Industry: Industrial Automation
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP5765
[235 Pages] The global Servo Motors Market is currently valued at around US$ 15,936.5 million, and is anticipated to progress at a CAGR of 8.1% to reach US$ 37,374.0 million by 2033. The growing adoption by application oriented segments will drive the market growth in forecast period.
Automation of industrial processes has recently resulted in improved output, reduced costs, more precision, and help in mitigating regular manual tasks. In addition, the automation market is growing at a significant rate, leading to several applications for cutting-edge tools and equipment. Numerous sectors are continuing to switch from traditional motors to servo motors and drives in order to streamline processes and boost total production, offering a plethora of opportunities for market participants.
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Global Servo Motors and Drives Market Size (2022A) |
US$ 15,936.5 Million |
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Global Servo Motors and Drives Market Size (2023E) |
US$ 17,204.5 Million |
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Projected Servo Motors and Drives Market Value (2033F) |
US$ 37,374.0 Million |
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Value CAGR (2023−2033) |
8.1% |
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Collective Value Share: Top 3 Countries (2022) |
39.9% |
The most prevalent use of servo motors is for high-tech gadgets in industrial applications like automation technology. Servo motors are electrical devices that rotate an object or system, such as a robot's arm, with incredible perfection. It is a self-contained electrical device that rotates the machine's components precisely and efficiently. A precise angle can also be set for this motor's output shaft. A combiner motor, a feedback circuit, a controller, and an electronic circuit are the four essential components of a servo motor. Due to the connected feedback mechanism, these motors operate in a closed-loop system.
Servo drives are also referred to as amplifiers since they amplify the control signal from the controller to provide a particular voltage and current to the motor.
Servo motors and drives offer a lot of benefits over conventional DC motors and steeper motors, including built-in feedback systems, high revolutions per minute, etc. The global market for servo motors and drives has been continuously studied with a clear understanding of the macro elements and forecast components in order to provide clients with detailed insight. The market for servo motors and drives will be stimulated by the broad use of automation and is anticipated to grow in the forecast period at a CAGR of 8.1% globally.
The market for Servo Motors and Drives grew at a CAGR of 2.8% from 2018 to 2022 and is anticipated to grow at a rate of 8.1% from 2023 to 2033 as a result of rising global vehicle demand and production as well as the trending demand from customers for performance improvement and fuel-efficient systems. At the initial stage of the COVID-19 outbreak, all markets experienced significant losses all over the globe, and Servo Motors and Drives were not the exceptions.
The Servo Motors and Drives market is experiencing significant growth as it regains its original position in terms of revenue, GDP, and correlational analysis between market players. Servo motors and drives are widely used in a variety of industries today to carry out precise actions that are controlled by input signals. This is in line with the concept that multicore servo drives and motors have evolved to be a key component of the industry because they provide greater control, better feedback, and increased precision.
The PLC, which has completely replaced relay logic, is one example of how several technology developments over the past few decades actually sparked new growth in industrial automation. Additionally, the expansion of manufacturing and production facilities around the world is generating significant growth potential. Servo motors have applications beyond brand-new factories. These are moreover obtaining appreciable traction from outdated industrial facilities. In short, owners of older factories or manufacturing plants are making agreements with well-known servo motor producers to replace the current operational system with servo motors.
A technological revolution has been taking place in end-use sectors over the past few years with the development of service robots for professional use. The market is anticipated to reach about triple in size by the end of 2021 as a result of the rapid expansion of robot capabilities brought on by developments in machine learning, artificial intelligence, adaptive computing, and vision systems. In addition, the ownership of robots as a service (RaaS) is a result of increased technological improvement in this field. As a result, it is anticipated that as technological investment improves, servo motor prospects will develop and drive the global market throughout the forecast period.
Servo motors are superior to regular electric motors in terms of operation and accuracy. Servo motors operate in response to input impulses. These signals are entered via coding, which is a computer language. As a result, it takes a skilled individual to adjust the servo motor, drive, wire, and other small working equipment to the servo system.
One servo drive can control one servo motor for some applications, but for other applications, it can control several servo motors. As a result, creating a setup and developing logic in accordance with the requirement will take significantly more time and space. As a result, servo motor system installation takes longer than other typical motor system installation, which is predicted to be a headwind for the market for servo motors and drives.
How is Europe Contributing to the Growth of the Servo Motors and Drives Market?
Geographically, the sector has been divided into a number of regions where Europe holds a dominant market share in the global market. Germany will hold a significant global market share of around 11.4% in 2022. Europe is expected to experience a significant growth rate as a result of the continent's growing energy demand, booming exploration and production activities (particularly hydraulic fracturing), declining reliance on coal reserves, and initiatives to boost the penetration of renewable sources like solar and wind energy. The adoption of these drives will be supported by the region's prominence as a significant hub for the production of a number of products across numerous end-use industries, including electronics, and by the increasing global demand for these goods.
Why is East Asia Emerging as an Opportunistic Servo Motors and Drives Market?
East Asia holds around 20.2% of the global servo drive market share, and it is expected that this dominance will last for the duration of the forecast period due to the region's rapid industrialization, oil and gas operations, and infrastructure growth in developed nations like China, Japan, and South Korea. Owing to the area's exponential population expansion during the past ten years, there has been a rapid urbanization of the region. Ultimately, this has boosted the demand for goods and services across a variety of industry sectors, which has driven the market areas that are currently open to growth.
The population of the area has increased significantly over the previous 20 years, and world meters predict that it will increase even faster in the years to come. In comparison to China and South Korea, Japan's market is more stable and mature. As a result, Japan's growth is relatively moderate.
Which Product Type has the Most Potential for Growth in the Servo Motors and Drives Market?
The product type segment includes linear servo motors and rotor servo motors as their primary categories, in which linear servo motors will hold around 55.8% of the global market for Servo Motors and Drives by 2022.
Similar to positional rotation servo motors, linear servo motors can vary their output from circular to back and forth by adding extra gears. These motors, which are frequently available at craft stores, have several applications for remotely controlled aircraft. Higher precision, faster speeds, and maximum acceleration are advantages of linear servo motors over rotary counterparts, which is why consumers prefer this type. Small and medium-sized rotary servo motors are readily accessible on the market, and these motors are recognized for their high precision and long-term dependability. These motors include a sensor for conducting operations and controlling the angular position in a precise manner.
Which Application is Currently Dominating the Servo Motors and Drives Market?
Servo motors are utilized in a variety of applications, which PMR has covered. Robotics dominates the area with a global market share of around 36.6%. All industrial robot types that use servo motors to produce in-line goods on an assembly line fall under this category. Servo motors are put at each joint of this type of robot to actuate motions and provide the robot arm's precise angle. Such robotics are being used more frequently, which contributes to their impressive market share.
Printing, packaging and electrical devices are further application types with sizable market shares in the global market. These applications have a substantial global footprint, and over the forecast period, the demand for servo drives and motors will drive their growth. The other applications, which include remote-controlled toys, medical equipment, CNC machines, and other industrial machinery equipment, span a variety of industries and show moderate growth over the forecast period.
Which Motor Configuration Holds a Significant Market Share of the Servo Motors and Drives Market?
The market is widely divided into AC Servo Motors and DC Servo Motors based on Motor Configuration. Due to their versatility in operation at various speeds and affordability in comparison to DC Servo Motors, AC Servo Motors currently maintains a significant market share of around 74.2%. The absence of brushes and commutators, which eliminates the costs of the replacement and thus necessitates less maintenance within this market, is another significant factor that favors AC servo Motors. Additionally, AC servo motors have a backup system that enables consistent speed operation even in the event of a controller malfunction.
Several manufacturers are competing for market domination in the intensely competitive global servo motors and drives market, as a result of rising demand and increased adoption of technology. The number of well-known firms has expanded to stay up with competitors in the market. The servo motors and drives market will expand over the course of the anticipated period as a result of the many expansion methods used by market participants in recent years, such as acquisitions, mergers, and partnerships. The following are some significant developments made by market participants:
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Attribute |
Details |
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Forecast Period |
2023−2033 |
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Historical Data Available for |
2018−2022 |
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Market Analysis |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Product Type
By Technology
By Application
By Motor Configuration
By Rated Power Capacity
By Region
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The Global Servo Motors and Drives Market is estimated to be valued at over US$ 15,936.5 Million as of 2022.
Servo Motors and Drives are projected to increase at 8.1% CAGR and are expected to be valued at around US$ 37,374.0 Million by 2033 end.
Siemens AG, Altra Industrial Motion Corp, Panasonic Corporation, Nidec Motor Corporation, Parker Hannifin Corporation, Delta Electronics Inc., Fuji Electric Co., Hitachi Ltd., Rozum Robotics Inc., Mitsubishi Electric Corporation, Schneider Electric, FANUC CORPORATION, etc.
China, Germany, Japan, South Korea, and the United Kingdom are driving most of the demand for Servo Motors Drives.
China, and Germany holding significant manufacturers and exporters of Servo Motors Drives.
Japan is slated to hold around 11.2% share of the global market in 2022.
