Market Share of North America Low Voltage Induction Motors Industry
The North American low voltage induction motors market is moderately fragmented, with the presence of major players like Nidec Corporation, ABB Ltd, Siemens AG, Toshiba Industrial Corporation (Toshiba Corporation), and Shanghai Electrical Machinery Group Co. Ltd (Shanghai Electric). Players in the market are adopting strategies, such as partnerships and acquisitions, to enhance their product offerings and gain sustainable competitive advantage.
- May 2023 - ABB announced that it is stepping up its growth strategy in the United States by investing around USD 170 million in manufacturing, innovation, and distribution operations to meet the rising demand for electrification and automation products and to support the current clean energy transition and reshoring trends.
- November 2022 - Siemens announced its intention to separate its motor and drive business into an independent entity. The new motor and drives business would amalgamate five current Siemens businesses/divisions: Large drives, Sykatec, Weiss Spindeltechnologies, and the low voltage motors and geared motor divisions from Siemens Digital Industries.
North America Low Voltage Induction Motors Market Leaders
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Nidec Corporation
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ABB Ltd
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Siemens AG
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Toshiba Industrial Corporation (Toshiba Corporation)
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Shanghai Electrical Machinery Group Co. Ltd (Shanghai Electric)
*Disclaimer: Major Players sorted in no particular order
