Global Servo Motors and Drives Market Analysis, Trends, Opportunities, Scale and Segment Forecast to 2027 | Key Players YASKAWA ELECTRIC CORPORATION, Siemens AG, Mitsubishi Electric Corporation, etc.

The global servo motors and drives market is expected to witness a CAGR of 6.1% during the forecast period 2020-2027. Servo motors and drives have emerged as one of the most developed motion control devices as they integrate precise dimension tolerance, developed design methods, and high-force magnet materials. The growing automation in factories and other industrial units along with the widespread adoption of robotics across industries are the key factors driving the growth of the servo motors and drives market.

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The technological development and implementation of government policies such as Minimum Energy Performance Standards (MEPS), in various countries, has given rise to energy-efficient motor systems, fuelling the growth of the servo motors and drives market. The rise in demand for energy-efficient motors resulted in shifting from standard energy-efficient motors to premium energy-efficient motors. This turnaround is directly driving the revenue growth for servo motors and drives manufacturers.

The COVID-19 outburst has disrupted the global supply chain and business operations. Due to complete lockdown, there were factory closures and factories have to operate with the minimum labor force.

The software and services segment is anticipated to have a high CAGR owing to servo software used for installation setup, networking, motion controlling, and other configuration requirements.

The servo motor holds the largest share in the market and will grow further during the forecast period, owing to its benefits of high torque per weight, efficiency, low-frequency noise, accuracy, speed, and are used in various applications across diverse end-use industries.

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Based on the system, the servo motors and drives market is bifurcated into the linear system and rotary system.

Based on voltage, the servo motors and drives market is divided into low voltage, medium voltage, and high voltage.

The permanent magnet is anticipated to have a high CAGR as they are small and have lightweight, resulting in low torque per size density.

Based on communication protocol, the servo motors and drives market is segmented into Fieldbus, industrial ethernet, and wireless.

The growing trend of industry 4.0 has led market players to replace conventional motors with servo motors and drives in order to streamline their operations and improve production. The automation industry is growing by leaps and bounds, thus there is extensive use of applications for advanced instruments and machines.

The rapid industrial automation in emerging economies, rising penetration of robotic technology, increase in government regulations regarding energy efficiency, and technological development such as integration of connected devices with IoT and AI are the factors that drive the growth of the market.

The entry of collaborative robots in the automotive assembly line for various applications is set to create lucrative opportunities for the servo motor and drives the market.

Geographically, due to rapid industrialization and globalization, The APAC is anticipated to hold the largest market share in the servo drives and motors market during the forecast period. 2020-2027.

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The market for servo motors and drives is anticipated to be highly competitive and the players are focus on new product development, partnerships, and mergers and acquisitions in order to expand their consumer base. The industry players are collaborating with end-use industries to secure the sales of servo motors. Thud, their focus is to attain a competitive edge and have the liberty to customize products as per their client’s demand.

Some of the key players operating in the Servo motors and drives market: YASKAWA ELECTRIC CORPORATION, Siemens AG, Mitsubishi Electric Corporation, Schneider Electric, Rockwell Automation, Inc., ABB, NIDEC CORPORATION, Delta Electronics, Inc., FANUC CORPORATION, and Bosch Rexroth AG.

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