Servo Motors and Drives Market size to grow at a CAGR of 5.16% from 2022 to 2027, APAC to Occupy 60% Market Share, Technavio
NEW YORK, Feb. 20, 2024 -- Technavio has been monitoring the servo motors and drives market, and it is expected to grow by USD 3,958.7 million from 2022 to 2027. As per the latest report, the market will progress at a CAGR of 5.16% during the forecast period. APAC contributes 60% to global market growth, driven by burgeoning aerospace, defense, food, beverages, and automotive sectors. Notably, APAC's aerospace and defense industry is witnessing significant expansion, fueled by China's heightened focus on military capabilities and commercial aircraft manufacturing. India is also fostering growth through initiatives like attracting foreign direct investment (FDI), exemplified by Karnataka and Tamil Nadu's multi-billion-dollar investments in aerospace and defense manufacturing. These regional developments underscore APAC's pivotal role in driving market growth during the forecast period. Click & get Latest Sample Report within minutes!
This report aid business leaders with an up-to-date analysis that includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. Technological advances and new product developments is an emerging trend in the market during the forecast period. Servomotors and drives are used in a wide variety of industrial applications. Faced with the need for servo motors in new application areas, suppliers offer advanced servo systems, including controllers, servo motors, and servo drives with enhanced features and special designs. Vendors offer robust engines that meet the extreme operating requirements of process industries such as oil and gas, and chemical and petrochemicals.
Increasing demand for integrated servo motors and brushless motors is one of the key Drivers
Servo and brushless motors are used in a variety of applications including robotics, conveyor belts, compressors, and material handling equipment in process and discrete industries. The extensive use of precision motors in harsh environmental conditions in industrial processes in the oil and gas, power, chemical and petrochemical, and pharmaceutical industries has increased the demand for servo motors and brushless motors.
- Intense competition from low-cost Asian manufacturers is a major challenge hindering market growth.
The market is segmented as below:
- Product
- DC Servo Motors/drives
- AC Servo Motors/drives
- Type
- Rotary System
- Linear System
- Geography
- APAC
- Europe
- North America
- Middle East And Africa
- South America
The market share growth by the DC servo motors/drives segment will be significant for the market growth during the forecast period. Due to the development of renewable energy, the construction of power distribution networks that distribute direct current is progressing. Most global grid solution providers such as ABB Ltd. (ABB) provide high-voltage DC systems for transmission and distribution (T&D) over the grid. Therefore, the demand for medium voltage DC servo motors is expected to increase during the forecast period. Thus, such factors influence the growth of the segment, which, in turn, drives market growth. To learn more about the global trends impacting the future of market research, download a sample report!
Vendor Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. We provide a detailed analysis of around 25 vendors operating in the Servo Motors and Drives Market, including some of the vendors such as Danfoss AS, Delta Electronics Inc., Emerson Electric Co., FANUC Corp., Fuji Electric Co. Ltd., Kollmorgen Corp., Mitsubishi Electric Corp., Nidec Corp., OMRON Corp., Regal Rexnord Corp., Robert Bosch GmbH, Rockwell Automation Inc., Rozum Robotics, Schneider Electric SE, SEW EURODRIVE GmbH and Co KG, Siemens AG, Yaskawa Electric Corp., ABB Ltd., ADTECH SHENZHEN TECHNOLOGY CO. LTD., and Parker Hannifin Corp. Backed with competitive intelligence and benchmarking, our research reports on the Servo Motors and Drives Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
- Danfoss AS - The company offers servo motors and drives that are used for diverse industrial applications such as packaging, textile, printing, food and beverage, electronics and electrical.
- Emerson Electric Co. - The company offers servo motors and drives that offer great benefits in diverse applications, such as turntables, labeling, capping, and packaging of food and pharmaceuticals.
- FANUC Corp. - The company offers servo motors and drives that are provided with a superior digital signal processor (DSP) which represents a high-speed performance of the control circuit loop.
Rapid growth due to the increasing demand for linear motors and closed-loop motion control systems. These systems offer precise angular position, speed, and torque control, thanks to advancements in permanent magnets and servo drive technology. With the rising need for automatic devices in various industries, servo motors and drives play a crucial role in maintaining optimal voltage and current levels across windings. They are integral to machine tool operations, offering efficient transmission through gears, belts, and pulleys, while addressing wear and failure problems. Enhanced productivity and reliability are driving factors in the adoption of servo motors and drives across diverse sectors.
Surge due to the escalating demand for advanced solutions in the industrial sector. With machine throughput becoming a pivotal metric, robotics and automated equipment equipped with energy-efficient solutions are gaining traction. This shift is driven by industrialization efforts in emerging regions, where consumer awareness and environmental concerns are on the rise. Servo motors, such as stepper motors and brushless synchronous motors, convert electrical energy into precise mechanical energy, enabling precise rotation and motor position control. Integrated with feedback mechanisms and dynamics, these electromechanical devices optimize industrial processes while minimizing resource consumption.
Challenges amidst a global landscape shaped by the pandemic and trade restrictions. Manufacturing recession and supply chain disruptions ripple across industries like automotive sectors and consumer electronics, straining sales and application of servo equipment. Critical components like semiconductors face shortages, exacerbating nightmares for manufacturers reliant on intricate supply chains. China's role in both supply and demand adds complexity, with the Republic of China's government policies influencing trade dynamics. Lockdowns and factory closures further compound issues, impacting the availability of steel, raw materials, packaging materials, and plant supplies. Amidst these challenges, the servo motors and drives market navigates through turbulent waters, adapting to the evolving landscape while striving for resilience and innovation.
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SOURCE Infiniti Research, Inc.