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Middle East & Africa Low Voltage Drives Market Size

Report ID: GMI5074
Published Date: Jul 2023
Report Format: PDF

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Middle East & Africa Low Voltage Drives Market Size

Middle East & Africa Low Voltage Drives Market size was valued at USD 700 million in 2023 and is anticipated to observe a growth rate of 4.1% between 2024 and 2032, owing to the rising investment in infrastructure driven by rapid urbanization and industrial development. Moreover, the expansion of electricity capacity necessitates reliable networks, reduced maintenance requirements, longer equipment lifespan, lower energy consumption, and efficient generation and supply costs driving the product installation across the region.

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Low voltage drives are a type of variable frequency drives (VFDs) that are designed to control the speed & torque of electric motors by varying the voltage and frequency supplied to the motor. The devices are integrated to offer precise control of motor speed, allow energy savings, improved process control, and reduced wear and tear on the motor. In addition, these drives can significantly reduce energy consumption by optimizing the motor operations and improving the overall energy efficiency propelling their adoption potential over the years.

Middle East & Africa Low Voltage Drives Market Report Attributes
Report Attribute	Details
Base Year:	2023
Middle East & Africa Low Voltage Drives Market Size in 2023:	USD 700 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.1%
2032 Value Projection:	USD 1.1 Billion
Historical Data for:	2019 to 2023
No. of Pages:	540
Tables, Charts & Figures:	808
Segments covered:	Power Range, Capacity, Drive, Technology, System, Application, End-Use, and Country
Growth Drivers:	Rising electricity demand along with adoption of energy efficient systems Accelerating investments for the development of industrial infrastructure Rapidly increasing energy demand Encouraging regulatory framework to support deployment of energy efficient alternatives
Pitfalls & Challenges:	Significant cost of initial deployment coupled with availability of alternatives for higher capacities

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Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market size for low voltage drives in Middle East & Africa reached USD 700 million in 2023 and may observe 4.1% CAGR from 2034 to 2032, due to the higher demand for low voltage drives and rising investments in infrastructure driven by rapid urbanization and industrial development.

Middle East & Africa ? 500 kW low voltage drives market is projected to witness over 4% CAGR during 2023 to 2032, owing to the increasing demand for reliable and high-performance drives in the oil & gas sector.

The pump application segment surpassed USD 250 million in 2022, driven by increasing demand in the oil & gas industry for crude oil extraction, well drilling, fluid transportation, and refinery processes.

Saudi Arabia market size dominated around USD 150 million in 2022, attributed to the rising trend for the adoption low voltage drives across various industries to enhance energy efficiency and optimize operations in the country.