Industrial Automation Spares Market Regional Analysis

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.