Germany Medium Voltage Motors & Drives Market is expected to reach 2,590 Million by 2026; experiencing a compound annual growth rate (CAGR) of 4% from 2019 to 2026. The performance of medium voltage motors & drives market is closely associated with its applications across Germany. Further, global economic conditions also reflect its impact on the market. Medium voltage motors & drives are designed for high performance and are appropriate for applications where high output motors are needed.
The medium voltage motors & drives market is witnessing significant growth due to the focus of the industries on energy efficiency thereby shifting from low voltage motors to medium voltage motors. Energy consumption is the major factor driving the growth of the medium voltage market in Germany as well as in the global market. The factors such as the rising focus on energy efficiency due to the high-power consumption, revival of CAPEX cycle in the energy sector, and robust growth of process industries such as steel, water, cement, and wastewater are the stimulating factors for the market growth globally. However, limited technical knowledge about connection and maintenance, need for several changes to install medium voltage motors on sites, and high exposure of market to industries related to fluctuating investment cycles are expected to slightly hamper the growth of the market during the forecast period.
The Germany medium voltage motors & drives market is segmented by type and application. By type, the market is further segmented into AC Motors and DC Motors and the sub-segments covered under application, segments are Process industries, Discrete industries, and HVAC.
The key players operating in the Germany medium voltage motors & drives market are Marathon Electric Motors (Regal Beloit), WEG, Mitshuibishi, Siemens, GE, TMEIC, MEIDENSHA, Nidec Motors, Teco, ABB, MENZEL Motors, HELMKE, VEM Group, and ATB Motors among others.
Base Year: 2019
Total Years Covered: 2019 - 2026
Forecast Years: 2020 - 2026
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The Highlights of the Report
Scope of the Germany Medium Voltage Motors & Drives Market