The market for low-voltage electric drives in North America, in terms of revenue, is projected to experience a Compound Annual Growth Rate (CAGR) of 3.2% from the year 2024 to 2029, culminating in a valuation of USD 3,143.6 million by the end of 2029.
This market is segmented based on product type into three categories: Low-voltage AC drives, Low-voltage DC drives, and Low-voltage servo drives. Of these, the low-voltage AC drives segment held the predominant market share in 2023. However, it is the low-voltage servo drives segment that is forecasted to witness the most rapid growth, with an estimated CAGR of 3.9% during the period extending from 2024 to 2029.
Further segmentation of the low-voltage electric drives market reveals its application across various industries, including oil & gas, petrochemicals, power generation, minerals, water treatment, food & beverages, HVAC-R (Heating, Ventilation, Air Conditioning, and Refrigeration), paper, discrete manufacturing, among others. Notably, the oil & gas sector is expected to achieve a market size of USD 514.6 million by 2029, growing at a CAGR of 2.7% throughout the forecast period. Meanwhile, the food & beverages sector is anticipated to see a more robust growth rate of 4.6%, reaching a market valuation of USD 309.4 million in 2029.
Key players in the North American low-voltage 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 an 80% share of the market in 2022, highlighting their significant influence within the industry.
This study aims to analyze the North America market for various segments of low-voltage electric drives, including:
Product Type: Low-voltage AC Drives, Low-voltage DC Drives, and Low-voltage Servo 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 6
Part 2. Scope and Methodology 7
Report Scope 8
Product Type 8
End-User 8
Region 8
Research Methodology 9
Part 3. Low-Voltage Electric Drives Market Overview 11
Summary 11
Introduction 12
Part 4. North America Low-Voltage Electric Drives Market by Product Type 13
Low-voltage AC Drives Market by End-User 15
Low-voltage DC Drives Market by End-User 17
Low-voltage Servo Drives Market by End-User 19
Part 5. North America Low-Voltage Electric Drives Market by End-User 21
Part 6. North America Low-Voltage Electric Drives Market by Region 23
Part 7. Competitive Analysis 24
Competition Overview 24
Rockwell Automation, Inc. 25
Business Overview 25
Contact Information 28
ABB, Ltd. 29
Business Overview 29
Contact Information 32
Siemens AG 33
Business Overview 33
Contact Information 35
Danfoss A/S 36
Business Overview 36
Contact Information 38
Schneider Electric SE 39
Business Overview 39
Contact Information 41
Nidec Corporation 42
Business Overview 42
Small Precision Motors 44
Contact Information 45
Yaskawa Electric Corporation 46
Business Overview 46
Contact Information 48
WEG SA 49
Business Overview 49
Contact Information 52
Disclaimer 53
FIGURES AND TABLES
North America Low-Voltage Electric Drives Market, Net Growth, 2020-2029 (USD Million)
North America Low-Voltage Electric Drives Market by Product Type, 2020-2029 (USD Million)
North America Low-Voltage Electric Drives Market by Product Type, CAGR Historic and Forecast, 2020-2029
North America Low-Voltage AC Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Low-Voltage AC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Low-Voltage DC Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Low-Voltage DC Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Low-Voltage Servo Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Low-Voltage Servo Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Low-Voltage Electric Drives Market by End-User, 2020-2029 (USD Million)
North America Low-Voltage Electric Drives Market by End-User, CAGR Historic and Forecast, 2020-2029
North America Low-Voltage Electric Drives Market Share by Country, 2023
North America Low-Voltage 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