Marine VFD market is anticipated to grow at a considerable CAGR of 4.9% during the forecast period. The growth of the market is attributed to factors such as the rise in demand for energy efficiency and the growth in the shipbuilding industry. According to International Energy Agency, in 2021 emissions from the international shipping sector grew by 5%. There have been efforts from different organizations and market players to achieve a 15% reduction in emissions from 2021 to 2030. Accordingly, market players are adopting various strategies to add fuel efficiency to the shipbuilding industry. For instance, in July 2020, UK-based Envoy Group acquired a marine engineering company, Avantis Marine, to target carbon reduction and clean energy solutions for offshore markets. Thus increased maritime trade and focus on efficient ships operation are anticipated to fuel the demand for Marine VFD.
Get Free Sample link @ https://www.omrglobal.com/request-sample/marine-vfd-market
The global marine VFD market is segmented based on its type, voltage, application, and end-user. Based on type, the market is segmented into AC drive and DC drive. Based on voltage, the market is categorized into low-voltage drives and medium-voltage drives. Further, based on application, the market is segmented into propellers, pumps, electric fans, HVAC, compressors, and others. Among the end-user segment, marine vessels, offshore oil & gas, and offshore wind power are the key segments driving market growth.
full report of Marine VFD Market available @ https://www.omrglobal.com/industry-reports/marine-vfd-market
- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Marine Variable Frequency Drive (VFD) Market Report Segment
By Type
- AC Drive
- DC Drive
By Voltage
- Low Voltage Drive
- Medium Voltage Drive
By Application
- Propellers
- Pumps
- Electric Fan
- Heating, Ventilation, and Air Conditioning (HVAC)
- Compressors
- Others
By End-user
- Marine Vessels
- Offshore Oil & Gas
- Offshore Wind Power
Global Marine Variable Frequency Drive (VFD) Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Marine VFD market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/marine-vfd-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
