The latest report by IMARC Group, titled “Servo Motors and Drives Market Report by Product Type (Servo Motors, Servo Drives), Voltage Range (Low Voltage, Medium and High Voltage), System (Linear System, Rotary System), Communication Protocol (Fieldbus, Industrial Ethernet, Wireless), End Use Industry (Machine Tools, Packaging, Robotics, Semiconductors, Electronics, Rubber and Plastics, and Others), and Region 2024-2032“, The global servo motors and drives market size reached US$ 12.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032.
Servo motors and drives play a crucial role in automation and control systems by precisely managing the position, speed, and torque of machinery and equipment. These motors are typically equipped with encoders or resolvers for feedback, enabling them to continuously adjust and maintain their position and velocity based on a desired setpoint. Available in various sizes and power ratings, servo motors cater to a wide range of applications. On the other hand, servo drives, also known as servo amplifiers or controllers, supply power and control signals to the servo motor. By receiving feedback from the motor’s encoder, processing the data, and adjusting the motor’s output accordingly, servo drives ensure accurate tracking of the desired trajectory. Their capability to provide swift and precise control is essential for enhancing productivity and product quality in diverse industries. Consequently, servo motors and drives are extensively utilized in manufacturing, robotics, aerospace, and automotive sectors worldwide, where precise motion control is indispensable.
Servo Motors and Drives Market Trends and Drivers:
The growth of the global servo motors and drives market is mainly fueled by the increasing automation trend in the manufacturing, automotive, and aerospace sectors. These components play a vital role in precision motion control, making them indispensable for the efficient operation of automated machinery and robotics. Furthermore, continuous technological advancements, such as the development of more compact, energy-efficient, and high-performance servo motor systems, are positively impacting market expansion. These innovations address the rising demand for smaller, more agile automation solutions. Additionally, the rapid growth of the electric and hybrid vehicle industry, which heavily relies on servo motors and drives for efficient powertrain and control systems, is driving market growth. The rising demand for energy-efficient solutions and sustainability initiatives has also accelerated the adoption of servo motors and drives, as they offer enhanced energy efficiency and reduced operational costs. Moreover, the increasing use of robotics and industrial automation in emerging economies, particularly in Asia-Pacific, due to rapid industrialization and significant growth in manufacturing industries, is contributing to the market’s expansion.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/servo-motors-drives-market/requestsample
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product:
- Servo Motors
- Servo Drives
Breakup by Voltage Range:
- Low Voltage
- Medium and High Voltage
Breakup by System:
- Linear System
- Rotary System
Breakup by Communication Protocol:
- Fieldbus
- Industrial Ethernet
- Wireless
Breakup by End Use Industry:
- Machine Tools
- Packaging
- Robotics
- Semiconductors
- Electronics
- Rubber and Plastics
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- ABB Ltd.
- Bosch Rexroth AG
- Delta Electronics, Inc.
- Emerson Electric Co.
- Fanuc Corporation
- Mitsubishi Electric Corporation
- Nidec Corporation
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Yaskawa Electric Corporation
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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