Global Medium Voltage Motors Market 2024-2028
The medium voltage motors market is forecasted to grow by USD 1287.42 mn during 2023-2028, accelerating at a CAGR of 4.84% during the forecast period. The report on the medium voltage motors market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the revival of the CAPEX cycle in the energy sector, rising focus on energy efficiency due to high power consumption in industrial motors, and limitations of power ratings in medium-voltage motors.
Technavio's medium voltage motors market is segmented as below:
- Process industries
- Discrete industries
By Geographical Landscape
- North America
- Middle East and Africa
- South America
This study identifies the declining cost of renewable energy and ESS as one of the prime reasons driving the medium voltage motors market growth during the next few years. Also, development of medium voltage drives and distribution systems and remote condition monitoring in industrial motors will lead to sizable demand in the market.
The report on the medium voltage motors market covers the following areas:
- Medium voltage motors market sizing
- Medium voltage motors market forecast
- Medium voltage motors market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading medium voltage motors market vendors that include ABB Ltd., AC Motoren GmbH, Bharat Bijlee Ltd., Eaton Corp. Plc, General Electric Co., HOYER GmbH, Meidensha Corp., Menzel Elektromotoren GmbH, Nidec Corp., O.M.E. Motori Elettrici Srl, Parsons Peebles Ltd., Regal Beloit Corp., Ruselprom Trade Ltd., SEVA tec GmbH, Siemens AG, TECO Electric and Machinery Co. Ltd., Toshiba Corp., VYBO Electric AS, WEG Equipamentos Eletricos S.A., and Wolong Electric Group Co. Ltd. Also, the medium voltage motors market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.