Marine VFD Market 2023 New Report Size, Trends, Share, Growth Forecast By 2030
New Revenue Pockets:
The Marine VFD market is projected to reach USD 1.6 billion by 2030 from an estimated USD 1.1 billion in 2023, at a CAGR of 5.0% during the forecast period. Marine VFDs are primarily used in marine ships and offshore platforms to control the speed and power of electric motors including vessel propulsion, offshore drilling rigs, offshore wind turbines, crane and hoist systems...
Marine VFD Market Size to Grow $1.6 billion by 2030
According to a research report “Marine VFD Market by End User Type (Marine Ships, and Offshore Platforms), Application ( Pump, Propulsion, Fan, Compressor, Crane & Hoist, Winch, HVAC, Steering, Scrubber, Shaft Generator, Power Electronics), & Region – Global Forecast to 2030″ published by MarketsandMarkets, the Marine VFD market is projected to reach USD 1.6 billion by 2030...
Marine VFD Market will Accelerate at a CAGR of Over 6.0% Between 2021-2026
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 VFD are increasingly being installed across Europe and Asia Pacific region and is showing robust growth. Increasing demand of energy efficient systems on ships and move to cut down carbon emission across the globe are expected to offer...
Marine VFD Market Likely to Boost Future Growth by 2026
According to the new market research report “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 “ size will grow to USD 1,075 million by 2026 (forecast year) from USD 804 million in 2021 (estimated...
Marine VFD Market Expected to Witness the Highest Growth during 2019-2024
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 the rise in demand for energy efficiency.
The AC drive segment is expected to hold the largest share of the marine VFD market, by type, during the forecast period
The AC drive segment...