Latest News- Medium Voltage Motors Market: Process industries is expected to lead the End-user segment during 2025-2029

The Medium Voltage Motors Market is being driven by Revival of CAPEX cycle in energy sector

The Medium Voltage Motors Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1449.3 million. In the global energy market, there is a growing trend towards renewable sources of electricity generation, such as wind and solar power, over traditional thermal power plants, particularly coal-fired plants. This shift is driven by several factors, including environmental concerns, increasing demand for power in developed countries being met by renewable sources, and competitive pricing of renewable electricity. Multilateral financial institutions, including The World Bank Group and the International Monetary Fund (IMF), have largely ceased financing coal-fired power plants due to their negative environmental impact. Developed countries have largely stagnated in their coal-fired electricity generation capacity, while developing countries in Asia and Africa continue to build such plants. The competitive pricing of renewable electricity, driven by technological advancements and economies of scale, is reducing the investment appeal of thermal power plants. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Process industries
  • Discrete industries
  • HVAC
• Product
  • AC motors
  • DC motors
• Application
  • Pumps
  • Fans
  • Compressors
  • Conveyors
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Revival of CAPEX cycle in energy sector
• Rising focus on energy efficiency due to high power consumption in industrial motors
• Limitations of power ratings in medium-voltage motors

However, the market also witnesses some limitations, which are as follows:

• Need for changes when installing medium voltage motors
• Limited technical knowledge about connection and maintenance of medium voltage motors
• Fluctuating investment cycles in end-user industries

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Market Scope in Medium Voltage Motors Market Research Report

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Research Analysis Overview

The Medium Voltage Motors market encompasses various components and systems including electric motors, rotating machinery, motor control, motor drives, industrial automation, energy management, motor repair, motor re-winding, motor testing, motor diagnostics, motor optimization, and motor efficiency improvement. These elements are integral to motor control systems and motor protection systems, which are crucial for industrial safety, motor reliability, and motor performance. Motor selection, sizing, design, technology, innovation, electric power systems, power electronics, control engineering, electrical engineering, mechanical engineering, and reliability engineering are key considerations in the development and implementation of these systems.

Market Research Overview

The Medium Voltage Motors market is a significant segment of the thriving global Electrical Components and Equipment industry. This sector encompasses the manufacturing and sale of synchronous motors, asynchronous motors, wound rotor motors, squirrel cage motors, and permanent magnet motors. Furthermore, the market scope includes frequency converters that facilitate optimal motor performance. The parent market, valued at [market size], comprises companies dealing in electrical cables and wires, components, and equipment. Key product categories include water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Additionally, the market size is expanded by revenue generated from renting and leasing electrical components and equipment to diverse end-users, including industrial, commercial, and residential sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/