Servo Motors and Drives Market:
Growth opportunities in the servo motors and drives market look promising over the next six years. This is mainly due to the growing advancement and adoption of automation across industries, increasing adoption of energy-efficient international standards, and integrating motion control components in motors and drives.
Servo Motors and Drives Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The increasing innovation and acquisition of automation across industries, incorporation of motion control components in drivers and motors, ease to use, and the surging adoption of energy-efficient international standards coupled with the complementary regulations imposed on energy efficiency are the key drivers stimulating the growth of the global servo motors and drivers’ market. The ongoing technological developments and execution of government policies like Minimum Energy Performance Standards (MEPS) across several countries and the augmented need for energy-efficient motor systems further fuel market growth.
The altering focus to sustain a high precision level, reduce labor cost and production wastage, expand the number of industries, and improve production output will raise the deployment of servo motors and drivers among industries and further accelerate market growth. Furthermore, industrial revolution 4.0 strengthened capabilities and encoder for adjustable speed drivers, creating enormous growth opportunities. However, the risk and uncertainty coupled with insufficient skilled professionals may curb the market growth.
Industry Segment Drivers
Based on the industry, the packaging segment is anticipated to expand at a higher CAGR during the forecast period. Expanding demand and using the accurate, faster machine and automated drives the adoption of servo motors and drives. Various applications in the packing industry, which include hybrid and electric injection molding machines, among others, are performed using servo motors and drivers.
Regional Drivers
Based on the regional coverage, Asia-pacific is predicted to witness a faster CAGR over the forecast period because of the escalating industrial activities and the rising demand for quick and accurate motors & drives for better productivity. The increasing demand for the low energy production process cost, integrated with the intensifying requirement of a software system, is bolstering the growth of the market. Furthermore, the growing production of machine tools and other sectors, including semiconductor and electronics related to automobiles or smartphones like electronics assembly, customized robot, and semiconductor machinery, for many applications are some other factors contributing to the market growth.
Servo Motors and Drives Market’s Leading Manufacturers:
- Kollmorgen Corporation
- Bosch Rexroth AG
- Emerson Electric Co.
- KINCO Automation Pvt. Ltd
- Schneider Electric SE
- Siemens AG
- Yaskawa Electric Corporation
- Adtech (SHENZHEN) Technology Co. Ltd
- FANUC Corporation
- Delta Electronics, Inc.
- Rockwell Automation Inc.
- ABB Group
- Mitsubishi Electric Corporation
Servo Motors and Drives Market Segmentation:
Segmentation by Offering:
- Hardware
- Sensors
- Controller Modules
- Encoders
- Electronic Amplifiers
- Other Components
- Software & Services
Segmentation by Type:
- Servo Motors
- AC Servo Motors
- DC Servo Motors
- Servo Drives
- AC Servo Drives
- DC Servo Drives
- Adjustable Speed Drives
Segmentation by Voltage Range:
- Low-Voltage Servo Motors and Drives (Up to 690v)
- Medium-Voltage Servo Motors and Drives (Above 690v)
Segmentation by Material of Construction:
- Stainless Steel Servo Motors and Drives
- Non-Stainless-Steel Servo Motors and Drives
Segmentation by Communication Protocol:
- Fieldbus
- Profibus
- Modbus
- CC-Link
- Devicenet
- Canopen
- Interbus
- Others
- Industrial Ethernet
- Profinet
- Ethernet/IP
- EtherCAT
- Powerlink
- Sercos III
- CC-Link IE
- Wireless
- WLAN
- Bluetooth
- WiMAX
- Wireless Hart
- Zigbee
- Others
Segmentation by Industry:
- Automotive & Transportation Industry
- Semiconductors & Electronics Industry
- Food Processing Industry
- Textile Industry
- Petrochemicals Industry
- Pharmaceutical & Healthcare Industry
- Packaging Industry
- Printing & Paper Industry
- Other Industries
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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