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Medium Voltage Drives Market Size
- Report ID: GMI5193
- Published Date: Aug 2023
- Report Format: PDF
Medium Voltage Drives Market Size
Medium Voltage Drives Market size was valued at USD 1.8 billion in 2022 and is poised to witness over 5.7% CAGR between 2023 and 2032. Growing demand for precise control of motor speed, enhanced energy efficiency operations, and increasing investments across heavy-duty industrial operations will proliferate the business dynamics. Moreover, setup of new infrastructures with advanced pumps, compressors, fans, conveyors, rolling mills, and large-scale HVAC systems with low energy consumption characteristics will further favor the market growth.
Medium voltage drives are sometimes referred to as variable frequency drives (VFDs), are widely integrated across higher voltage levels and power capacities to regulate the speed of electric motors in industrial applications. These products play a significant role in optimizing energy consumption by controlling motor speed and power output, leading to substantial energy savings and reduced carbon footprint positively catering to the industry growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Medium Voltage Drives Market Size in 2022: | USD 1.8 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.8% |
| 2032 Value Projection: | USD 3 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 640 |
| Tables, Charts & Figures: | 905 |
| Segments covered: | Power Range, Drive, Application, End-Use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Medium Voltage Drives Market Scope
