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The medium voltage motors market is divided into products such as AC motors and DC motors. In 2019, 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.
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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.
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