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Marine VFD Market Revenue to Hit $1,039 Million by 2024

The global marine VFD market is projected to reach USD 1,039 million by 2024 from an estimated USD 772 million in 2019, at a CAGR of 6.13% during the forecast period. This growth can be attributed to factors such as reduced energy cost, extended equipment life and reduced maintenance, and the growth of the shipbuilding industry.

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Medium voltage segment - PowerPoint PPT Presentation

Marine VFD Market Revenue to Hit $1,039 Million by 2024