The Middle East and Africa (MEA) electric drives market is projected to grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2029, reaching a value of USD 375.4 million in 2029.
The MEA 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 335.1 million by 2029. Additionally, the servo drives segment is anticipated to exhibit the highest CAGR of 4.1% during the forecast period from 2024 to 2029.
When considering the market size of the MEA 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 286.4 million in 2029, with a CAGR of 2.8% from 2024 to 2029.
The MEA electric drives market 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 oil & gas segment is projected to reach USD 92.6 million by 2029, representing a CAGR of 2.4% over the forecast period from 2024 to 2029. Additionally, the revenue of the food & beverages segment is expected to grow at a CAGR of 4.0% to reach USD 24.4 million in 2029.
In 2023, the top three countries in the MEA region collectively accounted for approximately one-third of the market share.
Key players in the MEA electric drives market include Rockwell Automation, Inc., Siemens AG, Schneider Electric SE, ABB, Ltd., and Danfoss A/S. According to Tanalyze Ltd.’s report, these top five companies collectively held over 60% of the market share in 2022, highlighting their substantial influence within the industry.
This study aims to analyze the MEA 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: Saudi Arabia, UAE, Iran, Turkey, South Africa, and Rest of MEA.
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 9
Part 3. Electric Drives Market Overview 11
Summary 11
Introduction 12
Part 4. MEA Electric Drives Market by Product Type 13
AC Drives Market by End-User 15
DC Drives Market by End-User 17
Servo Drives Market by End-User 19
Part 5. MEA Electric Drives Market by Voltage 21
Part 6. MEA Electric Drives Market by End-User 23
Part 7. MEA Electric Drives Market by Region 25
Part 8. Competitive Analysis 26
Competition Overview 26
Rockwell Automation, Inc. 27
Business Overview 27
Contact Information 30
Siemens AG 31
Business Overview 31
Contact Information 33
Schneider Electric SE 34
Business Overview 34
Contact Information 36
ABB, Ltd. 37
Business Overview 37
Contact Information 40
Danfoss A/S 41
Business Overview 41
Contact Information 43
Disclaimer 44
FIGURES AND TABLES
MEA Electric Drives Market, Net Growth, 2020-2029 (USD Million)
MEA Electric Drives Market by Product Type, 2020-2029 (USD Million)
MEA Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
MEA AC Electric Drives Market by End-User, 2020-2029 (USD Million)
MEA AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
MEA DC Electric Drives Market by End-User, 2020-2029 (USD Million)
MEA DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
MEA Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
MEA Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
MEA Electric Drives Market by Voltage, 2020-2029 (USD Million)
MEA Electric Drives Market by Voltage, CAGR Historic and Forecast, 2020-2029
MEA Electric Drives Market by End-User, 2020-2029 (USD Million)
MEA Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
MEA Electric Drives Market Share by Country, 2023
MEA Electric Drives Market Share (%) by Competitors, 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
Siemens AG Financial Overview (EUR Million)
Siemens AG Revenue, by Segment, 2022
Siemens AG Revenue, by Region, 2022
Schneider Electric SE Financial Overview (EUR Million)
Schneider Electric SE Revenue, by Segment, 2022
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
Danfoss A/S Financial Overview (EUR Million)
Danfoss A/S Revenue, by Segment, 2022
Danfoss A/S Revenue, by Region, 2022