Middle East and Africa (MEA) Low-voltage Electric Drives Facts and Figures

Middle East and Africa (MEA) Low-voltage Electric Drives Facts and Figures

The Middle East and Africa (MEA) low-voltage electric drives market is forecasted to experience a Compound Annual Growth Rate (CAGR) of 2.8% from 2024 to 2029, culminating in a value of USD 286.4 million by the conclusion of 2029.

This market is segmented based on product type into three categories: Low-voltage AC drives, Low-voltage DC drives, and Low-voltage servo drives. Among these, the low-voltage AC drives segment dominated the market in 2023 and is expected to reach USD 248.9 million by 2029. Additionally, the low-voltage servo drives segment is projected to demonstrate the highest CAGR of 4.1% during the forecast period from 2024 to 2029.

In the MEA region, the oil & gas segment is anticipated to reach USD 70.6 million by 2029, with a CAGR of 2.4% from 2024 to 2029. Moreover, the revenue from the food & beverages segment is projected to grow at a CAGR of 4.1% to reach USD 18.7 million in 2029.

In 2023, the top three countries in the MEA region collectively accounted for approximately one-third of the market share.

Key players in the MEA low-voltage electric drives market include Rockwell Automation, Inc., Siemens AG, Schneider Electric SE, ABB, Ltd., and Danfoss A/S. As per Tanalyze Ltd.'s report, these top five companies collectively held over 60% of the market share in 2022, emphasizing their substantial influence within the industry.

This study aims to analyze the MEA market for various segments of low-voltage electric drives, including:

Product Type: Low-voltage AC Drives, Low-voltage DC Drives, and Low-voltage Servo Drives.

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

Region: Saudi Arabia, UAE, Iran, Turkey, South Africa, and Rest of MEA.