Servo Drive Market to See Huge Expansion by Revenue Size in Near Future

Some of the major factors that drive the growth of the servo drive market include rapid growth and advancements in automation, increase in adoption of international energy-efficient standards, stringent electricity utilization standards, and rise in electricity prices. However, high cost of servo drive is expected to restrain the market growth. Further, Industrial Revolution 4.0 is anticipated to provide lucrative opportunities for the growth of the servo drive market.

The major companies profiled in the servo drive market include ABB Ltd., Siemens AG, Schneider Electric SE, Rockwell Automation, Mitsubishi Electric, GSK CNC, Toshiba International Corporation Ltd., Okuma, Parker Hannifin Co., Emerson Electric Co., and others.

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Growth Drivers

o Increase in adoption of international energy-efficient standards

o Stringent electricity utilization standards and rise in electricity prices are some of the other factors that fuel the market growth.

Working

Servo drives are designed to convert electrical power into precision-controlled motion, e.g., controlled torque (torque servo), controlled speed (velocity servo), or controlled position (positioning servo). This typically requires at least three elements: the motor, feedback of some sort, and an amplifier. It can also be said that the servo drive is a special electronic amplifier used to power electric servomechanisms.

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Applications

Servo motors are used in commercial and other industry, aerospace, and other transportation equipment, household appliances, industrial machinery, heating ventilating & cooling equipment, and motor vehicles. Servo motors serve the purpose of automation, which is the key factor that drives the servo motors market, which in turn drives the servo drive market growth.

The servo drive market is segmented based on type, motor power, electrical drives, machinery, end application, and region.

Based on type, the market is categorized into torque servo, velocity servo, and positioning servo. On the basis of motor power, it is divided into Up to 1 kW, 1-2 kW, 2-5 kW, 5-15 kW, and >15 kW. Based on electrical drives, it is bifurcated into DC drive and AC drive. Based on machinery, it is categorized into small equipment, medium machinery, and large machinery. By end application, it is classified into commercial & other industry, aerospace & other transportation equipment, household appliances, industrial machinery, heating ventilating & cooling equipment, and motor vehicles. Based on region, the market is analyzed across Europe, Asia-Pacific, North America, and LAMEA.

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KEY BENEFITS FOR STAKEHOLDERS

o This study comprises analytical depiction of the servo drive market share with current trends and future estimations to depict the imminent investment pockets.

o The overall potential is determined to understand the profitable trends to gain a stronger foothold in the servo drive industry.

o The servo drive market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.

o The current market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.

o Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

KEY MARKET SEGMENTS

o By Type
Torque Servo
Velocity Servo
Positioning Servo

o By Motor Power

Up to 1 kW
1-2 kW
2-5 kW
5-15 kW
>15 kW

o By Electrical Drives

DC Drive
AC Drive
By Machinery
Small Equipment
Medium Machinery
Large Machinery

o By End Application

Commercial and Other Industry
Aerospace and Other Transportation Equipment
Household Appliances
Industrial Machinery
Heating Ventilating and Cooling Equipment
Motor Vehicles
o By Region

North America
U.S.
Canada
Mexico

o Europe

Germany
France
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Japan
China
India
Rest of Asia-Pacific

o LAMEA

Latin America
Middle East
Africa

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