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Analog Servo Motors and Drives Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Analog Servo Motors and Drives Market
As per the report, the analog servo motors and drives market size has grown strongly in recent years. It will grow from $9.6 billion in 2023 to $10.4 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The analog servo motors and drives market size is expected to see strong growth in the next few years. It will grow to $13.59 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
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Automation In Manufacturing For Enhanced Efficiency And Growth
The rising demand for automation in manufacturing processes is expected to propel the growth of analog servo motors and drives market going forward. Automation in manufacturing refers to the use of technology, machinery, and control systems to perform tasks and processes with minimal human intervention. Automation is increasing in manufacturing due to its ability to drive cost savings, improve productivity, enhance quality, address labor challenges, enable digital transformation, and meet the demands of a rapidly changing marketplace. The analog servo motors and drives market facilitates increasing automation in manufacturing by providing precise motion control solutions essential for automated machinery, enabling efficient production processes and reducing reliance on manual labor. For instance, in October 2021, according to the International Federation of Robotics (IFR), a Germany-based professional non-profit organization the global robot installations in the automotive sector alone increased by 16% in 2021 compared to the previous year. Therefore, the rising demand for automation in the manufacturing process is driving the growth of the analog servo motors and drives market.
Integration With Advance Technologies And Innovations
Major companies operating in the analog servo motors and drives markets are focusing on integrating I/O expansion options to extend feature and enhance their market offering. I/O expansion option refer to additional hardware components that extend the input/output capability of a main controller or system beyond its built-in. It is employed in machine-building applications where motor technologies with voltages between 200 and 480 V and powers between 0.25 and 7.5 kW are needed. For instance, in January 2024, Aerotech Inc., a US-based precision motion control and automation company, launched automation1 XA4 and iXA4 PWM servo drives, which is compact, economical single-and multi-axis servo drives. Automation1 XA4 and iXA4 PWM servo drives provide precision motion control at a reduced cost. The new products include full motion controllers and I/O expansion options, making them suitable for a range of applications. The Automation1 XA4 and iXA4 PWM servo drives are part of this new line, offering streamlined and cost-effective solutions for motion control applications. These products are designed to provide high performance and integrated motion control for up to 12 axes.
The analog servo motors and drives market covered in this report is segmented -
1) By Drive : AC Drive , DC Drive
2) By Voltage Range : Low Voltage , Medium Voltage , High Voltage
3) By Application: Extreme Environment Applications, Semiconductor Machinery, Automated Guided Vehicle (AGV), Electronics, Other Applications
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Major companies operating in the analog servo motors and drives market are Hitachi Ltd., Siemens AG, Panasonic Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Toshiba Corporation, Nidec Corporation, Parker Hannifin Corporation, Emerson Electric Co., Delta Electronics Inc., Danfoss A/S, Rockwell Automation Inc., Bosch Rexroth AG, Fanuc Corporation, AMETEK Inc., WEG S.A., SEW-EURODRIVE GmbH & Co KG, Yaskawa Electric Corporation, Moog Inc., Fuji Electric Co. Ltd., Lenze SE, Pilz GmbH & Co. KG, Oriental Motor Co.Ltd., Nippon Pulse Motor Co. Ltd
Contents of the report:
1. Executive Summary
2. Analog Servo Motors and Drives Market Report Structure
3. Analog Servo Motors and Drives Market Trends And Strategies
4. Analog Servo Motors and Drives Market - Macro Economic Scenario
5. Analog Servo Motors and Drives Market Size And Growth
…..
27. Analog Servo Motors and Drives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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