Home > Semiconductors & Electronics > Automation > Industrial Automation > Medium Voltage Drives Market

Medium Voltage Drives Market Trends

Report ID: GMI5193
Published Date: Aug 2023
Report Format: PDF

Download Free Sample

Medium Voltage Drives Market Trends

Ongoing renovation activities across small, medium, and large-scale industrial infrastructures coupled with stringent energy-efficiency protocols will augment the product deployment. In addition, shifting consumer perspectives to reduce the operational expenditure with lower energy bills from heavy-duty operations coupled with positive uptake of green power generation technologies will further boost the T&D networks and installation potential for these products. Despite these, respective government agencies have introduced new measures to reduce the overall greenhouse gas emissions from industrial establishments promoting the installation of energy-efficient alternatives, thereby complementing the medium voltage drives market growth.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of medium voltage drives exceeded USD 1.8 billion in 2022 and will register 5.7% CAGR through 2032, due to the rising demand for precise control of motor speed, enhanced energy efficiency operations, and increasing investments across heavy-duty industrial operations worldwide.

Medium voltage drives market size from the AC drive segment reached USD 1.4 billion in 2022, impelled by rising need for process optimization across industries and the expanding demand for motor control solutions.

Asia-Pacific market size for medium voltage drives recorded USD 0.34 billion in 2022 and will witness substantial growth through 2032, due to the fast-paced urbanization & industrialization in the region.

Some of the influential medium voltage drives companies are Siemens, Johnson Controls, Danfoss, Eaton, Ingeteam Power Technology, S.A, ABB, WEG, Schneider Electric, Fuji Electric Co., Ltd., Rockwell Automation, and Nidec Industrial Solutions.