The Latin America electric drives market is projected to grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2029, reaching a value of USD 544.8 million in 2029.
The Latin America electric drives market is categorized by product type, including AC drives, DC drives, and servo drives. In 2023, the AC drives segment dominated the market, with a projected valuation of USD 477.8 million by 2029. Additionally, the servo drives segment is expected to exhibit the highest CAGR of 2.7% during the forecast period from 2024 to 2029.
When considering the market size of the Latin America electric drives market in terms of revenue, specifically broken down by low-voltage electric drives and medium-voltage electric drives, the total revenue of the low-voltage electric drives segment is expected to reach USD 412.8 million in 2029, with a CAGR of 2.4% from 2024 to 2029.
The electric drives market in Latin America can be further divided into various industries including oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R, paper, discrete manufacturing, and others. The minerals segment is projected to reach USD 129.2 million by 2029, representing a CAGR of 1.9% over the forecast period from 2024 to 2029. Additionally, the revenue of the discrete manufacturing segment is expected to grow at a CAGR of 2.8% to reach USD 47.9 million in 2029.
Key players in the Latin American electric drives market include WEG SA, Rockwell Automation, Inc., ABB, Ltd., Siemens AG, Danfoss A/S, Schneider Electric SE, Nidec Corporation, and Yaskawa Electric Corporation. According to a report by Tanalyze Ltd., these top eight companies collectively held a 90% share of the market in 2022, highlighting their significant influence within the industry.
This study aims to analyze the Latin America market for various segments of electric drives, including:
Product Type: AC Drives, DC Drives, and Servo Drives.
Voltage: Low-voltage Electric Drives and Medium-voltage Electric Drives.
End-User: Oil & Gas, Petrochemicals, Power Generation, Minerals, Water Treatment, Food & Beverages, HVAC-R, Paper, Discrete Manufacturing, and Others.
Region: Brazil, Chile, Colombia, and Latin America.
Table of Contents
TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 3
Part 1. Key Findings 5
Part 2. Scope and Methodology 6
Report Scope 7
Product Type 7
Voltage 7
End-User 7
Region 7
Research Methodology 8
Part 3. Electric Drives Market Overview 10
Summary 10
Introduction 11
Part 4. Latin America Electric Drives Market by Product Type 12
AC Drives Market by End-User 14
DC Drives Market by End-User 16
Servo Drives Market by End-User 18
Part 5. Latin America Electric Drives Market by Voltage 20
Part 6. Latin America Electric Drives Market by End-User 22
Part 7. Latin America Electric Drives Market by Region 24
Part 8. Competitive Analysis 25
Competition Overview 25
WEG SA 26
Business Overview 26
Contact Information 29
Rockwell Automation, Inc. 30
Business Overview 30
Contact Information 33
ABB, Ltd. 34
Business Overview 34
Contact Information 37
Siemens AG 38
Business Overview 38
Contact Information 40
Danfoss A/S 41
Business Overview 41
Contact Information 43
Schneider Electric SE 44
Business Overview 44
Contact Information 46
Nidec Corporation 47
Business Overview 47
Small Precision Motors 49
Contact Information 50
Yaskawa Electric Corporation 51
Business Overview 51
Contact Information 53
Disclaimer 54
FIGURES AND TABLES
Latin America Electric Drives Market, Net Growth, 2020-2029 (USD Million)
Latin America Electric Drives Market by Product Type, 2020-2029 (USD Million)
Latin America Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
Latin America AC Electric Drives Market by End-User, 2020-2029 (USD Million)
Latin America AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America DC Electric Drives Market by End-User, 2020-2029 (USD Million)
Latin America DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
Latin America Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America Electric Drives Market by Voltage, 2020-2029 (USD Million)
Latin America Electric Drives Market by Voltage, CAGR Historic and Forecast, 2020-2029
Latin America Electric Drives Market by End-User, 2020-2029 (USD Million)
Latin America Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
Latin America Electric Drives Market Share by Country, 2023
Latin America Electric Drives Market Share (%) by Competitors, 2022
WEG SA Financial Overview (BRL Million)
WEG SA Revenue, by Region, 2022
WEG SA Domestic Market Revenue, by Segment, 2022
WEG SA International Market Revenue, by Region, 2022
Rockwell Automation, Inc. Financial Overview (USD Million)
Rockwell Automation, Inc. Revenue, by Segment, 2023
Rockwell Automation, Inc. Revenue, by Type, 2023
Rockwell Automation, Inc. Revenue, by Region, 2023
ABB, Ltd. Financial Overview (USD Million)
ABB, Ltd. Revenue, by Type, 2022
ABB, Ltd. Revenue, by Segment, 2022
ABB, Ltd. Revenue, by Product, 2022
ABB, Ltd. Revenue, by Region, 2022
Siemens AG Financial Overview (EUR Million)
Siemens AG Revenue, by Segment, 2022
Siemens AG Revenue, by Region, 2022
Danfoss A/S Financial Overview (EUR Million)
Danfoss A/S Revenue, by Segment, 2022
Danfoss A/S Revenue, by Region, 2022
Schneider Electric SE Financial Overview (EUR Million)
Schneider Electric SE Revenue, by Segment, 2022
Nidec Corporation Financial Overview (JPY Billion)
Nidec Corporation Revenue, by Segment, 2023
Nidec Corporation Revenue, by Region, 2023
Nidec Corporation Small Precision Motors Revenue (JPY Billion)
Yaskawa Electric Corporation Financial Overview (JPY Million)
Yaskawa Electric Corporation Revenue, by Segment, 2023
Yaskawa Electric Corporation Revenue, by Region, 2023