Servo Motors and Drives Market Industry Outlook, Growth, Trends And Forecast 2022-2027

According to a research report "Servo Motors and Drives Market by System (Linear, Rotary), Communication Type (Fieldbus, Industrial Ethernet, Wireless), Voltage (Low, Medium, High), Brake Technology, Material, Product Type, End-users, Offering and Region - Global Forecast to 2027" published by MarketsandMarkets, the servo motors and drives market is expected to grow at a CAGR of 5.7% during the forecast period, from an estimated USD 12.0 billion in 2022 to USD 15.8 billion in 2027. The rise in the adoption of feedback control systems in industrial operations has increased the demand for motion control systems, which is supported by trends such as Industry 4.0. The rising smart manufacturing initiatives for in various countries for improving reliability and productivity is supporting the growth for servo motors and drives.

Browse 174 market data Tables and 68 Figures spread through 250 Pages and in-depth TOC on "Servo Motors and Drives Market - Global Forecast to 2027"

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The permanent magnet segment, by brake technology, is expected to be the largest servo motors and drives market during the forecast period

The permanent magnet segment has the largest share of the global servo motors and drives market owing to the ease in the operations in the industries. The presence of permanent magnets helps these brakes offer high power density. This makes them useful for applications requiring almost zero backlashes, such as pick-and-place robots and medical applications. The operating principle of permanent magnet brakes helps them resist abrasion making them suitable for robots and handling equipment. These advantages are pushing the permanent magnet segment.

The wireless segment is anticipated to be the fastest-growing servo motors and drives market by communication type, during the forecast period

The wireless segment is expected to be the fastest-growing segment during the forecast period. Technologies such as Bluetooth and WLAN can be easily integrated into industrial systems for secure and reliable communication. These technologies offer benefits such as low setup costs, robustness, reliability, and less power consumption. These benefits offered by wireless communication type are propelling the market growth.

Europe is expected to be the second largest segment in the global servo motors and drives market during the forecast period

In this report, the servo motors and drives market has been analyzed for 5 regions, namely Asia Pacific, North America, Europe, Middle East & Africa, South America. Asia Pacific is expected to lead the market during the forecast period.

The servo motors and drives market in Several European countries align their manufacturing processes with the International Electrotechnical Commission (IEC) standards. The IEC develops international standards for adoption by companies in the field of electrotechnology. These standards ensure that the companies adopt such ways of manufacturing, which lead to the electrical energy optimization of their manufacturing processes. Energy-efficient servo motors and drives ensure that these companies pertain to IEC standards. The role of servo motors and drives in various advanced process control systems and robots to facilitate factory automation has been widely recognized throughout Europe in electronics, automotive, semiconductor, and other industries. Furthermore, various developments in the automotive industry, such as autonomous vehicles, hybrid vehicles, and unmanned ground vehicles (UGV), are expected to increase the demand for servo motors and drives.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the servo motors and drives market. These include including Yaskawa Electric (Japan), Mitsubishi Electric (Japan), Siemens (Germany), Rockwell Automation (US), and Schneider Electric (France). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Servo Motors and Drives Market 2020 Future Growth Explored in Latest Research Report by 2025

The global Servo Motors and Drives Market is projected to grow from USD 13.9 billion in 2020 to USD 16.8 billion by 2025; it is expected to grow at a CAGR of 4.0% from 2020 to 2025. The key factors fueling the growth of this market include the growing automation in factories, rising adoption of international standards for motor efficiency, development of user-friendly motion control libraries and packages for motors and drives, and increasing production of vehicles.

Software and services offering segment of servo motors and drives market is projected to grow at highest CAGR from 2020 to 2025

The software and services segment of the servo motors and drives market is projected to grow at the highest CAGR from 2020 to 2025. Servo software are useful for various purposes, such as installation setup, networking, motion controlling, and other configuration requirements. The software also have real-time diagnostic capabilities to detect the presence of any critical emergency in the system and inform the operator about it instantly. The development of independent networking software for motion control and process control machines to help in their seamless integration with servo motors and drives is expected to lead to an increase in the demand for software and services.

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Servo motors product type segment accounted for largest share of servo motors and drives market in 2019

In 2019, the servo motors segment accounted for the largest share of the servo motors and drives market, by product type. Servo motors are further segmented into AC servo motors and DC servo motors. AC servo motors provide the benefits of high torque per weight, efficiency, reliability, and low frequency noise, which has them favorable in applications across diverse end-user industries. AC motors such as synchronous AC servo motors with permanent magnet offer high level of accuracy and precision, making them suitable for equipment such as drill bits packaging machines, injection molding machines, and speed controllers machine used in the packaging industry. DC servo motors are commonly used in applications that require low power output as they are cost-effective in comparison with AC servo motors for such applications.

Low voltage segment accounted for largest share of the servo motors and drives market in 2019

In 2019, the low voltage segment accounted for the largest share of the servo motors and drives market, by voltage. Low-voltage servo motors and drives are compatible for use in mobile applications that demand high acceleration and braking processes, low noise, and high efficiency. Their compact size results in a smaller number of cables, which improves the overall diagnostics capabilities, making them highly useful for various control systems equipment in printing & paper, steel, cement, power, and petrochemicals industries.

Rotary system segment is projected to grow at a higher CAGR from 2020 to 2025

The rotary segment of servo motors and drives market, by system, is projected to grow at a higher CAGR during forecast period. Rotary servo motors allow interaction between all magnets and the windings in all positions. This results in low installation costs of the rotary servo motor in comparison with linear servo motor. Rotary servo motors offer benefits such as high-resolution precision feedback, low energy consumption, high response, and high torque density. This makes rotary servo motors useful for applications in packaging, healthcare, and automotive & transportation industries. Advancements in rotary system-based servo motors and drives, including the introduction of stainless steel, food-grade, ingression protection (IP)-grade, and hygienic servo motors, have led to an increasing demand from industries such as food processing, pharmaceuticals, and petrochemicals.

Permanent magnet segment projected to grow at highest CAGR from 2020 to 2025

The permanent magnet brake technology is projected to grow at the highest CAGR from 2020 to 2025. Permanent magnet brakes are small and have a low weight, resulting in large torque per size density. This has made them highly useful for applications requiring almost zero backlash, such as pick-and-place robots and other applications in the pharmaceuticals & healthcare industry. The increased use of permanent magnet brakes in industries such as automotive & transportation, pharmaceuticals & healthcare, textile, and packaging has propelled their market growth.

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Industrial Ethernet communication protocol segment projected to grow at highest CAGR from 2020 to 2025

Based on communication protocol, the industrial Ethernet segment is projected to grow at the highest CAGR during the forecast period. Protocols such as EtherCAT, Ethernet/IP, PROFINET, POWERLINK, SERCOS III, and CC-Link IE, that provide real-time control are based on the industrial Ethernet architecture. Industrial Ethernet is mostly suited for industrial environments with harsh conditions where the factory components and equipment are exposed to extreme temperatures, humidity, and vibration. Industrial Ethernet offers various benefits, such as higher speed, increased connection distance, and the ability to connect more nodes than other network protocols. These benefits make industrial Ethernet highly suitable for industrial applications.

Other materials segment accounted for largest share of servo motors and drives market in 2019

In 2019, the others segment of the servo motors and drives market, by material of construction, accounted for the largest share of the market. Other materials used in the design and manufacturing of servo motors and drives include carbon steel and aluminum. The low cost of the servo motors and drives built using these materials has led to their market growth. Servo motors and drives constructed from non-stainless steel material have the ability to withstand dust, high-pressure washdown water jets, and corrosion prevention. This has led to the increased adoption of servo motors and drives with aluminum housing, which is Teflon-coated and hard coat anodized,in various industries, such as packaging, food processing, pharmaceuticals & healthcare, and petrochemicals.

Automotive & transportation industry segment accounted for largest share of servo motors and drives market in 2019

The automotive & transportation industry accounted for the largest share of the servo motors and drives market in 2019. Servo motors and drives are used in various automotive control systems, such as fuel injection systems, anti-lock braking systems, cruise control systems, and pedal systems, to control vehicle speed. Motion control systems having servo mechanisms also find use in manufacturing processes, such as auto body painting, vehicle assembling, material handling, automated guided vehicle (AGV) chassis marriage systems, and assembly presses. Servo motors and drives are central to the various reforms aimed at enhancing the speed, accuracy, and productivity of manufacturing in the transportation industry. Servo systems improve the logistics and supply chain processes through the use of robotics and various control systems, thereby, driving their demand in transportation industry.

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APAC is projected to hold largest share of servo motors and drives market in 2025

APAC is expected to hold the largest share of the servo motors and drives market in 2025. Massive investments in industrial automation to enhance the operations of the manufacturing industry are driving the growth of the servo motors and drives market in the region. This has led to growing industrialization along with the rising use of robots to achieve high productivity and efficiency in industrial applications. the high demand for consumer electronics including smartphones, home appliances, smart home devices, and wearable devices have resulted in the adoption of flexible flow line manufacturing processes, including the use of robot arms, which is expected to further drive the demand for servo motors and drives in the region. The demand for energy-efficient automobiles such as electric vehicles and hybrid vehicles owing to the formulation of environment norms by governments of different countries has also led to the high adoption of DC servo motors in the APAC region.

Yaskawa Electric (Japan), Siemens AG (Germany), Mitsubishi Electric (Japan), Schneider Electric (France), Rockwell Automation (US), ABB (Switzerland), Nidec Corporation (Japan), Fuji Electric (Japan), Delta Electronics (Taiwan), and FANUC Corporation (Japan) are the key players operating in the servo motors and drives market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, and acquisitions to increase their market share.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com