Global Market for Servo Motors and Drives Market is Anticipated to grow at a Significant Pace i.e., USD 20.12 Billion during the Forecast Period 2021-2027

Published Date: Jul, 2021

The global servo motors and drives market is expected to witness a CAGR of 6.1% during the forecast period 2021-2027. Servo motors and drives have emerged as one of the most developed motion control devices as they integrate precise dimension tolerance, developed design methods, and high-force magnet materials. The growing automation in factories and other industrial units along with the widespread adoption of robotics across industries are the key factors driving the growth of the servo motors and drives market. The technological development and implementation of government policies such as Minimum Energy Performance Standards (MEPS), in various countries, has given rise to energy-efficient motor systems, fuelling the growth of the servo motors and drives market. The rise in demand for energy-efficient motors resulted in shifting from standard energy-efficient motors to premium energy-efficient motors. This turnaround is directly driving the revenue growth for servo motors and drives manufacturers.

The COVID-19 pandemic is a precursor for industrialists because of the manufacturing recession. There is a substantial slowdown in the sales of servo motors and drives in countries as the supply chain is disrupted across various applications such as equipment, packaging materials, ingredients, and other plant supplies. This delay is due to factory closures and post lockdown have to work with a reduced workforce.

Mitsubishi Electric announced the acquisition of Akribis System Pte Limited, a Singapore-based manufacturer of linear servo motor and linear stages. This buyout aims to strengthen the factory automation products portfolio of Mitsubishi Electric and increase its global market share.

Browse 103 market data Tables and 60 Figures spread through 220 Pages and in-depth TOC on " Servo Motors and Drives Market by Offerings (Hardware, Software, and Services), by Product type (Servo Motors and Servo Drives), by System (Linear System and Rotary System), by Voltage (Low Voltage, Medium Voltage, and High Voltage), by Brake Technology (Spring, Permanent Magnet, and Others), by Communication Protocol (Fieldbus, Industrial Ethernet, and Wireless), by Material Construction (Stainless Steel and Non-Stainless Steel), by End-User Industry (Automotive and Transportation, Semiconductor and Electronics, Food Processing, Textiles, Pharmaceuticals & Healthcare, Packaging, Printing & Paper, Oil & Gas, Chemicals & Petrochemicals, and Others), and Region - Global Forecast to 2027"

Based on the end-user industry, the automotive & transportation segment is anticipated to grow during the forecast period in the servo motors and drives market.

The rising adoption of automation in the manufacturing process and involvement of digitalization and artificial intelligence are the major factors driving the need for industrial robots in the automotive sector, resulting in the growth of servo motors and drives the market. Servo motors and drives aim at enhancing the speed, accuracy, and productivity of manufacturing in the transportation industry, thus improving the logistics and supply chain processes via robotics and control systems, fuelling the demand in the transportation industry.

Global Servo Motors and Drives Market Segmentation Analysis

Segment

Categorization

Leading Category

Offerings

Hardware, Software, and Services

Hardware (Largest)

Software & Services (High CAGR)

Product Type

Servo Motors and Servo Drives

Servo Motors (Largest)

System

Linear System and Rotary System

Rotary System (Largest)

Voltage

Low Voltage, Medium Voltage, and High Voltage

Low Voltage (Largest)

Brake Technology

Spring, Permanent Magnet, and Others

Permanent Magnet (High CAGR)

Communication Protocol

Fieldbus, Industrial Ethernet, and Wireless

Fieldbus (Largest)

Material Construction

Stainless Steel and Non-Stainless Steel

Non-Stainless Steel (Carbon Steel and Aluminium-Largest)

End-User Industry

Automotive and Transportation, Semiconductor and Electronics, Food Processing, Textiles, Pharmaceuticals & Healthcare, Packaging, Printing & Paper, Oil & Gas, and Chemicals & Petrochemicals, and Others

Automotive and Transportation (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

Asia Pacific (Largest)

 

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“APAC is projected to hold the largest share of servo motors and drives market in 2027”

APAC is expected to have unprecedented growth, owing to the huge investments in industrial automation to enhance operations in the manufacturing industry and increase in demand for consumer electronics, thus boosting the growth of the servo motors and drives market in the region. The demand for energy-efficient vehicles such as electric vehicles and hybrid vehicles due to environmental regulations by governments of many countries has also led to the adoption of DC servo motors in the APAC region. Thus, the servo motors and drives market is anticipated to grow in this region.

Some of the major players in the global servo motors and drives market include YASKAWA ELECTRIC CORPORATION, Siemens AG, Mitsubishi Electric Corporation, Schneider Electric, Rockwell Automation, Inc., ABB, NIDEC CORPORATION, Delta Electronics, Inc., FANUC CORPORATION, and Bosch Rexroth AG.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Offerings, Product Type, System, Voltage, Brake Technology, Communication Protocol, Material Construction, End-User Industry, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

YASKAWA ELECTRIC CORPORATION, Siemens AG, Mitsubishi Electric Corporation, Schneider Electric, Rockwell Automation, Inc., ABB, NIDEC CORPORATION, Delta Electronics, Inc., FANUC CORPORATION, and Bosch Rexroth AG

 

Global Servo Motors and Drives Market Coverage

Offerings Insight and Forecast 2015-2027

  • Hardware
  • Software
  • Services

Product Type Insight and Forecast 2015-2027

  • Servo Motors
  • Servo Drives

System Insight and Forecast 2015-2027

  • Linear System
  • Rotary System

Voltage Insight and Forecast 2015-2027

  • Low Voltage
  • Medium Voltage
  • High Voltage

Brake Technology Insight and Forecast 2015-2027

  • Spring
  • Permanent Magnet
  • Others

Communication Protocol Insight and Forecast 2015-2027

  • Fieldbus
  • Industrial Ethernet
  • Wireless

Material Construction Insight and Forecast 2015-2027

  • Stainless Steel
  • Non-Stainless Steel

End-User Industry Insight and Forecast 2015-2027

  • Automotive and Transportation
  • Semiconductor and Electronics
  • Food Processing
  • Textiles
  • Pharmaceuticals & Healthcare
  • Packaging
  • Printing & Paper
  • Oil & Gas
  • Chemicals & Petrochemicals
  • Others

Geographical Segmentation

Servo Motors and Drives Market by Region

North America

  • By Offerings
  • By Product Type
  • By System
  • By Voltage
  • By Brake Technology
  • By Communication Protocol
  • By Material Construction
  • By End-User Industry
  • By Country – U.S., Canada, and Mexico

Europe

  • By Offerings
  • By Product Type
  • By System
  • By Voltage
  • By Brake Technology
  • By Communication Protocol
  • By Material Construction
  • By End-User Industry
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Offerings
  • By Product Type
  • By System
  • By Voltage
  • By Brake Technology
  • By Communication Protocol
  • By Material Construction
  • By End-User Industry
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Offerings
  • By Product Type
  • By System
  • By Voltage
  • By Brake Technology
  • By Communication Protocol
  • By Material Construction
  • By End-User Industry
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

 

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Global Market for Servo Motors and Drives Market is Anticipated to grow at a Significant Pace i.e., USD 20.12 Billion during the Forecast Period 2021-2027