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(Transportation-News.com, July 11, 2024 ) The Global Servo Motors and Drives Market Size Was Valued at USD 15.21 Billion in 2023 and is Projected to Reach USD 25.33 Billion by 2032, Growing at a CAGR of 5.83 % From 2024-2032.
Pune, 10, July 2024:
The Global Servo Motors and Drives Market Size Was Valued at USD 15.21 Billion in 2023 and is Projected to Reach USD 25.33 Billion by 2032, Growing at a CAGR of 5.83 % From 2024-2032.
Servo motors, whether AC, DC, or linear, feature built-in positional feedback, essential for closed-loop motion control systems that manage torque, speed, and angular position precisely. Utilizing permanent magnets, these motors enable variations in voltage and current between windings. Servo drives, which adjust deviations from commanded statuses, ensure precise motor positioning.
The push towards digital transformation, particularly under the "Industry 4.0" paradigm, is boosting the adoption of automation, robotics, and advanced technologies like AI and IoT in industrial setups. This trend is driving the servo motor market, as these motors enhance the efficiency and precision of modern industrial machinery and robots. The increasing use of industrial robots, such as robotic welding arms and autonomous vehicle steering systems, is expected to further propel the demand for servo motors.
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Servo Motors and Drives Market Dynamics
The surge in demand for motion control systems in Small and Medium Enterprises (SMEs) automated production facilities is fueling growth in the servo motors and drives market. SMEs, comprising about 90% of global businesses, are prioritizing product quality, production speed, and manufacturing flexibility to stay competitive. Servo systems are pivotal in achieving these goals by enabling precise machinery control, boosting productivity, and reducing costs in industries like automotive, packaging, and textiles.
The decreasing costs of robot technologies are also pivotal, with projections suggesting a 76% price reduction by 2025 from 2010, removing barriers to SME adoption. Meanwhile, the increasing need for feedback control in servo systems is driving demand for encoders, which streamline installations, enhance safety, and lower operational costs across diverse industrial sectors. This trend underscores significant growth prospects in the servo motors and drives market.
Servo Motors and Drives Market Regional Insights
Asia Pacific is composed to dominate the market in the coming years, driven by increased demand for energy and the proliferation of oil and gas refineries. The region's industrialization, urbanization, and population growth, especially in countries like China and India, are boosting the need for efficient voltage systems to support these developments. The servo motors and drives market is set to grow significantly as various industries seek automation and precise control systems. China, in particular, has seen notable growth in its servo motor market, fueled by robust industrial infrastructure and government initiatives promoting technological advancement. This growth underscores China's pivotal role in the global automation sector, where servo motors are crucial for enhancing operational efficiency and accuracy across manufacturing, robotics, and automotive industries.
Servo Motors and Drives Market Segment Analysis
By Type
AC Servo Motor
DC Brush Less Servo Motor
Brushed DC servo Motor
Linear Servo Motor
The growth of AC motors is expected to be driven significantly by the increasing popularity of electric vehicles, where their lighter weight and smaller size offer advantages. AC motors are also widely favored across industries such as manufacturing, HVAC, and household appliances due to their high efficiency and cost-effectiveness. They are known for their low maintenance costs, making them attractive for businesses aiming to reduce operational expenses. As demand rises for energy-saving technologies and electric vehicles, the AC motor market is projected to expand notably in the coming years. Their versatility and superior efficiency position AC motors as a preferred choice in various industrial and commercial applications, reinforcing their importance in the evolving technological landscape.
By Drive
AC Servo Drive
DC Servo Drive
Adjustable Servo Drive
By Voltage Range
Low-Voltage
Medium Voltage
High Voltage
By End-user Industry
Automotive
Oil and Gas
Healthcare
Packaging
Semiconductor & Electronics
Chemicals & Petrochemicals
GLOBAL SERVO MOTORS AND DRIVES MARKET BY REGION
NORTH AMERICA
USA
Canada
Mexico
EASTERN EUROPE
Russia
Bulgaria
The Czech Republic
Hungary
Poland
Romania
Rest Of Eastern Europe
WESTERN EUROPE
Germany
United Kingdom
France
The Netherlands
Italy
Spain
Rest Of Western Europe
ASIA PACIFIC
China
India
Japan
South Korea
Malaysia
Thailand
Vietnam
The Philippines
Australia
New-Zealand
Rest Of APAC
MIDDLE EAST & AFRICA
Turkey
Bahrain
Kuwait
Saudi Arabia
Qatar
UAE
Israel
South Africa
SOUTH AMERICA
Brazil
Argentina
Rest of South America
Servo Motors and Drives Key Competitors include:
ABB (Switzerland)
ADTECH (SHENZHEN)
AMETEK (US)
Bosch Rexroth AG (Germany)
Delta Electronics (Taiwan)
Emerson Electric Co. (US)
FANUC (Japan)
Fuji Electric (Japan)
Kollmorgen Corporation (US)
LENZE (Germany)
Mitsubishi Electric (Japan)
NIDEC (Japan)
Omron Corporation (OMRON) (US), and other major players.
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Key questions answered in the Servo Motors and Drives Market report are:
Which market segment dominated the global Servo Motors and Drives market in 2023?
What are the current global trends in the Servo Motors and Drives market?
What future industry applications and trends are emerging in the Servo Motors and Drives market?
What growth strategies are companies adopting to expand their presence in the Servo Motors and Drives market?
Who are the leading companies in the Servo Motors and Drives market, and what are their product portfolios?
What are the primary challenges that the Servo Motors and Drives market may face in the future?
Which region had the largest share of the Servo Motors and Drives market in 2023?
How is the regulatory environment influencing the Servo Motors and Drives market?
Key Offerings:
Market Size, Share, Size & Forecast by Different Segments | 2024−2032
Servo Motors and Drives Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Trend Analysis
Pestle Analysis
Porter’s Five Forces Analysis
Industry Value Chain Analysis
Ecosystem
Regulatory Landscape
Price Trend Analysis
Patent Analysis
Technology Evolution
Investment Pockets
Servo Motors and Drives Market Segmentation
Competitive Landscape – Profiles of selected key players in a strategic perspective
Competitive landscape – Competitive Benchmarking, Servo Motors and Drives Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions
Analyst Viewpoint and Conclusion
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