Home > Semiconductors & Electronics > Automation > Marine Variable Frequency Drives Market

Marine Variable Frequency Drives Market Share

Report ID: GMI11115
Published Date: Aug 2024
Report Format: PDF

Download Free Sample

Marine Variable Frequency Drives Market Share

Marine Variable Frequency Drives Market Company Share Analysis, 2023

Key players in the marine variable frequency drives industry are prioritizing strategic agreements, partnerships, and collaborations, alongside the introduction of innovative technologies, to bolster their competitive edge. Key players including ABB, Danfoss, WEG, GE Vernova, Nidec, and Parker Hannifin among other, holds majority of the market share.

Marine Variable Frequency Drives Market Companies

Major manufacturers operating across the industry consists of:

ABB
BERG Propulsion
Bosch Rexroth Corporation
CG Power & Industrial Solutions Ltd.
Danfoss
GE Vernova
Honeywell International, Inc.
Invertek Drives Ltd.
Leonardo DRS
Nidec Motor Corporation
PARKER HANNIFIN CORP
Rockwell Automation
Siemens Energy
Triol Industrial Solutions
WEG
Yaskawa Europe GmbH

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

Market size for marine variable frequency drives was over USD 927.8 million in 2023 and is expected to register 5% CAGR from 2024-2032 due to the ongoing technological advancements, regulatory mandates, and increasing demand for energy efficient systems worldwide.

Marine variable frequency drives industry from the low voltage drives segment is expected to surpass USD 1.2 billion by 2032 due to rising need for efficient, cost-effective solutions across marine applications, coupled with stringent mandates toward reducing carbon emissions.

Asia Pacific industry is expected to reach over USD 670 million by 2032 due to rising clean power generation, robust development of marine engine and propulsion, and efforts to reduce energy consumption in the region.

ABB, Danfoss, GE Vernova, Invertek Drives Ltd., Leonardo DRS, Nidec Motor Corporation, PARKER HANNIFIN CORP, Rockwell Automation, Siemens Energy, Triol Industrial Solutions, WEG, and Yaskawa Europe GmbH, are some of the major marine variable frequency drives companies worldwide.