Asia Pacific Medium Voltage Drives Market Analysis

Asia Pacific Medium Voltage Drives Market Analysis

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APAC medium voltage drives market value from the ≤ 1 MW power range segment is expected to surpass USD 300 million by 2030. Growing demand for sustainable equipment with reduced operational and mechanical costs will increase the adoption of medium voltage drives. Furthermore, current technological advancements enhancing motor systems have augmented product adoption. In addition, supportive regulatory norms emphasizing the development of sustainable infrastructure will contribute to industry development in the region.
 

The AC drive segment is anticipated to register more than 4% growth rate between 2022 and 2030. This growth is attributed to the broad feature range of AC medium voltage drives. These units offer high reliability, direct torque control, remote access, design flexibility, and in-built drive monitoring, among other benefits. Additionally, the rising preference for effective systems in industrial applications such as conveyors, compressors, extruders, mixers, fans, and grinding mills to optimize energy usage will further proliferate product consumption.
 

Asia Pacific medium voltage drives market from compressor applications is poised to reach nearly USD 90 million by 2030. Medium voltage drives are used extensively in process compressors, especially in the petrochemical and chemical industries. The use of these drives in compressor units can offer effective process operations and improved energy savings. The deployment of advanced compressors in industrial sectors such as chemical to enhance production efficiency will foster the development of critical components.
 

In terms of end-use, the mining & metals segment accounted for around USD 230 million in 2021. Rapid advancements in production technologies are enabling the introduction of efficient and reliable systems designed for harsher industrial environments such as mines. Moreover, the rising demand for high-cost metals across different verticals will increase the usage of systems with minimal downtime and, in turn, augment industry dynamics in the region.
 

Medium voltage drives market value in China recorded USD 390 million in 2021. The introduction of expansive R&D projects focusing on the operational attributes of medium voltage drives and motors, alongside consistent grid infrastructure developments has increased the demand for advanced energy systems. The extended capacity of motors & drives provides maximized energy output and energy savings, which will foster the deployment of sustainable MV drives in the country and contribute to regional industry growth.