Market Share of NA Electric Motors Industry
The North American electric motors market is fragmented and accommodates several key players such as General Electric Company, Mitsubishi Heavy Industries, and ABB Ltd. Key companies operating in the market are focusing on different growth strategies to stabilize their position in the market.
- September 2022 - Mitsubishi Electric Corporation, together with Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), announced the development of an electrical motor-design support system that incorporates Mitsubishi Electric's Maisart AI technology to reduce the time required for producing electrical motor designs that achieve performance similar to the conventional design methods manually deployed by engineers.
- August 2022 - ABB announced signing an agreement with Siemens to purchase its low-voltage NEMA motor business. This acquisition provides a well-regarded product portfolio, an experienced operations, sales, and management team, and a longstanding North American customer base. The business employs around 600 people. It generated revenues of approximately USD 63 million in 2021.
North America Electric Motors Market Leaders
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Siemens AG
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Mitsubishi Heavy Industries, Ltd.
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ABB Ltd
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Robert Bosch GmbH
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General Electric Company
*Disclaimer: Major Players sorted in no particular order
