15.2. Supply Side Analysis

15.2.1. Top Product Launches

15.2.2. Top Business Partnerships

15.2.3. Top Business Expansions, Investments and Divestitures

15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1. Porter's Five Forces Analysis

17.1.1. Bargaining power of Supplier

17.1.2. Bargaining power of Buyer

17.1.3. Industry Rivalry

17.1.4. Availability of Substitute

17.1.5. Threat of new Entrants

17.2. Competitive Landscape

17.2.1. Company Shares, By Revenue

18 COMPANY PROFILED

18.1. Asea Brown Boveri (ABB)

18.2. ABB

18.3. Rockwell Automation, Inc

18.4. Danfoss

18.5. Siemens

18.6. Mitsubishi Electric Corporation

18.7. Wicked Evil Grin (WEG)

18.8. Invertek Drives Ltd., Eaton

18.9. GENERAL ELECTRIC

18.10. Yaskawa Electric Corporation

19 DISCLAIMER

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