Asia Pacific Medium Voltage Drives Market Analysis

Asia Pacific Medium Voltage Drives Market Analysis

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< 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.