Latin America Medium-voltage Electric Drives Facts and Figures

Latin America Medium-voltage Electric Drives Facts and Figures

The Latin America medium-voltage electric drives market is expected to grow at a compound annual growth rate (CAGR) of 2.3% in value terms during the forecast period, reaching a projected value of USD 132.1 million by 2029.

In terms of product types, the medium-voltage AC drives segment led the market in 2023 and is projected to reach a valuation of USD 128.3 million by 2029. This segment is also expected to demonstrate the highest CAGR of 2.4% from 2024 to 2029.

The market for medium-voltage electric drives in Latin America is segmented by industry, including oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R, paper, discrete manufacturing, and others. The minerals segment is anticipated to reach USD 31.5 million by 2029, with a CAGR of 3.5% from 2024 to 2029. Additionally, the discrete manufacturing segment is forecasted to grow at a CAGR of 2.9% to USD 11.6 million by 2029.

Brazil stands as the largest country in the Latin America medium-voltage electric drives market in 2023.

Key players in the Latin American medium-voltage electric drives market include WEG SA, Rockwell Automation, Inc., ABB, Ltd., Siemens AG, Danfoss A/S, Schneider Electric SE, Nidec Corporation, and Yaskawa Electric Corporation. These top eight companies collectively held a 90% market share in 2022, highlighting their significant influence within the industry according to a report by Tanalyze Ltd.

This study aims to analyze the Latin America market for various segments of medium-voltage electric drives, including:

Product Type: Medium-voltage AC Drives and Medium-voltage DC Drives.

End-User: Oil & Gas, Petrochemicals, Power Generation, Minerals, Water Treatment, Food & Beverages, HVAC-R, Paper, Discrete Manufacturing, and Others.

Region: Brazil, Chile, Colombia, and Latin America.