The Industrial Automation Spares Market is expected to grow at a CAGR of 5.7% from 2022 to reach USD 16.54 billion by 2029.
The growth of the industrial automation spares market is attributed to the rising investments and transformation in conventional manufacturing facilities and shift to digitized systems. This transition has created the demand for the deployment of automation systems and thus the need for industrial automation spare part components.
Moreover, the rising number of SMEs and the need to improve the safety of the production process are expected to create an ample number of opportunities for the players in the market. However, the high cost of procurement and low-cost competitors restrains and challenges the growth of this market.
Here are the top 10 companies operating in Industrial Automation Spares Market
ABB Limited (ABB) manufactures industrial automation products for the utility, industry, transport, and infrastructure sectors. The company operates through the business segments: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation.
The product portfolio offered by the company includes software and digital solutions, data centers, EV charging, robotics, and machine and factory automation. The company offers various products, such as drivers and controls, motors, capacitors and filters, control systems, and transformers for the industrial automation spare part components market. The company provides its products and services to various industries, such as automotive, chemical, food & beverage, marine & port, metals, power generation, and pulp & paper.
The company’s Industrial Automation segment includes solutions, such as turnkey engineering, control engineering software, and lifecycle services. ABB Limited has 23,900 patent applications as of December 2020. The company operates in more than 100 countries across Europe, the Americas, Asia, and the Middle East & Africa. The company has a headcount of over 105,000 employees.
Siemens AG (Siemens) provides power and energy solutions for building technology, drive technology, healthcare, industrial automation, mobility, financing, and consumer products. The company’s operating segments are Digital Industries, Smart Infrastructure, Gas & Power, Mobility, Siemens Healthineers, Siemens Gamesa Renewable Energy, Financial Services, and Portfolio Management.
Siemens focuses on automation, digitalization for the process and manufacturing industries, intelligent infrastructure for buildings and distributed energy systems, conventional and renewable power generation and power distribution, smart mobility solutions for rail and road, and medical technology and digital healthcare services.
The company’s offerings cater to the aerospace, automotive manufacturing, chemical, crane, fiber, cement, food & beverage, marine, mining, oil & gas, and pharmaceutical industries. The company has a strong geographic presence in the U.S., Canada, Mexico, Brazil, Saudi Arabia, China, India, Malaysia, Germany, the U.K., and the Netherlands. The company has a headcount of approximately 303,000 employees. Siemens had approximately 42,900 patents as of September 2020.
Honeywell International Inc.
Honeywell International Inc. (Honeywell) is one of the leading technology and manufacturing companies globally.
The company operates through four business segments: Aerospace, Home & Building Technologies, Performance Material & Technologies, and Safety & Productivity Solutions. The company provides process technologies and automation solutions, including Honeywell Forge connected solutions through its Performance Material & Technologies segment.
The major products & solutions offered by the company, including the Honeywell Forge solutions, are supported by Honeywell Connected Enterprise, which helps automate processes to improve efficiency while reducing downtime and safety costs. Honeywell serves the aerospace, construction, chemicals & materials, healthcare & pharmaceuticals, manufacturing, retail, and consumer goods industries.
Honeywell International Inc. has a strong geographic presence across North America, Europe, Asia-Pacific, and the rest of the world. The company has a headcount of over 103,000 employees.
Rockwell Automation, Inc. (Rockwell) provides industrial automation and information solutions. The company operates through two segments: Architecture & Software and Control Products & Solutions. The Control Products & Solutions segment offers services in low- and medium-voltage electro-mechanical and electronic motor starters, motor and circuit protection devices, AC/DC variable frequency drives, push buttons, signaling devices, termination and protection devices, relays and timers, and various packaged solutions.
The company serves both discrete and process industries, such as food & beverage, home & personal care, life sciences, automotive and tire, oil & gas, and mining & metal industries. The company has a strong geographic presence in more than 100 countries, including the U.S., Canada, China, Mexico, Italy, the U.K., and Germany. The company has a headcount of over 24,500 employees.
Baumer Ltd. is a leading manufacturer of sensors, encoders, measuring instruments, and components for automated image processing.
The company serves small and highly specialized plant and machine construction companies and large industrial enterprises. Baumer has several research and development centers and manufacturing facilities in Denmark, Germany, Italy, Switzerland, and North Macedonia. The company’s product portfolio comprises object detection, distance measurement, smart vision sensor, industrial cameras, identification, rotary encoders, sensors, cable connectivity, and other accessories.
Baumer Ltd. has a strong presence across all the major continents through its 39 subsidiaries in 19 countries. The company has a headcount of 2,700 employees.
Meticulous Research in its latest publication on global Industrial Automation Spares Market has predicted the growth of 5.7% during the forecast year 2022-2029
Encoder Products Company, Inc.
Encoder Products Company, Inc. (EPC) is a leading manufacturer and designer of motion sensing devices and accessories. In North America, EPC is one of the largest manufacturers of encoders.
The company has its manufacturing facility located at its headquarters and caters to various industries, such as aerospace, food & beverage, packaging, printing, textiles, material handling, and autonomous vehicle. The company provides cables, connectors, repeaters, splitters, and mounting brackets for the industrial automation spare parts component market.
The company is actively engaged in new product launches to augment its market share. For instance, in 2021, Encoder Products Company, Inc. launched new models of absolute encoders designed for harsh factory and plant floor environments. These encoders are rugged and reliable and are available in both single and multi-turn resolutions.
Fuji Electric Co., Ltd.
Fuji Electric Co., Ltd. is a manufacturer of semiconductors, integrated circuits, drive components, and measuring instruments. The company operates through five reportable segments: Power Electronics Systems Energy, Power Electronics Systems Industry, Electronic Devices, Power Generation, and Food and Beverage Distribution.
The company’s offerings include drives & inverters, semiconductors, power supply, and factory automation systems. Fuji Electric’s principal subsidiaries include Fuji Electric Construction Co., Ltd. (Japan), Fuji Denki Sosetsu Co., Ltd. (Japan), Azumi Fuji Company (Japan), and Fuji Electric Chiba Tech. Co., Ltd. (Japan). Fuji Electric is located in 128 locations and 21 countries globally. The company has a global presence across the Americas, Europe/Africa, Asia/the Middle East, China, and Japan.
Delta Electronics, Inc.
Delta Electronics, Inc is electronics manufacturing company that specializes in DC products and switching power supplies products for power and thermal management solutions. The company’s business is categorized into three segments: Power Electronics, Automation, and Infrastructure.
Delta Electronics is one of the leading manufacturers of power products and telecom power products. The company has strong R&D capabilities, and it invests over 8% of its annual sales in R&D in its facilities located in China, Europe, Japan, Singapore, Thailand, and the U.S.
The company’s offerings include power and system components, fans, thermal management products, automotive electronics products, industrial automation products, and building automation products. Delta Electronics has its presence across China, the U.S., Taiwan, Thailand, and other regions.
Emerson Electric Co.
Emerson Electric Co. provides various products and delivers services globally to industrial, commercial, and consumer markets.
The company operates through two business segments: Automation Solutions and Commercial and Residential Solutions. The company offers measurement and analytical instrumentation, industrial valves and equipment, and process control software and systems for the process, hybrid, and discrete manufacturing industries through its Automation Solutions segment. The Commercial and Residential Solutions segment offers climate technologies & tools and home products.
The company has a strong geographic presence in the U.S., Canada, the U.K., France, Germany, Russia, Brazil, Argentina, Mexico, China, India, Japan, Indonesia, Korea, Thailand, and Dubai. The company has a headcount of approximately 84,000 employees globally.
OMRON Corporation (OMRON) is a leading manufacturer of automation equipment and systems for computer, communication, and control technology. The company operates through four reporting segments: Industrial Automation, Healthcare, Social Systems, and Mechanical Components. The company offers sensors, switches, control components, and automation systems through its Industry Automation segment.
The company offers high-quality sensing and control technology and promotes the innovation of the global manufacturing sector. Omron also offers technical support and training services and helps clients gain information on the required solutions through its technical guide. OMRON operates globally and has its presence in the Americas, Europe, Asia-Pacific, Greater China, Japan/Korea, Middle East, and Africa. The company has a presence across 80 countries with around 300 offices globally and had 10,087 patents as of March 2020.
Popular Mentions: Panasonic Corporation (Japan), Baumuller Holding GmbH & Co. KG (Germany), Sensata Technologies, Inc. (U.S.), Festo Corporation (Germany), Parker-Hannifin Corporation (U.S.), SMC Corporation (Japan), DESTACO (U.S.), Swiss Automation, Inc. (U.S.), and Mitsubishi Electric Corporation (Japan).
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Authoritative Research on the Industrial Automation Spares Market – Global Opportunity Analysis and Industry Forecast (2012-2029)
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