PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1618243
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1618243
Medium Voltage Drives Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Medium Voltage Drives Market, valued at USD 1.8 billion in 2023, is projected to expand at a CAGR of 5.8% from 2024 to 2032. Rising industrial demand for energy-efficient solutions and optimized motor control systems are expected to be primary growth drivers. These drives, which control motor speed and torque, significantly enhance energy efficiency, reduce operational costs, and decrease emissions-factors propelling the market forward. In terms of power range, the 1-3 MW segment is set to exceed USD 950 million by 2032. Increasing emphasis on process optimization and the demand for reliable motor control technologies are accelerating product adoption across industries. Additionally, the Industrial Internet of Things (IIoT) and widespread automation in industrial processes are shaping the market growth trajectory.
There is also growing interest in scalable, customizable solutions capable of managing large motors in specific industrial infrastructures, further driving the deployment of medium voltage (MV) drives on a large scale. Based on drive type, the AC drive segment is expected to grow at a CAGR of over 5.5% through 2032. Technological advancements, including intelligent features and IoT capabilities, have enhanced the performance and versatility of AC drives. Increased investments in industrial automation and the adoption of Industry 4.0, which leverages advanced robotics and cutting-edge technologies, fuels demand for medium-voltage AC drives. U.S. medium voltage drives market is expected to exceed USD 450 million by 2032. Heightened investments in the manufacturing sector and greater utilization of high-power machinery drive adoption in this region.
Rising energy needs, combined with a shift towards energy-efficient technologies, are reinforcing market expansion. The growing deployment of high-performance, efficient motors in energy-intensive manufacturing operations contributes to the rise of the North American medium voltage drives market. Additionally, strict government standards focused on decreasing emissions from industrial facilities and promoting the use of energy-efficient alternatives support the industry's growth. The global medium voltage drives market is poised for robust growth as industries worldwide prioritize energy efficiency, cost reduction, and sustainable practices.Technological advancements, automation trends, and regulatory incentives are expected to play key roles in shaping the market landscape over the coming years.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $1.8 Billion |
| Forecast Value | $3 Billion |
| CAGR | 5.8% |
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market definition
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid
- 1.4.2.2 Public
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Regulatory landscape
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls & challenges
- 3.4 Growth potential analysis
- 3.5 Porter's analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
- 3.6 PESTEL analysis
Chapter 4 Competitive landscape, 2024
- 4.1 Introduction
- 4.2 Strategic dashboard
- 4.3 Innovation & sustainability landscape
Chapter 5 Market Size and Forecast, By Power Range, 2021 - 2032 (USD Million, Units)
- 5.1 Key trends
- 5.2 <= 1 MW
- 5.3 1 MW - 3 MW
- 5.4 3 MW - 7 MW
- 5.5 > 7 MW
Chapter 6 Market Size and Forecast, By Drive, 2021 - 2032 (USD Million, Units)
- 6.1 Key trends
- 6.2 AC
- 6.3 DC
- 6.4 Servo
Chapter 7 Market Size and Forecast, By Application, 2021 - 2032 (USD Million, Units)
- 7.1 Key trends
- 7.2 Pump
- 7.3 Fan
- 7.4 Conveyor
- 7.5 Compressor
- 7.6 Extruder
- 7.7 Others
Chapter 8 Market Size and Forecast, By End Use, 2021 - 2032 (USD Million, Units)
- 8.1 Key trends
- 8.2 Oil & Gas
- 8.3 Power generation
- 8.4 Mining & metals
- 8.5 Pulp & paper
- 8.6 Marine
- 8.7 Others
Chapter 9 Market Size and Forecast, By Region, 2021 - 2032 (USD Million, Units)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Russia
- 9.3.7 Denmark
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 Japan
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 South Korea
- 9.5 Middle East & Africa
- 9.5.1 Saudi Arabia
- 9.5.2 UAE
- 9.5.3 South Africa
- 9.6 Latin America
- 9.6.1 Brazil
- 9.6.2 Argentina
Chapter 10 Company Profiles
- 10.1 ABB
- 10.2 CG Power & Industrial Solutions
- 10.3 Danfoss
- 10.4 Delta Electronics
- 10.5 Eaton
- 10.6 Fuji Electric
- 10.7 General Electric
- 10.8 Hitachi Hi-Rel Power Electronics
- 10.9 Ingeteam Power Technology
- 10.10 Johnson Controls
- 10.11 Nidec Industrial Solutions
- 10.12 Rockwell Automation
- 10.13 Schneider Electric
- 10.14 Siemens
- 10.15 TECO-Westinghouse
- 10.16 TMEIC
- 10.17 WEG
- 10.18 Yaskawa Electric
