Marine VFD Market Analysis

Voltage (Low, Medium)

Low voltage segment is set to dominate marine VFD market share of around 84.2% by the end of 2037. The low voltage variable frequency drive offers increased production output and energy savings owing to its flexible and high-performance motor control features. The increasing trend towards automation in marine operations is fuelling the sales of low voltage variable frequency drives. In June 2019, CG Power & Industrial Solutions Ltd. announced the launch next generation of compact low-voltage VFD for industrial automation, including, marine sector.

Drive (AC, DC, Servo)

In marine VFD market, AC marine VFD segment is anticipated to account for revenue share of around 80.5% by 2037. The AC drive technology is gaining widespread popularity in the marine and offshore sectors due to its ability to adjust motor speed and mitigate energy consumption. Stringent regulations on emissions and energy consumption by the International Maritime Organization (IMO) are driving shipbuilders and operators to adopt advanced technologies such as AC drives that support compliance through improved fuel efficiency and lower emissions. Many long-haul vessels across the world are employed with conventional direct diesel propulsion, but to comply with strict regulations they are shifting toward hybridization by adopting advanced AC drive technologies.

Our in-depth analysis of the global market includes the following segments: