North America Electric Drives Facts and Figures

Market Overview

It is projected that the North American electric drives market will experience a compound annual growth rate (CAGR) of 3.2% in value terms over the forecast period, resulting in an estimated value of USD 3,883.4 million by 2029. The market is segmented by product type into AC drives, DC drives, and servo drives. In 2023, the AC drives segment held the dominant position within the market. The valuation of the AC drives segment is estimated to reach USD 3,351.8 million by 2029. Furthermore, it is anticipated that the servo drives segment will demonstrate the highest CAGR of 3.9% from 2024 to 2029.

The electric drives market is further categorized into industries such as oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R, paper, discrete manufacturing, and others. The oil & gas segment is expected to reach USD 637.2 million by 2029, with a CAGR of 2.7% during the forecast period. Additionally, the revenue of the food & beverages segment is projected to grow at a CAGR of 4.5% to USD 379.3 million by 2029.

The market size of the North American electric drives market is analyzed in terms of revenue, divided into low-voltage electric drives and medium-voltage electric drives from 2020 to 2029. The total revenue of the low-voltage electric drives segment is expected to reach USD 3,143.6 million by 2029, with a CAGR of 3.2% from 2024 to 2029.

Key players in the North American electric drives market include Rockwell Automation, Inc., ABB, Ltd., Siemens AG, Danfoss A/S, Schneider Electric SE, Nidec Corporation, Yaskawa Electric Corporation, and WEG SA. According to a report by Tanalyze Ltd., these top eight companies collectively accounted for over 80% share of the market in 2022, underscoring their significant influence within the industry.

This study aims to analyze the North 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: USA, Canada, and Mexico.

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. North 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. North America Electric Drives Market by Voltage 20
Part 6. North America Electric Drives Market by End-User 22
Part 7. North America Electric Drives Market by Region 24
Part 8. Competitive Analysis 25
Competition Overview 25
Rockwell Automation, Inc. 26
Business Overview 26
Contact Information 29
ABB, Ltd. 30
Business Overview 30
Contact Information 33
Siemens AG 34
Business Overview 34
Contact Information 36
Danfoss A/S 37
Business Overview 37
Contact Information 39
Schneider Electric SE 40
Business Overview 40
Contact Information 42
Nidec Corporation 43
Business Overview 43
Small Precision Motors 45
Contact Information 46
Yaskawa Electric Corporation 47
Business Overview 47
Contact Information 49
WEG SA 50
Business Overview 50
Contact Information 53
Disclaimer 54
FIGURES AND TABLES
North America Electric Drives Market, Net Growth, 2020-2029 (USD Million)
North America Electric Drives Market by Product Type, 2020-2029 (USD Million)
North America Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
North America AC Electric Drives Market by End-User, 2020-2029 (USD Million)
North America AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America DC Electric Drives Market by End-User, 2020-2029 (USD Million)
North America DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Electric Drives Market by Voltage, 2020-2029 (USD Million)
North America Electric Drives Market by Voltage, CAGR Historic and Forecast, 2020-2029
North America Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Electric Drives Market Share by Country, 2023
North America 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
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
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