Asia Pacific Medium Voltage Drives Market Trends

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.