Global Servo Motors and Drives Market Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Servo Motors and Drives Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global servo motors and drives market report has been segmented on the basis of offering, type, communication protocol, end-use industry, and region.
Global Servo Motors and Drives Market: Overview
Servo motor is a linear or rotary actuator which controls the angular or linear position. Servo drive is an electronic amplifier used to provide electric current to servo motor. It is widely used in various industries such as automotive, food processing, packaging, printing & paper, etc.
Global Servo Motors and Drives Market: Dynamics
Increasing advancements in automation and rising demand for energy efficiency servo motors and drives are major factors expected to augment growth of the global servo motors and drives market in the years to come. Additionally, rising demand for servo motors and drives in various end-use industries such as semiconductor and automotive is another factor expected to proliferate growth of the potential market. Moreover, favorable regulations regarding environment and reducing energy consumption, and increasing technological advancements are factors anticipated to support growth of the target market in the next 10 years.
However, availability of cheap substitutes with low quality is a factor which may hamper demand for servo motors and drives and restrain growth of the target market.
Development of technologies for efficient and user-friendly products such as encoders, etc. and increasing adoption in the emerging markets are factors expected to offer new opportunities for manufacturers operating in the target market.
Global Servo Motors and Drives Market: Segment Analysis
Among the offering segments, the motor component segment is expected to register significant growth in terms of value in the target market, followed by drive component. Among the type segments, the motor type segment is expected to account for highest revenue share in the next coming years.
Among the communication protocol segments, the wireless segment is projected to register significant revenue growth in the next 10 years. Among the end-use industry segments, the automotive & transportation segment is projected to register major share in terms of revenue in the target market.
Global Servo Motors and Drives Market: Region Analysis
The servo motors and drives market in Asia Pacific is expected to account for highest revenue share in the target market and projected to grow at a faster rate in the target market in the next coming years. This dominance is attributed to rapid industrialization, coupled with growing automotive, semiconductor, and other industries, increasing government initiatives and funding in various projects for smart and digitalized infrastructure. The Europe market is expected to register moderate growth in terms of value in the target market, owing to increasing demand for the product in industrial and automotive sectors. In addition, the servo motors and drives is used in various end-use industries to increase energy efficiency and reduce power losses. The North America market is projected to register moderate growth rate in the global servo motors and drives market owing to increasing use for energy efficient devices.
Global Servo Motors and Drives Market Segmentation:
Segmentation on the Basis of Offering:
- Motor Components
- Drive Components
- Software & Services
Segmentation on the Basis of Type:
- Motor Type
- AC Servo Motors
- DC Brushless Motors
- Brushed DC Motors
- Linear Servo Motors
- Drive Type
- AC Servo Drives
- DC Servo Drives
- Adjustable Speed Drives
Segmentation on the Basis of Communication Protocol:
- Industrial Ethernet
Segmentation on the Basis of End-use Industry:
- Automotive & Transportation
- Semiconductor & Electronics
- Food Processing
- Textile Machines
- Pharmaceutical & Healthcare
- Others (Packaging, Printing & Paper, etc.)
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- ABB Ltd.
- Siemens AG
- Schneider Electric S.E.
- Yaskawa Electric Corporation
- Nidec Motor Corporation
- Rockwell Automation, Inc.
- Mitsubishi Electric Corporation
- Delta Electronics, Inc.
- FANUC Corporation
- Kollmorgen Corporation
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