DUBLIN--(BUSINESS WIRE)--The "Medium Voltage Motors Market by End-users, Product, and Geography - Global Forecast and Analysis 2019-2023" report has been added to ResearchAndMarkets.com's offering
Rising focus on energy efficiency due to high power consumption of industrial motors
The market is witnessing a significant rise in focus on energy efficiency owing to the high-power consumption of industrial motors. Industrial motors consume more than 30% of the global electricity produced, which has encouraged industries to focus on replacing low voltage motors with medium voltage ones. Thus, the rising focus on energy efficiency will fuel the expansion of the medium voltage motors market at a CAGR of close to 4% during the forecast period.
This medium voltage motors market analysis considers the revenue generation based on products such as AC motors, and DC motors. The analysis also considers the sales of medium voltage motors in North America, Europe, APAC, MEA, and South America.
In 2018, the AC motors segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the operational benefits offered by medium voltage AC motors will play a significant role in the AC motors segment to maintain their market position.
Also, the market report looks at factors such as the revival of CAPEX cycle in the energy sector, rising focus on energy efficiency due to the high-power consumption of industrial motors, and robust growth of process industries such as cement, steel, water, and wastewater.
However, the need for several changes to install medium voltage motors on sites, limited technical knowledge about connection and maintenance, and high exposure of market to industries subject to fluctuating investment cycles may hamper the growth of the medium voltage motors industry over the forecast period.
Development of medium voltage drives and distribution systems
Industrial motors require components such as electric drives and switchgear to optimize their operations. These components facilitate optimal functioning in industrial motors. For instance, switchgear play an important role in regulating the flow of electricity, and electric drives manage the speed, torque, and direction of an electric motor. Thus, the availability of these components is expected to boost the production of medium voltage motors, which will impact the growth of the market during the forecast period.
With the presence of several major players, the global medium voltage motors market is moderately fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading medium voltage motors manufacturers that include: ABB, General Electric Co, TECO Electric & Machinery Co, Toshiba Corp, and WEG.
Also, the medium voltage motors market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Comparison by product
- AC motors - Market size and forecast 2018-2023
- DC motors - Market size and forecast 2018-2023
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: MARKET SEGMENTATION BY END-USER
- Comparison by end-user
- Process industries - Market size and forecast 2018-2023
- Discrete industries - Market size and forecast 2018-2023
- HVAC - Market size and forecast 2018-2023
- Market opportunity by end-user
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- APAC - Market size and forecast 2018-2023
- North America - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
PART 12: MARKET TRENDS
- Remote condition monitoring of industrial motors
- Development of medium voltage drives and distribution systems
- Declining cost of renewable energy power plants and ESS
PART 13: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- ABB Ltd.
- General Electric Co.
- TECO Electric & Machinery Co. Ltd.
- Toshiba Corp.
- WEG S.A.
For more information about this report visit https://www.researchandmarkets.com/r/hob7e9