Industrial Automation Spares Market is predicted to reach USD 18.24 billion at a CAGR of 6.00% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Industrial Automation Spares Market”.

The Industrial Automation Spares market is estimated to register a CAGR of 6.00% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Industrial Automation Spares market— ABB Limited (Switzerland), Siemens AG (Germany), Honeywell International, Inc. (U.S.), Rockwell Automation (U.S.), Baumer Ltd (Switzerland), Encoder Products Company, Inc (U.S.), Fuji Electric Co. Ltd. (Japan), Delta Electronics, Inc (Taiwan), Emerson Electric (U.S.), Omron Corporation (Japan), Panasonic Corporation (Japan), Baumuller Holding GmbH & Co. KG (Germany), Balluff GmbH (Germany), Sensata Technologies, Inc (U.S.), Festo Corporation (Germany), Parker-Hannifin Corporation (U.S.), SMC Corporation (Japan), DESTACO (U.S.), SWISS Automation, Inc (U.S.), and Mitsubishi Electric Corporation (Japan)

Market Highlights

The global Industrial Automation Spares market is accounted to register a CAGR of 6.00% during the forecast period and is estimated to reach USD 18.24 billion by 2032.

The global industrial automation spares market is undergoing dynamic transformations driven by the increasing adoption of automation technologies across various industries. With a growing emphasis on operational efficiency, manufacturers are investing in industrial automation solutions, influencing the demand for associated spares and components. The integration of Industry 4.0 concepts, such as the Internet of Things (IoT) and artificial intelligence, is further propelling market dynamics. The need for quick and efficient replacement of spare parts to minimize downtime in automated systems is a critical factor shaping the market. Additionally, as the industrial landscape becomes more complex, the demand for sophisticated and technologically advanced automation spares is on the rise. Ongoing developments in robotics, sensors, and control systems are contributing to the evolution of the market, while factors like regulatory compliance and cybersecurity concerns are influencing decision-making among industry stakeholders. The Global Industrial Automation Spares market is marked by a continual quest for innovation and adaptability to stay abreast of technological advancements and meet the evolving needs of automated manufacturing processes.

Segment Analysis

The global Industrial Automation Spares market has been segmented based on Type and End User.

Based on type, the global Industrial Automation Spares market has been segmented into Electrical components, electronic components, and mechanical components. The electronic component segment was expected to hold the largest market share in 2022. This is attributed With the proliferation of advanced automation systems that rely on intricate electronic circuits, the need for precise and technologically advanced spare parts becomes imperative to maintain the efficiency and accuracy of automated processes.

Based on end user, the global Industrial Automation Spares market has been segmented into oil & gas, automotive, F&B, semiconductor & electronics, and power. The semiconductors & electronics segment was anticipated to hold the major market share in 2022. This can be credited to the global semiconductor and electronics industry demands high-precision automation to meet the exacting standards of manufacturing electronic components.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Industrial Automation Spares Market Research Report

Regional Analysis

The global Industrial Automation Spares market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Industrial Automation Spares market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Industrial Automation Spares market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World’s Industrial Automation Spares market comprises of Middle East, Africa, and Latin America.

In North America, the Industrial Automation Spares market is driven by a robust manufacturing sector, particularly in the United States. The region's emphasis on technological advancements and early adoption of automation solutions in industries such as automotive, aerospace, and electronics contribute to a significant demand for automation spares. The presence of established market players and a focus on research and development activities further stimulate market growth. However, factors such as stringent regulatory requirements and a mature market landscape pose challenges for new entrants.

Moreover, the Europe market has been persistently growing over the forecast period. European nations are growing significantly with Germany at the forefront of automation adoption. The region's commitment to sustainable manufacturing and Industry 4.0 initiatives fuels the demand for advanced automation spares. The European market is characterized by a collaborative approach between industries and technology providers, fostering innovation.  

Additionally, proactive government initiatives in countries such as China, Japan, and South Korea will boost market growth in Asia Pacific region. Increasing investments in smart manufacturing and the adoption of automation to enhance productivity propel market growth. The presence of a large number of manufacturing units and the continuous expansion of industries like electronics, automotive, and machinery contribute to the substantial demand for automation spares in the region.

Furthermore, the rest of the world's Industrial Automation Spares market is divided into the Middle East, Africa, and Latin America. The demand for automation spares is influenced by factors like government initiatives, foreign investments, and the overall industrial development in these regions. Market players need to navigate diverse regulatory environments and socio-economic factors when operating in the Rest of the World.

Key Findings of the Study

• The global Industrial Automation Spares market is expected to reach USD XX billion by 2032, at a CAGR of 6.00% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the presence of a large number of manufacturing units and the continuous expansion of industries like electronics, automotive, and machinery contribute to the substantial demand for automation spares in the region.


• Based on type, the electronic components segment was attributed to holding the largest market in 2022, with approximately more than half of the market share.


• ABB Limited (Switzerland), Siemens AG (Germany), Honeywell International, Inc. (U.S.), Rockwell Automation (U.S.), Baumer Ltd (Switzerland), Encoder Products Company, Inc (U.S.), Fuji Electric Co. Ltd. (Japan), Delta Electronics, Inc (Taiwan), Emerson Electric (U.S.), Omron Corporation (Japan), Panasonic Corporation (Japan), Baumuller Holding GmbH & Co. KG (Germany), Balluff GmbH (Germany), Sensata Technologies, Inc (U.S.), Festo Corporation (Germany), Parker-Hannifin Corporation (U.S.), SMC Corporation (Japan), DESTACO (U.S.), SWISS Automation, Inc (U.S.), and Mitsubishi Electric Corporation (Japan)