Global Industrial Automation Spares Market

Global Industrial Automation Spares Market Size, Share, Growth Analysis, By Type(Electrical Components, Hydraulic Component), By End-User(Oil & Gas, Automotive) - Industry Forecast 2024-2031

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

Global Industrial Automation Spares Market Competitive Landscape

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.

Industrial Automation Spares Market Top Player’s Company Profiles

  • 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)

Industrial Automation Spares Market

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Global 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 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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