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North America Medium Voltage Drives Market Size
- Report ID: GMI8955
- Published Date: Nov 2024
- Report Format: PDF
North America Medium Voltage Drives Market Size
North America medium voltage drives market size in 2024 was valued at USD 430.4 million and is estimated to grow at a CAGR of 6.1% from 2025 to 2034.
The growing investments for industrial development and manufacturing enhancement programs, expanding demand for energy-efficient motor control solutions, and ongoing need for industrial process optimization are among the key factors driving the industry growth. Efforts to reduce energy consumption coupled with stringent government regulations, will complement the industry outlook.
For instance, in September 2023, the U.S. Department of Energy (DOE) issued a direct final rule regarding energy conservation standards for electric motors. The Energy Policy and Conservation Act requires the DOE to periodically evaluate whether more stringent standards are technologically feasible, economically justified, and energy-saving.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| North America Medium Voltage Drives Market Size in 2024: | USD 430.4 million |
| Forecast Period: | 2025 to 2034 |
| Forecast Period 2025 to 2034 CAGR: | 6.1% |
| 2034 Value Projection: | USD 772.6 million |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 95 |
| Tables, Charts & Figures: | 12 |
| Segments covered: | Power Range, Drive, Application, End-Use and Country |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
North America Medium Voltage Drives Market Scope
