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1063023

Medium Voltage AC Drive Market: Current Analysis and Forecast (2021-2027)

Published: | UnivDatos Market Insights Pvt Ltd | 328 Pages | Delivery time: 1-2 business days

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Medium Voltage AC Drive Market: Current Analysis and Forecast (2021-2027)
Published: February 1, 2022
UnivDatos Market Insights Pvt Ltd
Content info: 328 Pages
Delivery time: 1-2 business days
  • Description
  • Table of Contents

Medium Voltage AC Drive Market is anticipated display a CAGR of around 4% over the forecast period (2021-2027). The Global Medium Voltage AC Drive Market is experiencing significant growth due to the increased demand for building automation systems, rising global demand for energy efficient electrical products, and increase in urban population and rise in industrialization activities are the key factors complementing the Medium Voltage AC Drives market.

AC drives are used for regulating the velocity of electric motors and function by fluctuating the frequency, magnetic flux and voltage in the motor's circuit. They are used to achieve effective control over the motor's speed and reduce energy consumption. Owing to this, they are employed across the oil and gas, power generation, building automation, food and beverage, and metals and mining sectors. Furthermore, the low energy consumption of AC drives is one of the prime factors that is driving the growth in the market. They adopt energy-saving techniques, which avoid strain on natural resources and offer a greater return on investment and efficiency. The use of these devices also reduces disturbances in the power supply and lowers carbon dioxide emissions.

During the COVID-19 pandemic in the early 2020, majority of the countries and region witnessed a country wide lockdown. This has impacted the overall demand for medium voltage AC drive market. Globally countries witnessed economic slowdown. Majority of decline was witnessed in the industrial sector, where countries had imposed shut down of manufacturing facilities to reduce the spread of COVID-19. All these factors affected the market for Medium Voltage AC Drive in a negative way.

Insights Presented in the Report

"Amongst Converter Type, Voltage Source Inverter Category to Hold Significant Share in 2020"

Based on converter type, the market is bifurcated into voltage source inverter, current source inverter, and load commutated inverter. The voltage source inverter category grabbed significant market share of the global medium voltage AC drive market and gathered revenue of USD XX billion in 2020. This is mainly due to the increase in industrialization in emerging markets such as China, India, Brazil, Mexico, among others. Furthermore, increase in demand for energy efficiency devices coupled with growing demand for medium voltage AC drives in across power generation, building automation, and water & wastewater sectors. Wastewater treatment industry has been witnessing rise in use of medium voltage AC drives, enabling pumps to accommodate the fluctuating demand by running these pumps at a lower speed and thereby consuming less amount of energy.

"Amongst Enclosure, Liquid Cooled Category to Witness Highest CAGR During the Forecast Period."

On the basis of enclosure, the market is classified into liquid cooled and air cooled. Among these, liquid cooled category to witness faster CAGR during the forecast period owing to hyperscale adoption and a growing need for greener, more efficient drive across industries, globally. Furthermore, the liquid cooled drive manufacturers have implemented various types of organic and inorganic growth strategies, such as new product launches, product upgradations, partnerships and agreements, business expansions, and mergers and acquisitions to strengthen their offerings in the market as well as to increase adoption of these drives in major end-use industries. For instance, ABB Ltd. offers ACS1000, a medium voltage AC drive which boasts features such as Direct Torque Control (DTC), Power range 315 kW up to 5 MW, and water cooled compatibility. It has applications in Mining, Marine, Power, Water & Wastewater, Oil & Gas, Pulp & Paper, among others.

"Amongst Application, Compressors category to hold significant share in 2020"

On the basis of application, the market has been categorized into pumps, fans, compressors, conveyors, and others. In 2020, compressor category to account for significant share in the global market. Compressors equipped with drives can adjust speed, maximize production efficiency, and improve mechanical resonances. It also reduces operational and electrical stresses on the motor. Furthermore, compressors are widely used in oil and gas industry. Increased use of different types of compressors in upstream, midstream and downstream sectors for several distinctly different applications, such as transmission, storage, gas gathering, gas lift, gas injection, flash gas compression, refrigeration, etc. is further expected to support the market growth.

"Asia-Pacific will Dominate the Market During the Forecast Period"

For a better understanding of the market adoption of Medium Voltage AC Drive, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific), and Rest of World. Asia Pacific constitutes the largest market for the industry in 2020 on account of growing investments in oil and gas, building automation, industrialization in different countries of the region. The region is expected to dominate the Medium Voltage AC Drive market during the forecast period, as the region is hub for manufacturing electronics components and devices corresponding to various industries. For heating, ventilation, and air-conditioning systems used in the commercial and industrial sector, the medium voltage AC drives find wide usage as they can handle the variable load in several components, like chillers. The drives helps allow peak capacity to meet the high demands of peak loads in constant flow HVAC systems and then slowly control the energy with decreasing need for the load.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

The Medium Voltage AC Drive Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Product Code: UMEP21657

TABLE OF CONTENTS

1 MARKET INTRODUCTION

  • 1.1. Market Definitions
  • 1.2. Limitation
  • 1.3. Stakeholders
  • 1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

  • 2.1. Research Process of the Medium Voltage AC Drive Market
  • 2.2. Research Methodology of the Medium Voltage AC Drive Market
  • 2.3. Forecasting Method
  • 2.4. Respondent Profile
  • 2.5. Main Objective of the Medium Voltage AC Drive Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 MEDIUM VOLTAGE AC DRIVE MARKET COVID-19 IMPACT

6 MEDIUM VOLTAGE AC DRIVE MARKET REVENUE (USD MN), 2019-2027F

7 MARKET INSIGHTS BY CONVERTER TYPE

  • 7.1. Voltage Source Inverter
  • 7.2. Current Source Inverter
  • 7.3. Load Commutated Inverter

8 MARKET INSIGHTS BY ENCLOSURE

  • 8.1. Liquid Cooled
  • 8.2. Air Cooled

9 MARKET INSIGHTS BY VOLTAGE

  • 9.1. 3 KV to 7 KV
  • 9.2. 7.1 KV to 14 KV
  • 9.3. 14.1 KV to 35 KV

10 MARKET INSIGHTS BY APPLICATION

  • 10.1. Pumps
  • 10.2. Fans
  • 10.3. Compressors
  • 10.4. Conveyors
  • 10.5. Others

11 MARKET INSIGHTS BY END-USER

  • 11.1. Oil & Gas
  • 11.2. Water & wastewater
  • 11.3. Power generation
  • 11.4. Building Automation
  • 11.5. Food & Beverage
  • 11.6. Metals & Mining
  • 11.7. Chemicals & Petrochemicals
  • 11.8. Other

12 MARKET INSIGHTS BY REGION

  • 12.1. North America
    • 12.1.1. US
    • 12.1.2. Canada
    • 12.1.3. Rest of North America
  • 12.2. Europe
    • 12.2.1. Germany
    • 12.2.2. UK
    • 12.2.3. France
    • 12.2.4. Italy
    • 12.2.5. Spain
    • 12.2.6. Rest of Europe
  • 12.3. Asia-Pacific
    • 12.3.1. China
    • 12.3.2. Japan
    • 12.3.3. India
    • 12.3.4. Australia
    • 12.3.5. Rest of Asia-Pacific
  • 12.4. Rest of World

13 MEDIUM VOLTAGE AC DRIVE MARKET DYNAMICS

  • 13.1. Market Drivers
  • 13.2. Market Challenges
  • 13.3. Impact Analysis

14 MEDIUM VOLTAGE AC DRIVE MARKET OPPORTUNITIES

15 MEDIUM VOLTAGE AC DRIVE MARKET TRENDS

16 VALUE CHAIN ANALYSIS

17 DEMAND AND SUPPLY SIDE ANALYSIS

  • 17.1. Demand Side Analysis
  • 17.2. Supply Side Analysis
    • 17.2.1. Top Product Launches
    • 17.2.2. Top Business Partnerships
    • 17.2.3. Top Business Expansions
    • 17.2.4. Top Merger and Acquisitions

18 COMPETITIVE SCENARIO

  • 18.1. Porter's Five Forces Analysis
    • 18.1.1. Bargaining power of Supplier
    • 18.1.2. Bargaining power of Buyer
    • 18.1.3. Industry Rivalry
    • 18.1.4. Availability of Substitute
    • 18.1.5. Threat of New Entrants
  • 18.2. Competitive Landscape

19 COMPANY PROFILED

  • 19.1. ABB Ltd.
  • 19.2. Schneider Electric SE
  • 19.3. Hitachi Ltd.
  • 19.4. Rockwell Automation Inc.
  • 19.5. NIDEC CORPORATION
  • 19.6. Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
  • 19.7. YASKAWA ELECTRIC CORPORATION
  • 19.8. Honeywell International Inc.
  • 19.9. Siemens AG
  • 19.10. Fuji Electric Co. Ltd.

20 DISCLAIMER