Industrial and Urban Expansion Propels Market Growth
This study covers hardware, software, and services for medium voltage AC
drives with the following power ranges: up to 0.5 MW; >0.5 - 3 MW; >3 -
7.5 MW; >7.5 - 10 MW; >10 MW-20MW; and >20 MW.
Worldwide drive for energy efficiency and the rising demand for medium
voltage AC drives from Asia due to industrial and urban expansion are major
factors for the market growth. These factors put heavy demands on the oil &
gas, electric power, and mining industries, which must use medium voltage AC
drives for many of their operations. Investments in the infrastructure
industries in many parts of the world created continued demand for medium
voltage AC drives in 2012 and 2013.
Globalization also drives industrial operations to address initiatives for
energy cost savings and reducing energy consumption. To offset energy costs and
meet stricter environmental requirements, most industries want to minimize
energy consumption, which benefits the medium voltage AC drives market.
This study identifies growth segments and market trends, as well as
challenges suppliers face to achieve growth. In addition to the quantitative
assessment, the study provides an insightful analysis of factors that will
impact this business in the future.
The challenge in the medium voltage AC drives market landscape is for
suppliers to differentiate themselves and offer an improved value propositions
to users and OEMs. This is especially important because the market is
competitive and demand is expected to grow. This study addresses key issues
- Which high growth industries are the most attractive for suppliers to
- What developing and emerging markets offer the highest growth potential
- Which special programs can help suppliers expand their market
- How certain offerings can help suppliers expand market penetration