Marine VFD market is giving the major share of 5.12% in 2018 and projected to grow at compound annual growth rate (CAGR) of more than over 6% during forecast period 2019-2023.
“Global “Marine VFD Market” gives in-depth analysis of the parent market with important changes in market dynamics, analyse segmentation details of the market as former, on-going, and projected market in terms of volume and value. Marine VFD market report specifies detailed competitive outlook including the market share and company profiles of the key participants operating in the global market.
About this market
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.
Marine VFD market report highlights the economy, past and emerging trend of industry, and availability of basic resources. furthermore, the market report explains development trend, analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out in the end, the report makes some important proposals for a new project of Marine VFD market before evaluating its possibility.
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Competitive Landscape
The market appears to be split and with the presence of several companies. Factors such as the increasing availability of multifunctional Marine VFD with rising and increased demand
Dynamics of Marine VFD MarketMarket Driver: demand for superior performance in marine operations Market Trend: advent of remote monitoring in VFD Market Challenge: alternative methods of shipping and traveling 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.
Regions of Marine VFD market
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PART 01: EXECUTIVE SUMMARY PART 02: SCOPE OF THE REPORT 2.1 Preface 2.2 Preface 2.3 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 Advent of remote monitoring in VFD PART 12: VENDOR LANDSCAPE Overview Landscape disruption Competitive scenario PART 13: VENDOR ANALYSIS Vendors covered Vendor classification Market positioning of vendors ABB Ltd. CG Power and Industrial Solutions Ltd. Danfoss AS Eaton Corp. Plc General Electric Co. Hitachi Ltd. Invertek Drives Ltd. Mitsubishi Heavy Industries Ltd. Rockwell Automation Inc. Siemens AG PART 14: APPENDIX Research methodology List of abbreviations Definition of market positioning of vendors PART 15: Conclusion
No. of Pages: – 137
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