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Table of Contents
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About This Report
Table of Contents
SCOPE OF THE REPORT
Frequently Asked Questions
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North America Safety Drives & Motors Market Size
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Study Period
2019 - 2029
Base Year For Estimation
2023
Forecast Data Period
2024 - 2029
Historical Data Period
2019 - 2022
CAGR
6.20 %
Market Concentration
Medium
Major Players
*Disclaimer: Major Players sorted in no particular order
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North America Safety Drives & Motors Market Analysis
The North America Safety Drives and Motors Market is expected to register a CAGR of 6.2% during the forecast period from 2021 to 2026. The demand for safety equipment, the need for cost-effective systems, and industry safety standards propel the region's global safety drives and motors market.
Drives and motors are critical components of any industrial sector's machinery. Since several hazardous zones exist in the core industrial sectors, the need for safety drives and motors has become pivotal. The IEC and EN standards are used to certify motors and meet ATEX directives and other international standards.
The safety drives help to reduce machine time and increase productivity while protecting both personnel and equipment from damage. As a result, these safety devices have features that allow for system speed and torque control, optimal process control, and significant energy savings.
Industry machines and plants are becoming more flexible and productive, which has resulted in the development of safety-integrated devices. These integrated safety functions allow for the cost-effective implementation of new safety concepts. Moreover, the increasing vehicle sales rate, especially in the United States, and stabilizing economy boost the region's sales and demand for safety drives and motors. The US is the second biggest passenger car market, after China. As per the US Dept. of Transportation and Federal Highway Administration, there were 286.9 million cars in the US.
The COVID-19 outbreak had an unprecedented impact on the safety drives and motors market, with several end-user industries that deploy drives facing several difficulties. The industries were riddled with nationwide lockdowns, which brought them to a standstill. However, with the reopening of the offices and industries in the post-COVID-19 era, the industry is expected to witness an increasing need for energy-efficient devices creating an ancillary demand for drives and motors.
North America Safety Drives & Motors Market Trends
This section covers the major market trends shaping the North America Safety Drives & Motors Market according to our research experts:
Oil and Gas Sector is Expected to Hold the Maximum Market Share
Safety drives and motors play an essential role in producing and distributing oil and gas and pumping systems for oil and compression drive trains for gas infrastructure.
With the increasing investment in oil and gas upstream and midstream sectors, the demand for AC/DC safety drives and motors is expected to witness significantly high growth. The oil and gas upstream companies are gradually investing in oil production activities, which, in turn, will boost the replacement rate of traditional appliances. In turn, this is expected to increase the growth across the oil and gas production market in the North American region
U.S. Energy Information Administration has previously forecasted that the United States liquid fuels consumption will average 15.7 million barrels per day in the Q2 of 2020, down by 23% from the same period in the previous year. The declining result reflects travel restrictions and reduced economic activity related to the COVID-19 pandemic mitigation efforts. U.S. Energy Information Administration expects one of the most significant declines in the United States oil consumption that has already happened, and demand will generally rise in the next 18 months.
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United States Expected to Dominate the Market
Demand for safe drives and motors in the United States is driven by the industrial revolution across automobiles, aerospace, defense, and regional efforts to emerge as significant exporters of oil and gas products.
Domestic industrial players in the region also follow energy efficiency standards. When the United States began to profit from the Fourth Industrial Revolution, local manufacturers were using large amounts of data to maintain energy consumption at the industrial level. These factors are the driving factors for industrial motors.
The demand for safety equipment, industry safety standards, and the need for cost-effective systems also contribute to the growth of the region's global safe drive and motor market.
Rising vehicle sales and economic stability will increase the region's sales and demand for safe drives and motors. In addition, rising domestic consumption is expected to drive demand for safe drives and motors in the region, driven by growth in the shale gas industry and an improved manufacturing outlook.
Shale gas as an alternative to oil has the new ability to modify regional economic and global political scenarios and redesign domestic and foreign energy policies for innovative and self-sufficient development in North America, especially the United States.
Moreover, the Department of Energy (DOE) is funding R&D (about USD 25 million) to develop energy-efficient electric motors. It expects to develop a new generation of energy-efficient, high power density, high speed, integrated medium voltage drive systems for diverse applications.
North America Safety Drives & Motors Industry Overview
The market is concentrated with some major players occupying maximum market share, which are in demand by Oil and Gas, Petrochemicals and Chemicals, and Energy utility industries.
August 2021 - Siemens announced the availability of the SINAMICS G120XE enclosed drive system. It is specifically designed to meet the demands of industrial pump, fan, and compressor applications in a wide range of markets. Based on the SINAMICS G120X infrastructure drive, this new enclosed system is ideal for quick design and commissioning in oil-and-gas/petrochemical, water/wastewater, power plants, and industrial climate control, refrigeration, and chillers in harsh environments.
December 2020 - Beckhoff Automation launched ELM72xx EtherCAT servo drives that deliver an output current (Irms) of up to 16 A at 48 V DC for the power supply, which expands its portfolio of compact drive technology in I/O terminal format. They offer the current technology features with increased performance and functionality compared with comparable EL series I/O designs. The ELM72xx metal housings render optimum heat dissipation even at high output power and optimal shielding against electrical interference.
North America Safety Drives & Motors Market Leaders
ABB Limited
Rockwell Automation, Inc.
Siemens
Pilz GmbH & Co. KG
SIGMATEK GmbH & Co KG
*Disclaimer: Major Players sorted in no particular order
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North America Safety Drives & Motors Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study and Research Methodology
1.3 Executive Summary
2. MARKET OVERVIEW
2.1 Introduction
2.2 Industry Value-Chain Analysis
2.3 Industry Attractiveness - Porter's Five Forces Analysis
2.4 Industry Policies
3. MARKET DYNAMICS
3.1 Introduction
3.2 Market Drivers
3.2.1 Industry Safety Standards
3.2.2 Demand for Safe Equipment
3.2.3 Flexible Functionality
3.2.4 High Degree of Cost-Effectiveness
3.3 Market Restraints
3.3.1 Complexity of Standards
4. TECHNOLOGY SNAPSHOT
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Drives
5.1.1.1 AC Drives
5.1.1.2 DC Drives
5.1.2 Motors
5.1.2.1 AC Motors
5.1.2.2 DC Motors
5.2 By End-User Industry
5.2.1 Energy and Power
5.2.2 Mining
5.2.3 Oil and gas
5.2.4 Manufacturing
5.2.5 Petrolium and Chemical
5.2.6 Other End-User Industries
5.3 By Country
5.3.1 United Sates
5.3.2 Canada
6. VENDOR MARKET SHARE
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Rockwell Automation
7.1.2 SIGMATEK Safety Systems
7.1.3 ABB Limited
7.1.4 Beckhoff
7.1.5 Siemens
7.1.6 B&R
7.1.7 KOLLMORGEN
7.1.8 KEBA
7.1.9 Hoerbiger
7.1.10 Pilz
7.1.11 WEG
7.1.12 CG North America
8. INVESTMENT ANALYSIS
8.1 Investment Scenario and Opportunities
9. FUTURE OF THE MARKET
North America Safety Drives & Motors Industry Segmentation
Integrated safety functions of safety drives and motors remain popular to meet the growing demands of modern infrastructure, efficient energy consumption, and environmentally friendly solutions. The safety drives and motors also contribute to shorter downtimes, increased productivity, and low maintenance and setup costs.
By Type Drives AC Drives DC Drives
Motors AC Motors DC Motors
By End-User Industry Energy and Power Mining Oil and gas Manufacturing Petrolium and Chemical Other End-User Industries
By Country United Sates Canada
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North America Safety Drives & Motors Market Research FAQs
What is the current NA Safety Drives and Motors Market size?
The NA Safety Drives and Motors Market is projected to register a CAGR of 6.20% during the forecast period (2024-2029)
Who are the key players in NA Safety Drives and Motors Market?
ABB Limited, Rockwell Automation, Inc., Siemens, Pilz GmbH & Co. KG and SIGMATEK GmbH & Co KG are the major companies operating in the NA Safety Drives and Motors Market.
What years does this NA Safety Drives and Motors Market cover?
The report covers the NA Safety Drives and Motors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the NA Safety Drives and Motors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
NA Safety Drives and Motors Industry Report
Statistics for the 2024 NA Safety Drives and Motors market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. NA Safety Drives and Motors analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
North America Safety Drives and Motors Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)
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