Global Marine Variable Frequency Drive (VFD) Market to Reach $1.5 Billion by 2030, Driven by Key Players ABB, Danfoss, Siemens, and More


Dublin, July 24, 2023 (GLOBE NEWSWIRE) -- The "Marine Variable Frequency Drive (VFD) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Marine Variable Frequency Drive (VFD) estimated at US$837.3 Million in the year 2022, is projected to reach a revised size of US$1.5 Billion by 2030, growing at a CAGR of 7.8% over the analysis period 2022-2030.

AC Drive, one of the segments analyzed in the report, is projected to record 7.5% CAGR and reach US$898.9 Million by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the DC Drive segment is readjusted to a revised 8.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $228.1 Million, While China is Forecast to Grow at 12.9% CAGR

The Marine Variable Frequency Drive (VFD) market in the U.S. is estimated at US$228.1 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$370.5 Million by the year 2030 trailing a CAGR of 12.9% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 6.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR.

Select Competitors (Total 37 Featured) -

  • ABB
  • Beard Marine Group
  • CG Power and IndUStrial Solutions
  • Danfoss
  • Eaton
  • GE
  • Invertek Drives
  • Mitsubishi Electric
  • Parker Hannifin
  • Rockwell Automation
  • Siemens
  • WEG
  • Yaskawa

Key Attributes:

Report AttributeDetails
No. of Pages93
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$837.3 Million
Forecasted Market Value (USD) by 2030$1500 Million
Compound Annual Growth Rate7.6%
Regions CoveredGlobal

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Marine Variable Frequency Drive (VFD) - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/uxdvct

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

 
Global Market for Marine Variable Frequency Drive (VFD)

Contact Data