The fractional horsepower segment will dominate the Global Medium Voltage Electric Motors Market in the forecast period
Increased urbanization and rising power demand are
the major factors propelling the market growth in the future.
According to TechSci
Research report, “Global Medium Voltage Electric Motors Market - By Region,
Competition, Forecast & Opportunities, 2028”, The Global Medium Voltage
Electric Motors Market is expected to register a CAGR of 4.86% in the forecast
period. Global Medium Voltage Electric Motors Market driven by the Increasing
demand for energy-efficient motors and Growing demand for electric motors in
the industrial sector.
However, when utilized
in industrial applications, motors with high power ratings produce a
significant amount of heat, vibration, and strain, all of which have the
potential to have a significant impact on electronic components and result in
their failure. Additionally, it is anticipated that small and medium-sized
business owners will be in benefits of smart motors for a variety of
applications during the anticipated time.
The Saudi government is
extending the nation's power lattice to fulfill the developing need for power.
New applications for electric motors with a medium voltage are emerging as a
result of this expansion. For instance, medium voltage electric engines are
being utilized to drive new substations and transmission lines.
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Pages and an in-depth TOC on "Global Medium Voltage Electric Motors Market.”
The Global Medium
Voltage Electric Motors Market is divided into type, output power, end-user,
voltage, and region. Based on type, the market is divided into AC Motors and DC
Motors.
Based on output power, the market is segmented into Fractional
Horsepower, Integral Horsepower. Based on end-user, the market is segmented
into Industrial, Commercial, Residential, Transportation and Agriculture. Based
on voltage, the market is segmented into 1-3KV, 3-5KV,
5-6.6KV. Based on region, the market is segmented into Riyadh, Makkah,
Eastern Province and Rest of Saudi Arabia.
Based on Output Power,
the market is segmented into Integral Horsepower (IHP) Output and Fractional
Horsepower (FHP) Output. The fractional
horsepower segment is anticipated to dominate the market due to the growing demand
of electric motors with power ranges up to 1 horsepower in small businesses
like the paper and pulp industries, textile mills, warehouses, and other
applications. Major corporations will finish the majority of investments in the
integral horsepower (Above 1HP) market.
Based on Voltage Rating,
the market is segmented into Low Voltage 1-3KV, 3-5KV, 5-6.6KV. Vacuum
cleaners, coffee makers, refrigerators, washing machines, and other home
appliances are in high demand in both the residential and commercial sectors.
The up to 1 kV category now holds the majority of the market. The majority of
the 1 kV-6.6 kV section's investment will go toward the agricultural and
industrial sectors. Large motor capacities are typically required for
industrial and agricultural operations due to the equipment's high-power
requirements.
Furthermore, it is important to keep an adequate progression of
water or coolant to ensure that the whole modern arrangement and horticultural
exercises work well.
Based on End-User, the
market is segmented into Residencial, commercial, Industrial, and
transportation and Agriculture. As governments around the world focus on
developing supporting laws and regulations to raise awareness regarding the use
of electric cars in their respective nations, there has been an increase in the
demand for electric motors from the automotive industry in the transportation
sector. This trend, which is expected to continue for a few years, is driving
investments in the transportation sector.
Key market players in
the Global Medium Voltage Electric Motors Market include:
- ABB
- Siemens AG
- Rockwell Automation
- Ametek
- Toshiba
- General Electric
- NIDEC Corporation
- Alfanar Electrical Systems LLC
- Hitachi Middle East
- Johnson Electric
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The modern area is the
biggest customer of medium voltage electric engines in Saudi Arabia. The
government's economic diversification initiatives, which aim to lessen the country's
reliance on oil, are driving the expansion of the industrial sector. The demand
for electric motors with a medium voltage will rise as the industrial sector is
expected to continue expanding in the coming years.
“Saudi Arabia's
industrial development is one of the main drivers of the market for medium
voltage electric motors. Manufacturing, construction, and oil and gas are just
a few of the industries that have benefited from initiatives like Vision 2030.
These enterprises depend intensely on medium voltage electric engines for
fueling apparatus and hardware, driving the interest for these engines.
Moreover, government support as motivations, endowments, and great arrangements
further empowers the reception of energy-effective innovations, adding to the
market's development.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
Medium Voltage Electric
Motors Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, Segmented By Output Power (Diesel
generators, Gas generators, Solar generators, Others (such as wind turbines,
battery systems), By End-User (Standby power, Prime power, Peak shaving), By
End user (Residential, Commercial, Industrial, Others ), By Region, Competition
2018-2028”, has evaluated the
future growth potential of Global Medium Voltage Electric Motors Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Medium
Voltage Electric Motors Market.