Press release
Servo Motors and Drives Market: Global Industry Analysis and Forecast 2015 - 2021
Global servo motors and drives market is growing steadily. Factors which are driving the growth of global servo motors and drives market are growing replacement demand of old out-dated low efficient electric motors with new highly efficient servo motors and drives, increasing automation market, decreasing prices of servo motors and technological advancement into servo market. Furthermore, strict environmental and energy consumption regulations acting as a key driving factors for the growth of global servo motors and drives market. On the other hand, slightly higher prices of servo motors as compare to stepper motors and level of risk and uncertainty are few factors restraining the growth of global servo motors and drives market. However, growing adoption of international standards by developing regions and emerging application areas of servo motors are expected to create great opportunity for servo motors and drives market in coming years.
Global servo motors and drives market is segmented on the basis of types, components and applications. On the basis of types, the global servo motors and drives market can be segmented into servo motors and servo drives. Servo motors can be further sub segmented into AC servo motors, brushed DC, DC brushless and linear servo motors. AC servo motors are expected to lead the market during the period of forecast as compare to other types of servo motors. Servo drives can be further sub segmented into AC servo drives, DC servo drives and adjustable speed.
On the basis of components, global servo motors and drives market can be segmented into servo motors components and servo drives components. Servo motors component market can be further sub segmented into sensors, encoders and controller modules. On the other hand, servo drives component market can be further sub segmented into electronic amplifier, control system and others.
On the basis of application, global servo motors and drives market can be sub segmented into automotive & transportation, semiconductor & electronics, food processing, healthcare, material handling and others. Among all these application segments, automotive application segment held the largest share of present global servo motors & drives market. Growing implementation of automotive tools in various industries have driven this market growth.
On the basis of region, the global servo motors & drives market can be segmented into seven regions namely, North America, Latin America, Western Europe, Asia Pacific (excluding Japan), Japan as a separate region, Eastern Europe and Middle East & Africa. Growth in global servo motors and drives market is primarily because of favourable economic conditions and expanding manufacturing industries in China, India, South Korea, Indonesia and several other countries in Asia Pacific region and Japan. Asia-Pacific represents largest market for servo motors and drives in 2014 and it is expected to grow rapidly during the period of forecast. Developed countries such as U.S. and Germany are focusing more towards automation market, which further fuels the growth of global servo motors and drives market.
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Key players in global servo motors and drives market are Siemens AG, YASKAWA ELECTRIC CORPORATION, Rockwell Automation, Inc., Emerson Electric Co., Nidec Corporation, Baldor Electric Company, Mitsubishi Electric Corporation, Schneider Electric S.E., ABB Ltd. and Parker Hannifin Corporation.
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