The North America safety drives & motors market is expected to grow to USD 1.39 billion by 2021 at a CAGR of 7.22% over the period 2016 - 2021.
Safety drives & motors can help boost the productivity, improve energy efficiency, and cut maintenance costs, while ensuring the safety and health of direct users or third parties. These factors are not be undermined by the manner in which the equipment is meant to be operated. The Original Equipment Manufacturer (OEM) industry is a lucrative industry in North America and by large the safety-related product aspects regulate the adoption and installation of the electrical equipment in this region.
The recent North American recession tightened credit and the growing competition has helped the surviving suppliers to grow; however, their challenges tend to grow as well. Nevertheless, recovering vehicle sales and stabilizing economy are set to boost the sales of safety drives & motors in the region. Additionally, the booming shale gas industry and improving manufacturing outlook on account of increasing domestic consumption will augment the demand for safety drives and motors in the region.
The North America safety drives & motors market is broadly segmented based on types, end-user industry, and geography. As per types, the market has been segmented into AC drives and DC drives. Similarly, based on end-users, the market has been categorized into various segments such as manufacturing, automotive, healthcare, industrial, and others.
Some of the market players mentioned in the report are:
- ABB Limited
- Beckhoff
- Rockwell Automation
- SIGMATEK Safety Systems
What the Report Offers
- Market definition for North America safety drives and motors market along with identification of key drivers and restraints.
- Market analysis for North America safety drives and motors market, with region-specific assessments.
- Identification of factors instrumental in changing the market scenario, rising 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 the North 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.
