New York, NY, July 05, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Servo Motors and Drives Market Share, Size, Trends, Industry Analysis Report, By System Type (Linear and Rotary); By Voltage (Low Voltage, Medium Voltage, High Voltage); By Application; By Region; Segment Forecast, 2023 - 2032” in its research database.
“As per the latest research analysis, the global servo motors and drives market size/share will be valued at roughly USD 14.45 Billion in 2022, and its revenue is projected to reach about USD 26.54 Billion By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 6.3% between 2023 and 2032.”
What are Servo Motors and Drives? How Big is Servo Motors and Drives Market Size & Share?
- Overview
As technology advances, robots and other autonomous applications in our day-to-day lives increase. A servo motor is a self-contained electrical device that precisely and efficiently moves machine parts. Simply put, a servo motor is a BLDC motor with a sensor for positioning feedback. And servo motors and drives are essential in motion control systems that control machinery and equipment's speed, position, and acceleration.
Servo motors and drives are crucial components for many sectors that need precise control over their operations since they jointly increase precision and dependability in motion control systems. The production and distribution of parts for motion control systems are done by the servo motors and drives sector. These parts are used in many applications, including robotics, aerospace, industrial automation, and medical equipment, expanding the servo motors and drives market demand.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
- Yaskawa Electric
- Mitsubishi Japan
- Siemens
- Rockwell Automation
- Delta Electronics
- Kollmorgen Corporation
- Parker Hannifin Corporation
- Omron Corporation
- SEW Eurodrive
- Rozum Robotics
- ADTECH Technology
- Fuji Electric
- Schneider Electric
- Nidec Motor Corporation
- Hitachi Ltd.
- Fanuc Corporation
- ABB
- Applied Motor Products
- Nippon Pulse America
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Prominent Growth Driving Factors
- Growing need for motion control systems: The market for servo motors and drives is predicted to develop over the next few years due to the increased need for motion control systems, particularly in automated production plants across small and medium firms. These systems help to increase the productivity of manufacturing facilities.
- Increased government involvement: Government efforts to achieve digitalization in various developing nations worldwide are becoming more intense, and investments in building construction are expanding. These factors will boost the servo motors and drives market growth.
- Rise in automated systems: Increased demand for measuring speed, torque, and position to maintain the quality and efficiency of different procedures, along with an increase in the use of encoders to cut down on the number of connections and wires required, are two factors that are further anticipated to create significant growth opportunities for the market.
Top Findings of the Report
- The market for servos is expanding due to their expanded productivity, dependability, and machine throughput, and their superior ability to receive inputs from controllers and computer sensors, making them an excellent choice for performing precise tasks like advanced automated manufacturing, CNC machining, and robotics.
- The servo motors and drives market segmentation is mainly based on voltage, system type, region, and application.
- The Asia Pacific dominated the market with the highest revenue share in 2022.
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Top Trends Influencing the Market
- High investments in R&D activities: Huge growth opportunities are also anticipated to arise shortly due to the growing acceptance of energy-efficient international standards, the integration of motor control components into motors, and the ongoing development of automation technology through significant investment in R&D measures.
- The desire for high-speed motor systems: The growing demand for high-speed and accurate motor system operations in the sector, technological advancement, and various regulatory tax rebate policies are all expected to impact the servo motors and drives market size greatly.
- Increasing prevalence and benefits: The market also benefits from the increasing use of servo motors and drives due to their many advantages over conventional DC motors and stepper motors, including built-in feedback systems and high revolutions per minute.
Segmental Analysis
- Rotary Sector Holds the Significant Market Share
The rotary sector is anticipated to account for a sizable portion of servo motors and drives market share during the anticipated period. Because gearboxes, pulleys, and other mechanical components are no longer necessary due to the rapid development of direct-drive rotary servo motors worldwide, settling times are quicker, the load is better controlled, and the energy consumption is lower.
Moreover, rotary motors have become quite popular in various industries, including healthcare, food processing, packaging, printing, textile, automotive, and transportation, because of their many advantages, including low energy consumption, high-resolution accurate feedback, and a resulting torque density.
- Low Voltage Sector Witnesses Highest Growth
Due to its high compatibility with mobile applications that demand better efficiency, high acceleration, breaking processes, and low noise, the low voltage sector will likely grow significantly throughout the forecast period. Additionally, the industry is growing because of its simplicity of use, reliability compared to competing products, and low setup and maintenance costs.
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Servo Motors and Drives Market: Report Scope & Segmentation
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 26.54 Billion |
| Market size value in 2023 | USD 15.34 Billion |
| Expected CAGR Growth | 6.3% from 2023– 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Yaskawa Electric, Mitsubishi Japan, Siemens, Rockwell Automation, Delta Electronics, Kollmorgen Corporation, Parker Hannifin Corporation, Omron Corporation, SEW Eurodrive, Rozum Robotics Inc., ADTECH Technology Co. Ltd., Fuji Electric, Schneider Electric, Nidec Motor Corporation, Hitachi Ltd., Fanuc Corporation, ABB, Applied Motor Products, and Nippon Pulse America Inc. |
| Segments Covered | By System Type, By Voltage, By Application, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographical Overview
Asia Pacific: Due to the rapidly expanding development activities, particularly in the robotics field, in nations like China, Japan, Malaysia, and South Korea, as well as the growing adoption of various smart manufacturing initiatives for a variety of applications, the Asia Pacific region dominated the servo motors and drives market with the highest revenue share in 2022 and is projected to maintain its dominance throughout the forecast period.
North America: The servo motors and drives market in North America is predicted to experience the fastest growth throughout the forecast period, mostly due to the increase in manufacturing processes, which are becoming more automated and demanding accuracy and repeatability. The fast-growing energy demand, escalating production and development operations, and decreasing reliance on different coal deposits are all expected to affect regional market growth positively.
Browse the Detail Report “Servo Motors and Drives Market Share, Size, Trends, Industry Analysis Report, By System Type (Linear and Rotary); By Voltage (Low Voltage, Medium Voltage, High Voltage); By Application; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://polarismarketresearch.com/industry-analysis/servo-motors-and-drives-market
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Recent Developments
- Renesas Electronics debuted its new Renesas RZ/T2M motor microprocessor units in June 2022. These devices are highly specialized for applications such as AC servo drives and industrial robots, which include quick and real-time motor control capabilities.
- Yaskawa Electric presented its newest AC servo drives, the "-X Series," in March 2021. These drives were created to utilize the features and performance of sensor data efficiently. It has the best motion performance and digital data in the business.
The Report Answers Questions Such As
- What is the current size of the servo motors and drives market?
- Which region will lead the global market?
- What is the study period of this market?
- Which factors are driving the servo motors and drives market growth?
- Who are the key players in the industry?
- Which is the dominating segment in the market?
Polaris Market Research has segmented the servo motors and drives market report based on system type, voltage application, and region:
By System Type Outlook
- Linear
- Rotary
By Voltage Outlook
- Low Voltage
- Medium Voltage
- High Voltage
By Application Outlook
- Automotive & Transportation
- Semiconductor & Electronics
- Food Processing
- Textile
- Petrochemical
- Pharmaceutical and Healthcare
- Packaging
- Robotics
- Printing & Paper
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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