Medium Voltage Drives Market Analysis

Medium Voltage Drives Market Analysis

Based on power range, 1 - 3 MW segment is expected to surpass USD 950 million by 2032. Increasing need for process optimization across industries and growing demand for reliable motor control technologies will accelerate the product demand. Furthermore, incorporation of industrial internet of things and ongoing automation across various industrial processes will positively influence the industry landscape. Increasing demand for efficient solutions with customization capabilities and easy scalability across specific industrial infrastructure needs for controlling large motors in various industrial processes is accelerating large scale MV drives product deployment.
 

Based on drive, AC drive segment is anticipated to observe a growth rate of over CAGR 5.5% through 2032. Ongoing technological improvements such as integration of intelligent features and Internet of Things (IoT) capabilities, have enhanced their performance and functionality, augmenting the product demand. Increasing investments in industrial automation and the adoption of Industry 4.0, incorporating advanced robotics and technologies, are positively influencing the medium voltage AC drives industry landscape.
 

U.S. medium voltage drives market is anticipated to surpass USD 450 million through 2032. Increasing investments across the manufacturing sector, growing utilization of high-power machinery, will boost the product adoption. Rising energy demand coupled with adoption of energy-efficient alternatives will complement the industry landscape. Ongoing adoption of improved performance and higher efficiency motors in energy-intensive manufacturing industries will further proliferate the North America medium voltage drives industry size.
 

Introduction of stringent regulatory standards aimed at reducing emissions from industrial facilities along with promoting the use of energy-efficient alternatives, contributing the industry growth. For instance, in March 2024, the International Electrotechnical Commission (IEC) released standard 60034-2-3:2024. This standard establishes methods for testing and interpolating data to assess the losses and efficiency of converter-powered motors. These motors play a crucial role in variable frequency drive systems. Furthermore, rapid industrialization, increasing energy demand, and the transition towards energy-efficient technologies will positively influence the business dynamics.