Medium Voltage Motors Market Outlook
According to the report by Expert Market Research (EMR), the global medium voltage motors market size is projected to grow at a CAGR of 5% between 2024 and 2032. Aided by the burgeoning need for energy-efficient solutions in various industries and the broadening applications of medium voltage motors, the market is expected to grow significantly by 2032.
Medium voltage motors, typically operating in the range of 2.3kV to 13.8kV, are central components in numerous industrial processes, enhancing operational efficiency and ensuring energy optimisation. These motors find extensive use in applications like compressors, pumps, fans, conveyors, and crushers, primarily in industries like oil & gas, mining, water treatment, and pulp & paper.
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One of the driving forces behind the global medium voltage motors market growth is the surging emphasis on energy conservation. With growing global concerns about carbon emissions and a simultaneous increase in energy costs, industries are continually seeking effective and sustainable ways to minimise energy consumption. Medium voltage motors, known for their superior efficiency and reliability, provide an apt solution to this challenge.
Additionally, the proliferating industrialisation in emerging economies poses a positive impact on the medium voltage motors market outlook. As industries scale and diversify, the demand for reliable, durable, and efficient machinery intensifies. In such a scenario, medium voltage motors, owing to their adaptability and operational advantages, have emerged as the preferred choice for various industrial applications.
The push for smart factories and the integration of Industry 4.0 principles further contribute to the rising popularity of medium voltage motors. These motors, when integrated with sensors and communication modules, can provide real-time feedback on performance, enabling predictive maintenance, reducing downtime, and ensuring operational efficiency.
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Furthermore, investments in the water and wastewater treatment sector, driven by the escalating need for sustainable water solutions amidst growing global water scarcity concerns, have indirectly boosted the medium voltage motors market demand. These motors, central to the operations of pumps and other equipment in treatment plants, play a critical role in ensuring seamless and efficient processing.
However, the market growth is not solely reliant on the motors’ functional attributes. Regulatory bodies worldwide are imposing stricter efficiency standards for industrial motors to reduce carbon footprints and promote energy conservation. Such regulations have nudged industries towards adopting medium voltage motors, known for meeting and often surpassing these stringent efficiency benchmarks.
Medium Voltage Motors Market Segmentation
The market can be divided based on product, end-use, and region.
Market Breakup by Product
- AC-Motors
- DC-Motors
Market Breakup by End-Use
- Process Industries
- Discrete Industries
- HVAC
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global medium voltage motors market. Some of the major players explored in the report by Expert Market Research are as follows:
- Menzel Elektromotoren GmbH
- Brook Crompton UK Ltd
- Regal Beloit Corporation
- Toshiba International Corporation
- Hoyer Motors
- Bharat Bijlee Limited (BBL)
- Others
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