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Low and Medium Voltage Drive Sales in Australia and New Zealand to total US$ 1137.1 Million by 2033 amid Rising Need for Energy-efficient Power Distribution | FMI

Future Market Insights Global and Consulting Pvt. Ltd.
Future Market Insights Global and Consulting Pvt. Ltd.

Anticipated surge in electronic household appliance sales fuels demand for low and medium-voltage drives. Vital infrastructure projects in transportation, water treatment, and construction drive robust growth.

NEWARK, Del, Dec. 06, 2023 (GLOBE NEWSWIRE) -- 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.

Get a Preview of Market Dynamics – Request Your Sample Report Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-18011

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.

The rapid urbanization in these nations has also increased the demand for HVAC systems in both commercial and domestic sectors. District heating systems in colder areas have also seen a rise in need. These systems, which use motorized fans and blowers for space heating and air circulation, provide comfort and contribute significantly to energy consumption. This creates opportunities for low-voltage drive manufacturers.

Household appliances are another vital application area for low-voltage drives. Electric motors are crucial in household appliances, ranging from small body care products to sizeable domestic care appliances. Sales of electronic household appliances is expected to witness robust growth, driving the demand for low-voltage drives.

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.

“The expanding end-use industries in Australia and New Zealand are expected to drive demand for low and medium voltage drives over the forecast period. Besides this, growing usage of custom-built products is expected to fuel growth, - opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

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.

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

Find More Valuable Insights:

The research report analyzes the demand for low and medium voltage drives in Australia and New Zealand. The report has been analyzed with the COVID-19 impact, various macroeconomic factors, key trends, and background statistics.

Future Market Insights (FMI) has analyzed the sales projections based on pump type, flow rate, end use, and region. The report provides qualitative and quantitative information on several players and their strategies. This report also tracks both supply-side and demand factors.

Purchase Your Premium Report for Unparalleled Analysis! https://www.futuremarketinsights.com/checkout/18011

Australia and New Zealand Low and Medium Voltage Drive Market Segmentation Analysis:

By Voltage Level:

  • Medium Voltage Drives

    • Low-medium Voltage (1 kV to 3 kV)

    • Medium-high voltage (3 kV to 6 kV)

    • High voltage (6 kV and above)

  • Low Voltage Drives

    • Up to 230V

    • 230V to 690V

    • 690V to 1 KV

By Power Rating:

  • Medium Voltage Drives

    • <1MW

    • 1 MW to 3 MW

    • 3 MW to 7 MW

    • >7 MW

  • Low Voltage Drives

    • Up to 750 W

    • 750 to 7500 W

    • 7500 to 75000 W

By Drive Type:

  • Medium Voltage Drives

    • Variable Frequency Drives (VFDs)

    • Servo Drives

    • Direct Torque Control (DTC) Drives

    • Vector Control Drives

    • Sensorless Control Drives

  • Low Voltage Drives

    • Variable Frequency Drives (VFDs)

    • Servo Drives

    • Direct Torque Control (DTC) Drives

    • Vector Control Drives

    • Sensorless Control Drives

By Current Type:

  • Medium Voltage Drives

    • AC

    • DC

  • Low Voltage Drives

    • AC

    • DC

By Sales Channel:

  • Direct End-User

  • Direct Machine Builder

  • Direct Systems Integrator

  • Distribution/Partner

By End Use Industry:

  • Medium Voltage Drives

    • Oil and Gas

    • Mining and Metals

    • Power Generation

    • Chemicals and Petrochemicals

    • Water and Wastewater

    • Marine and Offshore

    • Others

  • Low Voltage Drives

    • Building and Construction

    • Manufacturing

    • Food and Beverage

    • Transportation

    • Agriculture

    • Pharmaceuticals

    • Commercial Facilities

    • Others

By Region:

  • Australia

    • New South Wales (NSW)

    • Victoria (VIC)

    • Queensland (QLD)

    • Western Australia

    • South Australia

    • Tasmania

    • Northern Territory

  • New Zealand

About the Industrial Automation Division at Future Market Insights:

The industrial automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

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Future Market Insights Inc.
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