About Medium Voltage Motors
Medium voltage motors operate within the power range of 25 MW to 75 MW. Medium voltage motors are extremely beneficial for various industrial operations. Some of these benefits are reducing load on the equipment, lowering noise levels, reducing carbon emissions, delivering better control of processes to end-users, minimizing mechanical maintenance, and facilitating hazardous operations. By product, the global medium voltage motors market is classified into AC motors and DC motors.
Technavio’s analysts forecast the global medium voltage motors market to grow at a CAGR of 5.92% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global medium voltage motors market for 2017-2021. To calculate the market size, the report considers the new installations, sales, replacement, retrofit, and services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Medium Voltage Motors Market 2017-2021
Technavio recognizes the following companies as the key players in the global medium voltage motors market: ABB, WEG, GE, TOSHIBA, and TECO-Westinghouse.
Other Prominent Vendors in the market are: VEM, Brook Crompton, Rockwell Automation, Schneider Electric, OME, LEESON, maxon motor, Johnson Electric, and Bosch Rexroth.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is smart sensors for medium voltage motors. In the recent times, industries are becoming smart with the help of Internet of Things (IoT). Each component of industries is connected to cloud computing technology so that preventive and predictive maintenance can be carried out easily. As medium voltage motors are deployed inside the equipment, it becomes very difficult to maintain a regular check on the motors. Hence, motors are connected with smart sensors that send the information of a motor’s working condition to a cloud computing technology. In this way, people inside the facility can notice and maintain a proper timing for a motor’s service or repair if required. Smart sensors can be attached to the existing infrastructure as well. The end-users do not need to change the infrastructure to deploy sensors and get the motors connected to the whole industry through IoT.”
According to the report, one of the major drivers for this market is Cost saving due to efficient engineering. Efficient engineering that ensures proper designing of medium voltage motors enables faster production, more flexible operations, and enhanced intelligent facilities. The components of medium voltage motors are thoroughly tested to deliver reliable performance in the industry. The integration of appropriate design and tested components provide opportunity to end-users to save their time and cost of operations. This also minimizes the risk of internal or external damages to medium voltage motors. Integrated diagnostics helps companies to reduce their downtime and gives a better performance of the equipment. Efficient time saving helps end-users make their products easily and abundantly available in the market. This minimizes the overall spending of the end-users, hence offering strategic and competitive advantages.
Further, the report states that one of the major factors hindering the growth of this market is Government regulations for manufacturing of medium voltage motors. While designing motors, manufacturers need to adhere to various regulations that are followed worldwide. These regulations are set to ensure that the motors emit less amount of carbon and conserve the environment as well as energy. These regulations vary across regions; matching each region’s regulatory compliances becomes a challenging task for the manufacturers. As a result, manufacturers face problems in the expansion of their businesses in most regions. Therefore, though there is an increase in the number of unused motors produced by manufacturers, many remain unsold due to non-compliance with government regulations. These medium voltage motors that are manufactured by companies have to face a huge loss on not being sold, resulting in inventory build-up. Hence, companies find it difficult to manufacture motors in accordance with the compliance requirements of each region.
ABB, WEG, GE, TOSHIBA, and TECO-Westinghouse.VEM, Brook Crompton, Rockwell Automation, Schneider Electric, OME, LEESON, maxon motor, Johnson Electric, and Bosch Rexroth.
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