The Global medium-voltage electric drives market is expected to experience a compound annual growth rate (CAGR) of 3.2% in value terms during the forecast period, with a projected value of USD 2,646.6 million by 2029.
In terms of product types, the medium-voltage AC drives segment dominated the market in 2023 and is projected to reach a valuation of USD 2,572.3 million by 2029. This segment is also anticipated to demonstrate the highest CAGR of 3.4% from 2024 to 2029.
The global medium-voltage electric drives market is segmented by industry, including oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R, paper, discrete manufacturing, and others. The discrete manufacturing segment is expected to reach USD 381.1 million by 2029, with a CAGR of 4.2% from 2024 to 2029.
Geographically, Asia-Pacific emerged as the dominant player in the medium-voltage electric drives market in 2023, followed closely by North America and Europe. The valuation of North America is projected to reach USD 739.8 million by 2029, while the Asia-Pacific region is anticipated to exhibit a higher CAGR of 4.0% from 2024 to 2029.
Key players in the global medium-voltage electric drives market include Siemens AG, ABB, Ltd., Danfoss A/S, Schneider Electric SE, Shanghai Electric Group Co., Ltd., Toshiba Corporation, WEG SA, and Yaskawa Electric Corporation. These top companies collectively held over 50% of the market share in 2022, highlighting their significant influence within the industry according to Tanalyze Ltd.’s report.
This study aims to analyze the global market for various segments of medium-voltage electric drives, including:
Product Type: Medium-voltage AC Drives and Medium-voltage DC Drives.
End-User: Oil & Gas, Petrochemicals, Power Generation, Minerals, Water Treatment, Food & Beverages, HVAC-R, Paper, Discrete Manufacturing, and Others.
Region: North America (USA, Canada, and Mexico), Europe (Germany, Italy, Russia, United Kingdom, France, Poland, Sweden, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Thailand, and Rest of Asia Pacific), Latin America (Brazil, Chile, Colombia, and Latin America), and MEA (Saudi Arabia, UAE, Iran, Turkey, South Africa, and Rest of MEA).
Table of Contents
TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 5
Part 1. Key Findings 10
Part 2. Scope and Methodology 11
Report Scope 12
Product Type 12
End-User 12
Region 12
Research Methodology 14
Part 3. Medium-Voltage Electric Drives Market Overview 16
Summary 16
Introduction 17
Part 4. Global Medium-Voltage Electric Drives Market by Product Type 18
Medium-voltage AC Drives Market by End-User 20
Medium-voltage DC Drives Market by End-User 22
Part 5. Global Medium-Voltage Electric Drives Market by End-User 24
Part 6. Global Medium-Voltage Electric Drives Market by Region 26
Part 7. North America Medium-Voltage Electric Drives Market 29
Market by Product Type 29
Medium-voltage AC Drives Market by End-User 31
Medium-voltage DC Drives Market by End-User 33
Market by End-User 35
Market by Country 37
Market by Competitors 38
Part 8. Europe Medium-Voltage Electric Drives Market 39
Market by Product Type 39
Medium-voltage AC Drives Market by End-User 41
Medium-voltage DC Drives Market by End-User 43
Market by End-User 45
Market by Country 47
Market by Competitors 48
Part 9. Asia Pacific Medium-Voltage Electric Drives Market 49
Market by Product Type 49
Medium-voltage AC Drives Market by End-User 51
Medium-voltage DC Drives Market by End-User 53
Market by End-User 55
Market by Country 57
Market by Competitors 58
Part 10. Latin America Medium-Voltage Electric Drives Market 59
Market by Product Type 59
Medium-voltage AC Drives Market by End-User 61
Medium-voltage DC Drives Market by End-User 63
Market by End-User 65
Market by Country 67
Market by Competitors 68
Part 11. MEA Medium-Voltage Electric Drives Market 69
Market by Product Type 69
Medium-voltage AC Drives Market by End-User 71
Medium-voltage DC Drives Market by End-User 73
Market by End-User 75
Market by Country 77
Market by Competitors 78
Part 12. Competitive Analysis 79
Competition Overview 79
Siemens AG 80
Business Overview 80
Contact Information 82
ABB, Ltd. 83
Business Overview 83
Contact Information 86
Danfoss A/S 87
Business Overview 87
Contact Information 89
Schneider Electric SE 90
Business Overview 90
Contact Information 92
Rockwell Automation, Inc. 93
Business Overview 93
Contact Information 96
Nidec Corporation 97
Business Overview 97
Small Precision Motors 99
Contact Information 100
Yaskawa Electric Corporation 101
Business Overview 101
Contact Information 103
WEG SA 104
Business Overview 104
Contact Information 107
Shanghai Electric Group Co., Ltd. 108
Business Overview 108
Contact Information 110
Toshiba Corporation 111
Business Overview 111
Contact Information 113
Disclaimer 114
FIGURES AND TABLES
Global Medium-Voltage Electric Drives Market, Net Growth, 2020-2029 (USD Million)
Global Medium-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
Global Medium-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
Global Medium-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
Global Medium-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Global Medium-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
Global Medium-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Global Medium-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
Global Medium-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Global Medium-voltage Electric Drives Market Share by Region, 2023
Global Medium-voltage Electric Drives Market by Region, 2020-2029 (USD Million)
Global Medium-voltage Electric Drives Market by Region, CAGR Historic and Forecast, 2020-2029
North America Medium-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
North America Medium-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
North America Medium-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Medium-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Medium-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Medium-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Medium-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Medium-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Medium-Voltage Electric Drives Market Share by Country, 2023
North America Medium-Voltage Electric Drives Market Share (%) by Competitors, 2022
Europe Medium-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
Europe Medium-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
Europe Medium-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
Europe Medium-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Europe Medium-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
Europe Medium-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Europe Medium-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
Europe Medium-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Europe Medium-Voltage Electric Drives Market Share by Country, 2023
Europe Medium-Voltage Electric Drives Market Share (%) by Competitors, 2022
Asia Pacific Medium-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
Asia Pacific Medium-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
Asia Pacific Medium-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
Asia Pacific Medium-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Asia Pacific Medium-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
Asia Pacific Medium-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Asia Pacific Medium-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
Asia Pacific Medium-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Asia Pacific Medium-Voltage Electric Drives Market Share by Country, 2023
Asia Pacific Medium-Voltage Electric Drives Market Share (%) by Competitors, 2022
Latin America Medium-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
Latin America Medium-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
Latin America Medium-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
Latin America Medium-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America Medium-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
Latin America Medium-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America Medium-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
Latin America Medium-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America Medium-Voltage Electric Drives Market Share by Country, 2023
Latin America Medium-Voltage Electric Drives Market Share (%) by Competitors, 2022
MEA Medium-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
MEA Medium-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
MEA Medium-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
MEA Medium-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
MEA Medium-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
MEA Medium-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
MEA Medium-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
MEA Medium-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
MEA Medium-Voltage Electric Drives Market Share by Country, 2023
MEA Medium-Voltage Electric Drives Market Share (%) by Competitors, 2022
Global Medium-Voltage Electric Drives Market Share (%) by Competitors, 2022
Siemens AG Financial Overview (EUR Million)
Siemens AG Revenue, by Segment, 2022
Siemens AG Revenue, by Region, 2022
ABB, Ltd. Financial Overview (USD Million)
ABB, Ltd. Revenue, by Type, 2022
ABB, Ltd. Revenue, by Segment, 2022
ABB, Ltd. Revenue, by Product, 2022
ABB, Ltd. Revenue, by Region, 2022
Danfoss A/S Financial Overview (EUR Million)
Danfoss A/S Revenue, by Segment, 2022
Danfoss A/S Revenue, by Region, 2022
Schneider Electric SE Financial Overview (EUR Million)
Schneider Electric SE Revenue, by Segment, 2022
Rockwell Automation, Inc. Financial Overview (USD Million)
Rockwell Automation, Inc. Revenue, by Segment, 2023
Rockwell Automation, Inc. Revenue, by Type, 2023
Rockwell Automation, Inc. Revenue, by Region, 2023
Nidec Corporation Financial Overview (JPY Billion)
Nidec Corporation Revenue, by Segment, 2023
Nidec Corporation Revenue, by Region, 2023
Nidec Corporation Small Precision Motors Revenue (JPY Billion)
Yaskawa Electric Corporation Financial Overview (JPY Million)
Yaskawa Electric Corporation Revenue, by Segment, 2023
Yaskawa Electric Corporation Revenue, by Region, 2023
WEG SA Financial Overview (BRL Million)
WEG SA Revenue, by Region, 2022
WEG SA Domestic Market Revenue, by Segment, 2022
WEG SA International Market Revenue, by Region, 2022
Shanghai Electric Group Co., Ltd. Financial Overview (CNY Billion)
Shanghai Electric Group Co., Ltd. Revenue, by Segment, 2023
Shanghai Electric Group Co., Ltd. Revenue, by Region, 2023
Toshiba Corporation Financial Overview (JPY Million)
Toshiba Corporation Revenue, by Region, 2023
Toshiba Corporation Revenue, by Segment, 2023