Market Overview:
The global medium voltage drives market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into up to 0.2 MW, above 0.2 MW-0.6 MW, above 0.6-3 MW, above 3-7.5 MW, above 7 .5-10MW , andabove 10MW -20MW segments .On the basis of application ,the market is segmented into automotive ,building automation ,cement & glass ,chemical processing plants& refineries), electric power generation (utilities& industrial), mining (surface& underground), oil & gas production facilities (onshore& offshore) pharmaceuticals & biotech companies other applications).Regionally speaking North America dominates th e global medium voltage drives ma rket with a share o f more than 30%. Asia Pacific follows next with a share close to 30%.
Product Definition:
Medium voltage drives are used to control the speed and torque of electric motors. They are important because they allow businesses to save energy by controlling the speed and torque of electric motors.
Up to 0.2 MW:
0.2 MW capacity is the upper limit for a wind turbine's power output. However, there are no practical limits to its power production as long as the wind speed is above 10m/s.
Above 0.2 0.6 MW:
0.2 0.6 MW is the upper limit of power range for medium voltage drives, which are used in various sectors including industrial and commercial applications. The market is expected to grow at a significant rate owing to increasing demand for electric power from end-use industries such as manufacturing, construction, and chemical processing among others.
The growth of these end-use industries will lead to an increase in the demand for medium voltage drives that will help boost above 0.2 0.
Application Insights:
The cement and glass application segment led the global medium voltage drives market in 2017. The segment is projected to expand at a CAGR of XX% over the forecast period owing to factors such as rapid urbanization, increasing construction activities, and growing demand for electric motors in this industry.
Building automation is expected to witness significant growth over the forecast period due to rising adoption of MVDs across various industries such as oil & gas, pharmaceuticals & biotechnology, food & beverage processing and paper mills among others. These products are used for motor control applications in HVAC (heating ventilation air conditioning) systems that operate on a Medium Voltage Direct Current (MVDC) supply system or an HVAC system that operates on an alternating current supply system with a frequency range between 50 Hz - 60 Hz will also use these products during its installation process thereby driving their demand globally over the next few years.
Regional Analysis:
Asia Pacific is expected to be the largest and fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for power in emerging economies, such as China and India. In 2016, Asia Pacific medium voltage drives accounted for a share of more than 40% in global sales. Increasing investments by governments of developing countries are also anticipated to boost product demand over the next eight years.
The European region is estimated to witness significant growth during the forecast period owing to rising installations of MVDs across several industries including oil & gas, electric power generation, building automation etc., which will drive industry expansion further on account of growing electricity consumption across countries like Germany and Italy among others that have adopted Medium Voltage Distribution Systems (MVDS) installation standards set by IEC 61850-1:2006 with amendments up till now (revised edition).
Growth Factors:
- Increasing demand for energy-efficient medium voltage drives across various industries
- Growing popularity of microgrid technology and its integration with medium voltage drives systems
- Proliferation of renewable energy sources, which is driving the demand for medium voltage drives to manage and control these sources
- Rising concerns over grid reliability and security, leading to increased adoption of smart grid technologies that rely on medium voltage drives
- Rapid advancements in digital technologies and big data analytics are enabling new applications for medium voltage drives, thereby fueling market growth
Scope Of The Report
Report Attributes
Report Details
Report Title
Medium Voltage Drives Market Research Report
By Type
Up to 0.2 MW, Above 0.2 0.6 MW, Above 0.6 3 MW, Above 3-7.5 MW, Above 7.5-10 MW, Above 10 MW - 20 MW, Above 20 MW
By Application
Automotive, Building Automation, Cement & Glass, Chemical, Electric Power Generation, Mining, Oil & Gas, Pharmaceutical & Biotech, Other
By Companies
ABB, Danfoss, Schneider, Siemens, Mitsubishi, Fuji, Emerson, Hitachi, Parker Hannifin, Rockwell, Toshiba, WEG, Yaskawa
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
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Medium Voltage Drives Market Report Segments:
The global Medium Voltage Drives market is segmented on the basis of:
Types
Up to 0.2 MW, Above 0.2 0.6 MW, Above 0.6 3 MW, Above 3-7.5 MW, Above 7.5-10 MW, Above 10 MW - 20 MW, Above 20 MW
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
Automotive, Building Automation, Cement & Glass, Chemical, Electric Power Generation, Mining, Oil & Gas, Pharmaceutical & Biotech, 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
- Danfoss
- Schneider
- Siemens
- Mitsubishi
- Fuji
- Emerson
- Hitachi
- Parker Hannifin
- Rockwell
- Toshiba
- WEG
- Yaskawa
Highlights of The Medium Voltage 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:
- Up to 0.2 MW
- Above 0.2 0.6 MW
- Above 0.6 3 MW
- Above 3-7.5 MW
- Above 7.5-10 MW
- Above 10 MW - 20 MW
- Above 20 MW
- By Application:
- Automotive
- Building Automation
- Cement & Glass
- Chemical
- Electric Power Generation
- Mining
- Oil & Gas
- Pharmaceutical & Biotech
- 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 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.
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- Market Entry Strategies
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- Product & Brand Management
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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 drives are used to power electrical equipment that requires a higher voltage than what is typically found in residential wiring. These drives use alternating current (AC) to generate power, which is then converted to the required voltages for use by the equipment.
Some of the major players in the medium voltage drives market are ABB, Danfoss, Schneider, Siemens, Mitsubishi, Fuji, Emerson, Hitachi, Parker Hannifin, Rockwell, Toshiba, WEG, Yaskawa.
The medium voltage drives market is expected to grow at a compound annual growth rate of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Medium Voltage Drives Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Medium Voltage Drives Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Medium Voltage Drives Market - Supply Chain
4.5. Global Medium Voltage Drives Market Forecast
4.5.1. Medium Voltage Drives Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Medium Voltage Drives Market Size (000 Units) and Y-o-Y Growth
4.5.3. Medium Voltage Drives Market Absolute $ Opportunity
5. Global Medium Voltage Drives Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Medium Voltage Drives Market Size and Volume Forecast by Type
5.3.1. Up to 0.2 MW
5.3.2. Above 0.2 0.6 MW
5.3.3. Above 0.6 3 MW
5.3.4. Above 3-7.5 MW
5.3.5. Above 7.5-10 MW
5.3.6. Above 10 MW - 20 MW
5.3.7. Above 20 MW
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Medium Voltage Drives Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Medium Voltage Drives Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Building Automation
6.3.3. Cement & Glass
6.3.4. Chemical
6.3.5. Electric Power Generation
6.3.6. Mining
6.3.7. Oil & Gas
6.3.8. Pharmaceutical & Biotech
6.3.9. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Medium Voltage Drives Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Medium Voltage Drives Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Medium Voltage Drives Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Medium Voltage Drives Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Medium Voltage Drives Demand Share Forecast, 2019-2026
9. North America Medium Voltage Drives Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Medium Voltage Drives Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Medium Voltage Drives Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Building Automation
9.4.3. Cement & Glass
9.4.4. Chemical
9.4.5. Electric Power Generation
9.4.6. Mining
9.4.7. Oil & Gas
9.4.8. Pharmaceutical & Biotech
9.4.9. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Medium Voltage Drives Market Size and Volume Forecast by Type
9.7.1. Up to 0.2 MW
9.7.2. Above 0.2 0.6 MW
9.7.3. Above 0.6 3 MW
9.7.4. Above 3-7.5 MW
9.7.5. Above 7.5-10 MW
9.7.6. Above 10 MW - 20 MW
9.7.7. Above 20 MW
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Medium Voltage Drives Demand Share Forecast, 2019-2026
10. Latin America Medium Voltage Drives Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Medium Voltage Drives Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Medium Voltage Drives Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Building Automation
10.4.3. Cement & Glass
10.4.4. Chemical
10.4.5. Electric Power Generation
10.4.6. Mining
10.4.7. Oil & Gas
10.4.8. Pharmaceutical & Biotech
10.4.9. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Medium Voltage Drives Market Size and Volume Forecast by Type
10.7.1. Up to 0.2 MW
10.7.2. Above 0.2 0.6 MW
10.7.3. Above 0.6 3 MW
10.7.4. Above 3-7.5 MW
10.7.5. Above 7.5-10 MW
10.7.6. Above 10 MW - 20 MW
10.7.7. Above 20 MW
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Medium Voltage Drives Demand Share Forecast, 2019-2026
11. Europe Medium Voltage Drives Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Medium Voltage Drives Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Medium Voltage Drives Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Building Automation
11.4.3. Cement & Glass
11.4.4. Chemical
11.4.5. Electric Power Generation
11.4.6. Mining
11.4.7. Oil & Gas
11.4.8. Pharmaceutical & Biotech
11.4.9. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Medium Voltage Drives Market Size and Volume Forecast by Type
11.7.1. Up to 0.2 MW
11.7.2. Above 0.2 0.6 MW
11.7.3. Above 0.6 3 MW
11.7.4. Above 3-7.5 MW
11.7.5. Above 7.5-10 MW
11.7.6. Above 10 MW - 20 MW
11.7.7. Above 20 MW
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Medium Voltage Drives Demand Share, 2019-2026
12. Asia Pacific Medium Voltage Drives Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Medium Voltage Drives Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Medium Voltage Drives Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Building Automation
12.4.3. Cement & Glass
12.4.4. Chemical
12.4.5. Electric Power Generation
12.4.6. Mining
12.4.7. Oil & Gas
12.4.8. Pharmaceutical & Biotech
12.4.9. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Medium Voltage Drives Market Size and Volume Forecast by Type
12.7.1. Up to 0.2 MW
12.7.2. Above 0.2 0.6 MW
12.7.3. Above 0.6 3 MW
12.7.4. Above 3-7.5 MW
12.7.5. Above 7.5-10 MW
12.7.6. Above 10 MW - 20 MW
12.7.7. Above 20 MW
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Medium Voltage Drives Demand Share, 2019-2026
13. Middle East & Africa Medium Voltage Drives Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Medium Voltage Drives Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Medium Voltage Drives Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Building Automation
13.4.3. Cement & Glass
13.4.4. Chemical
13.4.5. Electric Power Generation
13.4.6. Mining
13.4.7. Oil & Gas
13.4.8. Pharmaceutical & Biotech
13.4.9. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Medium Voltage Drives Market Size and Volume Forecast by Type
13.7.1. Up to 0.2 MW
13.7.2. Above 0.2 0.6 MW
13.7.3. Above 0.6 3 MW
13.7.4. Above 3-7.5 MW
13.7.5. Above 7.5-10 MW
13.7.6. Above 10 MW - 20 MW
13.7.7. Above 20 MW
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Medium Voltage Drives Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Medium Voltage Drives Market: Market Share Analysis
14.2. Medium Voltage Drives Distributors and Customers
14.3. Medium Voltage Drives Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ABB
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Danfoss
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Schneider
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Siemens
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Mitsubishi
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Fuji
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Emerson
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Hitachi
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Parker Hannifin
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Rockwell
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Toshiba
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. WEG
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Yaskawa
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
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