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Asia Pacific Medium Voltage Drives Market Share

Report ID: GMI5395
Published Date: Nov 2022
Report Format: PDF

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Asia Pacific Medium Voltage Drives Market Share

Some of the top companies operating in the industry are

Siemens
ABB
Danfoss
Fuji Electric Co., Ltd.
Schneider Electric
GE
Rockwell Automation Inc.
Eaton
Honeywell International, Inc.
Hitachi Hi-Rel Power Electronics Private Limited
Toshiba-Mitsubishi Electric Industrial Systems Corporation (TMEIC)
Delta Electronics, Inc.
Teco Electric & Machinery Pte Ltd
VEM Group
Hiconics Eco-energy Technology Co., Ltd.
Triol Corporation

These leaders are focusing on strategic product launches to increase their portfolio and strengthen their market position.

Citing an instance, in March 2021, Fuji Electric unveiled the FRENIC-MEGA drive which regulates the torque or rotational speed of an AC motor. This unit provides optimal equipment operations and helps VT applications save energy. These MV drives were designed to address the increasing demand for stable and precise speed control of equipment to improve productivity. This product launch was aimed at expanding the product portfolio of the company in the MV inverter drives sectors.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of APAC MV drives crossed USD 800 million in 2023 and is anticipated to depict over 5.3% CAGR between 2024-2032, due to a growing focus on renewable technologies.

The ? 1 MW power range segment is projected to exceed USD 300 million by 2030, on account of accelerated expansion of grid infrastructure.

MV drives market in China was surpassed USD 390 million in 2021, owing to increased R&D initiatives to improve the operational efficiencies of motors and drives, alongside consistent grid infrastructure development.

Siemens, ABB, Danfoss, Fuji Electric Co., Ltd., Schneider Electric, GE, Rockwell Automation Inc., Eaton, and WEG are some of the companies operating in the industry.