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North America Servo Motors and Drives Market Share

Report ID: GMI11560
Published Date: Sep 2024
Report Format: PDF

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North America Servo Motors and Drives Market Share

The servo motors and drives industry is characterized by a diverse range of manufacturers operating at various scales. These companies have implemented multiple strategies to strengthen their market position, integrating vertically within the supply chain, and expanding their production capabilities. Major players in the region, including Rockwell Automation, along with global giants like Siemens, ABB, and Panasonic Corporation, engage in fierce competition.

North America Servo Motors and Drives Market Companies

Some of the key players operating across industry includes:

ABB
Advanced Motion Controls
Allied Motion
Baumuller
Bosch Rexroth
Danfoss
Delta Electronics
Fuji Electric
Hitachi
Ingenia Cat
KEB Automation
Kollmorgen
Mitsubishi Electric
Nidec
Panasonic
Rockwell Automation
Schneider Electric
Siemens
Yaskawa Electric

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

In 2023, the North American market for servo motors and drives was valued at USD 4.3 billion. It is projected to grow at a CAGR of 6.8%, reaching USD 7.9 billion by 2032.

The market is driven by stringent energy-efficient standards set by governments, rising investments in industrial operations, booming automation initiatives, and a surge in energy-intensive industrial operations.

The U.S. servo motors and drives market is anticipated to surpass USD 5.7 billion by 2032, driven by advancements in automation, adoption of smart manufacturing practices, and a growing emphasis on energy efficiency and sustainability.

Key players in the industry include ABB, Advanced Motion Controls, Allied Motion, Baumuller, Bosch Rexroth, Danfoss, Delta Electronics, Fuji Electric, Hitachi, Ingenia Cat, KEB Automation, Kollmorgen, Mitsubishi Electric, Nidec, Panasonic, Rockwell Automation, Schneider Electric, Siemens, and Yaskawa Electric.