Medium Voltage AC Drives Market: Market Overview
The medium voltage AC drives are perfectly aligned with medium and high voltage motors, to create a flawless coordinated system. The medium voltage AC drives have applications in controlling standard motors, which are used to drive applications such as fans, conveyors, compressors, mills, mixers, and pumps, etc. They are also used for high power, high speed and special performance applications such as compressors, fans, large pumps, marine propulsions and thrusters, rolling mills, SAG and ball mills, etc. The medium voltage AC drives help in cost reduction and energy conservation. They operate at greater supply voltages to acquire lower losses and they also use smaller cables which enhance overall drive and efficiency, thus reducing the system cost. As compared to the low voltage drives, the medium voltage AC drives produce hundred times greater power output; which enables them to control huge, multi-megawatt electric motors that power some of the largest industrial loads found in mines, metal processing plants or in power stations. However, the definition of medium voltage is different with respect to different industries. Since medium voltage motors are typically some of the largest consumers of power in many heavy industries; thus applying medium voltage AC drives for these applications can dramatically reduce power consumption and energy costs.
Medium Voltage AC Drives Market: Market Dynamics
The growing demand for equipment capable of reducing overall power and energy consumption, is fueling the growth of the medium voltage AC drives. The need to reduce downtime in industrial processes is also contributing to the growth of the medium voltage AC drives market. The need for high reliability coupled with a low harmonics distortion, reactive power control operation and regenerative operation in the industry; is one of the major driving factors. However, the high initial cost of investment is a restraining factor for the growth of the medium voltage AC drives market. The power saving feature of the medium voltage AC drives widens the scope of their market as they can be included in green and sustainable industrial projects. The versatile functions of the medium voltage AC drive market also create the opportunity for market growth. For instance, functions such as instantaneous power loss tracing function, self-diagnosis function, current limiting function, and automatic voltage adjustment function, etc. One of the prominent trends of the medium voltage AC drives is the availability of customized and tailored drives according to the specific requirements of the customer. Another prominent feature of the medium voltage AC drives is the wide range of input voltages, this coupled with the energy regeneration capability allows breaking of overhauling loads and frequent stopping of loads such as fans, pumps.
Medium Voltage AC Drives Market: Market Segmentation
The global medium voltage AC drives market can be segmented on the basis of end-use industries:
- Power Generation
- Metal Processing
- Cement Manufacturing
- Oil & Gas Refineries
- Mineral Extraction & Mining Processes
- Pulp & Paper
- Water Management
- Waste Water management
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Medium Voltage AC Drives Market: Regional Outlook
The global medium voltage AC drives market geographically is segmented as North America, Eastern Europe, Western Europe, Latin America, Asia-Pacific excluding Japan, Japan, and Middle East & Africa. North America and Europe hold a significant market share of medium voltage AC drives market owing to the fully automated manufacturing processes. Furthermore, the increase in R & D activities related to manufacturing equipment, wherein medium voltage AC drives are useful for energy conservation, aids in boosting the growth of its market in the region. The market in the APEJ region is more inclined towards growing demand for medium voltage AC drives because of the increasing industrial automation.
Medium Voltage AC Drives Market: Prominent Players
Some of the prominent players in the global medium voltage AC drives market are:
- Rockwell Automation, Inc.
- Schneider Electric
- Honeywell Automation
- Siemens Industry, Inc.
- Hitachi Hi-Rel Power Electronics Pvt. Ltd.
- Fuji Electric Co., Ltd.
- Spartan Controls Ltd.
- Yaskawa Electric Corporation
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