North America Medium Voltage Drives Market - By Power Range, By Drive (AC, DC, Servo), By Application (Pump, Fan, Conveyor, Compressor, Extruder), By End-Use, & Forecast, 2024 - 2032
North America Medium Voltage Drives Market size will expand at 5.9% CAGR from 2024 to 2032, due to the increasing number of product launches focused on enhancing efficiency and reliability. Leading companies are developing advanced technologies to meet the growing demand for energy-efficient solutions. Engineers and researchers are continuously improving designs and exploring new applications to optimize performance and reduce environmental impacts.
The ongoing advancements to cater to industrial and commercial settings will add to the product uptake in the region. For instance, in April 2023, ABB introduced a medium-voltage VFD with a rated capacity ranging from 400 to 1,000 kV and voltage capabilities up to 6.9 kV for serving a wide range of applications without the need for custom engineering.
The market is segregated into power range, drive, application, end-use and country.
In terms of power range, the DC segment in the North America medium voltage drives industry is set to experience growth at a significant rate through 2032. This is due to higher integration of DC medium voltage with advanced control systems for enhancing efficiency and reliability. Engineers are developing new methodologies to optimize performance and reduce maintenance requirements. Moreover, the DC drives employ cutting-edge technologies, such as AI and IoT that further improve operational capabilities and predictive maintenance.
By application, the medium voltage drives market from the fan segment is projected to rise from 2024 to 2032. Medium voltage drives used for fans are undergoing refinement, for focusing on efficiency and noise reduction. They are integrated with advanced control algorithms to optimize fan speed and energy consumption. Innovations in materials and design to enhance reliability and lifespan for ensuring quieter operation and minimal environmental impacts will add to the segment growth.
Canada medium voltage drives industry size is projected to depict robust growth between 2024 and 2032. This is driven by the rise in energy efficiency regulations prompting manufacturers to innovate and comply with stringent standards. Companies are developing technologies that enhance energy efficiency and reduce carbon footprint for aligning with the commitment to sustainability in the country. Engineers are also exploring ways to seamlessly integrate medium voltage drives with renewable energy grids for optimizing performance and supporting the transition to cleaner energy sources in Canada
- Chapter 1 Methodology & Scope
- 1.1 Market definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid
- 1.4.2.2 Public
- Chapter 2 Industry Insights
- 2.1 Industry ecosystem analysis
- 2.1.1 Vendor matrix
- 2.2 Regulatory landscape
- 2.3 Industry impact forces
- 2.3.1 Growth drivers
- 2.3.2 Industry pitfalls & challenges
- 2.4 Growth potential analysis
- 2.5 Porter's Analysis
- 2.5.1 Bargaining power of suppliers
- 2.5.2 Bargaining power of buyers
- 2.5.3 Threat of new entrants
- 2.5.4 Threat of substitutes
- 2.6 PESTEL Analysis
- Chapter 3 Competitive Landscape, 2023
- 3.1 Strategic outlook
- 3.2 Innovation & sustainability landscape
- Chapter 4 Market Size and Forecast, By Power Range, 2019-2032, (Units & USD Million)
- 4.1 Key trends
- 4.2< 1 MW
- 4.3 1 MW - 3 MW
- 4.4 3 MW - 7 MW
- 4.5 > 7 MW
- Chapter 5 Market Size and Forecast, By Drive, 2019-2032, (Units & USD Million)
- 5.1 Key trends
- 5.2 AC
- 5.3 DC
- 5.4 Servo
- Chapter 6 Market Size and Forecast, By Application, 2019 - 2032, (Units & USD Million)
- 6.1 Key trends
- 6.2 Pump
- 6.3 Fan
- 6.4 Conveyor
- 6.5 Compressor
- 6.6 Extruder
- 6.7 Others
- Chapter 7 Market Size and Forecast, By End-Use, 2019 - 2032, (Units & USD Million)
- 7.1 Key trends
- 7.2 Oil and gas
- 7.3 Power generation
- 7.4 Mining & metals
- 7.5 Pulp & paper
- 7.6 Marine
- 7.7 Others
- Chapter 8 Market Size and Forecast, By Country, 2019 - 2032, (Units & USD Million)
- 8.1 Key trends
- 8.2 U.S.
- 8.3 Canada
- 8.4 Mexico
- Chapter 9 Company Profiles
- 9.1 ABB
- 9.2 Danfoss
- 9.3 Delta Electronics, Inc.
- 9.4 Eaton
- 9.5 GE Vernova
- 9.6 Hitachi Hi-Rel Power Electronics Private Limited
- 9.7 Ingeteam Power Technology, S.A
- 9.8 Johnson Controls
- 9.9 Nidec Industrial Solutions
- 9.10 Rockwell Automation
- 9.11 Schneider Electric
- 9.12 Siemens
- 9.13 TECO-Westinghouse
- 9.14 TMEIC
- 9.15 Toshiba International Corporation
- 9.16 Triol Corporation
- 9.17 WEG
- 9.18 Yaskawa America, Inc.
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