ARC Advisory Group’s recent research reveals that medium voltage AC drives are emerging as a critical technology in the transition of the chemical, refining, and oil & gas industries toward sustainable electrification. By replacing traditional turbine-driven systems, these drives offer significant advantages. They provide precise control over rotating equipment, enhancing efficiency, reliability, and reducing maintenance costs. Additionally, by eliminating the need for high-carbon fuels, medium voltage AC drives contribute to reduced greenhouse gas emissions, making them a cornerstone of these industries‘ decarbonization efforts. This shift not only enhances operational reliability but also significantly contributes to carbon reduction efforts by optimizing energy consumption and achieving sustainable electrification.
"Global carbon taxes are driving energy companies to electrify their operations to reduce emissions. Replacing steam or gas turbines with electric drive technology in oil, gas, refinery, and chemical plants is a direct path to eliminating high-carbon fuel consumption, both in new and existing facilities. Many chemical and refinery plants have replaced turbines with electric drive technology for rotating equipment," according to Anju Ajaykumar, Senior Analyst and key author of ARC's AC Drives Medium Voltage Market Research.
Medium Voltage AC Drives Market Trends
In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:
- Decarbonization
- Remote Monitoring Services
- Connected Machines and Digitalization
- Environmental, Social, and Governance Practices
- Energy Transition
Leading Suppliers to the Medium Voltage AC Drives Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: ABB, Innomotics, Rockwell Automation, Schneider Electric, TMEIC.
About the Medium Voltage AC Drives Research
The Medium Voltage AC Drives research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, five-year market forecasts, and three years of historical analysis. The research segmentation includes Machinery by Segment, Industry, Customer Type, World Region, Sales Channel, Revenue Category, Drive Size, Hardware by Component, Cooling Method, Motor Voltage, Overall Scope.
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