Press release
Servo Motors and Drives Market and its Key Opportunities and Challenges
Servo Motors and Drives Market by Offering (Motor & Drive Component, Software & Service), Type (AC/DC, Linear Servo Motor, Adjustable Speed Drives), Voltage Range, MoC, Communication Protocol, Industry, and Geography - Global Forecast to 2022The global servo motors and drives market is expected to grow from USD 10.3 billion in 2015 to USD 15.9 billion by 2022, at a CAGR of 6.3% between 2016 and 2022. The advancement and rapid growth in automation are expected to drive the servo motors and drives industry.
Advancement & rapid adoption of automation, implementation of energy-efficient international standards, integration of motion control components in motors & drives, regulations for energy efficiency, and ease of use are the main driving factors for the servo motors and drives market growth.
Download Free PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1127
Automotive & transportation industry’s demand for servo motors and drives to have the lion's share and packaging industry’s demand to grow at the fastest pace
Automotive & transportation is expected to hold the largest of the global servo motors and drives market share. On the other hand, packaging is anticipated growing at the highest rate during the forecast period.
The automotive & transportation industry held the largest share of the global servo motors and drives market in terms of value in 2015. Rapid changes in manufacturing innovation, technology, and technical advancement in the automotive sector are anticipated to fuel the servo motors and drives market growth. There is a high demand worldwide for servo drives, controls, and motors as they help improve the efficiency of the automotive industry's production and manufacturing facilities.
Linear, Medium Voltage and Stainless Steel Servo Motors to grow at the highest CAGR
It is expected that the market for linear servo motors will grow at the highest CAGR from 2016 to 2022. Increasing application scope of linear servo motors in machine tools, manufacturing machines, semiconductors & electronics, textile machines, food processing, packaging machines, chip mounters, and robotics, among others, is driving its demand.
The medium voltage servo motors and drives segment is expected to grow at the highest CAGR between 2016 and 2022. The rising demand for medium voltage motors and drives from several end-use industries, including mining, metal, water & wastewater treatment, and power generation is driving the growth of the segment.
Stainless steel servo motors and drives segment is likely to witness the highest growth from 2016 to 2022. The increasing demand for stainless steel from the food processing, pharmaceutical, and healthcare industries is a major driving factor for the segment.
APAC having major share and expected to grow further at the highest CAGR
Increasing industrial activities along with the rising demand for faster & accurate motors and drives to achieve a higher production output resulted in APAC contributing the highest revenues in 2015. Massive investment in the manufacturing industry is pushing servo engine development and driving the region's production. APAC is anticipated witnessing the fastest growth during the forecast period.
Key players and challenges faced by them
Mitsubishi Electric Corporation (Japan), Yaskawa Electric Corporation (Japan), Siemens AG (Germany), Rockwell Automation Inc. (US), and Schneider Electric (France), are the key players in the servo motors and drives market. The significant challenges faced by them are risk and uncertainty in the market and lack of skilled workforce and trained workers. These players adopted various strategies, including mergers, new product developments, collaborations, expansions, and partnerships to cater to the needs of the global servo motors and drives market.
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Servo Motors and Drives Market and its Key Opportunities and Challenges here
News-ID: 1872581 • Views: …
More Releases from MarketsandMarkets
Top Ultrasound Market Trends Driving Growth in 2025 and Beyond | Philips Healthc …
The global ultrasound market is entering a transformative phase in 2025. Once primarily associated with pregnancy scans and basic imaging, ultrasound has now evolved into a powerful, multipurpose diagnostic tool with applications across cardiology, oncology, musculoskeletal care, emergency medicine, and beyond.
As healthcare systems worldwide shift towards non-invasive, affordable, and portable imaging solutions, ultrasound is becoming central to modern diagnostics. According to market insights, the ultrasound industry is poised for steady…
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for…
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth.
Download PDF Brochure @…
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Waterproofing Membranes Market is Projected Grow at CAGR of 8% CAGR by 2033
The waterproofing membranes market is anticipated to witness a Compound Annual Growth Rate (CAGR) of 8.0% over the forecast period. By 2023, the estimated market value for waterproofing membranes is substantial, reaching US$ 31.5 billion.
These waterproofing materials comprise thin, impermeable membranes designed to collaborate with asphalt, providing a protective shield for the structural integrity of buildings. The asphalt component in these membranes acts as a safeguard, preserving the underlying membrane…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Pediatric Radiology Market Size will Grow at CAGR 7.7% CAGR during 2017-2026
Pediatric Radiology Market:Overview
The pediatric radiology market is likely to register robust growth in the near future. Chronic illnesses among children including neurological disorders such as ADHD are on the rise. According to the US labor bureau, the demand for pediatrician is expected to grow by 24% on average by 2020. This is the highest average growth among all professionals in the United States.
Despite challenges such as training for new…
