Asia Pacific Medium Voltage Drives Market – By Power Range, By Drive, By Application, By End-Use & Forecast, 2025 - 2034

Asia Pacific Medium Voltage Drives Market Size

Asia Pacific medium voltage drives market size in 2024 was valued at USD 901 million and is estimated to observe a growth rate of 5.4% from 2025 to 2034. Ongoing integration of new operating systems in heavy-duty applications along with shifting inclination toward energy conservation will complement the industry landscape.
 

Significant investments for the industrial developments, policies for clean energy transition along with rising demand for efficient motor control solutions across industrial processes will augment the business outlook. For instance, in April 2024, The Australian government unveiled plans for a new industrial policy called the Future Made in Australia Act, which aims to capitalize the resources for clean energy transition. To support this strategy, the government has allocated USD 15 billion in budget measures.
 

Asia Pacific Medium Voltage Drives Market Trends

Asia Pacific medium voltage drives industry is set to grow on account of flourishing investments for industrial development across emerging nations supported by an increased focus on technological advancements and the Industrial Internet of Things (IIoT), which aims to optimize system sizing for improved energy efficiency. For instance, according to the Malaysian Development authority, during the first six months of 2024, the nation observed a significant upsurge in approved investments of around 36 billion across various sectors, marking an 18% increase from the previous year. Moreover, ongoing implementation of stringent government mandates promoting environmental sustainability has propelled the concept of smart manufacturing, particularly in large-scale industrial automation augmenting the industry outlook.
 

Asia Pacific Medium Voltage Drives Market Analysis

< 1 MW segment is anticipated to grow over USD 380 million by 2034. Advancements in motor system technology along with ongoing development if new production systems to maintaining high efficiency and reliability will boost the product deployment. Companies are increasingly seeking sustainable equipment that offers reduced operational and mechanical expenses, which will further fuel the product adoption. Moreover, government regulations promoting sustainable infrastructure development and increased focus on implementing systems that minimize operational downtime are playing a significant role in contributing to the industry growth.
 

AC segment is anticipated to witness a CAGR of over 5.5% till 2034. The medium voltage AC drives market is experiencing significant growth, driven by the rising demand for advanced technologies and emphasis on motor control solutions. These drives offer enhanced reliability, precise torque control, remote operation capabilities, adaptable designs, and built-in monitoring systems, further accelerating the product deployment. Shifting focus on increasing on energy efficiency across various industrial applications and ongoing adopting these drives to reduce energy consumption and improve overall operational efficiency will augment the AC drives business outlook.
 

China medium voltage drives market is set to grow over USD 680 million by 2034. Significant investments in research and development along with continuous upgrades to the industrial processes, have accelerated the need for reliable motor control solutions. Shifting focus to optimize energy conservation, encouraging the implementation of eco-friendly medium voltage drives will complement the industry landscape. Moreover, increasing investments in energy-intensive sectors together with ongoing adoption of high-performance and energy-efficient motors in energy-intensive manufacturing industries will positively influence the business dynamics.
 

Consistent efforts to reduce energy consumption and losses, coupled with rigorous energy efficiency and consumption regulations will augment the industry outlook. For instance, in July 2024, China has introduced a fresh action plan for 2024-2025 to enhance energy conservation and reduce carbon emissions, aims to accelerate the energy efficiency goals outlined in the country's 14th Five-Year Plan. The target is to reduce the energy consumption by 13.5% per unit of GDP by 2025, compared to 2020 levels. The new strategy focuses on cutting fossil fuel use, increasing clean energy adoption, and implementing major energy-saving measures in key sectors such as steel production and transportation.
 

Asia Pacific Medium Voltage Drives Market Share

Leading companies in the Asia Pacific medium voltage drives industry are forming strategic partnerships and alliances to develop and introduce improved technologies. These firms are also pursuing mergers and acquisitions to bolster their industry standing. By implementing these approaches, companies seek to expand their market presence through technological advancements stimulating the Asia Pacific variable frequency drives industry growth.
 

Asia Pacific Medium Voltage Drives Market Companies

Major players operating across the industry include:

• ABB
• Danfoss
• Delta Electronics
• Eaton
• Emerson Electric
• Fuji Electric
• GE Vernova
• Hitachi
• Hiconics
• Honeywell
• Nidec
• Rockwell Automation
• Schneider Electric
• Siemens
• Teco Electric
• TMEIC
• Triol
• VEM Group
• WEG
• Yaskawa Electric
   

Asia Pacific Medium Voltage Drives Industry News

• In January 2024, WEG introduced the MW500 decentralized variable speed drive features a modern design and provides high-performance speed and torque control for three-phase motors. Its IP66/NEMA4X protection rating enhances durability, offering robust defense against dust and water jets from all directions.
   
• In May 2023, two units of Triol's AT27 medium voltage variable frequency drives were successfully commissioned at the customer's site in Indonesia. A Triol engineer assisted in setting the drives to their nominal operating mode. These AT27 Line DD VFDs replaced a direct-start drive, providing smooth-running control for horizontal pumping systems in the upstream oil production. These units offer a significant advantage in space efficiency, occupying up to 25-30% less floor space compared to competitors' inverters in the same class.
   

The Asia Pacific medium voltage drives market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” and “USD Million” from 2021 to 2034, for the following segments:

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Market, By Power Range

• ≤ 1 MW
• 1 MW - 3 MW
• 3 MW - 7 MW
• > 7 MW

Market, By Drive

• AC
• DC
• Servo

Market, By Application

• Pump
• Fan
• Conveyor
• Compressor
• Extruder
• Others

Market, By End-Use

• Oil & gas
• Power generation
• Mining & metals
• Pulp & paper
• Marine
• Others

The above information has been provided for the following countries:

• China
• Japan
• India
• Australia
• South Korea