The marine VFD market analysis considers sales from AC drive and DC drive types. Our analysis also considers the sales of marine VFD in APAC, Europe, North America, South America, and MEA. In 2018, the AC drive segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the improved vessel performance offered by AC drive will play a significant role in the AC drive segment to maintain its market position. Also, our global marine VFD market report looks at factors such as the increasing demand for energy efficiency, growing shipbuilding industry, and demand for superior performance in marine operations. However, cost and complexity in troubleshooting, impact on connected sensitive electronic devices, and alternative methods of shipping and traveling may hamper the growth of the marine VFD industry over the forecast period.
Global Marine VFD Market: Overview
Demand for superior performance in marine operations
Marine VFD not only maintains full load capacity for marine devices and components but also allows engine operation across a wide range of speeds. This enables the efficient, precise, and reliable control of various marine engine components. It also ensures the minimization of operating time by allowing high-speed movement and performance. Such benefits of using marine VFDs for superior performance of marine and ship operations will lead to the expansion of the global marine VFD market at a CAGR of over 6% during the forecast period.
Advent of remote monitoring in VFD
Remote monitoring of marine VFDs plays a crucial role in identifying deteriorating conditions within the VFD, which can potentially cause a shutdown and result in losses for end-users. It also allows end-users to remotely troubleshoot any minor failure in marine VFDs, which enables them to reduce unplanned downtime and increase efficiency. The development of remote monitoring in VFD is expected to have a positive impact on the overall market growth.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
Preface
Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
Market ecosystem
Market characteristics
Market segmentation analysis
PART 04: MARKET SIZING
Market definition
Market sizing 2018
Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
PART 06: MARKET SEGMENTATION BY TYPE
Market segmentation by type
Comparison by type
AC drive - Market size and forecast 2018-2023
DC drive - Market size and forecast 2018-2023
Market opportunity by type
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
Geographic segmentation
Geographic comparison
APAC - Market size and forecast 2018-2023
Europe - Market size and forecast 2018-2023
North America - Market size and forecast 2018-2023
MEA - Market size and forecast 2018-2023
South America - Market size and forecast 2018-2023
Key leading countries
Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
Market drivers
Market challenges
PART 11: MARKET TRENDS
Digitalization of shipbuilding industry
Increasing hybrid and electric propulsion in marine operations
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