North America Electric Drives Facts and Figures
Description
North America Electric Drives Facts and Figures
It is projected that the North American electric drives market will experience a compound annual growth rate (CAGR) of 3.2% in value terms over the forecast period, resulting in an estimated value of USD 3,883.4 million by 2029. The market is segmented by product type into AC drives, DC drives, and servo drives. In 2023, the AC drives segment held the dominant position within the market. The valuation of the AC drives segment is estimated to reach USD 3,351.8 million by 2029. Furthermore, it is anticipated that the servo drives segment will demonstrate the highest CAGR of 3.9% from 2024 to 2029.
The electric drives market is further categorized into industries such as oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R, paper, discrete manufacturing, and others. The oil & gas segment is expected to reach USD 637.2 million by 2029, with a CAGR of 2.7% during the forecast period. Additionally, the revenue of the food & beverages segment is projected to grow at a CAGR of 4.5% to USD 379.3 million by 2029.
The market size of the North American electric drives market is analyzed in terms of revenue, divided into low-voltage electric drives and medium-voltage electric drives from 2020 to 2029. The total revenue of the low-voltage electric drives segment is expected to reach USD 3,143.6 million by 2029, with a CAGR of 3.2% from 2024 to 2029.
Key players in the North American electric drives market include Rockwell Automation, Inc., ABB, Ltd., Siemens AG, Danfoss A/S, Schneider Electric SE, Nidec Corporation, Yaskawa Electric Corporation, and WEG SA. According to a report by Tanalyze Ltd., these top eight companies collectively accounted for over 80% share of the market in 2022, underscoring their significant influence within the industry.
This study aims to analyze the North America market for various segments of electric drives, including:
Product Type: AC Drives, DC Drives, and Servo Drives.
Voltage: Low-voltage Electric Drives and Medium-voltage Electric Drives.
End-User: Oil & Gas, Petrochemicals, Power Generation, Minerals, Water Treatment, Food & Beverages, HVAC-R, Paper, Discrete Manufacturing, and Others.
Region: USA, Canada, and Mexico.
Table of Contents
54 Pages
- FIGURES AND TABLES
- Part 1. Key Findings
- Part 2. Scope and Methodology
- Report Scope
- Product Type
- Voltage
- End-User
- Region
- Research Methodology
- Part 3. Electric Drives Market Overview
- Summary
- Introduction
- Part 4. North America Electric Drives Market by Product Type
- AC Drives Market by End-User
- DC Drives Market by End-User
- Servo Drives Market by End-User
- Part 5. North America Electric Drives Market by Voltage
- Part 6. North America Electric Drives Market by End-User
- Part 7. North America Electric Drives Market by Region
- Part 8. Competitive Analysis
- Competition Overview
- Rockwell Automation, Inc.
- Business Overview
- Contact Information
- ABB, Ltd.
- Business Overview
- Contact Information
- Siemens AG
- Business Overview
- Contact Information
- Danfoss A/S
- Business Overview
- Contact Information
- Schneider Electric SE
- Business Overview
- Contact Information
- Nidec Corporation
- Business Overview
- Small Precision Motors
- Contact Information
- Yaskawa Electric Corporation
- Business Overview
- Contact Information
- WEG SA
- Business Overview
- Contact Information
- Disclaimer
- FIGURES AND TABLES
- North America Electric Drives Market, Net Growth, 2020-2029 (USD Million)
- North America Electric Drives Market by Product Type, 2020-2029 (USD Million)
- North America Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
- North America AC Electric Drives Market by End-User, 2020-2029 (USD Million)
- North America AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- North America DC Electric Drives Market by End-User, 2020-2029 (USD Million)
- North America DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- North America Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
- North America Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- North America Electric Drives Market by Voltage, 2020-2029 (USD Million)
- North America Electric Drives Market by Voltage, CAGR Historic and Forecast, 2020-2029
- North America Electric Drives Market by End-User, 2020-2029 (USD Million)
- North America Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
- North America Electric Drives Market Share by Country, 2023
- North America Electric Drives Market Share (%) by Competitors, 2022
- Rockwell Automation, Inc. Financial Overview (USD Million)
- Rockwell Automation, Inc. Revenue, by Segment, 2023
- Rockwell Automation, Inc. Revenue, by Type, 2023
- Rockwell Automation, Inc. Revenue, by Region, 2023
- ABB, Ltd. Financial Overview (USD Million)
- ABB, Ltd. Revenue, by Type, 2022
- ABB, Ltd. Revenue, by Segment, 2022
- ABB, Ltd. Revenue, by Product, 2022
- ABB, Ltd. Revenue, by Region, 2022
- Siemens AG Financial Overview (EUR Million)
- Siemens AG Revenue, by Segment, 2022
- Siemens AG Revenue, by Region, 2022
- Danfoss A/S Financial Overview (EUR Million)
- Danfoss A/S Revenue, by Segment, 2022
- Danfoss A/S Revenue, by Region, 2022
- Schneider Electric SE Financial Overview (EUR Million)
- Schneider Electric SE Revenue, by Segment, 2022
- Nidec Corporation Financial Overview (JPY Billion)
- Nidec Corporation Revenue, by Segment, 2023
- Nidec Corporation Revenue, by Region, 2023
- Nidec Corporation Small Precision Motors Revenue (JPY Billion)
- Yaskawa Electric Corporation Financial Overview (JPY Million)
- Yaskawa Electric Corporation Revenue, by Segment, 2023
- Yaskawa Electric Corporation Revenue, by Region, 2023
- WEG SA Financial Overview (BRL Million)
- WEG SA Revenue, by Region, 2022
- WEG SA Domestic Market Revenue, by Segment, 2022
- WEG SA International Market Revenue, by Region, 2022
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