The global medium voltage motors market size reached US$ 5.19 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 8.52 Billion by 2028, exhibiting a growth rate (CAGR) of 8.80% during 2023-2028. The rising demand for energy-efficient motors, widespread product utilization in the heating, ventilation, and air conditioning (HVAC) systems, and the integration of the Internet of Things (IoT) technology represent some of the key factors driving the market.
Medium voltage motors refer to electrical machines designed to operate with a power supply that delivers medium voltage levels. They are comprised of several components, such as a rotor, bearings, stator, terminal box, frame, cooling system, seals, and shaft. Medium voltage motors are manufactured using robust materials, such as copper, stainless steel, high-strength alloys, and ceramics. They are widely used in pumps, fans, blowers, compressors, generators, conveyors, rolling mills, crushers, drilling equipment, marine propulsion, and cooling systems. Medium voltage motors are high-performance, reliable, and durable machines that offer long service life, require low maintenance, and can withstand extreme temperatures, mechanical stress, and electrical loads. They also provide high power output, generate low noise, reduce electrical losses, minimize operational costs, and improve overall efficiency.
Medium voltage motors refer to electrical machines designed to operate with a power supply that delivers medium voltage levels. They are comprised of several components, such as a rotor, bearings, stator, terminal box, frame, cooling system, seals, and shaft. Medium voltage motors are manufactured using robust materials, such as copper, stainless steel, high-strength alloys, and ceramics. They are widely used in pumps, fans, blowers, compressors, generators, conveyors, rolling mills, crushers, drilling equipment, marine propulsion, and cooling systems. Medium voltage motors are high-performance, reliable, and durable machines that offer long service life, require low maintenance, and can withstand extreme temperatures, mechanical stress, and electrical loads. They also provide high power output, generate low noise, reduce electrical losses, minimize operational costs, and improve overall efficiency.
Medium Voltage Motors Market Trends:
The rising demand for energy-efficient motors across the globe is one of the key factors providing a thrust to the market growth. Medium voltage motors are designed to be lightweight, compact, and energy-efficient devices that deliver high output, provide better power quality, produce less electrical noise, and minimize power losses, which aids in reducing energy consumption, saving costs, and improving system reliability. Furthermore, the widespread product utilization in the heating, ventilation, and air conditioning (HVAC) systems for various applications, such as pumps, fans, compressors, and cooling towers, is providing an impetus to the market growth. In addition to this, the rapid installation of HVAC systems across commercial and industrial spaces, such as office buildings, manufacturing facilities, retail stores, data centers, and hotels, is acting as another growth-inducing factor. Additionally, the adoption of the Internet of Things (IoT) technology to allow real-time monitoring of various operating parameters, such as temperature, vibration, current, and speed, thus improving the performance, reliability, and efficiency of medium voltage motors, is positively influencing the market growth. Besides this, the introduction of permanent magnets in the manufacturing of medium voltage motors, which reduces energy consumption and enhances overall performance, is contributing to the market growth. Moreover, the implementation of favorable policies by several governments to promote the adoption of energy-efficient systems across industries is supporting the market growth. Other factors, including rapid industrialization activities, increasing investments in the development of advanced products, and growing demand for factory automation, are anticipated to drive the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global medium voltage motors market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on product and end user.Product Insights:
- AC-Motors
- DC-Motors
End User Insights:
- Process Industries
- Discrete Industries
- HVAC
Regional Insights:
North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global medium voltage motors market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Nidec Corporation, Regal Rexnord Corporation, Rockwell Automation Inc., SEVA-tec GmbH, Toshiba Corporation, WEG S.A., Wolong Electric Group Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report:
- How has the global medium voltage motors market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global medium voltage motors market?
- What is the impact of each driver, restraint, and opportunity on the global medium voltage motors market?
- What are the key regional markets?
- Which countries represent the most attractive medium voltage motors market?
- What is the breakup of the market based on the product?
- Which is the most attractive product in the medium voltage motors market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the medium voltage motors market?
- What is the competitive structure of the global medium voltage motors market?
- Who are the key players/companies in the global medium voltage motors market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Medium Voltage Motors Market
6 Market Breakup by Product
7 Market Breakup by End User
8 Market Breakup by Region
9 Drivers, Restraints, and Opportunities
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Nidec Corporation
- Regal Rexnord Corporation
- Rockwell Automation Inc.
- SEVA-tec GmbH
- Toshiba Corporation
- WEG S.A.
- Wolong Electric Group Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 141 |
| Published | June 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 5.19 Billion |
| Forecasted Market Value ( USD | $ 8.52 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
