Variable frequency drive
(VFD) is used in ships to change and control the speed of a motor by changing
frequency of the power supply to the motor. The device helps control the
pressure, speed, and flow of a motor and, also, helps save up to 50% of energy.
For instance, VFD helps reduce and control the speed of fans and pumps, which
would result in less current and energy consumption. They key advantages of VFD
in the marine sector include proper speed control, low cost for medium and high
horsepower (hp) applications, and good speed regulation.
The global marine VFD market
is estimated to register a CAGR of 6.50% during the forecast period.
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.
Industry
Segmentation
The global marine VFD market
has been segmented based on type, voltage, application, and region.
On the basis of type, the
global market has been divided into AC drive and DC drive. The AC drive segment
is expected to dominate the market during the forecast period, owing to various
advantages of AC drive such as energy savings, reduction of noise and vibration
level, and decreases mechanical stress.
On the basis of voltage, the
global market has been divided into low voltage and medium voltage. The medium
voltage segment is expected to dominate the market due to higher efficiency.
Medium voltage drives help in saving approximately 40-60% of energy by
controlling speed of the motors.
Leading
Players
The key players operating in
the global marine VFD market are Parker Hannifin (US), ABB (Switzerland), WEG
(Brazil), Siemens (Germany), Rockwell Automation (US), Yaskawa (Japan), CG
Power (India), Mitsubishi Electric (Japan), Eaton (Ireland), Danfoss (Denmark),
Invertek Drives (UK), and General Electric (US).
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Research Report at: https://www.marketresearchfuture.com/reports/marine-vfd-market-7936
Regional
Analysis
On the basis of region, the
market has been segmented into Asia-Pacific, North America, Europe, the Middle
East & Africa, and South America. The growth of the marine VFD market in
Asia-Pacific is driven by several key factors including the increasing development
for offshore activities, resulting in the increased infrastructure development
in the emerging economies of Australia, China, Thailand, and India. Moreover,
market players such as Parker Hannifin, General Electric, ABB, and Siemens, are
signing contracts in the region to provide their marine propulsion system with
VFDs. Furthermore, factors such as government mandates on energy efficiency and
the increased demand for drives which are compatible with IoT in countries such
as China, India, Singapore, in Asia-Pacific are driving the growth of the
market for marine VFD in the region.
Scope of the Report
This report provides an
in-depth analysis of the global marine VFD market, tracking four market
segments across five geographic regions. The report studies key players,
providing a five-year annual trend analysis that highlights market size and
share for North America, Asia-Pacific, Europe, the Middle East & Africa,
and South America. The report also presents a forecast, focusing on the market
opportunities for the next five years for each region. The scope of the study
segments the global Marine VFD market by type, voltage, application,
and region.
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