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Energy Efficiency and IoT Integration Fuel Growth in the Global Medium Voltage Motors MarketDUBLIN, Oct. 17, 2023 /PRNewswire/ -- The "Medium Voltage Motors Market by Product, End User, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering. The global medium voltage motors market has shown remarkable growth, reaching US$ 5.19 billion in 2022, and is poised to surge further, projected to hit US$ 8.52 billion by 2028. This impressive growth is attributed to the rising demand for energy-efficient motors, widespread utilization in heating, ventilation, and air conditioning (HVAC) systems, and the integration of Internet of Things (IoT) technology. Medium voltage motors are electrical machines designed for medium voltage power supplies and are built with robust materials, including copper, stainless steel, and ceramics. These high-performance motors find applications in various industries such as pumps, fans, compressors, generators, and more. They are known for their reliability, durability, energy efficiency, and ability to withstand extreme conditions. Key Market Trends:
The global medium voltage motors market is analyzed based on product and end-user segments. Product Insights:
AC-motors represent the largest segment in the market. End User Insights:
Process industries hold the largest market share. Regional Insights: The major regional markets covered in the report include North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Asia-Pacific is the largest market for medium voltage motors, driven by industrialization, favorable government policies, and technological advancements. Competitive Landscape: The report offers a comprehensive analysis of the competitive landscape, including market structure, market share, player positioning, winning strategies, competitive dashboard, and company profiles. Key players in the market include Nidec Corporation, Regal Rexnord Corporation, Rockwell Automation Inc., SEVA-tec GmbH, Toshiba Corporation, WEG S.A., Wolong Electric Group Co. Ltd., among others. Key Questions Answered:
For more information about this report visit https://www.researchandmarkets.com/r/4w2mdd About ResearchAndMarkets.com Media Contact: Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/energy-efficiency-and-iot-integration-fuel-growth-in-the-global-medium-voltage-motors-market-301959410.html SOURCE Research and Markets |