Press release
Servo Motors and Drives Market 2021 Evolving Technology and Growth Outlook - Yaskawa Electric Corp., Mitsubishi Electric Corp., Siemens AG
The Servo Motors and Drives Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. This report also provides an analysis of the impact of the COVID-19 pandemic on Servo Motors and Drives Industry.The servo motors and drives market is anticipated to register a CAGR of 6.4% during the forecast period (2021 - 2026).
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Top Leading Companies of Servo Motors and Drives Market are Yaskawa Electric Corp., Mitsubishi Electric Corp., Siemens AG, Schneider Electric, Rockwell Automation, Inc., ABB Ltd., Delta Electronics, Inc., FANUC Corp., Kollmorgen Corp., Bosch Rexroth AG and others.
Industry News and Updates:
- March 2019 - Seimens launched new Sinamics S210 Servo Drive System Simplifying Motion Control. It is designed for use with the newly developed Simotics S-1FK2 motors.
- March 2019 - Mitsubishi announced to launch a new series of servo systems. these systems would support the CC-Link IE TSN2 next-generation industrial open network.
- June 2020- Rockwell Automation Inc. announced the launch of a Fanless Kinetix VPC Servo Motor Delivers Energy Savings by Allen-Bradley leads the motor to use the same interior permanent magnet technology as the original fan version to help operators achieve better performance and higher energy efficiencies.
Key Market Trends:
Automotive to Hold Significant Share
- Automakers in the recent years have automated their plants, like KUKA AG, in order to reduce the number of issues on the work floor, improving efficiency and reducing the operational costs. Many companies have been identified to follow suit, by automating their plant in order to gain better returns and efficiency, driving the market for servo motors and drives market.
- The growing adoption of automation in manufacturing processes and involvement of digitization and AI are primary factors driving the demand for industrial robots among the automotive sector. For instance, in July 2018, the International Automotive Components (IAC) has implemented manufacturing 4.0 and smart factory applications at its UK site in Halewood, England. The new application is expected to deploy smart logistics, cross-company integration, and collaborative robots (cobots).
- In 2017, more than 170,000 robots took part in the production process in Europe automotive industry. The growing presence of robots and automation in Europe automotive industries is expected to fuel the market for industrial robots further in the region.
- For instance, in April 2018, PSA Group, Europe’s second-largest car manufacturer, began the process of modernizing its European manufacturing sites with Universal Robots UR10 collaborative robots.
- Therefore, such increased adoption in the of automation and robotics is anticipated to drive the market for servo motor and drives in the automotive sector over the forecast period.
The regions are further sub-divided into:
-North America (NA) – US, Canada, and Mexico
-Europe (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of Europe
-Asia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APAC
-Latin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin America
-Middle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South Africa
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Servo Motors and Drives Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
We Offer Customization On Report Based On Specific Client Requirement:
– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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