Medium Voltage Drives Market to Surpass a Valuation of US$ 2,151.4Mn by 2032 Owing to the Voltage Source Inverter Segment: ChemView Consulting

Medium Voltage Drives Market Overview

According to a recent survey conducted by ChemView Consulting, the Global Medium Voltage Drives Market grew at a CAGR of 3.5% between 2017-2021 and is estimated to be US$ 1,439.5Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.1% and is expected to reach a valuation of US$ 2,151.4Mn by 2032 end.

Industrial facilities always work to implement energy-efficient tools since running varied industrial equipment requires larger energy consumption. It has become mandatory to reduce electricity consumption due to tight requirements for lowering carbon emissions.

As a result, a medium voltage drive, also known as an mv drive, has become a useful instrument for the greater performance of electric motors utilized in businesses with lower electricity usage. High-voltage VFD drives are used by industries using electric motors with greater capacity, and they provide users with similar benefits to those of medium-voltage VFDs.

ChemView Consulting has analyzed that even though medium voltage drives offer capital and operational cost advantages over comparable options, it is still important to choose the best industry for each end-use application. Rockwell Automation, Inc., a provider of industrial automation and information technology with headquarters in the United States, is becoming aware of this gap and expanding its lineup of general-purpose and specialty medium-voltage drives.

A voltage source inverter, often known as a VSI, is a converter that changes a voltage’s waveform from unidirectional to bidirectional or from DC to AC. The optimum voltage source inverter maintains a consistent voltage throughout the operation.

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Segments Covered in Report

By Converter Type:

  • Voltage Source Inverter
  • Current Source Inverter
  • Load Commutated Inverter

By End-User:

  • Oil & Gas
  • Power Generation
  • Pulp & Power
  • Cement
  • Metal & Mining
  • Others (including HVAC Systems)

By Application:

  • Pumps
  • Fans
  • Compressors
  • Conveyors
  • Others (including Cranes and Hoists)

By Voltage:

  • 3 KV to 7 KV
  • 1 KV to 14 KV
  • 1 KV to 35 KV

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Key Takeaways from the Medium Voltage Drives Market

  • Based on the converter type, a voltage source inverter, often known as a VSI, is a converter that changes a voltage’s waveform from unidirectional to bidirectional or from DC to AC. The optimum voltage source inverter maintains a consistent voltage throughout the operation.
  • Based on the application, industrial settings with larger versions of these appliances requiring more energy are where medium voltage drives are put. Pump sets are the most desirable market for medium voltage VFD producers since they consume substantial energy in manufacturing units.
  • Based on the region, Asia-Pacific is anticipated to develop profitably over the projected period, with a market share of 42.3%, because of China’s extensive use of solar trackers for electricity generation. According to estimates, good government measures will also accelerate regional growth.

Competition Summary

Key companies covered in the market study are ABB, Schneider Electric, Hitachi, Ltd., Rockwell Automation, Inc., Nidec Industrial Solutions (NIDEC CORPORATION), Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), YASKAWA ELECTRIC CORPORATION, Honeywell International Inc., Siemens, Fuji Electric Co., Ltd., Spartan Controls, Amtech, Danfoss, TECO Electric Europe Ltd

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Report Key Highlights and Coverage

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impact market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.

About ChemView Consulting

ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.

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