New York, United States , July 12, 2024 (GLOBE NEWSWIRE) -- The Global Servo Motors and Drives Market Size is to Grow from USD 12.9 Billion in 2023 to USD 21.5 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.24% during the projected period.
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Servo motors are highly accurate and effective rotary actuators that enable control over acceleration, velocity, and angular position. Their ability to regulate movements accurately and quickly makes them useful for various applications, including robots and manufacturing machinery. On the other hand, servo drives are electrical amplifiers that power and regulate servo motors. After receiving input signals typically voltage or current are transformed into the precise motions that the servo motor performs. As a result, servo motors and drives are used worldwide in the rubber and plastic, automotive, packaging, robotics, semiconductor, and electronics sectors. The market is growing as a result of the growing acceptance of automation and robots in many industries. By improving accuracy and adaptability, these technologies help the industrial sector increase production processes. Additionally, the market is expanding due to the expansion of online retailing and the rising need for automated logistics and storage solutions. Funding is a difficulty for small and medium-sized firms looking to invest in Industry 4.0 technology.
Browse key industry insights spread across 201 pages with 110 Market data tables and figures & charts from the report on the "Global Servo Motors and Drives Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Servo Motors and Servo Drives), By Voltage Range (Low Voltage, Medium Voltage, and High Voltage), By System (Linear System and Rotary System), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The servo motors segment is estimated to hold the largest share of the market over the projected timeframe.
On the basis of product type, the global servo motors and drives market is segmented into servo motors and servo drives. Among these, the servo motors segment is estimated to hold the largest share of the market over the projected timeframe. Direct current (DC) and alternating current (AC) variants of servo motors are widely available. Alternating current drives AC servo motors, which offer better torque and speed control. DC servo motors are perfect for robotics, conveyor systems, and operations requiring accuracy since they operate on DC power and perform better in terms of torque at low velocities.
The low voltage segment is expected to dominate the market over the projection timeframe.
On the basis of voltage range, the global servo motors and drives market is segmented into low voltage, medium voltage, and high voltage. Among these, the low voltage segment is expected to dominate the market over the projection timeframe. Because low voltage servo motors are designed to operate at lower voltages typically less than 600 volts, they are suitable for a range of applications requiring modest power.
The rotary system segment is estimated to hold the largest share of the market over the projected timeframe.
On the basis of system, the global servo motors and drives market is segmented into linear system and rotary system. Among these, the rotary system segment is estimated to hold the largest share of the market over the projected timeframe. They are highly versatile and widely used in tasks requiring accurate rotation, such as operating CNC machines, controlling the action of robotic arms, and supplying power to conveyor belts, among other things.
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Asia Pacific is expected to hold the largest share of the global servo motors and drives market over the forecast period.
Asia Pacific is expected to hold the largest share of the global servo motors and drives market over the forecast period. The manufacturing sectors in the Asia-Pacific region, which includes South Korea, China, Japan, and India, have rapidly expanded and industrialized. Servo motors are essential components of robotics, industrial automation, and manufacturing machines. Servo motors are more necessary as a result of the expansion of industries including consumer goods, automotive, electronics, and aerospace to boost output, effectiveness, and quality control. Servo motors are used extensively in the automotive industry for a variety of tasks, including robotic welding, handling, painting, and automation of assembly lines. Servo motors are used in automotive production facilities because of the increased demand for electric, commercial, and passenger cars in the Asia-Pacific region, which is a center for automotive manufacturing.
North America is predicted to grow at the fastest pace in the global servo motors and drives market during the projected timeframe. The rapidly increasing demand for energy, increased exploration and production activities, decreased reliance on coal reserves, and initiatives to increase the use of renewable energy sources like solar and wind power are the causes of this. This region is also the primary hub for the manufacturing of a wide range of goods in diverse sectors, such as electronics, and the growing demand for these goods worldwide will encourage the use of these technologies.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Servo Motors and Drives Market include ABB Ltd., Bosch Rexroth AG, Delta Electronics, Inc., Emerson Electric Co., Fanuc Corporation, Mitsubishi Electric Corporation, Nidec Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yaskawa Electric Corporation, Fuji Electric, Kollmorgen Corporation, Parker Hannifin Corporation, Omron Corporation, and others.
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Recent Developments
- In July 2022, to enable MECHATROLINK-4, a next-generation industrial network that aimed to achieve four times the transmission efficiency, Yaskawa introduced the JL-L000A communications ASIC. The controllers and servo packs could interact with each other over this interface.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Global Servo Motors and Drives Market based on the below-mentioned segments:
Global Servo Motors and Drives Market, By Product Type
- Servo Motors
- Servo Drives
Global Servo Motors and Drives Market, By Voltage Range
- Low Voltage
- Medium Voltage
- High Voltage
Global Servo Motors and Drives Market, By System
- Linear System
- Rotary System
Global Servo Motors and Drives Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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