Marine VFD Market Revenue to Hit $1,039 Million by 2024

1. Marine VFD Market by Type (AC Drive, DC Drive), Voltage (Low Voltage (Up to 1 kV), Medium Voltage (Above 1 kV)), Application (Pump, Fan, Compressor, Propulsion / Thruster, Crane & Hoist) and Region - Global Forecast to 2024 www.MarketsandMarkets.com

2. The report "Marine VFD Market by Type (AC Drive, DC Drive), Voltage (Low Voltage (Up to 1 kV), Medium Voltage (Above 1 kV)), Application (Pump, Fan, Compressor, Propulsion / Thruster, Crane & Hoist) and Region - Global Forecast to 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.

3. 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 is estimated to dominate the marine VFD market in 2019 and is projected to have the largest market share during the forecast period.  This is because the use of an AC drive helps in energy savings, increases the life of rotating components, reduces the noise and vibration level, decreases mechanical stress on motor control applications, and enhances the overall process control. Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=85395523

4. The medium voltage segment is expected to be the fastest growing marine VFD market, by voltage, during the forecast period The medium voltage segment accounted for the highest CAGR during the forecast period. The use of these drives helps in improving efficiency, thereby reducing the overall operating cost. Furthermore, the medium voltage VFDs are estimated to save 40–60% of energy compared to motors running at full speed. Get 10% Customization on this report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=85395523

5. Browse >> 63 market data tables 34 figures 103 pagesand in-depth TOC on “Marine VFDs Market - Global Forecast to 2024” Early buyers will receive 10% customization on this report. This is a Premium Report Priced at US $5650 for single user. Corporate User : US$8150 This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

6. Asia Pacific: The leading marine VFD market In this report, the marine VFD market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific is estimated to dominate the global marine VFD market in 2019, owing to the presence of a large number of shipbuilding companies in China, Japan, and South Korea. Moreover, in the past few years, this region has witnessed rapid economic development as well as the growth in the maritime trade. The rise in seaborne trade has, subsequently, led to an increase in the demand for ships used to transport manufactured goods to various regions worldwide. Thus, the rise in the demand of ships is likely to drive the demand for marine VFDs in the Asia Pacific region. Request Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=85395523

7. To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the marine VFD market. Some of the key players are • Key players - • ABB (Switzerland), • GE (US), • Eaton (Ireland), • Rockwell Automation (US), • Siemens (Germany), • WEG (Brazil), • and Danfoss (Denmark), etc… • Buy Now : - • https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=85395523

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