What are the key factors driving the growth of this market report?

Revival of CAPEX cycle in energy sectorThe global demand for energy is increasing steadily due to improvements in global economic growth. According to the International Energy Agency (IEA) is the driving factor this market. global energy demand grew by 2.2% in 2024 is the driving factor this market. nearly double the average annual growth rate of the previous decade. This increase was largely driven by a 4.3% surge in global electricity consumption is the driving factor this market. influenced by extreme weather conditions and the rapid growth of energy-intensive sectors such as data centers and artificial intelligence. Fossil fuels continued to dominate energy use is the driving factor this market. with natural gas demand rising by 2.7% and coal consumption increasing by 1% is the driving factor this market. particularly due to heatwaves in Asia. Oil demand grew more modestly by 0.8% is the driving factor this market. as the shift toward electric vehicles began to impact road transport fuel use. Notably is the driving factor this market. oil share of total energy demand fell below 30% for the first time. According to the US Energy Information Administration (EIA) is the driving factor this market. global liquid fuels consumption reached a record high of over 102 million barrels per day in 2024 is the driving factor this market. up from 100.08 million barrels per day in 2018. Hence is the driving factor this market. the need for exploration and production in new oil and gas reservoirs is increasing as existing oil and gas reservoirs have started to mature or deplete. Therefore is the driving factor this market. new oil wells are being drilled across the world. In the previous decade is the driving factor this market. the global consumption of natural gas increased significantly due to the high adoption of natural gas as a fuel. The consumption of natural gas by developing economies is the driving factor this market. such as China and India is the driving factor this market. is also increasing. Hence is the driving factor this market. the demand for natural gas is expected to grow significantly during the forecast period. Several natural gas pipeline projects are being constructed in the US and Europe. Natural gas pipelines require medium voltage motors at compressor stations at regular intervals to step up pipeline pressure. According to the IEA is the driving factor this market. the demand for oil will continue to grow until 2040 is the driving factor this market. and the use of natural gas will rise by 45% by 2040 is the driving factor this market. with high scope to expand in the power sector. The rising demand for oil and natural gas will increase the number of E and P activities in the oil and gas sector. Though the cost of producing oil and gas in offshore locations is high is the driving factor this market. the productivity of offshore wells is better than onshore wells. Hence is the driving factor this market. the rise in demand for oil and gas will increase drilling activities is the driving factor this market. which will raise the demand for medium voltage motors for offshore marine vessels is the driving factor this market. compressors is the driving factor this market. and pumps. Therefore is the driving factor this market. such factors will drive the growth of the global medium voltage motors market during the forecast period. is the driving factor this market.

Medium Voltage Motors Market Analysis, Size, and Forecast 2025-2029:
North America (US and Canada), Europe (France, Germany, and UK), APAC (Australia, China, India, Japan, and South Korea), and Rest of World (ROW)

Published: Jun 2025 229 Pages SKU: IRTNTR44630

Market Overview at a Glance

$1.45 B

Market Opportunity

4.6%

CAGR

4.4

YoY growth 2024-2025(%)

Medium Voltage Motors Market Size 2025-2029

The medium voltage motors market size is forecast to increase by USD 1.45 billion, at a CAGR of 4.6% between 2024 and 2029.

The market is experiencing significant growth, driven by the revival of capital expenditure cycles and particularly in the renewable energy sector. This trend is particularly noticeable as energy companies invest in modernizing their infrastructure and increasing efficiency. Another key driver is the declining cost of renewable energy and energy storage systems (ESS), which is leading to a rise in demand for medium voltage motors in renewable energy applications. However, the market also faces challenges, including the need for customized solutions when installing medium voltage motors due to the varying power requirements and grid conditions.
Additionally, the increasing adoption of variable speed drives and energy-efficient motors is putting pressure on manufacturers to innovate and differentiate their offerings. Companies seeking to capitalize on market opportunities must focus on delivering customized solutions, improving energy efficiency, and integrating advanced control systems to meet the evolving needs of energy companies and renewable energy operators. Regulations restricting the use of sulfur hexafluoride (SF6) gas emissions due to its high global warming potential are compelling switchgear manufacturers to explore alternative insulating gases or insulation-free solutions.

What will be the Size of the Medium Voltage Motors Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market encompasses various aspects of motor technology and engineering, including motor optimization, electrical and control engineering, motor protection systems, and power electronics. Motor design, motor sizing, and motor efficiency improvement are key areas of focus for manufacturers and end-users. Motor testing, motor diagnostics, and motor innovation are essential for ensuring motor performance and reliability in industrial applications. Rotating machinery, a significant component of industrial automation, relies on advanced motor control systems and energy management for optimal operation. Mechanical engineering and reliability engineering play crucial roles in motor repair and maintenance engineering.
Motor drives and motor protection systems are integral to industrial safety and power systems, while control engineering and motor control are vital for managing motor functions effectively. Overall, the market is dynamic, with continuous advancements in motor technology driving innovation and improving motor efficiency. Switchgear solutions are being developed to enhance safety and compliance with stringent industry standards.

How is this Medium Voltage Motors Industry segmented?

The medium voltage motors industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user
- Process industries
- Discrete industries
- HVAC
Product
- AC motors
- DC motors
Application
- Pumps
- Fans
- Compressors
- Conveyors
- Others
Geography
- North America
  - US
  - Canada
- Europe
  - France
  - Germany
  - UK
- APAC
  - Australia
  - China
  - India
  - Japan
  - South Korea
- Rest of World (ROW)

By End-user Insights

The process industries segment is estimated to witness significant growth during the forecast period. Medium voltage motors find extensive applications in various industries such as oil and gas, Power Generation, chemicals and petrochemicals, Iron and Steel, cement, pulp and paper, and water and wastewater treatment. These industries are undergoing significant transitions to enhance energy efficiency, reduce emission intensity, and diversify their product offerings. For instance, the oil and gas sector is moving from traditional gasoline and diesel production to refinery and petrochemical plants, which utilize medium voltage motors in various processes. Petrochemicals derived from these plants are integral to consumer goods, fertilizers, construction materials, and automobiles. Similarly, the power generation sector is shifting from coal-dominated thermal power to natural gas-fired plants, driven by the decline in natural gas costs, wide availability, and environmental concerns.

Medium voltage motors are essential components in these power plants, contributing to improved efficiency and reliability. In the process industries, medium voltage motors are used in pumping systems, conveyor systems, and fan systems, among others, to ensure smooth operations. Energy efficiency is a critical concern in these industries, leading to the adoption of energy audit and condition monitoring systems. Medium voltage motors with high efficiency classes and power factor correction capabilities are preferred to minimize energy wastage. Additionally, motor protection relays, ground fault protection, and thermal overload protection are essential safety features. The market for medium voltage motors is diverse, with various enclosure types, cooling methods, and frame sizes catering to different applications.

Asynchronous and synchronous motors, including squirrel cage and wound rotor types, are commonly used due to their robustness and reliability. Remote monitoring and control systems enable real-time performance analysis and predictive maintenance. In the oil and gas sector, medium voltage motors are employed in compressor systems and water treatment facilities. In the power generation sector, they are used in HVAC systems and various process control applications. The adoption of IEC standards and NEMA ratings ensures interoperability and compatibility across different applications and industries. The market is dynamic, driven by the evolving needs of various industries. The transition towards cleaner and more efficient energy sources, the increasing focus on energy efficiency, and the adoption of advanced technologies are key trends shaping the market.

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The Process industries segment was valued at USD 2.92 billion in 2019 and showed a gradual increase during the forecast period.

The Medium Voltage Motors Market is growing due to increasing industrial demand for efficient power solutions. Asynchronous motors dominate the sector, valued for their reliability and performance. The widespread use of squirrel cage motors enhances operational stability with minimal maintenance. Compliance with NEMA rating and IEC standard ensures global compatibility and safety. Advanced rotor winding designs improve efficiency, while specifications like shaft diameter and frame size influence motor selection for various applications. Mounting configurations, including foot mounted and flange mounted designs, offer versatility in installations. GIS is increasingly adopted in sectors such as power generation, distribution networks, oil & gas, renewable energy, commercial buildings, and data centers due to its high reliability, low maintenance, and space-saving design.

Regional Analysis

APAC is estimated to contribute 49% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Medium voltage motors are in high demand in Asia Pacific (APAC), where over half the world's population resides. Countries like China, India, Indonesia, and Bangladesh, with large and growing populations, are driving industrial growth. Smaller nations, such as Vietnam and Thailand, are also emerging as manufacturing hubs. In APAC, the demand for medium voltage motors in industries like power generation, water treatment, and material handling is increasing. These motors are used extensively in systems such as pumping and conveyor systems, which are essential for coal handling and power plant operations. As new thermal power plants are being constructed in countries like India, Bangladesh, Pakistan, and Vietnam, the demand for medium voltage motors is projected to rise further.

Efficiency and performance are key considerations in the medium voltage motor market. Enclosure types, power factor correction, and efficiency classes are crucial factors. Medium voltage motors are used in various applications, including fan systems, compressor systems, and HVAC systems. Cooling methods and frame sizes are important considerations for these applications. Safety features, such as ground fault protection, thermal overload protection, and motor protection relays, are essential. Speed control, soft starters, and frequency converters are used to optimize motor performance and energy efficiency. Asynchronous and synchronous motors, with their unique advantages, cater to different applications. Permanent magnet motors and wound rotor motors are popular choices due to their high efficiency and power density.

IEC standards and NEMA ratings ensure compatibility and interoperability. Remote monitoring and condition monitoring technologies enable predictive maintenance and improved motor performance. Energy efficiency standards, such as NEMA MG 1, are driving the market towards more efficient and sustainable solutions. The medium voltage motor market is dynamic, with ongoing advancements in technology and evolving industry requirements. Additionally, medium voltage motors are designed with IP ratings to ensure protection against various environmental conditions. The stator winding of medium voltage motors is an essential factor in their performance. Permanent magnet motors are gaining popularity due to their high efficiency and compact design. Overall, the medium voltage motor market is expected to grow significantly due to the increasing demand for energy-efficient and reliable motor solutions.

Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the Medium Voltage Motors market drivers leading to the rise in the adoption of Industry?

The revival of capital expenditures (CAPEX) in the energy sector is a significant market driver. This trend is crucial for the industry's growth and development, as increased investments in new projects and infrastructure upgrades are essential for meeting energy demand and advancing technological innovation. The global energy market is experiencing significant growth due to the improving global economy and increasing energy consumption, particularly in the electricity sector. According to the International Energy Agency (IEA), global energy demand grew by 2.2% in 2024, driven mainly by a 4.3% increase in global electricity consumption. This growth was influenced by various factors, including extreme weather conditions and the expansion of energy-intensive sectors such as data centers and artificial intelligence. Fossil fuels continued to dominate energy use, with natural gas demand rising by 2.7% and coal consumption increasing by 1%. The electricity sector is a major consumer of energy, and its growth is driven by various applications, including pumping systems and conveyor systems.

Medium voltage motors play a crucial role in these applications due to their high efficiency and power factor correction capabilities. Medium voltage motors come in various enclosure types, including open, air-insulated, and sealed types. They are also available in different efficiency classes, such as IE1, IE2, IE3, IE4, and IE5. These motors are used in various industries, including oil and gas, water and wastewater treatment, and mining, among others. To improve efficiency and reduce energy consumption, medium voltage motors are often equipped with features such as speed control, soft starters, and frequency converters. These technologies enable better motor performance and help reduce energy waste.

What are the Medium Voltage Motors market trends shaping the Industry?

The cost decline of renewable energy and Energy Storage Systems (ESS) is a significant market trend. Renewable energy sources, such as solar and wind, are becoming increasingly cost-competitive with traditional energy sources, while ESS technologies, like batteries, are becoming more affordable and efficient. The global market for Medium Voltage Motors (MVM) is witnessing significant growth due to the increasing demand for energy efficiency and reliability in various industries. Energy audits and condition monitoring are key factors driving the market, as businesses seek to optimize energy usage and prevent motor failures. MVMs, which include asynchronous and synchronous motors, are essential components in power generation, water treatment, and other applications.

Multilateral financial institutions have largely stopped financing coal-fired power plants, further reducing the demand for MVMs in this sector. Despite this, developing countries continue to invest in coal power plants, maintaining a diverse energy mix. Overall, the market for MVMs is expected to grow steadily, driven by the need for energy efficiency, reliability, and the increasing adoption of renewable energy sources. IEC standards ensure interoperability and safety in the use of MVMs. Advanced features such as phase loss protection, ground fault protection, and rotating magnetic field technology enhance motor performance and longevity. Renewable energy sources, such as solar and wind, are gaining popularity, leading to a shift from traditional power generation.

How does Medium Voltage Motors market face challenges during its growth?

The installation of medium voltage motors presents a significant challenge that necessitates careful attention, thereby impacting the growth of the industry. This requirement for modifications during installation is a critical consideration that industry professionals must address to ensure efficient and effective motor operation. Medium voltage motors are gaining popularity due to their energy-efficient performance in various industries, including material handling, process control, compressor systems, and fan systems. These motors offer higher power output with lower thermal losses compared to their low-voltage counterparts, making them an attractive option for businesses. However, their complex build and construction result in higher costs.

Medium voltage motors are widely used in oil & gas and other industries that require high power output and efficient energy consumption. Their ability to handle heavy loads and operate in harsh environments makes them a reliable choice for these applications. Despite their higher initial investment, the long-term energy savings and improved performance justify the investment for many businesses. Key features of medium voltage motors include motor protection relays for enhanced safety and torque control for precise operation. Cooling methods such as fan systems and oil cooling are utilized to maintain optimal operating temperatures. These motors conform to industry standards, such as NEMA MG 1, and come in various frame sizes to accommodate diverse applications.

Exclusive Customer Landscape

The medium voltage motors market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the medium voltage motors market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, medium voltage motors market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

ABB Ltd. - The company specializes in medium voltage motors, featuring advanced Motor Control Centers (MCC) and MV Drives, including the ABB ACS580MV and ABB ACS5000 models.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

ABB Ltd.
AC Motoren GmbH
Bharat Bijlee Ltd
Eaton Corp. plc
General Electric Co.
HOYER GmbH
Meidensha Corp.
Menzel Elektromotoren GmbH
Nidec Corp.
O.M.E. Motori Elettrici Srl
Parsons Peebles Ltd.
Regal Beloit Corp.
Ruselprom Trade Ltd.
SEVA tec GmbH
Siemens AG
TECO Electric and Machinery Co. Ltd.
Toshiba Corp.
VYBO Electric AS
WEG S.A
Wolong Electric Group Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Medium Voltage Motors Market

In February 2024, Siemens Energy announced the launch of its new medium voltage (MV) motor series, the Siemens Sivacon S-drive M, designed for high-performance and energy efficiency in renewable energy applications (Siemens Energy press release, 2024). This innovative motor series is expected to significantly contribute to the growth of the MV motors market in the renewable energy sector.
In July 2024, ABB and Schneider Electric, two major players in the power and automation industries, entered into a strategic partnership to expand their collaboration in the MV motors market. The partnership aims to offer integrated electrification solutions to customers, combining ABB's expertise in MV motors with Schneider Electric's digital solutions (ABB press release, 2024).

Research Analyst Overview

The market continues to evolve, driven by advancements in technology and the diverse applications across various sectors. Motor protection relays, a crucial component, ensure optimal performance and longevity by monitoring and safeguarding against potential faults. Torque control systems enable precise adjustment, enhancing efficiency in pumping and conveyor systems. Frame sizes and cooling methods vary, catering to the unique requirements of HVAC systems, compressor systems, and power generation applications. NEMA MG 1 standards provide a unified approach to motor design and application, while NEMA ratings ensure compatibility with specific environmental conditions. Material handling and process control applications demand high efficiency and reliability.

Energy audit and condition monitoring systems optimize motor performance, reducing energy consumption and minimizing downtime. Oil & gas industries rely on medium voltage motors for their robustness and ability to operate in harsh environments. Innovations in enclosure types, power factor correction, efficiency class, and IP rating continue to shape the market landscape. Fan systems, ground fault protection, and thermal overload protection are essential features ensuring optimal motor performance and longevity. The integration of soft starters, frequency converters, and remote monitoring systems further enhances motor control and efficiency. Asynchronous and synchronous motors, including squirrel cage and wound rotor designs, cater to various power generation and industrial applications. Notably, vacuum circuit breakers, circuit breakers, load management systems, short circuit protection, and ground fault protection are essential elements in power distribution networks.

IEC standards and voltage regulation ensure interoperability and safety, while magnetic field and overcurrent protection safeguard against potential hazards. The ongoing dynamism of the market underscores its significance in powering diverse industries and applications. The Medium Voltage Motors Market is expanding with advancements in electric motors, ensuring high efficiency for industrial applications. The demand for motor rewinding services is rising as businesses prioritize cost-effective maintenance over replacement. Enhanced motor reliability is a key focus, driving innovations that improve longevity and performance. Integration with electric power systems supports optimal energy utilization, contributing to sustainable operations. The role of electrical engineering remains crucial in designing and optimizing motor systems for diverse industries.

Dive into Technavio's strong research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Medium Voltage Motors Market insights. See full methodology.

Market Scope
Report Coverage	Details
Page number	229
Base year	2024
Historic period	2019-2023
Forecast period	2025-2029
Growth momentum & CAGR	Accelerate at a CAGR of 4.6%
Market growth 2025-2029	USD 1.45 billion
Market structure	Fragmented
YoY growth 2024-2025(%)	4.4
Key countries	US, China, Japan, Germany, India, Canada, South Korea, UK, Australia, and France
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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What are the Key Data Covered in this Medium Voltage Motors Market Research and Growth Report?

CAGR of the Medium Voltage Motors industry during the forecast period
Detailed information on factors that will drive the growth and forecasting between 2025 and 2029
Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
Accurate predictions about upcoming growth and trends and changes in consumer behaviour
Growth of the market across APAC, North America, Europe, Middle East and Africa, and South America
Thorough analysis of the market's competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the medium voltage motors market growth of industry companies

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Table of Contents not available.

Research Methodology

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Frequently Asked Questions

Medium Voltage Motors market growth will increase by $ 1449.3 mn during 2025-2029.

The Medium Voltage Motors market is expected to grow at a CAGR of 4.6% during 2025-2029.

Medium Voltage Motors market is segmented by End-user( Process industries, Discrete industries, HVAC) Product( AC motors, DC motors, hvac) Application( Pumps, Fans, Compressors, Conveyors, Others)

ABB Ltd., AC Motoren GmbH, Bharat Bijlee Ltd, Eaton Corp. plc, General Electric Co., HOYER GmbH, Meidensha Corp., Menzel Elektromotoren GmbH, Nidec Corp., O.M.E. Motori Elettrici Srl, Parsons Peebles Ltd., Regal Beloit Corp., Ruselprom Trade Ltd., SEVA tec GmbH, Siemens AG, TECO Electric and Machinery Co. Ltd., Toshiba Corp., VYBO Electric AS, WEG S.A, Wolong Electric Group Co. Ltd. are a few of the key vendors in the Medium Voltage Motors market.

APAC will register the highest growth rate of 49% among the other regions. Therefore, the Medium Voltage Motors market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.

US, China, Japan, Germany, India, Canada, South Korea, UK, Australia, France

Revival of CAPEX cycle in energy sectorThe global demand for energy is increasing steadily due to improvements in global economic growth. According to the International Energy Agency (IEA) is the driving factor this market.
global energy demand grew by 2.2% in 2024 is the driving factor this market.
nearly double the average annual growth rate of the previous decade. This increase was largely driven by a 4.3% surge in global electricity consumption is the driving factor this market.
influenced by extreme weather conditions and the rapid growth of energy-intensive sectors such as data centers and artificial intelligence. Fossil fuels continued to dominate energy use is the driving factor this market.
with natural gas demand rising by 2.7% and coal consumption increasing by 1% is the driving factor this market.
particularly due to heatwaves in Asia. Oil demand grew more modestly by 0.8% is the driving factor this market.
as the shift toward electric vehicles began to impact road transport fuel use. Notably is the driving factor this market.
oil share of total energy demand fell below 30% for the first time. According to the US Energy Information Administration (EIA) is the driving factor this market.
global liquid fuels consumption reached a record high of over 102 million barrels per day in 2024 is the driving factor this market.
up from 100.08 million barrels per day in 2018. Hence is the driving factor this market.
the need for exploration and production in new oil and gas reservoirs is increasing as existing oil and gas reservoirs have started to mature or deplete. Therefore is the driving factor this market.
new oil wells are being drilled across the world. In the previous decade is the driving factor this market.
the global consumption of natural gas increased significantly due to the high adoption of natural gas as a fuel. The consumption of natural gas by developing economies is the driving factor this market.
such as China and India is the driving factor this market.
is also increasing. Hence is the driving factor this market.
the demand for natural gas is expected to grow significantly during the forecast period. Several natural gas pipeline projects are being constructed in the US and Europe. Natural gas pipelines require medium voltage motors at compressor stations at regular intervals to step up pipeline pressure. According to the IEA is the driving factor this market.
the demand for oil will continue to grow until 2040 is the driving factor this market.
and the use of natural gas will rise by 45% by 2040 is the driving factor this market.
with high scope to expand in the power sector. The rising demand for oil and natural gas will increase the number of E and P activities in the oil and gas sector. Though the cost of producing oil and gas in offshore locations is high is the driving factor this market.
the productivity of offshore wells is better than onshore wells. Hence is the driving factor this market.
the rise in demand for oil and gas will increase drilling activities is the driving factor this market.
which will raise the demand for medium voltage motors for offshore marine vessels is the driving factor this market.
compressors is the driving factor this market.
and pumps. Therefore is the driving factor this market.
such factors will drive the growth of the global medium voltage motors market during the forecast period. is the driving factor this market.

The Medium Voltage Motors market vendors should focus on grabbing business opportunities from the Process industries segment as it accounted for the largest market share in the base year.

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Medium Voltage Motors Market Analysis, Size, and Forecast 2025-2029:North America (US and Canada), Europe (France, Germany, and UK), APAC (Australia, China, India, Japan, and South Korea), and Rest of World (ROW)