Medium Voltage AC Drives Market Size

Medium Voltage AC Drives Market Size

Medium Voltage AC Drives Market size valued at USD 1.4 billion in 2022 and is estimated to grow at a 5.8% CAGR from 2023 to 2032. On account of the increasing demand for energy-efficient motor control solutions and the need for process optimization in industries. Ongoing technological advancements and the growing aMedium Voltage AC Drives Market size valued at USD 1.5 billion in 2023 and is estimated to grow at a 5.9% CAGR from 2024 to 2032.option of automation in various sectors have also contributed to market growth.

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The rising demand for energy-efficient units in the industrial automation sector driven by the need to reduce energy consumption and promote environmental sustainability, which is supported by stringent government mandates is set to influence the industry outlook. Furthermore, the industry is focusing on technical enhancements and introducing the Industrial Internet of Things (IIoT) to offer efficient sizing of systems to optimize and ensure energy efficiency, further supporting medium voltage AC drives market growth.

Medium voltage AC drives are also known as medium voltage variable frequency drives (VFDs), are the electronic devices that are utilized to control the speed, acceleration, torque, deceleration, and rotation direction of motor by changing the frequency of electrical supply to the motors. These units operate by converting the incoming AC power into DC power, which is then converted back into AC power with a variable frequency and voltage output that matches the requirements of the motor.