Insights on the Industrial Automation Spares Global Market to 2029 - Need to Improve the Safety of Production Processes Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Industrial Automation Spares Market by Type, End User, and Geography - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The Global Industrial Automation Spare Part Components Market is expected to reach a value of $16.54 billion by 2029, at a CAGR of 5.7% during the forecast period 2022-2029.

The growth of the industrial automation spare part components markets is attributed to the rising investments and transformations in conventional manufacturing facilities and the transition 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. 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.

The study offers a comprehensive analysis of the industrial automation spare part components market based on type, end user and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Key Questions Answered in the Report

• Which are the high-growth market segments in terms of type, end user, and geography?
• What is the historical market size for the industrial automation spare part components market?
• What are the market forecasts and estimates for the period 2022-2029?
• What are the major drivers, restraints, opportunities, and challenges in the industrial automation spare part components market?
• Who are the major players in the market, and what shares of the market do they hold?
• How is the competitive landscape for the industrial automation spare part components market?
• What are the recent developments in the industrial automation spare part components market?
• What are the different strategies adopted by the major players in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the industrial automation spare part components market, and how do they compete with other players?

Market Dynamics

Drivers

• Major Initiatives to Promote Automation in Industrial Production
• Shift from Traditional to Automated Manufacturing
• High Cost of Labor in Developed Countries

Restraints

• High Cost of Procurement

Opportunities

• Rising Number of SMEs
• Need to Improve the Safety of Production Processes

Challenges

• Low-cost Competitors

Scope of the Report

Industrial Automation Spare Part Components Market, by Type

• Electrical Component
• Motors & Drives
• Variable Frequency Drives (VFD)
• Power Supply Unit (PSU)
• Circuit Breakers
• Actuators
• Line Reactors
• Other Electrical Components
• Electronic Component
• Switches & Relays
• Sensors
• Printed Circuit Boards
• PLC Systems
• Encoders/Potentiometers
• Other Electronic Components
• Pneumatic and Hydraulic Component
• Hydraulic Pumps
• Hydraulic Valves
• Hydraulic Cylinders
• Air Preparation Components
• Air Valves
• Air Cylinders
• Other Components
• Mechanical Components
• Gears/Gear System
• Bearings
• Couplers
• Other Mechanical Components
• Connectors
• Structural Machine Parts
• Fasteners
• Machine Frames
• Other Parts
• Cable and Harnesses
• Industrial Safety Components

Industrial Automation Spare Part Components Market, by End User

• Oil & Gas
• Automotive
• Food & Beverage
• Semiconductor & Electronics
• Chemical & Materials
• Consumer Goods
• Mining & Metals
• Power
• Pharmaceutical & Biotech
• Machine & Tools
• Paper & Pulp
• Aerospace & Defense
• Other End Users

Industrial Automation Spare Part Components Market, by Geography

• Asia-Pacific (APAC)
• China
• Japan
• South Korea
• India
• South East Asia
• Rest of Asia-Pacific
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe (RoE)
• North America
• U.S.
• Canada
• Latin America
• Middle East & Africa

Companies Mentioned

• ABB Limited (Switzerland)
• Siemens AG (Germany)
• Honeywell International Inc. (U.S.)
• Rockwell Automation (U.S.)
• Baumer Ltd (Switzerland)
• Encoder Products Company Inc (U.S.)
• Fuji Electric Co. Ltd. (Japan)
• Delta Electronics Inc (Taiwan)
• Emerson Electric (U.S.)
• Omron Corporation (Japan)
• Panasonic Corporation (Japan)
• Baumuller Holding GmbH & Co. KG (Germany)
• Balluff GmbH (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.)
• Mitsubishi Electric Corporation (Japan)

For more information about this report visit https://www.researchandmarkets.com/r/qlls36.

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