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Medium Voltage Drives Market

Medium Voltage Drives Market by Power Range ( < 1MW, 3MW - 7 MW, and > 7MW), End User (Oil & Gas, Power Generation), Drive (AC, DC), Application (Pump, Fan) & Region - Forecast 2022 - 2032

Market Insights on Medium Voltage Drives covering sales outlook, demand forecast & up-to-date key trends

Medium Voltage Drives Market Outlook (2022-2032)

[344 Pages Report] The global medium voltage drives market is projected to grow at a moderate CAGR of 3.8%, reaching US$ 2.26 Bn by 2032 from US$ 1.5 Bn in 2021.

“The growing trend of industrial automation and incorporation of industrial internet of things (IIoT) will require installation of efficient medium voltage drives in higher numbers and rise the market demand in future.”

Industrial establishments requiring higher energy consumption for running various manufacturing equipment are constantly striving for implementing energy-efficient tools.

Coupled with stringent regulations for reducing carbon emissions has made it a compulsion for spending less on electricity consumption. As a result, a medium voltage or mv drive have emerged to be a suitable tool for the higher performance of electric motors used in industries with the consumption of a lower amount of electricity.

Industries operating on higher capacity electricity motors also go high voltage VFD drives that benefit the users with the similar outcomes of using medium voltage VFDs.

Attributes

Details

Medium Voltage Drives Market CAGR (2022-2032)

3.8%

Medium Voltage Drives Market (2028)

US$ 1.95 Bn

Medium Voltage Drives Market Attraction

Growing concern for deploying energy consumption measures is anticipated to be major driving factor of medium voltage drives market.

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What is the Covid-19 Impact on Medium Voltage Drives Market?

Covid-19 outbreak halted the growth and expansion of various industrial establishments across all regions of the world. Also, the manufacturing of non-essential items was completely stopped leading to the drop-in installation of any medium voltage drives at industrial setups.

The restriction on travel and logistic facilities also hampered the growth of the medium voltage drive market due to the unavailability of sufficient raw materials for the production of electrical machines and equipment.

However, the increase in demand for essential items used in the health care sector like medical equipment and liquid oxygen significantly boosted the business of industries manufacturing industries.

Medium voltage VFD manufacturers got some relief during pandemic years by providing Drives for such industries growing at an exponential rate. In the post-pandemic years, the medium voltage drives market returned back to normal growth, with industrial establishments resuming their operations and expanding their business activities to new regions.

What are the Major Factors Deciding the Present Dynamics of the Global Medium Voltage Market?

“Heavy-duty industries and oil & gas networks are increasingly implementing the monitoring and control systems for reducing the power consumption that will positively complement the medium voltage drives market in future.”

By varying the frequency and voltage of the electricity supplied to electric motors used in industries, it is possible to manage the energy consumption. Moreover, the utilization of weg medium voltage drives in industrial setups helps in increasing the longevity of equipment and reduces the overall maintenance cost.

Industrial setups with high workloads prefer to deploy the best medium voltage drives, for example, Siemens mv drives, powerflex 7000 VFD and others for better results. Other media to smaller size enterprises opt for better options in terms of the lower cost that will provide an equal ground for all the players operating in the medium voltage drive market.

Which are the Driving Factors for the Growth of the Global Medium Voltage Drive Market?

Obligations to control the energy consumption by reducing the demand for electricity supply in electrical motors can be optimized by the use of appropriate voltage regulating drives.

Existing technologies across all levels of enterprises undergoing the necessary refurbishment and replacement are poised to obtain new upgraded versions of medium voltage variable frequency drives that will drive further the global market.

In recent times there has been a growing requirement for introducing full-time monitoring control of various processing units. Due to a shortage of labour, particularly in developed economies, industries are resorting to the utilization of medium voltage drives as well as high voltage drives.

What are Some of the Limiting Factors against the Growth of Medium Voltage Drive Market during the Forecast Years?

Though the medium voltage drives have been in use for a very long time, it has remained mostly limited to large industrial sectors with higher capital investments.

Medium voltage VFD motors require skilled personnel for operation due to maintenance and safety reasons. The development of medium voltage drives with more user-friendly controls is the major game-changer for the medium voltage drives market.

What are the Key Challenges faced by the Medium Voltage Drives Market Players?

In the aftermath of the successful demonstration of high-end digital technologies such as machine learning (ML) and artificial intelligence (AI), a number of new players are emerging in the electronics and industrial sector.

The growing competition has led to a significant drop in the prices of major electrical devices. Previously renowned players in the medium voltage drives market have to take care of medium voltage drive price and take care readily adopt the new technologies to remain competitive in the rapidly changing world.

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Comparative View of Adjacent Medium Voltage Drives Market

Attributes

Medium Voltage Drives Market

Low Voltage Switchgear Market

Switchgear Market

CAGR (2022 - 2032)

3.8%

4%

5.5%

Market Value (2026)

US$ 1.7 Bn

US$ 80.3 Bn

US$ 90 Bn

Growth Factor

Rising investments towards smart and reliable infrastructures to offer impetus.

Quick reaction time and low unit cost drives high adoption of low voltage switchgear.

Growing investments in renewable energy to underpin demand for DC switchgear.

Opportunity

Growing investments towards heavy-duty industrial verticals to assist the growth of the market.

Favorable government regulations to offer manufacturers the pathway to innovate.

Aging power infrastructure offers new opportunities for market players.

Key Trends

Increasing acceptance of medium voltage drives across industries such as metals & mining, cement, and petrochemicals to provide opportunities.

Investment in plug-in low voltage switchgear segment can bode well.

New product development to be the way forward.

In comparison to low voltage drives, medium voltage drives are deployed for controlling multi-megawatt electric motors.

These types of motors are mostly found in mining, power plants, metal preparation plants, posing a huge burden on the energy security in their area of operation. Hence, the government, as well as private firms, are encouraging the use of medium voltage drives as well as high voltage drives as an energy conservation measure in industrial establishments.

Cooling systems are provided with several electrical appliances for maintaining appropriate temperature for the proper functioning of devices. Medium voltage VFD cables perform with higher efficiency in a cooling environment provided by sufficient coolants. Based on the coolant provided in the enclosure of the medium voltage drivers, it can be categorized into liquid-cooled and air-cooled.

Which Segment will Witness the Highest Growth based on Voltage or Power Range?

The rising use of automation in the building sector fuelled by the requirement of energy-efficient appliances will set the market with higher demand for 3 KV to 7KV medium voltage variable frequency drives.

This segment is expected to witness an advantage over other higher 14 KV and above categories owing to the higher medium voltage VFD price list.

Based on the power range, 1 MW to 3MW will experience a similar trend in the global medium voltage drives market.

Which Sectors are the Prominent End Users of Medium Voltage Drives Market?

There are six subsectors of the manufacturing sector considered to be intensive end-users having high energy requirements. By 2018, these six industries, namely oil & gas processing, power generation plants, mining and primary metal refining, pulp and paper manufacturing, consumed almost 87% of the total manufacturing energy consumed per year. Rising fossil fuel prices has redirected the various operations in these industries to use energy-efficient methods as a cost-cutting measure.

All of these end-users of web medium voltage drives will contribute equally to the growth of the medium voltage drive market during the forecast period.

According to the Current Type used in the Drives, which Segment has the Maximum Growth Potential?

AC drives can control the speed of electric motors and torque produced by fluctuating the voltage in the motor circuits. This segment is the most popular drive than the DC and servo medium voltage VFD motors.

AC drives are deployed in heavy industries that will further fuel the growth of the medium voltage drives market in the coming days.

What are Major Applications of Medium Voltage Drives Propelling the Global Market?

Electric motors are used in several types of appliances that we see in everyday life. Pump sets, cooling fans, conveyors, fluid compressors, and others are constructed over an electric motor providing the required circular motion.

However, medium voltage drives are installed in industrial setups having bigger versions of these appliances requiring higher energy to run. Pump sets consume a significant amount of energy available for the production units that, which makes them the most attractive segment for the medium voltage VFD manufacturers

What is the Growth Prospect for Medium Voltage Drives Market in Different Geographical Regions?

North America is the dominant region in the manufacturing and production of medium voltage. By the presence of several top brands of medium voltage drives in the region, some brand names have become synonymous with the product. Siemens mv drives, weg medium voltage drives, ABB medium voltage VFD are some common names mistakenly used instead of medium voltage drives.

To reduce dependence on cross border logistics for raw materials, cheaper labour cost medium voltage drive manufacturers are establishing production facilities in the Asia Pacific region. This region will experience the maximum growth during the forecast period owing to rapid economic development and government restrictions on the overuse of energy supplies.

Moreover, the presence of major manufacturers in these regions, particularly China and India, will provide a conducive environment for the rapid adoption of mv drives in industries.

Europe is also a prominent region having huge growth potential for the medium voltage drive market being present for a very long time. Obligations of European countries to strictly adhere to the environmental norms set by the government is expected to increase the focus on energy consumption methods. This sheer turnaround in the consumption trend will drive the European medium voltage drives market to new heights.

What is the Current Competitive Landscape for the Medium Voltage Drives Market?

The use of high power speed drives recently developed by technological advancements require provisions for the accurate supply of voltage and current specifications. Medium voltage VFD manufacturers are increasingly targeting this necessity to escalate product deployment.

The leading players of the medium voltage drives market are Johnson Controls, ABB, Schneider Electric, Eaton, Fuji Electric Co., Ltd., Rockwell Automation, Inc., WEG, Yaskawa Electric Corporation, Nidec Corporation.

To remain competitive, medium voltage drives manufacturers are producing drives according to the requirement of several industries. This change in business strategy will help the manufacturers in expanding their business to new users by designing medium voltage VFD specifications as desired by the consumers.

Fuji Electric is a major player in the Asia Pacific region that produces competitive medium voltage drives in the range starting from 0.1 kW and going up to 2400 kW as required by different applications in modern industries.

Recent Development in the Medium Voltage Drives Market:

  • In 2014, after the success of powerflex 7000 VFDs, Rockwell Automation developed a Robo-Clone drive that is available in the US market. 
  • By 2017, Siemens medium voltage drives reached the milestone of achieving 15000+ installations of its high-end product SINAMICS Perfect Harmony GH 180 drives across the world. These designs are targeted at distinct output power configurations with little overlap between the frame sizes.
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Key Segments

By Power Range:

  • < 1MW
  • 1MW – 3 MW
  • 3MW – 7 MW
  • > 7MW

By End User:

  • Oil & Gas
  • Power Generation
  • Mining & Metals
  • Pulp & Paper
  • Marine
  • Others

By Drive:

  • AC
  • DC
  • Servo

By Application:

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

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)

Frequently Asked Questions

The medium voltage drives market is estimated to witness a CAGR of 3.8% during the forecast period.

The total value of medium voltage drives market is predicted to be US$ 2.26 Bn by 2032.

The global medium voltage drives market was valued at US$ 1.5 Bn in 2021.

North America accounts for the largest revenue share of the global medium voltage drives market.

Asia Pacific is expected to witness the highest growth rate during the forecast period of 2022-2032.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook 

    1.2. Summary of Statistics

    1.3. Key Market Characteristics & Attributes

    1.4. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage 

    2.2. Market Definition 

3. Market Risks and Trends Assessment 

    3.1. Risk Assessment 

        3.1.1. COVID-19 Crisis and Impact on Medium Voltage Drives Demand

        3.1.2. COVID-19 Impact Benchmark with Previous Crisis 

        3.1.3. Impact on Market Value (US$ Mn)

        3.1.4. Assessment by Key Countries

        3.1.5. Assessment by Key Market Segments

        3.1.6. Action Points and Recommendation for Suppliers

    3.2. Key Trends Impacting the Market

    3.3. Formulation and Product Development Trends

4. Market Background 

    4.1. Medium Voltage Drives Market, by Key Countries

    4.2. Medium Voltage Drives Market Opportunity Assessment (US$ Mn)

        4.2.1. Total Available Market

        4.2.2. Serviceable Addressable Market

        4.2.3. Serviceable Obtainable Market

    4.3. Market Scenario Forecast 

        4.3.1. Demand in optimistic Scenario

        4.3.2. Demand in Likely Scenario

        4.3.3. Demand in Conservative Scenario 

    4.4. Investment Feasibility Analysis

        4.4.1. Investment in Established Markets

            4.4.1.1. In Short Term

            4.4.1.2. In Long Term

        4.4.2. Investment in Emerging Markets

            4.4.2.1. In Short Term

            4.4.2.2. In Long Term

    4.5. Forecast Factors - Relevance & Impact

        4.5.1. Top Companies Historical Growth

        4.5.2. Growth in Automation, By Country

        4.5.3. Medium Voltage Drives Adoption Rate, By Country

    4.6. Market Dynamics

        4.6.1. Market Driving Factors and Impact Assessment

        4.6.2. Prominent Market Challenges and Impact Assessment

        4.6.3. Medium Voltage Drives Market Opportunities

        4.6.4. Prominent Trends in the Global Market & Their Impact Assessment

5. Key Success Factors 

    5.1. Manufacturers’ Focus on Low Penetration High Growth Markets

    5.2. Banking on with Segments High Incremental Opportunity

    5.3. Peer Benchmarking 

6. Global Medium Voltage Drives Market Demand Analysis 2015-2021 and Forecast, 2022-2032

    6.1. Historical Market Analysis, 2015-2021

    6.2. Current and Future Market Projections, 2022-2032

    6.3. Y-o-Y Growth Trend Analysis

7. Global Medium Voltage Drives Market Value Analysis 2015-2021 and Forecast, 2022-2032

    7.1. Historical Market Value (US$ Mn) Analysis, 2015-2021

    7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032

        7.2.1. Y-o-Y Growth Trend Analysis

        7.2.2. Absolute $ Opportunity Analysis

8. Global Medium Voltage Drives Market Analysis 2015-2021 and Forecast 2022-2032, By Power Range

    8.1. Introduction / Key Findings

    8.2. Historical Market Size (US$ Mn) Analysis By Power Range, 2015-2021

    8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Power Range, 2022-2032

        8.3.1. ≤ 1 MW

        8.3.2. 1 MW - 3 MW

        8.3.3. 3 MW- 7 MW

        8.3.4. > 7 MW

    8.4. Market Attractiveness Analysis By Power Range

9. Global Medium Voltage Drives Market Analysis 2015-2021 and Forecast 2022-2032, By End User

    9.1. Introduction / Key Findings

    9.2. Historical Market Size (US$ Mn) Analysis By End User, 2015-2021

    9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End User, 2022-2032

        9.3.1. Oil & Gas

        9.3.2. Power Generation

        9.3.3. Mining & Metals

        9.3.4. Pulp & Paper

        9.3.5. Marine

        9.3.6. Others

    9.4. Market Attractiveness Analysis By End User

10. Global Medium Voltage Drives Market Analysis 2015-2021 and Forecast 2022-2032, By Drive

    10.1. Introduction / Key Findings

    10.2. Historical Market Size (US$ Mn) Analysis By Drive, 2015-2021

    10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Drive, 2022-2032

        10.3.1. AC

        10.3.2. DC

        10.3.3. Servo

    10.4. Market Attractiveness Analysis By Drive

11. Global Medium Voltage Drives Market Analysis 2015-2021 and Forecast 2022-2032, By Application

    11.1. Introduction / Key Findings

    11.2. Historical Market Size (US$ Mn) Analysis By Application, 2015-2021

    11.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Application, 2022-2032

        11.3.1. Pump

        11.3.2. Fan

        11.3.3. Conveyor

        11.3.4. Compressor

        11.3.5. Extruder

        11.3.6. Others

    11.4. Market Attractiveness Analysis By Application

12. Global Medium Voltage Drives Market Analysis 2015-2021 and Forecast 2022-2032, By Region

    12.1. Introduction

    12.2. Historical Market Size (US$ Mn) Analysis By Region, 2015-2021

    12.3. Current Market Size (US$ Mn) & Analysis and Forecast By Region, 2022-2032

        12.3.1. North America

        12.3.2. Latin America

        12.3.3. Europe

        12.3.4. Asia Pacific 

        12.3.5. Middle East and Africa (MEA)

    12.4. Market Attractiveness Analysis By Region

13. North America Medium Voltage Drives Market Analysis 2015-2021 and Forecast 2022-2032

    13.1. Introduction

    13.2. Pricing Analysis

    13.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021

    13.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        13.4.1. By Country

            13.4.1.1. U.S.

            13.4.1.2. Canada

            13.4.1.3. Rest of North America

        13.4.2. By Power Range

        13.4.3. By End User

        13.4.4. By Application

        13.4.5. By Drive

    13.5. Market Attractiveness Analysis

        13.5.1. By Country

        13.5.2. By Power Range

        13.5.3. By End User

        13.5.4. By Application

        13.5.5. By Drive

14. Latin America Medium Voltage Drives Market Analysis 2015-2021 and Forecast 2022-2032

    14.1. Introduction

    14.2. Pricing Analysis

    14.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021

    14.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        14.4.1. By Country

            14.4.1.1. Brazil

            14.4.1.2. Mexico

            14.4.1.3. Rest of Latin America

        14.4.2. By Power Range

        14.4.3. By End User

        14.4.4. By Application

        14.4.5. By Drive

    14.5. Market Attractiveness Analysis

        14.5.1. By Country

        14.5.2. By Power Range

        14.5.3. By End User

        14.5.4. By Application

        14.5.5. By Drive

15. Europe Medium Voltage Drives Market Analysis 2015-2021 and Forecast 2022-2032

    15.1. Introduction

    15.2. Pricing Analysis

    15.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021

    15.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        15.4.1. By Country

            15.4.1.1. Germany

            15.4.1.2. France

            15.4.1.3. U.K.

            15.4.1.4. Italy

            15.4.1.5. Benelux

            15.4.1.6. Nordic Countries

            15.4.1.7. Rest of Europe

        15.4.2. By Power Range

        15.4.3. By End User

        15.4.4. By Application

        15.4.5. By Drive

    15.5. Market Attractiveness Analysis

        15.5.1. By Country

        15.5.2. By Power Range

        15.5.3. By End User

        15.5.4. By Application

        15.5.5. By Drive

16. Asia Pacific Medium Voltage Drives Market Analysis 2015-2021 and Forecast 2022-2032

    16.1. Introduction

    16.2. Pricing Analysis

    16.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021

    16.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        16.4.1. By Country

            16.4.1.1. China

            16.4.1.2. Japan

            16.4.1.3. South Korea

            16.4.1.4. Rest of Asia Pacific

        16.4.2. By Power Range

        16.4.3. By End User

        16.4.4. By Application

        16.4.5. By Drive

    16.5. Market Attractiveness Analysis

        16.5.1. By Country

        16.5.2. By Power Range

        16.5.3. By End User

        16.5.4. By Application

        16.5.5. By Drive

17. Middle East and Africa Medium Voltage Drives Market Analysis 2015-2021 and Forecast 2022-2032

    17.1. Introduction

    17.2. Pricing Analysis

    17.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021

    17.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032

        17.4.1. By Country

            17.4.1.1. GCC Countries

            17.4.1.2. South Africa

            17.4.1.3. Turkey

            17.4.1.4. Rest of Middle East and Africa

        17.4.2. By Power Range

        17.4.3. By End User

        17.4.4. By Application

        17.4.5. By Drive

    17.5. Market Attractiveness Analysis

        17.5.1. By Country

        17.5.2. By Power Range

        17.5.3. By End User

        17.5.4. By Application

        17.5.5. By Drive

18. Key Countries Medium Voltage Drives Market Analysis 2015-2021 and Forecast 2022-2032

    18.1. Introduction

        18.1.1. Market Value Proportion Analysis, By Key Countries

        18.1.2. Global Vs. Country Growth Comparison

    18.2. US Medium Voltage Drives Market Analysis

        18.2.1. Value Proportion Analysis by Market Taxonomy

        18.2.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.2.2.1. By Power Range

            18.2.2.2. By End User

            18.2.2.3. By Application

            18.2.2.4. By Drive

    18.3. Canada Medium Voltage Drives Market Analysis

        18.3.1. Value Proportion Analysis by Market Taxonomy

        18.3.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.3.2.1. By Power Range

            18.3.2.2. By End User

            18.3.2.3. By Application

            18.3.2.4. By Drive

    18.4. Mexico Medium Voltage Drives Market Analysis

        18.4.1. Value Proportion Analysis by Market Taxonomy

        18.4.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.4.2.1. By Power Range

            18.4.2.2. By End User

            18.4.2.3. By Application

            18.4.2.4. By Drive

    18.5. Brazil Medium Voltage Drives Market Analysis

        18.5.1. Value Proportion Analysis by Market Taxonomy

        18.5.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.5.2.1. By Power Range

            18.5.2.2. By End User

            18.5.2.3. By Application

            18.5.2.4. By Drive

    18.6. Germany Medium Voltage Drives Market Analysis

        18.6.1. Value Proportion Analysis by Market Taxonomy

        18.6.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.6.2.1. By Power Range

            18.6.2.2. By End User

            18.6.2.3. By Application

            18.6.2.4. By Drive

    18.7. France Medium Voltage Drives Market Analysis

        18.7.1. Value Proportion Analysis by Market Taxonomy

        18.7.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.7.2.1. By Power Range

            18.7.2.2. By End User

            18.7.2.3. By Application

            18.7.2.4. By Drive

    18.8. Italy Medium Voltage Drives Market Analysis

        18.8.1. Value Proportion Analysis by Market Taxonomy

        18.8.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.8.2.1. By Power Range

            18.8.2.2. By End User

            18.8.2.3. By Application

            18.8.2.4. By Drive

    18.9. BENELUX Medium Voltage Drives Market Analysis

        18.9.1. Value Proportion Analysis by Market Taxonomy

        18.9.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.9.2.1. By Power Range

            18.9.2.2. By End User

            18.9.2.3. By Application

            18.9.2.4. By Drive

    18.10. UK Medium Voltage Drives Market Analysis

        18.10.1. Value Proportion Analysis by Market Taxonomy

        18.10.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.10.2.1. By Power Range

            18.10.2.2. By End User

            18.10.2.3. By Application

            18.10.2.4. By Drive

    18.11. Nordic Countries Medium Voltage Drives Market Analysis

        18.11.1. Value Proportion Analysis by Market Taxonomy

        18.11.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.11.2.1. By Power Range

            18.11.2.2. By End User

            18.11.2.3. By Application

            18.11.2.4. By Drive

    18.12. China Medium Voltage Drives Market Analysis

        18.12.1. Value Proportion Analysis by Market Taxonomy

        18.12.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.12.2.1. By Power Range

            18.12.2.2. By End User

            18.12.2.3. By Application

            18.12.2.4. By Drive

    18.13. Japan Medium Voltage Drives Market Analysis

        18.13.1. Value Proportion Analysis by Market Taxonomy

        18.13.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.13.2.1. By Power Range

            18.13.2.2. By End User

            18.13.2.3. By Application

            18.13.2.4. By Drive

    18.14. South Korea Medium Voltage Drives Market Analysis

        18.14.1. Value Proportion Analysis by Market Taxonomy

        18.14.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.14.2.1. By Power Range

            18.14.2.2. By End User

            18.14.2.3. By Application

            18.14.2.4. By Drive

    18.15. GCC Countries Medium Voltage Drives Market Analysis

        18.15.1. Value Proportion Analysis by Market Taxonomy

        18.15.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.15.2.1. By Power Range

            18.15.2.2. By End User

            18.15.2.3. By Application

            18.15.2.4. By Drive

    18.16. South Africa Medium Voltage Drives Market Analysis

        18.16.1. Value Proportion Analysis by Market Taxonomy

        18.16.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.16.2.1. By Power Range

            18.16.2.2. By End User

            18.16.2.3. By Application

            18.16.2.4. By Drive

    18.17. Turkey Medium Voltage Drives Market Analysis

        18.17.1. Value Proportion Analysis by Market Taxonomy

        18.17.2. Value Analysis and Forecast by Market Taxonomy, 2015-2032

            18.17.2.1. By Power Range

            18.17.2.2. By End User

            18.17.2.3. By Application

            18.17.2.4. By Drive

        18.17.3. Competition Landscape and Player Concentration in the Country

19. Market Structure Analysis

    19.1. Market Analysis by Tier of Companies 

    19.2. Market Concentration

    19.3. Market Share Analysis of Top Players

    19.4. Market Presence Analysis

        19.4.1. By Regional footprint of Players

        19.4.2. Product footprint by Players

20. Competition Analysis

    20.1. Competition Dashboard

    20.2. Competition Benchmarking

    20.3. Competition Deep Dive 

        20.3.1. Siemens

            20.3.1.1. Overview

            20.3.1.2. Product Portfolio

            20.3.1.3. Sales Footprint

            20.3.1.4. Strategy Overview

        20.3.2. Johnson Controls

            20.3.2.1. Overview

            20.3.2.2. Product Portfolio

            20.3.2.3. Sales Footprint

            20.3.2.4. Strategy Overview

        20.3.3. ABB

            20.3.3.1. Overview

            20.3.3.2. Product Portfolio

            20.3.3.3. Sales Footprint

            20.3.3.4. Strategy Overview

        20.3.4. Schneider Electric

            20.3.4.1. Overview

            20.3.4.2. Product Portfolio

            20.3.4.3. Sales Footprint

            20.3.4.4. Strategy Overview

        20.3.5. Eaton

            20.3.5.1. Overview

            20.3.5.2. Product Portfolio

            20.3.5.3. Sales Footprint

            20.3.5.4. Strategy Overview

        20.3.6. Fuji Electric Co., Ltd

            20.3.6.1. Overview

            20.3.6.2. Product Portfolio

            20.3.6.3. Sales Footprint

            20.3.6.4. Strategy Overview

        20.3.7. Rockwell Automation, Inc.

            20.3.7.1. Overview

            20.3.7.2. Product Portfolio

            20.3.7.3. Sales Footprint

            20.3.7.4. Strategy Overview

        20.3.8. WEG

            20.3.8.1. Overview

            20.3.8.2. Product Portfolio

            20.3.8.3. Sales Footprint

            20.3.8.4. Strategy Overview

        20.3.9. Yaskawa Electric Corporation

            20.3.9.1. Overview

            20.3.9.2. Product Portfolio

            20.3.9.3. Sales Footprint

            20.3.9.4. Strategy Overview

        20.3.10. Nidec Corporation

            20.3.10.1. Overview

            20.3.10.2. Product Portfolio

            20.3.10.3. Sales Footprint

            20.3.10.4. Strategy Overview

21. Assumptions and Acronyms Used

22. Research Methodology

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List of Tables

Table 1: Global Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2015 – 2021

Table 2: Global Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2022 – 2032

Table 3: Global Medium Voltage Drives Market Value (US$ Mn), By End User, 2015 – 2021

Table 4: Global Medium Voltage Drives Market Value (US$ Mn), By End User, 2022 – 2032

Table 5: Global Medium Voltage Drives Market Value (US$ Mn), By Drive, 2015 – 2021

Table 6: Global Medium Voltage Drives Market Value (US$ Mn), By Drive, 2022 – 2032

Table 7: Global Medium Voltage Drives Market Value (US$ Mn), By Application, 2015 – 2021

Table 8: Global Medium Voltage Drives Market Value (US$ Mn), By Application, 2022 – 2032

Table 9: Global Medium Voltage Drives Market, By Region, 2015 – 2021

Table 10: Global Medium Voltage Drives Market, By Region, 2022 – 2032

Table 11: North America Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2015 – 2021

Table 12: North America Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2022 – 2032

Table 13: North America Medium Voltage Drives Market Value (US$ Mn), By End User, 2015 – 2021

Table 14: North America Medium Voltage Drives Market Value (US$ Mn), By End User, 2022 – 2032

Table 15: North America Medium Voltage Drives Market Value (US$ Mn), By Drive, 2015 – 2021

Table 16: North America Medium Voltage Drives Market Value (US$ Mn), By Drive, 2022 – 2032

Table 17: North America Medium Voltage Drives Market Value (US$ Mn), By Application, 2015 – 2021

Table 18: North America Medium Voltage Drives Market Value (US$ Mn), By Application, 2022 – 2032

Table 19: North America Medium Voltage Drives Market, By Country, 2015 – 2021

Table 20: North America Medium Voltage Drives Market, By Country, 2022 – 2032

Table 21: Latin America Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2015 – 2021

Table 22: Latin America Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2022 – 2032

Table 23: Latin America Medium Voltage Drives Market Value (US$ Mn), By End User, 2015 – 2021

Table 24: Latin America Medium Voltage Drives Market Value (US$ Mn), By End User, 2022 – 2032

Table 25: Latin America Medium Voltage Drives Market Value (US$ Mn), By Drive, 2015 – 2021

Table 26: Latin America Medium Voltage Drives Market Value (US$ Mn), By Drive, 2022 – 2032

Table 27: Latin America Medium Voltage Drives Market Value (US$ Mn), By Application, 2015 – 2021

Table 28: Latin America Medium Voltage Drives Market Value (US$ Mn), By Application, 2022 – 2032

Table 29: Latin America Medium Voltage Drives Market, By Country, 2015 – 2021

Table 30: Latin America Medium Voltage Drives Market, By Country, 2022 – 2032

Table 31: Europe Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2015 – 2021

Table 32: Europe Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2022 – 2032

Table 33: Europe Medium Voltage Drives Market Value (US$ Mn), By End User, 2015 – 2021

Table 34: Europe Medium Voltage Drives Market Value (US$ Mn), By End User, 2022 – 2032

Table 35: Europe Medium Voltage Drives Market Value (US$ Mn), By Drive, 2015 – 2021

Table 36: Europe Medium Voltage Drives Market Value (US$ Mn), By Drive, 2022 – 2032

Table 37: Europe Medium Voltage Drives Market Value (US$ Mn), By Application, 2015 – 2021

Table 38: Europe Medium Voltage Drives Market Value (US$ Mn), By Application, 2022 – 2032

Table 39: Europe Medium Voltage Drives Market, By Country, 2015 – 2021

Table 40: Europe Medium Voltage Drives Market, By Country, 2022 – 2032

Table 41: Asia Pacific Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2015 – 2021

Table 42: Asia Pacific Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2022 – 2032

Table 43: Asia Pacific Medium Voltage Drives Market Value (US$ Mn), By End User, 2015 – 2021

Table 44: Asia Pacific Medium Voltage Drives Market Value (US$ Mn), By End User, 2022 – 2032

Table 45: Asia Pacific Medium Voltage Drives Market Value (US$ Mn), By Drive, 2015 – 2021

Table 46: Asia Pacific Medium Voltage Drives Market Value (US$ Mn), By Drive, 2022 – 2032

Table 47: Asia Pacific Medium Voltage Drives Market Value (US$ Mn), By Application, 2015 – 2021

Table 48: Asia Pacific Medium Voltage Drives Market Value (US$ Mn), By Application, 2022 – 2032

Table 49: Asia Pacific Medium Voltage Drives Market, By Country, 2015 – 2021

Table 50: Asia Pacific Medium Voltage Drives Market, By Country, 2022 – 2032

Table 51: MEA Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2015 – 2021

Table 52: MEA Medium Voltage Drives Market Value (US$ Mn),By Power Range, 2022 – 2032

Table 53: MEA Medium Voltage Drives Market Value (US$ Mn), By End User, 2015 – 2021

Table 54: MEA Medium Voltage Drives Market Value (US$ Mn), By End User, 2022 – 2032

Table 55: MEA Medium Voltage Drives Market Value (US$ Mn), By Drive, 2015 – 2021

Table 56: MEA Medium Voltage Drives Market Value (US$ Mn), By Drive, 2022 – 2032

Table 57: MEA Medium Voltage Drives Market Value (US$ Mn), By Application, 2015 – 2021

Table 58: MEA Medium Voltage Drives Market Value (US$ Mn), By Application, 2022 – 2032

Table 59: MEA Medium Voltage Drives Market, By Country, 2015 – 2021

Table 60: MEA Medium Voltage Drives Market, By Country, 2022 – 2032

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List of Charts

Figure 1: Global Medium Voltage Drives Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 2: Global Medium Voltage Drives Market Absolute $ Historical Gain (2015 - 2021) and Opportunity (2022 – 2032), US$ Mn

Figure 3: Global Medium Voltage Drives Market Share, By Power Range, 2022 & 2032

Figure 4: Global Medium Voltage Drives Market Y-o-Y Growth Projections, By Power Range – 2022-2032

Figure 5: Global Medium Voltage Drives Market Attractiveness Index, By Power Range – 2022-2032

Figure 6: Global Medium Voltage Drives Market Share, By End User, 2022 & 2032

Figure 7: Global Medium Voltage Drives Market Y-o-Y Growth Projections, By End User – 2022-2032

Figure 8: Global Medium Voltage Drives Market Attractiveness Index, By End User – 2022-2032

Figure 9: Global Medium Voltage Drives Market Share, By Application, 2022 & 2032

Figure 10: Global Medium Voltage Drives Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 11: Global Medium Voltage Drives Market Attractiveness Index, By Application – 2022-2032

Figure 12: Global Medium Voltage Drives Market Share, By Drive, 2022 & 2032

Figure 13: Global Medium Voltage Drives Market Y-o-Y Growth Projections, By Drive – 2022-2032

Figure 14: Global Medium Voltage Drives Market Attractiveness Index, By Drive – 2022-2032

Figure 15: Global Medium Voltage Drives Market Share, By Region, 2022 & 2032

Figure 16: Global Medium Voltage Drives Market Y-o-Y Growth Projections, By Region – 2022-2032

Figure 17: Global Medium Voltage Drives Market Attractiveness Index, By Region – 2022-2032

Figure 18: North America Medium Voltage Drives Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 19: North America Medium Voltage Drives Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn

Figure 20: North America Medium Voltage Drives Market Share, By Power Range, 2022 & 2032

Figure 21: North America Medium Voltage Drives Market Y-o-Y Growth Projections, By Power Range – 2022-2032

Figure 22: North America Medium Voltage Drives Market Attractiveness Index, By Power Range – 2022-2032

Figure 23: North America Medium Voltage Drives Market Share, By End User, 2022 & 2032

Figure 24: North America Medium Voltage Drives Market Y-o-Y Growth Projections, By End User – 2022-2032

Figure 25: North America Medium Voltage Drives Market Attractiveness Index, By End User – 2022-2032

Figure 26: North America Medium Voltage Drives Market Share, By Application, 2022 & 2032

Figure 27: North America Medium Voltage Drives Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 28: North America Medium Voltage Drives Market Attractiveness Index, By Application – 2022-2032

Figure 29: North America Medium Voltage Drives Market Share, By Drive, 2022 & 2032

Figure 30: North America Medium Voltage Drives Market Y-o-Y Growth Projections, By Drive – 2022-2032

Figure 31: North America Medium Voltage Drives Market Attractiveness Index, By Drive – 2022-2032

Figure 32: North America Medium Voltage Drives Market Share, By Country, 2022 & 2032

Figure 33: North America Medium Voltage Drives Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 34: North America Medium Voltage Drives Market Attractiveness Index, By Country – 2022-2032

Figure 35: Latin America Medium Voltage Drives Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 36: Latin America Medium Voltage Drives Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn

Figure 37: Latin America Medium Voltage Drives Market Share, By Power Range, 2022 & 2032

Figure 38: Latin America Medium Voltage Drives Market Y-o-Y Growth Projections, By Power Range – 2022-2032

Figure 39: Latin America Medium Voltage Drives Market Attractiveness Index, By Power Range – 2022-2032

Figure 40: Latin America Medium Voltage Drives Market Share, By End User, 2022 & 2032

Figure 41: Latin America Medium Voltage Drives Market Y-o-Y Growth Projections, By End User – 2022-2032

Figure 42: Latin America Medium Voltage Drives Market Attractiveness Index, By End User – 2022-2032

Figure 43: Latin America Medium Voltage Drives Market Share, By Application, 2022 & 2032

Figure 44: Latin America Medium Voltage Drives Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 45: Latin America Medium Voltage Drives Market Attractiveness Index, By Application – 2022-2032

Figure 46: Latin America Medium Voltage Drives Market Share, By Drive, 2022 & 2032

Figure 47: Latin America Medium Voltage Drives Market Y-o-Y Growth Projections, By Drive – 2022-2032

Figure 48: Latin America Medium Voltage Drives Market Attractiveness Index, By Drive – 2022-2032

Figure 49: Latin America Medium Voltage Drives Market Share, By Country, 2022 & 2032

Figure 50: Latin America Medium Voltage Drives Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 51: Latin America Medium Voltage Drives Market Attractiveness Index, By Country – 2022-2032

Figure 52: Europe Medium Voltage Drives Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 53: Europe Medium Voltage Drives Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn

Figure 54: Europe Medium Voltage Drives Market Share, By Power Range, 2022 & 2032

Figure 55: Europe Medium Voltage Drives Market Y-o-Y Growth Projections, By Power Range – 2022-2032

Figure 56: Europe Medium Voltage Drives Market Attractiveness Index, By Power Range – 2022-2032

Figure 57: Europe Medium Voltage Drives Market Share, By End User, 2022 & 2032

Figure 58: Europe Medium Voltage Drives Market Y-o-Y Growth Projections, By End User – 2022-2032

Figure 59: Europe Medium Voltage Drives Market Attractiveness Index, By End User – 2022-2032

Figure 60: Europe Medium Voltage Drives Market Share, By Application, 2022 & 2032

Figure 61: Europe Medium Voltage Drives Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 62: Europe Medium Voltage Drives Market Attractiveness Index, By Application – 2022-2032

Figure 63: Europe Medium Voltage Drives Market Share, By Drive, 2022 & 2032

Figure 64: Europe Medium Voltage Drives Market Y-o-Y Growth Projections, By Drive – 2022-2032

Figure 65: Europe Medium Voltage Drives Market Attractiveness Index, By Drive – 2022-2032

Figure 66: Europe Medium Voltage Drives Market Share, By Country, 2022 & 2032

Figure 67: Europe Medium Voltage Drives Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 68: Europe Medium Voltage Drives Market Attractiveness Index, By Country – 2022-2032

Figure 69: MEA Medium Voltage Drives Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 70: MEA Medium Voltage Drives Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn

Figure 71: MEA Medium Voltage Drives Market Share, By Power Range, 2022 & 2032

Figure 72: MEA Medium Voltage Drives Market Y-o-Y Growth Projections, By Power Range – 2022-2032

Figure 73: MEA Medium Voltage Drives Market Attractiveness Index, By Power Range – 2022-2032

Figure 74: MEA Medium Voltage Drives Market Share, By End User, 2022 & 2032

Figure 75: MEA Medium Voltage Drives Market Y-o-Y Growth Projections, By End User – 2022-2032

Figure 76: MEA Medium Voltage Drives Market Attractiveness Index, By End User – 2022-2032

Figure 77: MEA Medium Voltage Drives Market Share, By Application, 2022 & 2032

Figure 78: MEA Medium Voltage Drives Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 79: MEA Medium Voltage Drives Market Attractiveness Index, By Application – 2022-2032

Figure 80: MEA Medium Voltage Drives Market Share, By Drive, 2022 & 2032

Figure 81: MEA Medium Voltage Drives Market Y-o-Y Growth Projections, By Drive – 2022-2032

Figure 82: MEA Medium Voltage Drives Market Attractiveness Index, By Drive – 2022-2032

Figure 83: MEA Medium Voltage Drives Market Share, By Country, 2022 & 2032

Figure 84: MEA Medium Voltage Drives Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 85: MEA Medium Voltage Drives Market Attractiveness Index, By Country – 2022-2032

Figure 86: Asia Pacific Medium Voltage Drives Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032

Figure 87: Asia Pacific Medium Voltage Drives Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn

Figure 88: Asia Pacific Medium Voltage Drives Market Share, By Power Range, 2022 & 2032

Figure 89: Asia Pacific Medium Voltage Drives Market Y-o-Y Growth Projections, By Power Range – 2022-2032

Figure 90: Asia Pacific Medium Voltage Drives Market Attractiveness Index, By Power Range – 2022-2032

Figure 91: Asia Pacific Medium Voltage Drives Market Share, By End User, 2022 & 2032

Figure 92: Asia Pacific Medium Voltage Drives Market Y-o-Y Growth Projections, By End User – 2022-2032

Figure 93: Asia Pacific Medium Voltage Drives Market Attractiveness Index, By End User – 2022-2032

Figure 94: Asia Pacific Medium Voltage Drives Market Share, By Application, 2022 & 2032

Figure 95: Asia Pacific Medium Voltage Drives Market Y-o-Y Growth Projections, By Application – 2022-2032

Figure 96: Asia Pacific Medium Voltage Drives Market Attractiveness Index, By Application – 2022-2032

Figure 97: Asia Pacific Medium Voltage Drives Market Share, By Drive, 2022 & 2032

Figure 98: Asia Pacific Medium Voltage Drives Market Y-o-Y Growth Projections, By Drive – 2022-2032

Figure 99: Asia Pacific Medium Voltage Drives Market Attractiveness Index, By Drive – 2022-2032

Figure 100: Asia Pacific Medium Voltage Drives Market Share, By Country, 2022 & 2032

Figure 101: Asia Pacific Medium Voltage Drives Market Y-o-Y Growth Projections, By Country – 2022-2032

Figure 102: Asia Pacific Medium Voltage Drives Market Attractiveness Index, By Country – 2022-2032

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