Medium Voltage Drives Market

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Medium Voltage Drives Market 2022 To 2028, Key
Industry Players Growth Trends
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Industry Overview

• The medium voltage drives market is expected to
  gain substantial traction by 2028 due to
  stringent government regulations focused on
  promoting the deployment of energy-efficient
  products across key regions.
• Medium-voltage AC drives provide hundreds of
  times more power than low-voltage drives, which
  allows them to control massive multi-megawatt
  electric motors that power the most potent
  industrial loads found in mines, power plants,
  and metal processing plants. These drives employ
  smaller cables and operate at higher supply
  voltages to reduce losses, resulting in higher
  overall drive efficiency and lower system cost,
  which has fueled product adoption over the past
  few years.
• Furthermore, to accommodate the soaring energy
  demand, industry participants have been employing
  lucrative strategies, which has supported the
  development of the global medium voltage drives
  market. For instance, in November 2020, Rockwell
  Automation, Inc., a U.S.-based industrial
  automation company, launched its novel servo
  drive, the Allen-Bradley Kinetix 5300 servo
  drive. The Allen-Bradley Kinetix 5300 servo drive
  has been designed for small- and mid-sized
  machines across applications like packaging,
  electronics assembly, and converting, printing
  and web (CPW).
• The medium voltage drives market has been
  segregated on the basis of end-use, power range,
  application, drive, and region.

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Continue

• With respect to drive, the medium voltage drives
  market has been divided into servo, AC, and DC.
  The DC sub-segment held a revenue share of about
  3 in 2021 and is projected to expand at a steady
  growth rate over the analysis period.
• From the end-use point of view, the market has
  been categorized into marine, oil gas, pulp
  paper, power generation, mining metals, and
  others. The medium voltage drives market from the
  oil gas sub-segment is set to garner a
  significant valuation by the end of 2028 on
  account of rising investments to boost the
  development of upstream, midstream, and
  downstream hydrocarbon activities.
• From the regional perspective, the North America
  medium voltage drives market is slated to
  register a sizable market share by 2028,
  progressing at a CAGR of approximately 4 through
  the study timeframe. Meanwhile, the Middle East
  Africa medium voltage drives industry is poised
  to observe exponential development through the
  forecast period owing to the mounting energy
  demand. In addition, huge untapped potential
  across end-use sectors in MEA is estimated to
  drive regional market expansion over the
  forthcoming years.

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Medium Voltage Drives Market

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