What is the global market size of Industrial Automation Spares Market?

Global Industrial Automation Spares Market size was valued at USD 10.62 Billion in 2021 and is poised to grow from USD 11.24 Billion in 2022 to USD 17.64 Billion by 2030, at a CAGR of 5.80 % during the forecast period (2023-2030).

Industrial Automation Spares Market Size, Share, Growth Analysis, By Type(Electrical Components, Hydraulic Component, Connectors, others), By End-User(Oil & Gas, Automotive, Food & Beverage, Consumer Goods), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Industrial Automation Spares Market?

The global industrial automation spares market is fairly fragmented in nature with the existence of several well-known international and regional market players operating across the globe. Key market players are focusing on various business developing strategies such as developing innovative applications, mergers & acquisitions, partnerships, and collaborations to expand their market presence and product portfolio to cater the rising consumer need. 'ABB (Switzerland)', 'Siemens AG (Germany)', 'Schneider Electric SE (France)', 'Rockwell Automation, Inc. (US)', 'Emerson Electric Co. (US)', 'Honeywell International Inc. (US)', 'General Electric Company (US)', 'Mitsubishi Electric Corporation (Japan)', 'Omron Corporation (Japan)', 'Yokogawa Electric Corporation (Japan)', 'Festo AG & Co. KG (Germany)', 'Parker Hannifin Corporation (US)', 'Bosch Rexroth AG (Germany)', 'Danaher Corporation (US)', 'Keyence Corporation (Japan)', 'Aventics GmbH (Germany)', 'Endress+Hauser AG (Switzerland)', 'Yaskawa Electric Corporation (Japan)', 'KUKA AG (Germany)', 'Fanuc Corporation (Japan)'.

Report ID: SQSG20I2030 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 66 | Figures: 75

Industrial Automation Spares Market Regional Insights

Globally, Asia Pacific dominated the industrial automation spares market with a holding of significant revenue share in 2021 and is projected to maintain its dominance throughout the forecast period. Rapid growth in population, urbanization, increasing wages, and lower production cost are key factors projected to drive the growth of the regional market in the coming years. Furthermore, Asia Pacific region provides lucrative growth opportunities for the adoption of automation solutions because of its huge manufacturing sector and easy availability of workers.

Furthermore, North America is witnessing significant growth rate over the forecast period due to the rising adoption of industrial automation spares by various end-use industries such as food & beverages, oil & gas, and consumer goods. In addition, large presence of international market players including Rockwell Automation, Honeywell International Inc., Sensata Technologies, and Parker-Hannifin Corporation is propelling the growth and expansion of automation solutions at a high growth rate in the coming years.

Industrial Automation Spares Market Report Snapshots

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Industrial Automation Spares Market size was valued at USD 10.62 Billion in 2019 and is poised to grow from USD 11.24 Billion in 2023 to USD 17.64 Billion by 2031, at a CAGR of 5.80 % during the forecast period (2024-2031).

The industrial automation spares market is fairly fragmented in nature with the existence of several well-known international and regional market players operating across the globe. Key market players are focusing on various business developing strategies such as developing innovative applications, mergers & acquisitions, partnerships, and collaborations to expand their market presence and product portfolio to cater the rising consumer need. 'ABB (Switzerland)', 'Siemens AG (Germany)', 'Schneider Electric SE (France)', 'Rockwell Automation, Inc. (US)', 'Emerson Electric Co. (US)', 'Honeywell International Inc. (US)', 'General Electric Company (US)', 'Mitsubishi Electric Corporation (Japan)', 'Omron Corporation (Japan)', 'Yokogawa Electric Corporation (Japan)', 'Festo AG & Co. KG (Germany)', 'Parker Hannifin Corporation (US)', 'Bosch Rexroth AG (Germany)', 'Danaher Corporation (US)', 'Keyence Corporation (Japan)', 'Aventics GmbH (Germany)', 'Endress+Hauser AG (Switzerland)', 'Yaskawa Electric Corporation (Japan)', 'KUKA AG (Germany)', 'Fanuc Corporation (Japan)'

Growing Adoption of Advanced Technologies Driving Market Growth

Increasing R&D to Surge Industrial Automation Spares Market Growth

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Industrial Automation Spares Market Size, Share, Growth Analysis, By Type(Electrical Components, Hydraulic Component, Connectors, others), By End-User(Oil & Gas, Automotive, Food & Beverage, Consumer Goods), By Region - Industry Forecast 2024-2031

Industrial Automation Spares Market Regional Insights

Industrial Automation Spares Market Report Snapshots

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What is the market size of Industrial Automation Spares Market?

Who are the key vendors in the Industrial Automation Spares Market?

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Which region accounted for the largest share in Industrial Automation Spares Market?

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