As the global economy recovers in 2021 and the supply of the industrial chain improves, the medium voltage electric drives market will undergo major changes. The global medium voltage electric drives market is expected to grow at a CAGR of 3.9% during the forecast period (2022 - 2027). Growing purchaser pursuit in incorporating renewables, with stringent requirements and norms focusing on deploying power-green systems, will pressure medium voltage drives demand. Furthermore, speedy urbanization, industrialization in rising economies, and accelerated investments in dependable and smart infrastructure will push the medium voltage to drive the marketplace growth.
The global medium voltage electric drives industry report provides top-notch qualitative and quantitative information including: Market size (2017-2021 value and 2022 forecast). The report also contains descriptions of key players, including key financial indicators and market competitive pressure analysis.
The report also assesses key opportunities in the market and outlines the factors that are and will drive the growth of the industry. Taking into account previous growth patterns, growth drivers, and current and future trends, we also forecast the overall growth of the global medium voltage electric drives market during the next few years. The global medium voltage electric drives market size will reach USD million in 2028, growing at a CAGR of % during the analysis period.
The medium voltage electric drives market can be split based on product types, major applications, and important regions as follows:
Rockwell Automation Inc.
Honeywell International Inc
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Pulp & Paper