The medium-voltage (MV) drives market has been volatile since the global economic crisis of
2009 as suppliers and customers struggle to find balance in the market. The past year provided
another year of extreme variation, this time between regions, with the United States buoying lower performance from the rest of the regions. However, moving into 2014, the market is set to returnt o a path towards steady footing in all regions. It should be noted, however, that projected growth in the market over the next 5 years is lower than the historical averages of double-digit growth rates that suppliers enjoyed for many years prior to 2009. This is largely a result of the large size of the current market. IHS estimates that the MV drives market has grown almost threefold since 2006 to $2.9 billion in 2014.