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

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

The Middle East and Africa (MEA) medium-voltage electric drives market is expected to experience a compound annual growth rate (CAGR) of 2.6% in value terms during the forecast period, with a projected value of USD 89.0 million by 2029.

In terms of product types, the medium-voltage AC drives segment dominated the market in 2023 and is projected to reach a valuation of USD 86.3 million by 2029. This segment is also anticipated to demonstrate the highest CAGR of 2.7% from 2024 to 2029.

The MEA medium-voltage electric drives market is segmented by industry, including oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R, paper, discrete manufacturing, and others. The oil & gas segment is expected to reach USD 22.0 million by 2029, with a CAGR of 4.6% from 2024 to 2029. Additionally, the food & beverages segment is forecasted to grow at a CAGR of 3.6% to USD 5.7 million by 2029.

In 2023, the top three countries in the MEA medium-voltage electric drives market were Saudi Arabia, Iran, and Turkey, collectively accounting for approximately one-third of the market share.

Key players in the MEA medium-voltage electric drives market include Rockwell Automation, Inc., Siemens AG, Schneider Electric SE, ABB, Ltd., and Danfoss A/S. These top five companies collectively held over 60% of the market share in 2022, indicating their significant influence within the industry according to Tanalyze Ltd.'s report.

This study aims to analyze the MEA 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: Saudi Arabia, UAE, Iran, Turkey, South Africa, and Rest of MEA.