What is Global Medium Voltage Motors Market?
The Global Medium Voltage Motors Market is a vast and dynamic sector that encompasses a wide range of motors that operate within a specific voltage range. Medium voltage motors are those that function within a voltage range of 1000 V to 35 kV. These motors are a step above low voltage motors, which operate at up to 1000 V, and a step below high voltage motors, which function at over 35 kV. The global market for these medium voltage motors was valued at a significant US$ 5345.4 million in 2022. The market is expected to grow steadily, with projections indicating a value of US$ 6279.7 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 2.3% during the forecast period of 2023-2029.
AC Motors, DC Motors in the Global Medium Voltage Motors Market:
The global Medium Voltage Motors Market is dominated by several key players, with ABB leading the pack. ABB holds the largest market share of 15.86% in terms of revenue. Other significant players in the market include Nidec, General Electric(Wolong), Regal Beloit, SEVA-tec, TECO Electric & Machinery, Toshiba, VEM, and WEG. These top 9 listed companies collectively accounted for 47.27% of the market share in 2019. The market is diverse, with AC Motors accounting for a major share of 80.83% of the global Medium Voltage Motors market in 2019.
Process Industries, Discrete Industries, HVAC in the Global Medium Voltage Motors Market:
The Global Medium Voltage Motors Market finds extensive usage in various areas, including Process Industries, Discrete Industries, and HVAC. In Process Industries, these motors are used in various applications such as pumps, fans, compressors, and conveyors. They are preferred for their efficiency, reliability, and the ability to operate under harsh conditions. In Discrete Industries, medium voltage motors are used in applications that require precise control and high torque, such as robotics and CNC machines. In the HVAC industry, these motors are used in large commercial and industrial HVAC systems for their efficiency and ability to handle large loads. The versatility and efficiency of medium voltage motors make them a preferred choice in these industries.
Global Medium Voltage Motors Market Outlook:
The global Medium Voltage Motors Market outlook indicates a steady growth in the coming years. The market, which was valued at US$ 5345.4 million in 2022, is expected to reach US$ 6279.7 million by 2029. This growth is expected to occur at a CAGR of 2.3% during the forecast period of 2023-2029. The market is dominated by several key players, with ABB leading the pack with a market share of 15.86% in terms of revenue. Other significant players include Nidec, General Electric(Wolong), Regal Beloit, SEVA-tec, TECO Electric & Machinery, Toshiba, VEM, and WEG. These companies collectively accounted for 47.27% of the market share in 2019. The market is diverse, with AC Motors accounting for a major share of 80.83% in 2019.
| Report Metric | Details |
| Report Name | Medium Voltage Motors Market |
| Accounted market size in 2022 | US$ 5345.4 in million |
| Forecasted market size in 2029 | US$ 6279.7 million |
| CAGR | 2.3% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | ABB, Nidec, General Electric(Wolong), Regal Beloit, SEVA-tec, TECO Electric & Machinery, Toshiba, VEM |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
