Richmond, Feb. 27, 2024 (GLOBE NEWSWIRE) -- According to a research report "Romania Medium Voltage Drives Market”, by Power Range (<1 MW, 1MW - 3MW, 3MW- 7MW, >7MW), By Application Sector (Oil & Gas, Hydrogen, Mining & AC, Pulp & Paper, Water and Wastewater, Cement, and Others), Application (Pump {Feed Water Pump, Booster Pump, Freshwater Pump, Slurry Pump, and Others}, Fan/Exhausters {Induced Draft Fan, Forced Draft Fan, Baghouse Fan, Furnace Fan, Separator Fan, and Others}, Conveyor, Compressor, Extruders and Mixers/Agitators, Turbine, and Others), Drive (AC, DC, Servo) and Region - Global Forecast to 2030.
Global Romania Medium Voltage Drives Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 21.0 Million |
| Market size value in 2030 | USD 31.6 Million |
| CAGR (2023-2030) | 6.0% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Power Range, Application, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Romania Medium Voltage Drives Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Medium Voltage Drives market in Romania is experiencing notable growth propelled by various factors unique to the region. There's a heightened focus on energy efficiency driven by stringent regulations and a desire to reduce operational costs among industries in Romania. Medium voltage drives play a pivotal role in optimizing energy consumption by precisely controlling the speed and torque of electric motors in applications such as pumps, fans, and compressors, aligning with the country's sustainability goals.
Furthermore, Romania is witnessing a surge in industrial automation and digitization, particularly in sectors like manufacturing, utilities, and infrastructure development. This trend underscores the increasing adoption of medium voltage drives as essential components of automated systems, ensuring efficiency and precision in industrial processes. The market dynamics in Romania are also influenced by factors such as the integration of renewable energy sources and advancements in drive systems technology. The expansion of renewable energy projects, coupled with the need for grid stabilization and power factor correction, drives the demand for medium voltage drives in renewable energy applications in the country. Additionally, continuous improvements in drive technology, including advancements in power electronics and control algorithms, contribute to the enhanced performance and functionality of medium voltage drives, fostering their adoption across various industries in Romania. Overall, the medium voltage drives market in Romania is characterized by competitive dynamics, with companies striving to innovate and differentiate their offerings to capture market share in a landscape shaped by increasing demand for energy-efficient solutions and technological advancements. Despite challenges such as regulatory uncertainties, the market in Romania is poised for steady growth driven by these factors.
Major vendors in the global Romania Medium Voltage Drives market:
- ABB Ltd.
- Delta Electronics
- Eaton
- General Electric
- Hitachi
- iOpen
- Johnson Controls
- Nidec Corporation
- Regal Rexnord Corporation
- Rockwell Automation
- Schneider Electric
- Siemens
- WEG
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Growing Industrial Sector, Including Manufacturing, Mining, Oil and Gas, and Utilities
Romania's industrial sector, encompassing manufacturing, mining, oil and gas, and utilities, is undergoing significant expansion, leading to an increased demand for medium voltage drives. These sectors heavily rely on efficient motor control solutions to optimize processes, boost productivity, and lower energy consumption. Romania's manufacturing industry is rapidly growing, driven by factors like population expansion, urbanization, and technological advancements. Medium voltage drives play a pivotal role in manufacturing operations by offering precise control over machinery and equipment, thereby improving efficiency and product quality.. By facilitating precise control over motor speed and torque, medium voltage drives optimize production processes, minimize downtime, and enhance safety in mining operations. Continuous advancements in medium voltage drive technology.
Market Dynamics
Drivers:
- Growing industrial sector, including manufacturing, mining, oil and gas, and utilities
- Continuous advancements in medium voltage drive technology
- The increasing trend towards industrial automation
- Growing focus on sustainable energy sources
Opportunities:
- Increasing adoption of electric vehicles (EVs)
- Government initiatives aimed at promoting energy efficiency and reducing carbon emissions
- Increasing adoption of digitalization and smart technologies in industries
Increasing Adoption of Electric Vehicles (EVs)
Romania, like many nations globally, is experiencing a notable transition towards sustainable transportation, marked by the increasing uptake of electric vehicles (EVs). As the adoption of EVs expands, there emerges a pressing need for the development of robust EV charging infrastructure across Romania. Medium voltage drives play a pivotal role in EV charging stations, facilitating efficient power conversion, distribution, and control. With the rising demand for EV charging infrastructure, there is a corresponding surge in the need for medium-voltage drives to support the expansion of charging networks. The integration of electric vehicles into Romania's existing power grid necessitates sophisticated control systems to manage electricity demand, distribution, and grid stability. Medium voltage drives enable efficient grid integration by offering precise control over charging rates and power flows. Additionally, these drives aid utilities in managing peak demand and optimizing energy distribution, thereby enhancing the reliability and efficiency of the power grid. The escalating momentum towards electric mobility presents collaborative opportunities and avenues for innovation among stakeholders in the EV and medium voltage drives sectors within Romania. Research institutions, industry associations, and technology providers can collaborate to develop advanced charging solutions, energy management systems, and grid integration strategies. By harnessing synergies between EV technology and medium voltage drives, stakeholders can expedite the adoption of electric vehicles while fostering innovation and bolstering competitiveness in the market.
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The Oil & Gas Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global Romania Medium Voltage Drives market, the Application Sector segment comprises various categories such as Oil & Gas, Hydrogen, Mining & AC, Pulp & Paper, Water and Wastewater, Cement, Others. The Oil & Gas segment is crucial in influencing Romania's Medium Voltage Drives market. It reflects a connection between energy needs and industrial activities. In this sector, Medium Voltage Drives are essential for tasks like pumping, compression, and material handling in the oil and gas infrastructure. As Romania expands its energy resources and oil and gas exploration, the need for reliable Medium Voltage Drives is growing. These motors are vital for powering equipment, boosting operational efficiency in the Oil & Gas sector. Moreover, there is a rising interest in advanced, energy-efficient Medium Voltage Drives, aligning with sustainability goals. In navigating the complexities of the Oil & Gas industry, the Medium Voltage Drives market supports Romania's pursuit of energy security and sustainable economic growth.
Segmentations Analysis of Romania Medium Voltage Drives Market: -
- By Power Range
- <1 MW
- 1MW - 3MW
- 3MW- 7MW
- >7MW
- By Application Sector
- Oil & Gas
- Hydrogen
- Mining & AC
- Pulp & Paper
- Water and Wastewater
- Cement
- Others
- By Application
- Pump
- Feed Water Pump
- Booster Pump
- Freshwater Pump
- Slurry Pump
- Others
- Fan/Exhausters
- Induced Draft Fan
- Forced Draft Fan
- Baghouse Fan
- Furnace Fan
- Separator Fan
- Others
- Conveyor
- Compressor
- Extruders and Mixers/Agitators
- Turbine
- Others
- Pump
- By Drive
- AC
- DC
- Servo
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