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Global Medium Voltage Motors Market is Expected to Grow at a CAGR of 5% in the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Medium Voltage Motors Market Report and Forecast 2021-2026’, the global medium voltage motors market is expected to grow at a CAGR of 5% in the forecast period of 2021-2026.

The medium voltage motors market is divided into products such as AC motors and DC motors. In 2020, the AC motors segment held a significant market share owing to the growing need for cost-efficient energy source, which is a key factor propelling the demand for medium voltage motors in several industries. A huge surge in the demand for the medium voltage motors is expected to emanate from the developing countries owing to the growing industrialisation. These motors are highly preferred by companies manufacturing products such as medical instruments, mining, oil and gas, and paper, and pulp, among others.

Regionally, the Asia Pacific is expected to witness a robust growth in the coming years. The region is witnessing the implementation of various supporting government regulations, which are encouraging opting for energy-efficient alternatives. This is positively influencing the market for medium voltage motors in the Asia Pacific. The growing replacement rate of aged devices being used currently is expected to boost the markets in North America and Europe.

The global market is also being supported in its growth by the streamlining of product lines and the M&A activities being undertaken by the players in the industry. In March 2018, ABB (OTCMKTS: ABLZF) integrated Baldor Electric Company into its global brand name as a part of streamlining and enhancing its product portfolio, especially in the United States. Baldor was acquired by ABB in 2011 and has since then helped the company solidify its footing in the North America region. Even after the brand integration, ABB has continued to market and manufacture product brands like Baldor-Reliance® motors. The integration will help Baldor leverage ABB’s local and global presence for the growth of their products.

Market Analysis by Product, End Use, and Region:

  • Based on product, the global medium voltage motors market can be divided into AC and DC motors.
  • Medium voltage motors find their end-uses in process industries, discrete industries, and the HVAC sector.
  • Regionally, the market can be divided into North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Findings of the Report:

  • The growing industrialisation in developing nations is a major factor supporting the market growth.
  • A large number of manufacturers are shifting focus towards innovative technology and high quality low and medium voltage motors to upgrade their productions, thereby leading to the rise in demand for advanced medium voltage motors.
  • The Asia Pacific is a prominent region in the global market due to the rising demand for medium voltage motors for coal handling systems, blowers, and feed water (power generation, water, and wastewater treatment, steel, cement, other plants being crucial developments in the region).

Key Offerings of the Report:

  • The EMR report gives an overview of the global medium voltage motors market for the periods (2016-2020) and forecast (2021-2026).
  • The report also provides historical market size (2016-2020) and gives the market forecast (2021-2026) for the products, end-uses, and major regions of medium voltage motors.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global medium voltage motors market are Baldor Electric Company, Inc., Brook Crompton UK Ltd, Johnson Electric Holdings Ltd., Regal Beloit Corp., Rockwell Automation Inc., Ametek, Inc., and Allied Motion Technologies Inc. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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