According to a recent market study published by Growth Market Reports, titled, “Global Medium Voltage Motors Market, by Type, Efficiency, Pole, End-user, and Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 6,016.7 Million in 2022 and is anticipated to expand at a growth rate of 6.1% by the year 2031.

An electric motor is an electric machine that converts electrical energy into mechanical energy. Most electric motors work through the interaction of the motor magnetic field and electrical current in a wound wire to produce force in the manner of torque supplied on the motor shaft. In simple terms, electric motors are devices that use electric power to generate motive power. The voltage of medium voltage (MV) motors ranges from 1000 V to 13.8 kV or even higher.

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The medium voltage motors market has been fragmented on the basis of type, efficiency class, poles, and end-user. On the basis of type, the global medium voltage motors market is categorized as AC motors and DC motors. Based on efficiency, the market is categorized into IE 1, IE 2, IE 3, and IE 4. On the basis of pole, the market is segmented into 2 poles, 4 poles, 6 poles, and above 6 poles. On the basis of end-user, the market is fragmented into oil & gas, mining, chemical, pharmaceutical, wastewater, and others. Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Key factors that are anticipated to fuel the medium voltage motors market during the forecast period include increasing demand from end-use industries. Medium voltage motors are used where high output of power is required. Thus, many manufacturers are focussing on producing energy-efficient and sustainable motors. Medium voltage motors deliver high output, provide improved power quality, produce less electrical noise, and minimize power losses, which aids in reducing energy consumption, saving costs, and improving system reliability.

The Coronavirus disease 2019 (COVID-19) pandemic highlighted economic disparities, created global interdependence, and challenged various governments. Manufacturers of medium voltage motors faced high fluctuations in raw material supply during the pandemic. Manufacturing units were shut down during the pandemic, which restrained the market. This decreased the demand for various raw materials used to manufacture medium voltage motors. Furthermore, supply chain disruption led to delays in the production and delivery of medium voltage motors, thus affecting the overall market.

As per growth market reports industry analyst, Partha Paul, the “medium voltage motors” are an essential component of any vacuum system. Medium voltage motors are used in many industrial applications among others. The demand for energy-efficient medium voltage motors is expected to increase with the growing technological advancements. Furthermore, the adoption of Internet of Things (IoT) allow real-time monitoring of various operating parameters, such as temperature, vibration, current, and speed, thereby improving the performance, reliability, and efficiency of medium voltage motors.

The market in Asia Pacific is expected to expand at a significant CAGR during the forecast period. The wide presence of oil and gas, mining, chemical, and wastewater industries in China, India, and Japan are contributing to the market expansion in the region. Furthermore, increasing investments in pharmaceuticals and chemical industries are fueling the market in this region.

A supply chain is a network between a manufacturer and suppliers to produce and distribute a specific product to the final buyers. This network includes different people, regulatory bodies, entities, information, and resources. Various components are used to manufacture medium voltage motors. These components are procured from raw material suppliers and stored at warehouses or manufacturing sites. Raw materials are inspected to ensure their quality. Quality checks are performed throughout the production process by manufacturers to ensure the quality of the product. The finished products are then supplied to the distributors. Distributors store finished products in large inventories and are mediators in the supply chain. They directly obtain the products from the manufacturers and pass them midstream. End-users of medium voltage motors include food and beverages, semiconductors, power and energy generation, and oil and gas industries.

Key Takeaways from the Study:

  • The players in the medium voltage motors market include Toshiba International Corporation, TECO-Westinghouse, Regal Rexnord Corporation, Hoyer Motors, WEG, Siemens, NIDEC CORPORATION, Gamak Makina Sanayi A.Ş., MENZEL Elektromotoren GmbH, Hitachi, General Electric, and, ABB, which held a significant market share in the year 2022.

  • Based on type, the medium voltage motors market is bifurcated into AC motors and DC motors. The AC motors segment is expected to hold a significant market share in 2031. AC motors are powered by single or three-phase alternating currents. The electromagnetic field in the stator reacts with the rotor and causes the motor to rotate at a synchronous speed to match the frequency of the AC current. AC motors are efficient, durable, and flexible, which makes them suitable for power generation applications.

  • Based on efficiency, the market is divided into, IE 1, IE 2, IE 3, and IE 4. The IE1 motors lie in the standard efficiency range. The IE2 motors lie in the high-efficiency range. The IE3 motors lie in the premium efficiency range, and the IE4 motors lie in the super-premium efficiency range. The efficiency range of each motor shows that the efficiency of the next series is better than the previous series. The IE 4 segment is expected to register a considerable CAGR during the forecast period. This efficiency class of motors are highly advanced and environmentally-friendly.

  • On the basis of pole, the medium voltage motors market is fragmented into 2 poles, 4 poles, 6 poles, and above 6 poles. The pole count of a motor is the number of permanent magnetic poles and north and south poles on the rotor. The 2 poles segment held a significant share of the market in 2022. A motor that contains two poles (or a single pair of magnetic poles north and south) is known as 2 pole motor. Stator windings are the north and south poles. The number of stator windings gives any reasonable number of poles ranging from 2 to 12.

  • On the basis of end-user, the market is categorized into into oil & gas, mining, chemical, pharmaceutical, wastewater, and others. Medium voltage motors are widely used in the oil and gas industry. These motors offer consistent and reliable power to support systems and equipment used for extraction, processing, transportation, and storage of various gas products, including petroleum, natural gas, and crude oil. These motors are necessary for powering draw works, separating cuttings, and pumping fluids. In wastewater management industry, the medium voltage motors help to maintain water quality, facilitate efficient water and wastewater management, and ensure the proper functioning of water treatment and distribution systems.

  • In terms of regions, the global medium voltage motors market is divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to expand at a CAGR of 6.6% during the forecast period, due to the high demand for medium voltage motors from various industries, such as cement, mining, chemical, and pharmaceutical, among others. Emerging economies, such as India, are focusing on industrialization and investing heavily in such industries. North America held a significant market share in 2022, due to the increasing demand for medium voltage motors from the water and wastewater management industry. The market in Latin America and the Middle East & Africa is anticipated to expand during the forecast period, due to the increasing demand for such motors from the oil and gas industry.

Report Scope:

Report Metric

Details

Market Value in 2022

USD 6,016.7 Million

Market Growth Rate (from 2023 to 2031)

 6.1%

Historical Data

2016 - 2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (US$ Million)

Market Segments

Type, Efficiency, Pole, and End-user

Key Companies Profiled

Toshiba International Corporation, TECO-Westinghouse,  Regal Rexnord Corporation, Hoyer Motors, WEG, Siemens, NIDEC CORPORATION, Gamak Makina Sanayi A.Ş., MENZEL Elektromotoren GmbH, Hitachi, General Electric, and, ABB

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Manufacturer and distributors.

  • Demand Side: Manufacturers of Oil and Gas, Chemical, Wastewater, Pharmaceutical, among others

  • Regulatory Side: Concerned government authorities, and other approval regulatory bodies.

  • Associations and Industry Bodies: CISA, EPA, REACH, ECHA.