Global Marine VFD Market accounted for US$ 759.82 million in 2020 and is estimated to be US$ 1372.07 million by 2030 and is anticipated to register a CAGR of 6.1%. VFD (variable frequency drive) is a type of cost-effective electrical equipment used to control the speed and torque of an electric motor. Pumps, fans, compressors, propulsion, cranes, and hoists are just a few examples of marine applications. AC drive and DC drive are the two types of marine VFDs. The main advantages of marine VFDs include energy conservation combined with speed control, improved effectiveness of motor-driven devices, and offers advantages of network connectivity with ease of setup, all of which are expected to contribute to the market's growth over the forecast period.