Global Medium Voltage AC Drive Market to reach USD 33.06 billion by 2027.Global Medium Voltage AC Drive Market is valued approximately USD 20.59 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.8 % over the forecast period 2021-2027. Alternate Current (AC) drives are electronic devices that control the speed and torque of an electric motor by alternative parameters such as frequency and magnetic flux. Rapidly growing industrialization and urbanization is driving the growth for the global medium voltage AC market. Nearly, 70% of all industrial development electrical energy is used to power electric motors. These motors help to reduce CO2 emission and is more energy efficient for the customers. Along with this, government regulation for obtaining energy efficiency is also major factor for growth driver. One with energy saving AC drive reduces wear and tear of mechanical product. Government regulations have boosted AC drives market. For instance, implementation of standards such as IOS 50001 (energy management-system standards) started on June 2011 and the standard is expected to influence up to 60% of global energy used and provide an internationally-recognized. However, decline in Foreign Direct Market (FDIs) and increasing price of these drives would also hinder the market growth during the forecasted period impedes the growth of the market over the forecast period of 2021-2027. Also, major development in urbanization fuel the market and is likely to increase the market growth during the forecast period.

The regional analysis of global Medium Voltage AC Drive market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading region across the world in terms of market share owing to significant growth in the rate of urbanization and rising industrialization holds a potential driver in the region. Whereas, North America is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as oil production in North America which will give leverage the demand of AC drivers there is sustainable growth in industrialization would create lucrative growth prospects for the Medium Voltage AC Drive market across Asia-Pacific region.

Major market player included in this report are:
ABB
Schneider Electric
Hitachi, Ltd.
Rockwell Automation, Inc.
Nidec Industrial Solution
Toshiba Mitsubishi-Electric Industrial System Corporation (TMEIC)
Yaskawa Electric Corporation
Honeywell International Inc.
Siemens
Danfoss

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Converter Type:
Voltage Source Inverter
Current Source Inverter
Load Commutated Inverter
By Application:
Pumps
Fans
Compressor
Conveyors
Others (Canes & Hoists)
By Voltage:
3KV to 7KV
7.1 KV to 14KV
14.1KV to 35KV
By Enclosure:
Water Cooled
Air Cooled
By End Users:
Oil & Gas
Power Generation
Pulp & Paper
Cement
Metal & Mining
Others (HVAC System)

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Medium Voltage AC Drive Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors