MARKET INTRODUCTION
Marine variable frequency drives (VFD) are used for regulating the speed and torque of motors so that they run accurately according to the demand. The robust economic growth and government policies for the shipbuilding industry in the APAC countries such as China are significant factors contributing to the market growth in this region. The key market players are observed to focus on product launches and innovations during the forecast period.
MARKET DYNAMICS
The marine VFD market is anticipated to grow in the forecast period owing to driving factors such as robust growth of the shipbuilding industry coupled with the increasing need for energy efficiency. However, high troubleshooting costs may hamper the growth of the marine VFD market during the forecast period. On the other hand, the advent of the internet of things (IoT) is expected to offer lucrative growth opportunities for the players involved in the global marine VFD market in the future.
MARKET SCOPE
The "Global Marine VFD Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of marine VFD market with detailed market segmentation by type, voltage, application, and geography. The global marine VFD market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading marine VFD market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global marine VFD market is segmented on the basis of type, voltage, and application. Based on type, the market is segmented as AC drive and DC drive. On the basis of the voltage, the market is segmented as low voltage drive (upto 1000 V) and medium voltage drive (above 1000 V). The market on the basis of the application is classified as compressor, crane & hoist, pump, fan, and propulsion.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global marine VFD market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The marine VFD market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting marine VFD market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the marine VFD market in these regions.
MARKET PLAYERS
The reports cover key developments in the marine VFD market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from marine VFD market are anticipated to lucrative growth opportunities in the future with the rising demand for marine VFD in the global market. Below mentioned is the list of few companies engaged in the marine VFD market.
The report also includes the profiles of key marine VFD companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- ABB Ltd.
- CG Power and Industrial Solutions Limited
- Danfoss A/S
- Eaton Corporation
- GE Power Conversion
- Invertek Drives Ltd.
- Mitsubishi Electric Corporation
- Parker Hannifin Corp
- Rockwell Automation, Inc.
- Siemens AG
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