Asia Pacific Large Scale Medium Voltage Drives Market Size - By Voltage, By Cooling Method, By Sales Channel, By Application, By End Use, Growth Forecast, 2025 - 2034

Asia Pacific Large Scale Medium Voltage Drives Market Size

Asia Pacific large scale medium voltage drives market was estimated at USD 705.6 million in 2024. The market is expected to grow from USD 743.3 million in 2025 to USD 1.27 billion in 2034, at a CAGR of 6.1%, according to a recent study by Global Market Insights Inc.

• Rapid transformation across industrial processes along with companies prioritizing automation to boost operational efficiency and minimize downtime will complement the business landscape. Continuous technological advancements in drive systems and advanced control techniques, and replacement of traditional technologies from industrial processes. Growing environmental concerns and enforcement of strict regulations are pushing industries to adopt cleaner technologies which will augment the industry outlook.
   
• For instance, Australia’s 2025 climate law enforce strict reporting on emissions and energy use, pushing businesses toward greater transparency and accountability. Success now depends on strategic energy planning, technological innovation, and adherence to best practices. Companies that embrace these changes can transform energy management into a growth catalyst, positioning themselves as leaders in a sustainability-driven and competitive industrial landscape.
   
• Increasing need for accurate motor speed regulation and improved operational efficiency is driving widespread adoption of large-scale MV drives in industrial establishments. These systems enhance equipment performance, reliability and contribute to substantial energy savings with lower maintenance expenses. Their demand continues to grow across various industrial domains, supporting both productivity and sustainability goals.
   
• For instance, in September 2025, INVT launched its independently developed 30 MVA medium-voltage water-cooled VFD system, demonstrating a breakthrough in industrial drive technology. This innovation fills a critical market gap, offering high reliability, extended service life, and improved energy efficiency for demanding industrial applications. INVT’s R&D team overcame complex technical challenges, ensuring precision and performance throughout development. The achievement sets a new benchmark, driving progress in medium-voltage drive systems and industrial automation.
   
• Key factors such as low maintenance requirements, high operational efficiency, dependable performance, and long service life are driving the increased use of large-scale medium voltage drives. The shift from conventional drive systems to more advanced solutions is further supported by the integration of Industrial Internet of Things (IIoT) technologies and other innovations, which are expected to positively impact industrial operations and promote business growth.
   
• Ongoing utilization of advanced systems that help modernize infrastructure, improve energy utilization, and support sustainable growth is augmenting industry outlook. Stringent energy efficiency regulations and a growing shift toward renewable energy adoption toward industrial development will shape the industry dynamics.
   
• For instance, in May 2024, Japan’s ANRE and NEDO introduced the Technology Strategy for Energy Efficiency and Non-Fossil Energy Transition 2024, outlines priority technology areas essential for achieving carbon neutrality by 2050. It serves as a guide for companies and policymakers, supporting R&D planning and commercialization efforts through NEDO’s subsidy programs, while promoting the development and deployment of innovative, energy-efficient technologies across industries.
   
• China holds position in the medium voltage drive market, driven by strict environmental policies aimed at reducing carbon emissions and expanding the use of renewable energy. The country's push to modernize its industrial infrastructure, combined with government-imposed energy efficiency standards and sustainability initiatives, is shaping the market landscape and encouraging widespread adoption of advanced drive technologies.
   
• For instance, in May 2024, China’s State Council introduced a new action plan focused on energy conservation and carbon reduction for the 2024–2025 period. This initiative aims to intensify efforts as the country nears the end of its 14th Five-Year Plan and approaches its 2030 carbon peak target. The plan prioritizes high-emission industries like steel, petrochemicals, and building materials, setting clear goals for improving energy efficiency and reducing emissions, with enhanced monitoring and accountability mechanisms.
   
• The India is the fastest growing market in Asia Pacific large scale medium voltage drives market, fueled by expanding infrastructure projects, increased industrial investments, and rising demand for advanced technologies in operational processes. Paradigm shift toward energy-efficient solutions to meet evolving industrial requirements, along with the growing need for dependable motor control systems, will positively influence the industry outlook.
   
• For instance, in October 2025, India’s 2025 emission rules mandate 282 industrial units to cut greenhouse gas emissions per unit of output, based on 2023–24 benchmarks. Effective from 2025–26, the policy enables carbon credit trading and penalizes non-compliance. It enforces the Energy Conservation (Amendment) Act, 2022, demonstrating a major step toward legally binding climate action for carbon-intensive industries.
   

Asia Pacific Large Scale Medium Voltage Drives Market Trends

• The Asia Pacific large scale medium voltage drives market is set to grow driven by increasing focus on energy efficiency, automation, and industrial modernization. The continuous integration of advanced control and monitoring technologies, along with rising efforts to optimize energy usage, is shaping industrial operational standards. Additionally, flourishing investment in heavy industries such as power generation and mining, further complementing industry landscape.
   
• For instance, in January 2025, India’s Viksit Bharat 2047 vision aligns with its net-zero goal by 2070. With a 36% emission intensity reduction already achieved, it targets 45% by 2030. The 2025 budget prioritizes clean energy and green tech. Policies like the Energy Conservation Act and PAT scheme promote decarbonization, while support for startups and MSMEs reinforces India’s commitment to COP28 and sustainable development.
   
• Significant capital investment in energy-intensive sectors such as power generation, oil and gas, and mining is set to boost industry growth. These industries require high-performance, energy-efficient technologies to manage demanding operational loads. Ongoing infrastructure upgrades and accelerating advanced system adoption have fueled the need for reliable power solutions, further shaping industrial dynamics.
   
• For instance, Japan’s 7th Strategic Energy Plan emphasizes a shift to renewables to reach carbon neutrality by 2050, prioritizing offshore wind, solar, hydrogen, and ammonia. By 2040, the country targets 45 GW of offshore wind, 150 GW of solar, and 30 GW of battery storage. It also plans to capture 120 tonnes of CO₂ annually using CCS technology to support sustainable energy and industrial transitions.
   
• The increasing integration of Industry 4.0 and the Industrial Internet of Things (IIoT) have led industries to adopt large scale medium voltage drives that align with centralized control architectures and cloud-enabled analytics platforms. Ongoing enforcement of stringent energy efficiency standards and regional carbon reduction policies to adopt advanced technologies that reduce power consumption and promote sustainable industrial practices is shaping business dynamics.
   
• The growing implementation of reliable and efficient motor control solutions across diverse industrial sectors, along with ongoing advancements in automation and drive technologies, is set to augment industry outlook. Shifting emphasis on energy efficiency, precise operational control, and robust investments in industrial infrastructure to enhance reliability will further propel industry growth.
   

Asia Pacific Large Scale Medium Voltage Drives Market Analysis

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• Based on the application, the industry is segmented into pumps, fans, cranes & hoists, conveyors, compressors, extruders and others. The compressor segment dominated Asia Pacific large scale MV drives market accounting for around 13.9% market share in 2024 and is set to grow at a CAGR of over 5.8% through 2034.
   
• The rising demand for precise process control and energy-efficient technologies is driving industrial sectors to adopt advanced solutions that optimize energy usage. These systems help by adjusting motor speeds to match system requirements, minimizing energy utilization and enhancing operational adaptability. Additionally, smart compressor systems integrated with VFDs enable remote monitoring, predictive maintenance, and dynamic performance control, positively shaping the industry dynamics.
   
• For instance, September 2024, Hopewind Electric supplied nine MV drive systems to PT Lautan Steel in Indonesia, of 130 MW capacity for a hot rolling project. The installation also featured HD2000 LV drives, enhancing production efficiency and supporting stable, low-carbon industrial operations through reliable performance.
   
• The pump segment is set to propel at a growth rate of over 6% through 2034. The increasing inclination toward energy efficiency and reduced power usage under fluctuating load conditions, coupled with rise of industrial automation and smart manufacturing, is accelerating product adoption. Industries are increasingly implementing medium voltage drives in pump systems, driven by the need for intelligent solutions that offer real-time control, IIoT connectivity, flow control and support industrial processes.
   
• The conveyor application was evaluated at over USD 63 million in 2024. The expanding use of large-scale medium voltage drives in sectors including logistics, mining, and heavy manufacturing where continuous material handling is critical is driving product penetration. These units enhance conveyor system efficiency by adjusting speeds based on load, material type, and process needs. Their integration with automation platforms enables synchronized multi-conveyor operations, boosting productivity and lowering operational costs, further supporting industry growth.
   
• Based on voltage, the market is categorized into 1 kV – 2.3 kV, 3.3 kV, 4.16 kV, 5 kV – 7.2 kV, 10 kV, and > 11 kV. The > 11 KV segment is anticipated to witness significant momentum owing to rising investments across high capital-intensive projects where higher voltage levels are required including manufacturing and power generation, require efficient motor control.
   
• The 5kV–7.2kV segment is set to witness significant growth owing to rising use in industries needing high power density and operational efficiency. These units support heavy-duty applications including manufacturing and mining, where motors often exceed thousands of horsepower. The ability to deliver superior performance and aligns with the growing demand for energy-efficient solutions in power-intensive industrial environments will positively influence industry landscape.
   

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• Based on the end-use, the industry is classified into power generation, oil & gas, pulp & paper, marine, mining & metals, and others. The mining & metals segment holds 26.6% of market share in 2024 with a 5.8% CAGR by 2034.
   
• Mining & metals segment is anticipated to witness significant growth driven by continuous infrastructure upgrades, industrial development, and strict regulatory enforcement supporting clean energy initiatives. Government-backed programs, favorable policies, environmental compliance standards, and the adoption of cutting-edge technologies are instrumental in promoting the widespread use of variable frequency drives across various industrial sectors.
   
• The oil and gas industry is set to grow at over 6% CAGR by 2034, owing to the need for precise control of pressure and flow in rotating equipment across all operations. Flourishing investments in production and processing infrastructure along with ongoing exploration of hydrocarbons to cater to industry energy demand will further complement the business landscape. Rising demand for durable drive systems with fault diagnostics and remote access owing to harsh environments and remote operational sites is augmenting product deployment.
   
• The power generation application is anticipated to surpass USD 210 million through 2034. Continuous utilization of high-capacity air movement and ventilation systems across power plants, HVAC and manufacturing infrastructure is augmenting product deployment. Increasing integration of VFDs for real-time speed modulation based on pressure, temperature, and occupancy feedback, for significant energy savings along with growing inclination on enhancing safety and expanding equipment life, will positively influence the industry outlook.
   
• Based on the sales channel, the industry is categorized into direct to end-user, direct to machine builder, direct to systems integrator and distribution/partner. The direct-to-end-user sales channel for large-scale medium voltage drives is gaining significant momentum owing to rising demand for customized solutions, faster service, and improved technical support.
   
• Industrial users increasingly seek energy-efficient and digitally integrated systems tailored to specific operational needs further complementing industry outlook. Predictive maintenance, smart monitoring, and sustainability goals are driving manufacturers to engage directly, ensuring better alignment with user expectations and long-term performance optimization.
   
• Direct to systems integrators segment is set to grow driven by industries prioritizing turnkey solutions that combine drives with automation, control, and digital infrastructure. Ongoing demand for reliable solutions across complex project requirements, rapid industrial digitization, and rising need for seamless integration across platforms is influencing industry growth. Systems integrators offer expertise in deploying scalable, interoperable solutions, making them a preferred channel for sectors like manufacturing, utilities, and infrastructure where reliability and efficiency are critical.
   

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• China dominated the Asia Pacific large scale medium voltage drives market with around 47.2% share in 2024 and generated around USD 332.9 million in revenue. Rising adoption of energy-efficient motor control systems in oil & gas, power generation, and water treatment are driving industry growth. Smart grid development and decarbonization incentives are further boosting demand for advanced drive technologies across industrial sectors. Infrastructure modernization and adoption of advanced technologies along with growing inclination on energy efficiency are positively influencing the industry dynamics.
   
• For instance, in February 2024, China’s 2024 energy efficiency policy classifies products into advanced, energy-saving, and access levels. It adds 23 new items including data centers and PV modules across six categories. The initiative promotes carbon reduction and green technology adoption by raising efficiency standards for key energy-consuming equipment, supporting national sustainability goals and modernizing industrial energy practices.
   
• Additionally, government initiatives promoting sustainable technologies and energy-efficient equipment are encouraging the adoption of variable frequency drives across industrial sectors. Ongoing infrastructure development and the rise of smart manufacturing practices are facilitating the integration of advanced VFD systems into production processes and utility networks.
   
• Japan large scale medium voltage drives market is set to propel at a growth rate of over 5.7% from 2025 to 2034. Shifting focus to modernize industrial infrastructure and reduce operational expenses is accelerating the adoption of advanced technologies. The integration of automation and digital systems into industrial operations to boost productivity and optimize energy consumption further shaping industry dynamics.
   
• Introduction of favorable policies toward energy efficiency and mandates toward reducing emissions form industrial processes will complement industry outlook. For instance, in February 2025, Japan has approved new energy policies and climate targets through 2040, 60% reduction in GHG emissions by 2035 and 73% by 2040, as compared to 2013 levels. The strategy supports long-term policy stability, promotes decarbonization, and strengthens industrial competitiveness. It also aims for renewables to supply up to 50% of electricity by 2040, with nuclear contributing 20%, aligning with decarbonization under the Paris Agreement.
   
• India large scale medium voltage drives market witnessed a market share of over 8.7% in 2024. Ongoing development of industrial infrastructure, modernization of processes driven by adoption of IoT and automation along with favorable policies toward enhancing energy efficiency will complement industry landscape. Rising investments in industrial infrastructure development, coupled with increasing demand for scalable and reliable motor control technologies, are influencing market dynamics. Key sectors such as power generation, metals, and oil & gas are actively adopting advanced solutions to enhance operational efficiency and meet evolving performance requirements.
   
• For instance, in September 2025, the government of India launched a USD 1.47 billion performance-linked incentive scheme to boost domestic manufacturing in the construction equipment sector. Targeting key machinery such as tunnel boring machines, cranes, loaders, and engines, the initiative rewards manufacturers based on production output. This strategic move aims to reduce import dependency, strengthen infrastructure development, and foster a competitive ecosystem for critical equipment production.
   
• Australia large scale medium voltage drives market is set to grow at a CAGR of over 5.5% through 2034. Supportive government policies aimed at advancing industrial modernization and promoting energy-efficient technologies are accelerating the deployment of medium-voltage drives across various sectors. Additionally, challenging climatic conditions have increased the demand for resilient and high-performance equipment, further driving the adoption of technologically advanced drive systems designed to withstand harsh environments and ensure reliable operation.
   
• For instance, in October 2025, Australia’s Net Zero Plan outlines a fair and efficient transition to net zero by 2050, targeting a 62–70% emissions reduction by 2035. The Powering Australia initiative supports this through expanded renewable energy investments, including 32 GW of new capacity by 2030. These measures aim to lower emissions, stabilize energy costs, and drive clean energy.
   
• The South Korea market for large scale medium voltage drives is projected to exceed USD 21 million by 2034. Significant presence of industries including power generation, robotics, and manufacturing created a strong demand for large scale MV drives, to regulate and enhance the efficiency of high-capacity motors. Additionally, growing implementation of renewable energy initiatives across the country has accelerated the deployment for advanced drive technologies capable of handling grid integration challenges and variable load conditions, further shaping industry dynamics.
   

Asia Pacific Large Scale Medium Voltage Drives Market Share

• The top 5 players operating across the Asia Pacific large scale medium voltage drives industry include ABB, Siemens, Danfoss, Schneider Electric, and GE Vernova contribute around 45% of the market share in 2024.
   
• The market for Asia Pacific large-scale medium voltage drives is intensely competitive, with numerous companies prioritizing technological advancements and strategic alliances including mergers & acquisitions, partnerships, collaborations and joint ventures to enhance their market presence. The growing incorporation of IoT, digital platforms, and performance-enhancing solutions is prompting manufacturers to pursue innovative strategies that cater to evolving industrial requirements and expand their industry footprint.
   
• Despite economic uncertainties, the Asia Pacific large-scale medium voltage drives market has demonstrated significant resilience in recent years. By 2023 & 2024, improvements in supply chain management and increased focus on energy-efficient technologies have accelerated product adoption across various industries. This upward trend persisted in 2025, fueled by flourishing investments in industrial infrastructure, stringent environmental and emission regulations, and a widespread adoption of sustainable, reliable motor control solutions.
   
• Schneider Electric’s Altivar 1200 is a state-of-the-art MV AC drive designed to deliver enhanced energy management and operational efficiency. It supports Industrial IoT capabilities, making it ideal for sectors such as oil & gas, mining, and power generation. The drive ensures seamless integration across voltage platforms, enabling precise motor control and contributing to optimized performance in demanding industrial environments.
   
• Siemens provides a range of enclosed drive systems engineered for high reliability, safety, and adaptability. From compact SINAMICS G120XE MINI units to large regenerative motor modules, each solution is factory-tested and ready for deployment. Cabinets primarily include integrated disconnects, user interfaces, protection mechanisms, and optional features, ensuring smooth installation and dependable operation across diverse industrial applications and environments.
   
• Danfoss provides VACON 3000, a modular medium-voltage drive suitable for OEMs and system integrators seeking flexible and customizable motor control solutions. Its scalable architecture allows easy configuration and maintenance, while supporting seamless integration into complex industrial systems. The drive enhances operational efficiency and reliability, making it suitable for a wide range of applications requiring precision and adaptability.
   
• ABB offers a comprehensive portfolio of medium-voltage AC drives ranging from 200 kW to over 150 MW, designed for high-efficiency performance in industrial sectors. These drives support applications including marine propulsion, pumps, rolling mills, fans, and grid systems. With advanced control features and robust design, ABB’s solutions ensure energy savings, precise speed regulation, and dependable operation in challenging environments.
   
• GE Vernova offers MV7000 drive system, that delivers efficient and adaptable control of electrical power across a broad spectrum of industrial equipment. It supports both induction and synchronous motors, offering high-performance vector control throughout the entire speed range. For applications involving multiple drives, both motoring and regenerating, a shared DC link powered by a single active front end helps reduce equipment costs and minimize system footprint.
   

Asia Pacific Large Scale Medium Voltage Drives Market Companies

Major players operating in the Asia Pacific large scale medium voltage drives industry are:

• ABB
• Amtech
• CG Power & Industrial Solutions
• Danfoss
• Eaton
• Fuji Electric
• GE Vernova
• Hiconics Eco-energy Technology
• Ingeteam Power Technology
• Invertek Drives
• Nidec Corporation
• NOKER Electric
• Rockwell Automation
• Schneider Electric
• Shenzhen INVT Electric Co., Ltd
• Siemens
• TMEIC
• Triol Corporation
• Veikong Electric
• WEG
• Yaskawa Electric Corporation

• Schneider Electric recorded USD 22.6 billion in revenue during the first half of 2025 and USD 44.8 billion for the full year 2024, with a profit of USD 19.1 billion. Its Altivar series of drives are designed to enhance motor control, improve energy efficiency, and ensure system reliability. These solutions cater to a wide range of industrial applications, offering advanced features for optimized performance and operational sustainability.
   
• GE Vernova’s medium-voltage VFD combines electric motors with voltage source inverters to deliver efficient control across industrial applications. The company reported USD 17.14 billion in revenue for H1 2025, with full-year 2024 revenue reaching USD 34.93 billion. These solutions are engineered for flexibility and reliability, meeting the evolving needs of industries focused on performance and energy optimization.
   
• In Q3 2025, Siemens reported a 28% rise in comparable orders and a 3% increase in revenue, reaching USD 22.6 billion. For 2024, total revenue stood at USD 88.5 billion. Siemens provides pre-configured enclosed drive systems designed for high performance, safety, and adaptability. These systems offer a wide range of customizable options, ensuring seamless integration and reliable operation across diverse industrial environments.
   
• ABB posted strong Q2 2025 results with USD 8.9 billion in revenue, marking an 8% year-over-year increase and 6% growth on a comparable basis. Its 2024 revenue totaled USD 32.9 billion. ABB’s medium-voltage drives span from 200 kW to over 150 MW, supporting applications such as compressors, fans, marine systems, and grid simulators. These drives deliver precise control, energy efficiency, and robust performance in demanding industrial applications.
   

Asia Pacific Large Scale Medium Voltage Drives Industry News

• In October 2025, INVT presented advanced port technologies at the Smart Port Conference in Qingdao, focusing on container and bulk cargo terminal applications. Their comprehensive drive system solutions now support equipment like quay cranes, RTGs, AGVs, ship loaders, and shore power systems across port operations. INVT’s GD5000 and GD880 drives deliver exceptional performance under demanding conditions, ensuring long-term operational stability and efficiency. These innovations enhance port automation, reduce energy consumption, and improve overall throughput and reliability.
   
• In September 2025, VEIKONG’s VFD500 series drives were integrated into automation systems, by a major industry player, showcasing trust in their reliability and performance. The VFD500 series offers precise control, energy efficiency, and strong anti-interference capabilities, ideal for demanding industrial environments and smart manufacturing. Its successful deployment highlights adaptability under harsh conditions, ensuring stable long-term operation and reduced maintenance.
   
• In December 2024, V&T showcased its advanced frequency converters at the Indonesian Manufacturing Expo, drawing attention for their performance and reliability in industrial applications. The VTS800 series, featuring modular design and a common DC busbar, offers simplified installation, reduced cabinet size, and lower energy costs. These converters support diverse sectors like elevators, metallurgy, and lifting, enhancing operational efficiency. V&T’s innovation and full IP ownership reinforces its leadership in power electronics and automation technologies.
   
• In November 2024, WEG announced a USD 62 million investment to expand its Rugao, China facility, addressing rising demand in the region. The plan includes increased component production, local assembly, and a new 30,000 m² factory for high-voltage motor manufacturing, completing in 2026. This expansion supports WEG’s strategy for sustainable growth and market leadership in China’s industrial motor sector. WEG aims to deliver innovation, speed, and excellence to meet evolving customer expectations.
   

The Asia Pacific large scale medium voltage drives market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” and volume in terms of “Units” from 2021 to 2034 for the following segments:

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Market, By Voltage

• 1 kV – 2.3 kV
• 3.3 kV
• 4.16 kV
• 5 kV – 7.2 kV
• 10 kV
• > 11 kV

Market, By Cooling Method

• Air cooled
• Liquid cooled

Market, By Sales Channel

• Direct to end use
• Direct to machine builder
• Direct to systems integrator
• Distribution/partner

Market, By Application

• Pump
• Fan
• Cranes & hoists
• Conveyor
• Compressor
• Extruder
• Others

Market, By End Use

• Oil & Gas
• Power generation
• Mining & metals
• Pulp & paper
• Marine
• Others

The above information has been provided for the following countries:

• China
• Japan
• India
• Australia
• South Korea
• Thailand
• Singapore
• Malaysia
• Vietnam
• Indonesia