New York, March 15, 2023 (GLOBE NEWSWIRE) -- The global Servo Motors and Drives Market is currently valued at around US$ 15.9 Billion, and is anticipated to progress at a CAGR of 8.1% to reach US$ 37.3 Billion by 2033. Servo motors and drives are a type of motor and control system used for precision motion control applications. Unlike regular motors, servo motors are designed to provide accurate and precise control over speed, position, and torque. They are often used in industrial applications where precise positioning and control are critical, such as in robotics, manufacturing, and automation.
A servo motor consists of a motor and a feedback mechanism that continuously monitors the motor's position and sends signals to a controller. The controller then adjusts the motor's speed and torque to achieve the desired position. The feedback mechanism can be either an encoder or a resolver, depending on the application requirements.
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Servo Motors and Drives Market Recent Developments:
- In February 2022, Rockwell Automation announced the release of its new Kinetix 5700 servo drive platform. The platform is designed to provide high-performance motion control for a wide range of industrial applications.
- In September 2021, Yaskawa Electric Corporation introduced a new series of servo drives, the Sigma-7Siec. The drives feature built-in safety functions and are compatible with a variety of communication protocols, making them ideal for use in collaborative robot applications.
- In June 2021, ABB announced the launch of its new ACS380 machinery drive. The drive is designed to provide precise speed and torque control for a wide range of applications, including servo motors.
Servo Motors and Drives Market Dynamics:
Drivers:
There has been a technological revolution in end-use sectors due to the recent creation of service robots for professional use. the aforementioned, the aforementioned, the aforementioned, the aforementioned, the aforementioned, the aforementioned, the aforementioned, the aforementioned, the... Also, as this technology develops, more people are choosing to use robots for hire (RaaS). As a result, it is anticipated that servo motor prospects will grow and dominate the global market throughout the course of the projection period.
Restraints:
Servo motors function better than conventional electric motors in terms of accuracy and operation. Servo motors move in response to input impulses. Inputting these signals requires the use of coding, a computer language. As a result, a trained worker is needed to attach the servo motor, drive, wire, and other minor working equipment to the servo system.
A servo drive may only be able to handle one servo motor for certain purposes, but it may be able to manage many servo motors for other applications. As a result, much more time and space will be needed for the setup and logic development necessary to meet the need. The market for servo motors and drives is anticipated to be hampered by the fact that servo motor systems take longer to install than other types of motor systems.
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Opportunities:
Motion controllers are increasingly required to measure speed, torque, and position in order to maintain the quality and efficiency of industrial operations as automated systems are employed more frequently in a variety of sectors and applications. Encoders ensure safe operations in machines and automated systems while minimising the amount of wires and connections required for control. Also, it promotes a decrease in manual labour, enhances quality, reduces repetitive work, and generally reduces expenses. The accuracy and dependability of operations in a production environment are enhanced by the integration of encoders into servo systems.
Challenges:
As automation grows, new technologies are being implemented into manufacturing plants. Finding qualified employees to operate the machinery and modify the facilities to accommodate technological improvements has become more challenging for the firms as a result. In order to assess the potential and challenges that manufacturers are currently facing as they adopt smart manufacturing in their facilities, Plex Systems, a Rockwell Automation Company, published a report on the "State of Smart Manufacturing" based on a global survey of 321 organisations. The poll indicates that a challenge preventing market expansion is a dearth of competent labour.
Segment Analysis:
The rotary systems segment is likely to be the largest over the course of the forecast period. Direct-drive rotational servo motors have eliminated the need for gearboxes, pulleys, and other mechanical components. As a result, there is improved control over the load that is directly coupled to the servo motor, shorter settling periods, and less energy usage. Rotary servo motors have advantages including high torque density, low energy consumption, and accurate feedback with high resolution. As a result, rotary servo motors are currently utilised in a wide range of sectors, including printing, food processing, healthcare, packaging, transportation, and the auto industry.
- By Product Type - Linear Servo Motor, Rotary Servo Motor, Positional Rotation Type, Continuous Rotation Type
- By Technology - Single Axis Servo System, Pulse Duty Servo Drive, Continuous Duty Servo Drives, Multi Axis Servo System
- By Application - Remotely Controlled Toys, Robotics, Electronic Devices, Medical Devices, Printing and Packaging Equipment, CNC Machines, Other Industrial Machinery and Equipment
- By Motor Configuration - AC Servo Motors, Induction Type, Synchronous Type, DC Servo Motors, Brushless DC Motors, Separately Excited DC Motors, Permanent Magnet DC Motor
- By Rated Power Capacity - 400−750 W, 750−1 KW, 1−5 KW, 5−15 KW, 15−50 KW, 50−100 KW
Regional Analysis:
Asia Pacific is anticipated to lead the servo motor market between 2022 and 2027, followed by Europe and North America. The market for servo motors and drives is undergoing developments in the realm of automation, notably in robotics, in countries like Japan, South Korea, and China. In other economies like India and Indonesia, the robot industry is still in its infancy. The demand for servo motors has increased as the robotics industry has risen since they are largely used for motion control reasons in robots for applications like pick-and-place operations. The adoption of smart manufacturing initiatives in the Asia Pacific area for a variety of applications promotes the development of servo motors and drives.
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Competitive Landscape
In the extremely competitive global servo motors and drives market, various manufacturers are competing for market domination due to growing demand and greater use of technology. The number of well-known corporations has grown as a result of their need to compete with competitor businesses in the market. The market for servo motors and drives will expand during the course of the anticipated period as a result of the numerous expansion methods adopted in recent years by industry participants, such as partnerships, acquisitions, and mergers.
Top Companies are: Siemens AG, Altra Industrial Motion Corp, Panasonic Corporation, Nidec Motor Corporation, Parker Hannifin Corporation, Delta Electronics Inc, Fuji Electric Co, Hitachi Ltd, Rozum Robotics Inc, Mitsubishi Electric Corporation, Schneider Electric, FANUC CORPORATION, Rockwell Automation, Inc, ABB, Applied Motion Products, Baumüller, Nippon Pulse America, Inc, YASKAWA ELECTRIC CORPORATION Valworx Inc.
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