Market Overview:
The global medium voltage AC drives market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for energy-efficient and reliable drive systems across various industries. In addition, the growing trend of Industry 4.0 is also expected to boost the demand for medium voltage AC drives in the coming years. Based on type, V/F control was the largest segment in 2017 and is projected to grow at a CAGR of 5% during the forecast period from 2018 to 2030. This can be attributed to its ability offer high efficiency and reliability compared with other types of control methods.
Product Definition:
Medium Voltage AC Drives are devices that use alternating current to power motors. They are used to control the speed and torque of a motor, and can be used in a variety of applications. Medium Voltage AC Drives are important because they allow users to optimize the performance of their machines, while also conserving energy.
V/F Control:
V/F control is a power electronic device that monitors the voltage and frequency of an electric current. It's major applications are in medium voltage AC drives, which are used for various industrial processes such as heating, ventilation and air conditioning (HVAC), material handling equipment, process automation systems and others. The growth factor in this market is high demand from developing countries such as India & China where manufacturing activities have been growing at a rapid pace over the past few years.
Slip Frequency Control:
Slip frequency control is a device used to reduce the high speed of a power machine and is achieved by reducing the slip that occurs due to internal resistances in machines. It works on the principle of creating an electrical short circuit between two conductors which reduces the frequency of occurrence of high speed.
Application Insights:
Based on application, the market is segmented into power generation, mining, metal processing plant, other and others. The power generation segment dominated the global medium voltage AC drives market in 2017 owing to an increase in demand for clean energy across various industries such as wind energy and solar energy. Furthermore, a rise in industrialization has led to an increased need for electricity across developing countries such as India and China.
The growth of renewable sources of energy along with increasing investments by governments worldwide has driven manufacturers towards developing electric motors that can be used with these sources of renewable energy. This trend is expected to continue over the forecast period due to favorable government policies regarding green technologies that are aimed at reducing carbon emissions from combustion engines while promoting use of electric motors over diesel-based engines globally.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period. The growth can be attributed to increasing demand for power in emerging economies, such as China and India. In addition, rising number of hydroelectric projects in China and India are likely to boost market growth over the next eight years.
Europe was valued at USD X million in 2017 owing to high consumption of medium voltage AC drives across various applications including metal processing plants and power stations. Germany accounted for a major share due to presence of numerous manufacturers including Siemens AG; ABB Ltd.; Alstom; General Electric; Bosch Rexroth GmbH & Co., KGaA; Schaeffler Group Ltd.; HEG Electronics GmbH & Co., KG along with other European countries having strong industrial base for electronics manufacturing companies like VEBA und Infineon Technologies SIA.
North America is anticipated witness moderate growth rate on account of growing usage rates across U.S.
Growth Factors:
- Increasing demand for energy-efficient solutions: The global medium voltage AC drives market is expected to grow at a CAGR of 6.5% from 2017 to 2025, owing to the increasing demand for energy-efficient solutions across various industries.
- Rising industrialization and urbanization in developing countries: The growth of the medium voltage AC drives market is also attributed to the rising industrialization and urbanization in developing countries, which has led to an increase in the demand for advanced technologies and equipment across various industries.
- Growing investments in renewable energy sources: Medium voltage AC drives are being increasingly used for renewable power plants as they offer better efficiency than traditional methods of power generation such as steam turbines or gas turbines used in combined cycle plants. This is expected to drive the growth of the medium voltage AC drives market during the forecast period.
- Technological advancements: The development of new technologies that offer improved performance, higher efficiency, and reduced costs is expected to boost the growth ofthe medium voltage AC drives market duringthe forecast period .
Scope Of The Report
Report Attributes
Report Details
Report Title
Medium Voltage AC Drives Market Research Report
By Type
V/F Control, Slip Frequency Control, Other
By Application
Mining, Metal Processing Plant, Power Station, Other
By Companies
ABB, Schneider Electric, Siemens, Hitachi, Fuji Electric, Spartan Controls, Yaskawa Electric, Amtech Electronics India, Danfoss Engineering, TMEIC, Rockwell Automation, TECO-Westinghouse
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
169
Number of Tables & Figures
119
Customization Available
Yes, the report can be customized as per your need.
Global Medium Voltage AC Drives Market Report Segments:
The global Medium Voltage AC Drives market is segmented on the basis of:
Types
V/F Control, Slip Frequency Control, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Mining, Metal Processing Plant, Power Station, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Schneider Electric
- Siemens
- Hitachi
- Fuji Electric
- Spartan Controls
- Yaskawa Electric
- Amtech Electronics India
- Danfoss Engineering
- TMEIC
- Rockwell Automation
- TECO-Westinghouse
Highlights of The Medium Voltage AC Drives Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- V/F Control
- Slip Frequency Control
- Other
- By Application:
- Mining
- Metal Processing Plant
- Power Station
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Medium Voltage AC Drives Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Medium voltage AC drives are used to power electric motors and other devices. They operate at a higher voltage than standard AC drives, which makes them more efficient.
Some of the key players operating in the medium voltage ac drives market are ABB, Schneider Electric, Siemens, Hitachi, Fuji Electric, Spartan Controls, Yaskawa Electric, Amtech Electronics India, Danfoss Engineering, TMEIC, Rockwell Automation, TECO-Westinghouse.
The medium voltage ac drives market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Medium Voltage AC Drives Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Medium Voltage AC Drives Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Medium Voltage AC Drives Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Medium Voltage AC Drives Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Medium Voltage AC Drives Market Size & Forecast, 2018-2028
4.5.1 Medium Voltage AC Drives Market Size and Y-o-Y Growth
4.5.2 Medium Voltage AC Drives Market Absolute $ Opportunity
Chapter 5 Global Medium Voltage AC Drives Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Medium Voltage AC Drives Market Size Forecast by Type
5.2.1 V/F Control
5.2.2 Slip Frequency Control
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Medium Voltage AC Drives Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Medium Voltage AC Drives Market Size Forecast by Applications
6.2.1 Mining
6.2.2 Metal Processing Plant
6.2.3 Power Station
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Medium Voltage AC Drives Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Medium Voltage AC Drives Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Medium Voltage AC Drives Analysis and Forecast
9.1 Introduction
9.2 North America Medium Voltage AC Drives Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Medium Voltage AC Drives Market Size Forecast by Type
9.6.1 V/F Control
9.6.2 Slip Frequency Control
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Medium Voltage AC Drives Market Size Forecast by Applications
9.10.1 Mining
9.10.2 Metal Processing Plant
9.10.3 Power Station
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Medium Voltage AC Drives Analysis and Forecast
10.1 Introduction
10.2 Europe Medium Voltage AC Drives Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Medium Voltage AC Drives Market Size Forecast by Type
10.6.1 V/F Control
10.6.2 Slip Frequency Control
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Medium Voltage AC Drives Market Size Forecast by Applications
10.10.1 Mining
10.10.2 Metal Processing Plant
10.10.3 Power Station
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Medium Voltage AC Drives Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Medium Voltage AC Drives Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Medium Voltage AC Drives Market Size Forecast by Type
11.6.1 V/F Control
11.6.2 Slip Frequency Control
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Medium Voltage AC Drives Market Size Forecast by Applications
11.10.1 Mining
11.10.2 Metal Processing Plant
11.10.3 Power Station
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Medium Voltage AC Drives Analysis and Forecast
12.1 Introduction
12.2 Latin America Medium Voltage AC Drives Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Medium Voltage AC Drives Market Size Forecast by Type
12.6.1 V/F Control
12.6.2 Slip Frequency Control
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Medium Voltage AC Drives Market Size Forecast by Applications
12.10.1 Mining
12.10.2 Metal Processing Plant
12.10.3 Power Station
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Medium Voltage AC Drives Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Medium Voltage AC Drives Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Medium Voltage AC Drives Market Size Forecast by Type
13.6.1 V/F Control
13.6.2 Slip Frequency Control
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Medium Voltage AC Drives Market Size Forecast by Applications
13.10.1 Mining
13.10.2 Metal Processing Plant
13.10.3 Power Station
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Medium Voltage AC Drives Market: Competitive Dashboard
14.2 Global Medium Voltage AC Drives Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Schneider Electric
14.3.3 Siemens
14.3.4 Hitachi
14.3.5 Fuji Electric
14.3.6 Spartan Controls
14.3.7 Yaskawa Electric
14.3.8 Amtech Electronics India
14.3.9 Danfoss Engineering
14.3.10 TMEIC
14.3.11 Rockwell Automation
14.3.12 TECO-Westinghouse
