Most of the Latin America’s GDP comes from mining industry since five of the top ten mining countries globally are from Latin America. Despite the moderation of the mining sector across the globe, Latin America continues to witness growth in this sector. The presence of a large number of mining companies in the region as well as growth in the shale gas and crude oil exploration is driving the demand for safety drives and motors market in the region.
Different safety drives are used at every step of the industrial process; starting from the mine to the finished product. Interestingly, these drives and motors help in starting the large motors with minimum effort, while uninterruptedly adjusting the speed as required by the process, driving excavators, conveyors, mills, fans and pumps. Growing investments in mining and growing support from the government to foreign entrants will boost the growth of safety drives & motors in the region.
The Latin America safety drives & motors market is expected to increase to USD 0.37 billion by 2021 at a CAGR of 5.10% over the period 2016 - 2021. Latin America safety drives and motors market is broadly segmented based on types, end-user industry and geography. On the basis of types, the market has been segmented into AC drives and DC drives. On the basis of its end-users, it has been categorized into various segments such as manufacturing, automotive, healthcare, industrial and others. Some of the market players mentioned in the report are Rockwell Automation, SIGMATEK Safety Systems, ABB Limited, Beckhoff and more.
What the report offers
- Market definition for Latin America safety drives and motors market, along with identification of key drivers and restraints.
- Market analysis for Latin America safety drives and motors market, with region-specific assessments.
- Identification of factors instrumental in changing the market scenario, offering prospective opportunities and identification of key companies that can influence the market on a regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
- Identification and analysis of the macro and micro factors that affect Latin America safety drives and motors market on a regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
