Marine VFD Market 2027 – Size, Share, Growth, Statistics, Competitor Landscape
Market Highlights The global Marine VFD market is expected to reach USD 1.05 Billion by 2024 at a CAGR of 6.50% from 2019–2024. Marine VFD is an AC/DC drive that helps to regulate the speed and torque of motors in the ships so that they run accurately. VFDs are low or medium voltage drives that help the propulsion systems, thrusters, deck machinery, pumps, and HVAC systems to use the fuel more efficiently and reduce maintenance costs. Marine VFD also helps in saving energy along with controlling all the functions and output of the motor. Key Players The key players operating in the global marine VFD market are Siemens (Germany), Eaton (Ireland), Rockwell Automation (US), ABB (Switzerland), CG Power (India), Danfoss (Denmark), WEG (Brazil), Mitsubishi Electric (Japan), General Electric (US), Yaskawa (Japan), Parker Hannifin (US), and Invertek Drives (UK). Asia-Pacific held the largest share of the global Marine VFD market in 2018: MRFR Geographically, the marine VFD ma...