Global Industrial Automation Spares Market

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 2025-2032

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

Industrial Automation Spares Market News

  • In July 2021, Rockwell Automation Inc., entered into a collaboration with a cloud-based product digitalization platform, Kezzler AS. The new collaboration is mainly aiming on enabling manufacturers to capture their products from various raw material sources to the point of sale with the help of cloud-based chain solutions.
  • In July 2021, Siemens AG, a leading global market player announced the expansion of its partnership with SAP SE for enhancing and delivering new solutions and asset lifecycle management. The partnership is aiming to connect plant floor operations, product development through digital twins.
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Industrial Automation Spares Market size was valued at USD 11.24 Billion in 2023 and is poised to grow from USD 11.89 Billion in 2024 to USD 18.66 Billion by 2032, growing at a CAGR of 5.80% during the forecast period (2025-2032).

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)'

Growing Adoption of Advanced Technologies Driving Market Growth

Increasing R&D to Surge Industrial Automation Spares Market Growth

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.

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Global Industrial Automation Spares Market

Report ID: SQSG20I2030

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