According to a Future Market Insights (FMI) report, the sales of low and medium voltage drives in Australia and New Zealand are valued at over US$ 745.0 Million in 2023, with a stable long-term projection. A new report estimates that the demand is expected to rise at a CAGR of 4.9% from 2023 to 2033. This would take the total revenue to US$ 1137.1 Million by 2033.
There is a growing recognition of the need to reduce carbon emissions and a rising demand for energy-efficient technologies, leading to an increased demand for low and medium-voltage drives. Advancements in control algorithms, power electronics, and semiconductors have made it possible to produce more energy-efficient drives that are now more affordable and widely adopted.
The increasing adoption of renewable energy sources like wind and solar power has also driven the demand for energy-efficient voltage drives. These energy sources require a more efficient and flexible power grid, and energy-efficient drives can help regulate power flow and ensure effective distribution. As a result, demand for energy-efficient drives is expected to grow significantly.
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Another notable trend prevailing in Australia and New Zealand is the demand for advanced control and monitoring features in drives. Integrating cutting-edge sensors, communication protocols, and control algorithms has enabled movements to monitor and control several parameters in real time, improving efficiency, reliability, and safety in applications such as pumps, fans, and compressors.
Safety is a crucial concern in industrial and commercial settings, pushing the demand for drives with built-in safety features. These features, including emergency stop buttons, safety interlocks, and overload protection, play a vital role in preventing accidents, protecting equipment and personnel, and ensuring compliance with safety regulations.
Overall, sales of low and medium-voltage drives in Australia and New Zealand are influenced by the need for energy efficiency, advancements in control technology, safety requirements, and the demand from various industries and applications.
Key Takeaways from Australia and New Zealand Low and Medium Voltage Drive Industry Analysis:
- Sales in Australia and New Zealand are expected to rise at a CAGR of 4.9% through 2033.
- By end-use industry, the medium voltage drives (power generation) segment is projected to account for a prominent share of 33.6% in 2023.
- By power rating, the medium voltage drives (1 MW to 3 MW) segment is observed to account for a prominent share of 52.5% in 2023.
Competition Landscape:
The low and medium voltage drive landscape in Australia and New Zealand is moderately consolidated, with a few global players acquiring around 40% to 45% of the shares. These players are likely to invest in new technology developments and expand their distribution networks to maintain their presence. Key manufacturers of low and medium voltage drives include Siemens AG, ABB, Danfoss, and Schneider Electric, among others.
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For instance,
- In December 2021, Mitsubishi Electric Corporation announced it received the 2021 Research and Development 100 Award from the USA Research and Development World publication.
- In March 2021, Rockwell Automation improved the performance of the PowerFlex 6000T medium voltage drive. Industrial businesses can benefit from improvements to the Allen-Bradley Power Flex 6000T medium voltage drive.
- In August 2021, ABB expanded low-voltage motor production capacity at the Faridabad plant powered by renewable energy.
- In April 2021, Schneider Electric reinforced its medium voltage product portfolio with the addition of the Altivar Process ATV6000.
Key Players Operating in the Australia and New Zealand Low and Medium Voltage Drive Industry:
- Siemens AG
- Delta Power Electronics
- Fuji Electric Global
- ABB
- Yaskawa
- Rockwell Automation
- Eaton
- Nidec
- TMEIC
- TECO
- Schneider Electric
- Amtech
- GE Power Conversion
- Benwshaw Applied Motor Controls
- Maschinenfabrik Reinhausen GmbH
