Global Servo Motors and Drives Market to Reach $16.5 Billion by 2026

SAN FRANCISCO, Aug. 5, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Servo Motors and Drives - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 6; Released: April 2021
Executive Pool: 20333
Companies: 111 - Players covered include ABB; ADTECH (Shenzhen) Technology Co., Ltd; Altra Industrial Motion; AMETEK, Inc; Applied Motion Products, Inc; Baumüller Group; Bosch Rexroth AG; Delta Electronics, Inc; Emerson Electric Co; FANUC CORPORATION; Fuji Electric Co., Ltd; Hitachi, Ltd; Kollmorgen Corporation; Lenze Group; Mitsubishi Electric Corporation; Nidec Corporation; Nippon Pulse America, Inc; Omron Corporation; Panasonic Corporation; Parker-Hannifin Corporation; Powertec Industrial Motors; Rockwell Automation, Inc; Rozum Robotics LLC; Schneider Electric; SEW-EURODRIVE GmbH & Co KG; Siemens AG; WEG; Yaskawa Electric Corporation and Others.
Coverage: All major geographies and key segments
Segments: Type (Motors, Drives); System (Rotary, Linear); End-Use (Automotive & Transportation, Semiconductor & Electronics, Food Processing, Packaging, Textile, Petrochemicals, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Servo Motors and Drives Market to Reach $16.5 Billion by 2026

Servo motors are basic electric motors that are managed for particular angular rotation, with the aid of an additional servomechanism. They include AC and DC motors and are employed in a closed loop system which uses its position feedback to regulate its rotational speed. At present, servo motors are generally used for big industrial applications for control requirements. They find application in toy cars that are remote controlled, in DVD and CD players, and in various daily life applications. Servo motors that are employed in industrial settings include speed as well as position sensing. They implement derivative control algorithms (proportional-integral) which enable the engine to quickly come into position, as the shaft's speed can be managed.

A servo drive functions by obtaining a command signal from the control system, amplifies and transmits the electric current to a servo motor for generating motion that is in proportion to the command signal. The command signal generally represents a required velocity, however can also indicate a desired position or torque. A sensor that is connected to the servo motor notifies about the status of the motor to the servo drive. The actual motor status is compared to the commanded motor status by the servo drive.

Amid the COVID-19 crisis, the global market for Servo Motors and Drives estimated at US$13.3 Billion in the year 2020, is projected to reach a revised size of US$16.5 Billion by 2026, growing at a CAGR of 3.6% over the analysis period. Motors, one of the segments analyzed in the report, is projected to record 3.4% CAGR and reach US$10.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Drives segment is readjusted to a revised 4.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2.2 Billion in 2021, While China is Forecast to Reach $3.9 Billion by 2026
The Servo Motors and Drives market in the U.S. is estimated at US$2.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.9 Billion by the year 2026 trailing a CAGR of 4.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR.

The market is driven by factors such as increasing automation in manufacturing, focus on efficiency, high precision, and ease of maintenance among others. Servo motors and drives are ideal for Industry 4.0 industrial automation solutions as they provide higher precision and control over operations compared to other motor types. Industrial automation or Industry 4.0 is the key trend that is pervading industries across the world. As manufacturers strive to improve efficiency, automation is being recognized as the key enabler for systems. Industrial automation involves extensive usage of technology to connect all the manufacturing systems through a network, to automate most of the processes. Servo motors and drives are best suited to achieve the networking of industrial processes as they are capable of receiving and decoding signals from the controller to achieve the desired changes. As a result, industrial manufacturing is witnessing substantial retrofits with servo motors and drives. Industrial robotics also play an important role in automation of manufacturing as routine tasks can be programmed to be achieved through robots.

Servo motors and drives play a critical role in the proper functioning of industrial robots as they need precise equipment with minimal tolerance levels to perform the tasks. As automation and robotic manufacturing pervades across the manufacturing landscape, servo motors and drives are expected to gain further momentum in future. Automotive represents the major end-use market for servo motors and drives. Modern automobiles feature multiple motors for different functions. Servo motors and drives find application in automobiles such as anti-lock braking systems, fuel injection systems, and cruise control systems. Moreover, automotive assembly extensively utilizes robots throughout the assembly line such as material handling, automated systems for chassis marriage, and painting among others. As the automotive industry moves further in adoption of automation technologies to improve productivity, the logistics segment is also benefiting from the usage of automation solutions, which is enabled by servo motors and drives. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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