The Europe medium-voltage electric drives market is expected to witness a Compound Annual Growth Rate (CAGR) of 2.7% from 2024 to 2029, ultimately reaching a value of USD 707.5 million by the end of 2029.

This market is segmented based on product type into two categories: Medium-voltage AC drives and Medium-voltage DC drives. Among these segments, the medium-voltage AC drives segment dominated the market in 2023 and is projected to reach a valuation of USD 688.9 million by 2029. Moreover, it is anticipated to exhibit the highest CAGR of 2.9% during the forecast period from 2024 to 2029.

The Europe medium-voltage electric drives market finds applications across various sectors, including oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R, paper, discrete manufacturing, and others. The discrete manufacturing segment is expected to grow at a CAGR of 3.1% throughout the forecast period, reaching USD 100.9 million by 2029. Additionally, the revenue of the food & beverages segment is projected to increase at a CAGR of 3.3%, reaching USD 85.1 million by 2029.

In 2023, the top three countries leading the Europe medium-voltage electric drives market are Germany, Italy, and Russia, collectively holding approximately 40% market share.

Prominent players in the Europe medium-voltage electric drives market include Siemens AG, ABB, Ltd., Danfoss A/S, Schneider Electric SE, Rockwell Automation, Inc., Nidec Corporation, Yaskawa Electric Corporation, and Toshiba Corporation. According to Tanalyze Ltd.’s report, these top eight companies collectively held around 80% market share in 2022, highlighting their significant influence within the industry.

This study aims to analyze the Europe market for various segments of medium-voltage electric drives, including:

Product Type: Medium-voltage AC Drives and Medium-voltage DC Drives.
End-User: Oil & Gas, Petrochemicals, Power Generation, Minerals, Water Treatment, Food & Beverages, HVAC-R, Paper, Discrete Manufacturing, and Others.
Region: Germany, Italy, Russia, United Kingdom, France, Poland, Sweden, Spain, and Rest of Europe.