New York, US, March 09, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Electronics business-consulting firm, has published a market intelligence and competitive landscape report on the “Servo Motors and Drives Market”. As per the report, which is a combination of primary and secondary data, the total market opportunity for the Servo Motors and Drives market was USD 5.08 Bn in 2021 and is expected to grow at 6 percent CAGR over the forecast period to reach USD 23.04 Bn by 2029.
| Market Size in 2021 | USD 14.45 Bn |
| Market Size in 2029 | USD 23.04 Bn |
| CAGR | 6 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 256 |
| No. of Tables | 130 |
| No. of Charts and Figures | 124 |
| Segment Covered | Servo Drives Type, Servo Motors Type, Technology, and Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Servo Motors and Drives Market Scope and Research Methodology
The report provides a comprehensive analysis of the Servo Motors and Drives Market by region, segment and competitive landscape. For understanding the global factors affecting the Servo Motors and Drives Market, the report presents drivers, challenges, restraints and opportunities prevailing in the Servo Motors and Drives Market. The report covers the current trends prevailing in the market along with estimations about future trends to help understand investors identify investment pockets and opportunities in the Servo Motors and Drives Market.
The report is equipped with a competitive analysis of the Servo Motors and Drives Market players. Key players and new entrants in the Servo Motors and Drives Market are listed together. The Servo Motors and Drives Market was analyzed by region, revenue, financial status, portfolio, technological advancement adopted, social, social media presence, and mergers and acquisitions. The new entrants in Servo Motors and Drives Market were researched for growth prospects and future business outlooks. The analysis acts as a guide for stakeholders, investors, market players and followers and new entrants with an overall view of the Servo Motors and Drives Market for formulating investment approaches and marketing tactics. Bottom-up approach was used to estimate the Servo Motors and Drives Market Size. Data was collected through primary and secondary method from the Servo Motors and Drives Market.
Servo Motors and Drives Market Overview
Servo drive is a basic element of a motion control system, which includes a servo motor, controller, and feedback element. DC drives are electric devices used in DC motors to control their speed, direction, horsepower, and torque to increase energy savings and reduce motor wear. Increasing energy prices and the depletion of fossil fuels are expected to fuel the Servo Motors and Drives market growth.
Servo Motors and Drives Market Dynamics
Increasing need for motion control systems in automation production plants of SMEs concentrating on features such as quality, speed, and flexibility in industrial machinery are expected to drive the Servo Motors and Drives market growth. Small and medium enterprises implement servo system as motion control systems to improve productivity of manufacturing facilities and cost efficiency of the productivity is expected to drive the Servo Motors and Drives market growth. Technological investment improves servo motor prospects and is expected to develop and drive the Servo Motors and Drives market growth.
Longer time for the installation of Servo Motors and Drives and huge investment in integrating new automation technologies into current infrastructure are the factors expected to restrain the Servo Motors and Drives market growth. Lack of skilled experts to handle complexities in automated manufacturing facilities is expected to hamper the Servo Motors and Drives market growth.
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Servo Motors and Drives Market Regional Insight
Asia-Pacific region is expected to hold the largest Servo Motors and Drives market share during the forecast period. Increasing number of oil and gas refineries for increasing need of energy and power generation in the region is expected to influence the Servo Motors and Drives market growth. Developing economies in Asia-Pacific such as China and India due to increasing population, industrialization, and urbanization for the need of power efficient voltages is expected to fuel the Servo Motors and Drives market growth. Demand for the goods and services across a variety of industry sectors in the region is expected to drive the Servo Motors and Drives market growth.
Servo Motors and Drives Market Segmentation
By Servo Drives Type:
- AC servo drives
- DC servo drives
- Adjustable speed
By Servo Motors Type:
- AC servo motors
- DC brushless
- Brushed DC
- Linear servo motors
By Technology:
- Single axis servo system
- Multiple axis servo system
By Application:
- Automotive
- Semiconductor and Electronics
- Material handling
- Food processing
- Healthcare
- Robotics
- Aerospace and Transportation
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Servo Motors and Drives Market Major Players include:
- Siemens AG
- Baldor Electric Company
- Yaskawa Electric Corporation
- Mitsubishi Electric Corporation
- Rockwell Automation Inc.
- Schneider Electric S.E
- Emerson Electric Co.
- Parker Hannifin Corporation
- Nidec Corporation
- ABB Ltd.
- Panasonic Corporation,
- Delta Electronics, Inc.
- Fuji Electric Co., Ltd.
- Hitachi Industrial Equipment Systems Co. Ltd
- Applied Motion Products, Inc.
- Altra Industrial Motion Corp.
- FANUC Corporation
- Kollmorgen Corp.
- Kollmorgan Corporation
- Regal Beloit Corp.
Key questions answered in the Servo Motors and Drives Market are:
- What is Servo Motors and Drives?
- What was the Servo Motors and Drives market size in 2021?
- What is the forecast period of Servo Motors and Drives market?
- What will be the Servo Motors and Drives market size by 2029?
- What is the growth rate of the Servo Motors and Drives Market?
- Which are the factors expected to drive the Servo Motors and Drives market growth?
- What factors are expected to hamper the Servo Motors and Drives market growth?
- Which segment dominated the Servo Motors and Drives market growth?
- What is the demand pattern for the Servo Motors and Drives market?
- Which region held the largest share in the Servo Motors and Drives market?
- Who are the key players in the Servo Motors and Drives market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Servo Drives Type, Servo Motors Type, Technology, and Application
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Engineering Equipment research firm, has also published the following reports:
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Brush DC motors Market: The total market size is expected to reach USD 7.92 Bn by 2029, at a CAGR of 5.5 percent during the forecast period. Increasing Pollution control rules and globally trend towards use of clean fuel is expected to fuel the market growth.
Electric AC Motors Market: The total market size was valued at USD 110.59 Bn in 2021 and is expected to grow at a CAGR of 7.5 percent from 2022 to 2029, reaching nearly USD 197.23 Bn. Rising demand for HVAC equipment and industrial machinery are expected to fuel the market growth.
Induction Motor Market: The total market size was valued at USD 14.76 Bn in 2021, and it is expected to reach USD 19.77 Bn by 2029, exhibiting a CAGR of 3.72 percent during the forecast period. Growing use of Electric Vehicles, Induction motors are the preferred choice for performance-oriented electric vehicles are expected to drive the market size.
DC Drives Market: The total market is expected to reach USD 7.92 Bn by 2029 with a CAGR of 5.7 percent, during the forecast period. Increased energy savings and reduced motor wear are expected to drive the market growth.
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