The Worldwide Servo Motors and Drives Industry is Expected to Reach $15.8 Billion by 2027
DUBLIN, Nov. 15, 2022 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.
The servo motors and drives market size will grow to USD 15.8 Billion by 2027 from USD 12.0 Billion in 2022, at a CAGR of 5.7% during the forecast period. The increase in motion control equipment's required for automation in major industrial sectors is driving servo motors and drives market
Hardware segment is expected to emerge as the largest segment based on offering for the servo motors and drives market
The servo motors and drives market has been segmented into hardware, software and services. The hardware segment is projected to larger share during the forecast period. This is due to the widespread use of servo motors and drives components, which together constitute the hardware segment. The major reasons behind the growing demand for servo motors and drives include the rapid growth and advancements in industrial automation. Setting up automation requires servo motors and drives, which offer a high level of precision, accuracy, and torque with low maintenance costs
Servo Drives segment is expected to be the fastest growing segment of the servo motors and drives market, by product type
Based on product type the servo motors and drives market is segmented into servo motors and servo drives. Servo drives have observed high demand since the last few years, driven by advancements in servo systems, which has facilitated easy customization. Advancements, in turn, have led to increased use of servo drives in industrial control systems, warehouse automation, and robotics.
Asia Pacific is expected to be the largest market during the forecast period.
The Asia Pacific is expected to be the largest growing market in the servo motors and drives market. The growth of the market in Asia Pacific can be attributed to the flourishing electronics market in India, China, Taiwan, and Japan. These countries are the leading markets for consumer electronics, such as smartphones, home appliances, kitchen appliances, smart home devices, remote control solutions, wearable devices, and other battery-operated electronic products.
The growth of the servo motors and drives market in Asia Pacific can also be attributed to its booming automotive manufacturing sector. The sector has witnessed rapid changes in terms of manufacturing technologies to enhance automotive production and manufacturing facilities. These changes are projected to catalyze the adoption of servo motors and drives in the Asia Pacific region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview5.1 Introduction5.2 Market Dynamics5.2.1 Drivers188.8.131.52 Rising Need for Motion Control Systems in Automated Production Plants184.108.40.206 Increasing Adoption of Servo Motors Due to Better Features Compared with Stepper Motors5.2.2 Restraints220.127.116.11 High Investment Involved in Integrating New Automation Technologies into Current Infrastructure18.104.22.168 Lower Cost of Other Motion Control Motors Compared with Servo Motors5.2.3 Opportunities22.214.171.124 Need for Feedback Control in Servo Systems Driving Demand for Encoders126.96.36.199 Growth in Adoption of Smart Manufacturing Initiatives in Industries5.2.4 Challenges188.8.131.52 Supply-Chain Disruptions in Steel Industry184.108.40.206 Shortage of Skilled Workforce to Handle Complexities in Automated Manufacturing Facilities5.3 Trends/Disruptions Impacting Customers' Businesses5.3.1 Revenue Shift and New Revenue Pockets5.4 Value Chain Analysis5.4.1 Raw Material Providers/Suppliers5.4.2 Component Manufacturers5.4.3 Manufacturers/Assemblers5.4.4 End-Users5.4.5 Post-Sales Service Providers5.5 Market Map5.6 Average Selling Price Trend5.7 Technology Analysis5.8 Trade Analysis5.9 Tariff and Regulatory Landscape5.10 Porter's Five Forces Analysis5.11 Key Stakeholders and Buying Criteria5.12 Innovations and Registered Patents5.13 Case Study Analysis5.13.1 Motion Control Motors and Drives Designed with Cutting-Edge Technology Accelerate Bottle Labeling5.13.2 Troubleshooting Motion Control System Using Moog Animatics Smart Motor Data5.14 Key Conferences and Events, 2022-2023
6 Servo Motors and Drives Market, by Offering6.1 Introduction6.2 Hardware6.2.1 Sensors220.127.116.11 Adoption of Mems-Based Sensors to Boost Market Growth6.2.2 Controller Modules18.104.22.168 Controller Modules Improve Efficiency of Servo Motors by Tracking Commanded Inputs and Blocking Errors6.2.3 Encoders22.214.171.124 Increasing Demand for Industrial Robots to Boost Adoption of High-Resolution Rotary Encoders6.2.4 Electronic Amplifiers126.96.36.199 Development of Enhancement-Mode Gan Field-Effect Transistor-Based Class D Amplifiers to Boost Use of Electronic Amplifiers6.2.5 Other Components6.3 Software and Services6.3.1 Servo Software Automate Various Tasks Involved in Running and Monitoring Connected Field Devices
7 Servo Motors and Drives Market, by Product Type7.1 Introduction7.2 Servo Motors7.2.1 Rising Demand for Closed-Loop Control to Improve Reliability of Industrial Processes7.3 Servo Drives7.3.1 Growing Need for Servo Drives to Control Servo Motors
8 Servo Motors and Drives Market, by Voltage8.1 Introduction8.2 Low Voltage (Below 400 V)8.2.1 Ease of Operation and Low Setup & Maintenance Costs to Drive Market8.3 Medium Voltage (Between 400 V and 690 V)8.3.1 Medium-Voltage Servo Drives Offer Benefits Such as Economies of Scale and High Reliability8.4 High Voltage (Above 690 V)8.4.1 High-Voltage Servo Drives Offer Programmable Settings That Lead to Improved Quality Assurance
9 Servo Motors and Drives Market, by System Type9.1 Introduction9.2 Linear Systems9.2.1 Direct-Drive Linear Servo Motors Offer Benefits Such as Improved Throughput and Better Precision9.3 Rotary Systems9.3.1 Need to Improve Productivity of Processes in Various Industries to Drive Penetration
10 Servo Motors and Drives Market, by Brake Technology10.1 Introduction10.2 Spring10.2.1 Spring Brakes Are Mainly Used in Robotics, Elevators, and Lifting Machines10.3 Permanent Magnet10.3.1 Permanent Magnet Brakes Ideal for Robots and Handling Equipment10.4 Others
11 Servo Motors and Drives Market, by Material of Construction11.1 Introduction11.2 Stainless Steel11.2.1 Ability of Stainless Steel to Handle Harsh Environments to Drive Demand11.3 Others
12 Servo Motors and Drives Market, by Communication Type12.1 Introduction12.2 FieldbUS12.2.1 Reduction of Cable Installations for Communication to Drive Demand12.3 Industrial Ethernet12.3.1 Features Such as High-Speed Transmission to Drive Demand12.4 Wireless12.4.1 Reliable Communication Technologies Such as Wlan and Bluetooth to Drive Market
13 Servo Motors and Drives Market, by End-User13.1 Introduction13.2 Automotive & Transportation13.2.1 New Technologies in Mobility to Drive Demand13.3 Semiconductor & Electronics13.3.1 Servo Motors Facilitate Semiconductor Manufacturing Processes13.4 Food Processing13.4.1 High-Precision Requirements in Food Processing Industry to Create Demand13.5 Textile13.5.1 High-Quality Production Offered by Servo Motors to Accelerate Demand13.6 Petrochemical13.6.1 Ability of Servo Motors to Work in Harsh Environments to Drive Market13.7 Pharmaceutical & Healthcare13.7.1 Requirement of Servo Motors for Proper Handling of Production Processes to Drive Market13.8 Packaging13.8.1 Need for Speed, Precision, and Reliability in Packaging Applications to Drive Market13.9 Printing & Paper13.9.1 Flexibility in Printing Operations to Boost Demand13.10 Others
14 Regional Analysis
15 Competitive Landscape15.1 Strategies Adopted by Key Players15.2 Market Share Analysis of Top Five Players, 202115.3 Five-Year Company Revenue Analysis15.4 Company Evaluation Matrix/Quadrant15.4.1 Stars15.4.2 Pervasive Players15.4.3 Emerging Leaders15.4.4 Participants15.5 Startup/Sme Evaluation Quadrant15.5.1 Progressive Companies15.5.2 Responsive Companies15.5.3 Dynamic Companies15.5.4 Starting Blocks15.6 Competitive Benchmarking15.7 Servo Motors and Drives Market: Company Footprint15.8 Competitive Scenario
16 Company Profiles16.1 Yaskawa Electric16.2 Mitsubishi Electric16.3 Siemens16.4 Schneider Electric16.5 Rockwell Automation16.6 Abb16.7 Nidec16.8 Delta Electronics16.9 Fanuc16.10 Fuji Electric16.11 Kollmorgen16.12 Parker Hannifin Corporation16.13 Omron Corporation (Omron)16.14 Sew Eurodrive16.15 Lenze16.16 Bosch Rexroth16.17 Weg16.18 Ametek16.19 Rozum Robotics16.2 Adtech (Shenzhen) Technology Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/dvyqs1
Research and MarketsLaura Wood, Senior [email protected]
For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904Fax (outside U.S.): +353-1-481-1716
View original content:https://www.prnewswire.com/news-releases/the-worldwide-servo-motors-and-drives-industry-is-expected-to-reach-15-8-billion-by-2027--301678737.html
SOURCE Research and Markets