We are monitoring the impact of COVID-19 on Servo Motors and Drives Market Get in touch with us for detailed analysis Know More
Pulished Date April, 2021
ID: 9265
Share on
Share on

Global Servo Motors and Drives Market by Offering (Motor Component, Drive Component, Software & Service), Type (Motor and Drive), Voltage Range (High, Low and Medium), End-User (Automotive, Healthcare, Packaging, Oil & Gas, Semiconductors, Electronics, Chemicals and Others), and Geography - Forecast to 2026

Pulished: April, 2021
ID: 9265
Pages: 180

Servo Motors and Drives Market Size & Growth (2021 - 2026)

The global servo motors and drives market is expected to grow from US$ 12.61 billion in 2021 to US$ 21.22 billion by 2026, at a compound annual growth rate of about 6.3% between 2020 and 2025.

The servo drives help the motors to work in the system, such as robotics, automation, camera and conveyors. It receives the command from the control system in terms of signal, amplifies the message and then transmits the electric current to the servomotor to produce the movement corresponding to the power. These signals identify the speed, direction and position of the engine. The function of the sensor connected to the motor is to return to the state of the servo drive, then make a comparison between the state of the real engine and the motor control, such as precision, rapid reversal and performance.

Servo motors and drives have become one of the most advanced motion control devices in recent years because they include precise dimensional tolerance, superior design and high strength magnetic materials. With an increasing number of industries changing their approach to maintain a high level of precision, reduced labor costs and production waste and better production, the deployment of servo motors and drives continues to accelerate.

Recent developments:

  • Altra Industrial Motion Corp. launched stainless steel servo motors in April 2019, which are ideal for meat processing equipment because they use hygienic materials.
  • Parker Hannifin launched PSD servos in May 2019 that provide greater security and reliability to the customer. 
  • In November 2018, Altra Industrial Motion Corp. launched a new two-axis servo drives, which covered significant gaps in existing units on the market.
  • Siemens launched a closed IEC motor for industrial and construction applications in April 2019, to strengthen its position in the global market for servo motors and drives.
  • Mitsubishi Electric Corporation inaugurated a new office in Boston, United States, in June 2019 to increase its geographic presence in North America.

Market growth and trends:

Industry 4.0 Paving the way for the deployment of servo motors and drives -

The automation of industrial processes has resulted in high production, low cost, greater precision and less need for labor in recent years. The automation industry continues to grow by leaps and bounds, creating many applications for advanced instruments and machines. The trend of rapid growth in Industry 4.0 has created a flow of opportunities for market players, with a large number of industries continuing to replace conventional motors with servos and units to optimize operations and improve overall production. Many industries have switched to servo motors and drives to perform precise services directed by the input signals. This coincides with the fact that multi-core servo motors and drives promise higher accuracy, provide better feedback and control, which become a crucial foundation for Industry 4.0.

Growing robotics penetration in operations promises countless market gains -

With an increasing number of manufacturing industries focusing on the exploitation of advanced technologies and the adoption of automation, the demand for industrial robots remains unprecedented. The expanding use of industrial robots in a wide range of assembly, collection and manufacturing applications in the automotive, electrical/electronic, automotive, metal and other machining sectors continues to stimulate the deployment of servo motors and drives in several vertical industries. The adoption of servo motors and drives for robotic applications has increased in recent years and is attributed to sales valued at $ 5.7 billion in 2018. This is expected to increase further in the coming years, as conventional engines continue to lose their grip and are increasingly being replaced by faster, more efficient and more durable variants.

Search for lightweight materials in servo motors and drives -

With the growing demand for servo motors and drives for light applications, manufacturers are using iron alloys for manufacturing light servo motor gear systems to design efficient products. For light applications, such as products with remote assistance, such as toy airplanes or cars, light gear systems are being adopted to make the power/weight ratio efficient. In addition, several manufacturers also use plastic gears for low power applications, such as the manufacture of small robots and scan-type sensors.

Drivers and Market Restraints:

Factors such as the progress and rapid growth of automation, the adoption of international energy efficiency standards and the ease of use and integration of motion control components in engines and units are the main drivers of market growth. However, the lack of skilled labor and costs constitute a significant obstacle that can hinder the market growth. Nonetheless, emerging demands from developing regions and the increasing potential of variable speed drives offer lucrative opportunities for the market.

Market segmentation:

By offering:

• Motor components

• Drive components

• Software and services.

By type:

• Motor Type

• Drive Type

By voltage range:

• Low voltage

• Medium voltage

• High voltage

By end-user:

• Automotive

• Semiconductors

• Electronics

• Healthcare

• Chemicals

• Oil & Gas

• Packaging

• Others

Based on the end-user, the automotive segment held the most substantial chunk of the global servo motors and drives market in the previous years. The increasing need to improve vehicle efficiency and reduce overall costs have supported the growth of this sector in the international marketplace. The rapid transition towards digitalization and the adoption of AI, robotics and other technologies in the automobile sector are acting as supporting aspects for the development of the global servo motors and drives business.

Regional Analysis:

Geographically, North America servo motors and drives market accounted for a principal portion in the review period, which is likely to continue in the foreseen years. Also, the Asia Pacific servo motors and drives market is predicted to expand with a considerable growth rate due to the expanding automotive sector in the area.

Key Market Players:

The main players in the global servo motors and drives market are Yaskawa Electric Corp., Mitsubishi Electric Corp., Siemens AG, Schneider Electric, Rockwell Automation, Inc., ABB Ltd., Delta Electronics, Inc., Emerson Electric Co., FANUC Corp. and Bosch Rexroth AG. These players adopt collaboration, partnership and agreement as their key development strategies to increase servo market revenues and drive and develop new products to improve the product portfolio.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Servo Motors and Drives Market, By Offering                              

                                6.1.1 Motor Component              

                                6.1.2 Drive Component

                                6.1.3 Software & Service              

                                6.1.4 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.5 Y-o-Y Growth Rate Analysis              

                                6.1.6 Market Attractiveness Index           

                6.2 Servo Motors and Drives Market, By Type                     

                                6.2.1 Motor Type            

                                6.2.2 Drive Type              

                                6.2.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.4 Y-o-Y Growth Rate Analysis              

                                6.2.5 Market Attractiveness Index           

                6.3 Servo Motors and Drives Market, By Voltage Range                  

                                6.3.1 High           

                                6.3.2 Medium   

                                6.3.3 Low            

                                6.3.4 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.5 Y-o-Y Growth Rate Analysis              

                                6.3.6 Market Attractiveness Index           

                6.4 Servo Motors and Drives Market, By End-User                            

                                6.4.1 Automotive            

                                6.4.2 Healthcare              

                                6.4.3 Packaging

                                6.4.4 Chemicals

                                6.4.5 Oil & Gas 

                                6.4.6 Semiconductors   

                                6.4.7 Electronics              

                                6.4.8 Market Size Estimations & Forecasts (2019-2024)   

                                6.4.9 Y-o-Y Growth Rate Analysis              

                                6.4.10 Market Attractiveness Index        

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                    

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Offering             

                                7.2.3 By Type    

                                7.2.4 By Voltage Range 

                                7.2.5 By End-User           

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Offering             

                                7.3.3 By Type    

                                7.3.4 By Voltage Range 

                                7.3.5 By End-User           

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Offering             

                                7.4.3 By Type    

                                7.4.4 By Voltage Range 

                                7.4.5 By End-User           

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Offering             

                                7.5.3 By Type    

                                7.5.4 By Voltage Range 

                                7.5.5 By End-User           

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Offering             

                                7.6.3 By Type    

                                7.6.4 By Voltage Range 

                                7.6.5 By End-User           

8. Key Player Analysis                                    

                8.1 Mitsubishi Electric Corp                        

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Yaskawa Electric Corp.                           

                8.3 Siemens AG               

                8.4 Schneider Electric                    

                8.5 Rockwell Automation, Inc                     

                8.6 ABB Ltd                        

                8.7 Delta Electronics, Inc                              

                8.8 Emerson Electric Co.                               

                8.9 FANUC Corp.                             

                8.10 Bosch Rexroth AG                 

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of Type and Technology along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Servo Motors and Drives Market By Region, From 2021-2026 ( USD Billion )
  2. Global Servo Motors and Drives Market By Offering, From 2021-2026 ( USD Billion )
  3. Global Motor Component Market By Region, From 2021-2026 ( USD Billion )
  4. Global Drive Component Market By Region, From 2021-2026 ( USD Billion )
  5. Global Software & Service Market By Region, From 2021-2026 ( USD Billion )
  6. Global Servo Motors and Drives Market By Type, From 2021-2026 ( USD Billion )
  7. Global Motor Type Market By Region, From 2021-2026 ( USD Billion )
  8. Global Drive Type Market By Region, From 2021-2026 ( USD Billion )
  9. Global Servo Motors and Drives Market By Voltage Range, From 2021-2026 ( USD Billion )
  10. Global High Market By Region, From 2021-2026 ( USD Billion )
  11. Global Medium Market By Region, From 2021-2026 ( USD Billion )
  12. Global Low Market By Region, From 2021-2026 ( USD Billion )
  13. Global Servo Motors and Drives Market By End-User, From 2021-2026 ( USD Billion )
  14. Global Automotive Market By Region, From 2021-2026 ( USD Billion )
  15. Global Healthcare Market By Region, From 2021-2026 ( USD Billion )
  16. Global Packaging Market By Region, From 2021-2026 ( USD Billion )
  17. Global Chemicals Market By Region, From 2021-2026 ( USD Billion )
  18. Global Oil & Gas Market By Region, From 2021-2026 ( USD Billion )
  19. Global Semiconductors Market By Region, From 2021-2026 ( USD Billion )
  20. Global Electronics Market By Region, From 2021-2026 ( USD Billion )

Please wait. . . . Your request is being processed

LICENCE TYPE

$ 1234 4255

Clients
clients
clients
clients
clients
clients
clients
Click for Request Sample