The Worldwide Servo Motors and Drives Industry is Expected to Reach $15.8 Billion by 2027

News provided by

Nov 15, 2022, 11:00 ET

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:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Need for Motion Control Systems in Automated Production Plants
5.2.1.2 Increasing Adoption of Servo Motors Due to Better Features Compared with Stepper Motors
5.2.2 Restraints
5.2.2.1 High Investment Involved in Integrating New Automation Technologies into Current Infrastructure
5.2.2.2 Lower Cost of Other Motion Control Motors Compared with Servo Motors
5.2.3 Opportunities
5.2.3.1 Need for Feedback Control in Servo Systems Driving Demand for Encoders
5.2.3.2 Growth in Adoption of Smart Manufacturing Initiatives in Industries
5.2.4 Challenges
5.2.4.1 Supply-Chain Disruptions in Steel Industry
5.2.4.2 Shortage of Skilled Workforce to Handle Complexities in Automated Manufacturing Facilities
5.3 Trends/Disruptions Impacting Customers' Businesses
5.3.1 Revenue Shift and New Revenue Pockets
5.4 Value Chain Analysis
5.4.1 Raw Material Providers/Suppliers
5.4.2 Component Manufacturers
5.4.3 Manufacturers/Assemblers
5.4.4 End-Users
5.4.5 Post-Sales Service Providers
5.5 Market Map
5.6 Average Selling Price Trend
5.7 Technology Analysis
5.8 Trade Analysis
5.9 Tariff and Regulatory Landscape
5.10 Porter's Five Forces Analysis
5.11 Key Stakeholders and Buying Criteria
5.12 Innovations and Registered Patents
5.13 Case Study Analysis
5.13.1 Motion Control Motors and Drives Designed with Cutting-Edge Technology Accelerate Bottle Labeling
5.13.2 Troubleshooting Motion Control System Using Moog Animatics Smart Motor Data
5.14 Key Conferences and Events, 2022-2023

6 Servo Motors and Drives Market, by Offering
6.1 Introduction
6.2 Hardware
6.2.1 Sensors
6.2.1.1 Adoption of Mems-Based Sensors to Boost Market Growth
6.2.2 Controller Modules
6.2.2.1 Controller Modules Improve Efficiency of Servo Motors by Tracking Commanded Inputs and Blocking Errors
6.2.3 Encoders
6.2.3.1 Increasing Demand for Industrial Robots to Boost Adoption of High-Resolution Rotary Encoders
6.2.4 Electronic Amplifiers
6.2.4.1 Development of Enhancement-Mode Gan Field-Effect Transistor-Based Class D Amplifiers to Boost Use of Electronic Amplifiers
6.2.5 Other Components
6.3 Software and Services
6.3.1 Servo Software Automate Various Tasks Involved in Running and Monitoring Connected Field Devices

7 Servo Motors and Drives Market, by Product Type
7.1 Introduction
7.2 Servo Motors
7.2.1 Rising Demand for Closed-Loop Control to Improve Reliability of Industrial Processes
7.3 Servo Drives
7.3.1 Growing Need for Servo Drives to Control Servo Motors

8 Servo Motors and Drives Market, by Voltage
8.1 Introduction
8.2 Low Voltage (Below 400 V)
8.2.1 Ease of Operation and Low Setup & Maintenance Costs to Drive Market
8.3 Medium Voltage (Between 400 V and 690 V)
8.3.1 Medium-Voltage Servo Drives Offer Benefits Such as Economies of Scale and High Reliability
8.4 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 Type
9.1 Introduction
9.2 Linear Systems
9.2.1 Direct-Drive Linear Servo Motors Offer Benefits Such as Improved Throughput and Better Precision
9.3 Rotary Systems
9.3.1 Need to Improve Productivity of Processes in Various Industries to Drive Penetration

10 Servo Motors and Drives Market, by Brake Technology
10.1 Introduction
10.2 Spring
10.2.1 Spring Brakes Are Mainly Used in Robotics, Elevators, and Lifting Machines
10.3 Permanent Magnet
10.3.1 Permanent Magnet Brakes Ideal for Robots and Handling Equipment
10.4 Others

11 Servo Motors and Drives Market, by Material of Construction
11.1 Introduction
11.2 Stainless Steel
11.2.1 Ability of Stainless Steel to Handle Harsh Environments to Drive Demand
11.3 Others

12 Servo Motors and Drives Market, by Communication Type
12.1 Introduction
12.2 FieldbUS
12.2.1 Reduction of Cable Installations for Communication to Drive Demand
12.3 Industrial Ethernet
12.3.1 Features Such as High-Speed Transmission to Drive Demand
12.4 Wireless
12.4.1 Reliable Communication Technologies Such as Wlan and Bluetooth to Drive Market

13 Servo Motors and Drives Market, by End-User
13.1 Introduction
13.2 Automotive & Transportation
13.2.1 New Technologies in Mobility to Drive Demand
13.3 Semiconductor & Electronics
13.3.1 Servo Motors Facilitate Semiconductor Manufacturing Processes
13.4 Food Processing
13.4.1 High-Precision Requirements in Food Processing Industry to Create Demand
13.5 Textile
13.5.1 High-Quality Production Offered by Servo Motors to Accelerate Demand
13.6 Petrochemical
13.6.1 Ability of Servo Motors to Work in Harsh Environments to Drive Market
13.7 Pharmaceutical & Healthcare
13.7.1 Requirement of Servo Motors for Proper Handling of Production Processes to Drive Market
13.8 Packaging
13.8.1 Need for Speed, Precision, and Reliability in Packaging Applications to Drive Market
13.9 Printing & Paper
13.9.1 Flexibility in Printing Operations to Boost Demand
13.10 Others

14 Regional Analysis

15 Competitive Landscape
15.1 Strategies Adopted by Key Players
15.2 Market Share Analysis of Top Five Players, 2021
15.3 Five-Year Company Revenue Analysis
15.4 Company Evaluation Matrix/Quadrant
15.4.1 Stars
15.4.2 Pervasive Players
15.4.3 Emerging Leaders
15.4.4 Participants
15.5 Startup/Sme Evaluation Quadrant
15.5.1 Progressive Companies
15.5.2 Responsive Companies
15.5.3 Dynamic Companies
15.5.4 Starting Blocks
15.6 Competitive Benchmarking
15.7 Servo Motors and Drives Market: Company Footprint
15.8 Competitive Scenario

16 Company Profiles
16.1 Yaskawa Electric
16.2 Mitsubishi Electric
16.3 Siemens
16.4 Schneider Electric
16.5 Rockwell Automation
16.6 Abb
16.7 Nidec
16.8 Delta Electronics
16.9 Fanuc
16.10 Fuji Electric
16.11 Kollmorgen
16.12 Parker Hannifin Corporation
16.13 Omron Corporation (Omron)
16.14 Sew Eurodrive
16.15 Lenze
16.16 Bosch Rexroth
16.17 Weg
16.18 Ametek
16.19 Rozum Robotics
16.2 Adtech (Shenzhen) Technology Co. Ltd.