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Servo Motors & Drives Market worth $20.28 billion by 2030, growing at a CAGR of 6.18% - Exclusive Report by 360iResearch
Servo Motors & Drives Market | 360iResearch
The Global Servo Motors & Drives Market to grow from USD 13.32 billion in 2023 to USD 20.28 billion by 2030, at a CAGR of 6.18%.
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Servo motors and drives are electric motors designed to move or rotate an object with precision. Servo motors and drives can accelerate quickly to a commanded position, hold that position, and ensure precise motion control, often finding use in automation, robotics, machinery, and other applications where precision and control are paramount. Industries, including automotive manufacturing, healthcare, packaging, and robotics, leverage the advanced capabilities of servo systems to enhance operational throughput and reliability. The burgeoning industrial automation sector, driven by the need for high productivity and reduced labor costs, is the main catalyst for the adoption of these components. Furthermore, Industry 4.0 initiatives and inclination towards the adoption of smarter manufacturing environments have further propelled demand for servo motors and drives. However, technical limitations of servo motors and drives and difficulties associated with frequent maintenance and calibration of the equipment impede the widespread adoption of motors and drives. Major manufacturers are constantly exploring innovations to expand the precision and performance of servo motors and drives to circumvent issues related to operational and technical limitations of the equipment. In addition, the integration of smart functions, miniaturization, and the development of energy-efficient products cater to the evolving requirements of modern industries.
The Americas, particularly the U.S., Canada, and Brazil, observe significant use of servo motors & drives owing to the rising manufacturing, automotive, and electronics industries. In terms of production, the region is home to major global manufacturers consistently working on technological advancements and high industrial automation. In the Asia-Pacific region, China, Japan, and South Korea lead in usage and production primarily due to their robust engineering and manufacturing sectors. Emerging economies, such as India and ASEAN countries, present significant market potential due to increasing industrial automation and the growing electronics industry. Europe, notably Germany, France, and the UK, has a steadily growing servo motors & drives market, driven by the presence of significant players with automated facilities catering to the large-scale production of electric vehicles and the need for sophisticated components in renewable energy systems. The MEA region exhibits a moderate growth rate in the servo motors & drives market, with notable usage in the oil and gas industry and manufacturing sector. This region is more of a consumer market as most of the servo motors & drives are imported from Europe and Asia. However, emerging markets such as the UAE and Saudi Arabia are investing in industrial automation, potentially broadening the future market in this region.
Market Segmentation & Coverage:
This research report categorizes the Servo Motors & Drives Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Servo Drives and Servo Motors. The Servo Motors is further studied across AC Servo Motor and DC Servo Motor. The AC Servo Motor is further studied across Permanent Magnet Shunt Motor, Series Motors, Shunt Control Motor, and Split Series Motors. The DC Servo Motor is further studied across Continuous Rotation Servo Motor, Linear Servo Motor, and Positional Rotation Servo Motor. The Servo Drives is projected to witness significant market share during forecast period.
Based on Nominal Power, market is studied across 0.5 kW -1.8 kW, 2 kW- 7 kW, and 7 kW Above. The 2 kW- 7 kW is projected to witness significant market share during forecast period.
Based on End-user, market is studied across Automotive & Transportation, Food, Oil & Gas, Packaging, Pharmaceutical & Healthcare, Printing & Paper, Semiconductor & Electronics, and Textile. The Food is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.51% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Servo Motors & Drives Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Servo Motors & Drives Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Servo Motors & Drives Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd, ADVANCED Motion Controls, Aerotech, Inc., Allied Motion Technologies Inc., Altra Industrial Motion Corp by Regal Rexnord Group, Anaheim Automation, Inc., Applied Motion Products, Inc., Baumüller Nürnberg GmbH, Bharat Bijlee Limited, Bosch Rexroth Corporation by Robert Bosch GmbH, Danfoss A/S, Delta Electronics, Inc., Emerson Electric Co., ESR Pollmeier GmbH, Estun Industrial Technology Europe S.r.l., FANUC Corporation, Festo Inc., Fuji Electric Co., Ltd., Heason by discoverIE Group plc, Hitachi Industrial Equipment Systems Co., Ltd., HIWIN Corporation, Ingnenia Cat S.L.U. by Novanta Inc., Mitsubishi Electric Corporation, Nidec Corporation, Panasonic Corporation, Parker Hannifin Corporation, Rockwell Automation, Inc., Rozum Robotics LLC, Schneider Electric SE, Siemens AG, WEG S.A., and Yaskawa Electric Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Servo Motors & Drives Market, by Product
7. Servo Motors & Drives Market, by Nominal Power
8. Servo Motors & Drives Market, by End-user
9. Americas Servo Motors & Drives Market
10. Asia-Pacific Servo Motors & Drives Market
11. Europe, Middle East & Africa Servo Motors & Drives Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Servo Motors & Drives Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Servo Motors & Drives Market?
3. What is the competitive strategic window for opportunities in the Servo Motors & Drives Market?
4. What are the technology trends and regulatory frameworks in the Servo Motors & Drives Market?
5. What is the market share of the leading vendors in the Servo Motors & Drives Market?
6. What modes and strategic moves are considered suitable for entering the Servo Motors & Drives Market?
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