Press release
Servo Motor and Drive Market is Set to Reach US$ 40.94 Billion at a CAGR of 8.2% by 2034
Servo Motor and Drive Market
Servo motors are renowned for their ability to rotate with exceptional precision, facilitated by control circuits that provide feedback on the motor shaft's current position, ensuring accurate rotation. These motors are integral across diverse sectors including robotics, automated manufacturing, electronics, medical equipment, toy production, and various industrial machinery applications.
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https://www.factmr.com/connectus/sample?flag=S&rep_id=9938
Country-wise Insights
In 2024, the United States servo motor and drive market is expected to reach $2.28 billion and is projected to grow at a CAGR of 8.8% from 2024 to 2034, reaching $5.53 billion by the end of the forecast period.
The demand for servo motors and drives in the US is driven by technological advancements, energy efficiency regulations, and the adoption of smart manufacturing practices. These factors have spurred their adoption across various industries, fostering innovation and market growth.
The United States dominates 64.6% of the servo motor and drive market share in North America in 2024. This dominance is fueled by their increased use in the automotive sector, where industrial robots are increasingly integrated. The country serves as a crucial market for robotic automation providers, with a significant 48% year-on-year increase in demand for industrial robots from automotive component manufacturers in 2022.
Category-wise Insights
By product type, sales of linear and rotary servo motors are expected to reach $9.08 billion in 2024, growing at a CAGR of 9.7% to reach $22.89 billion by 2034.
Linear and rotary servo motors are estimated to hold a 50% share of the global market in 2024. These motors find applications in material handling, robotics, food and beverage manufacturing, window automation, agricultural machinery, and other sectors. Small and medium rotary servo motors are readily available in the market, known for their high precision and long-term reliability.
Read More: https://www.factmr.com/report/servo-motor-and-drive-market
Competitive Landscape
Key players operating in the servo motor and drive market are Siemens AG, Altra Industrial Motion Corp., Panasonic Corporation, Nidec Motor Corporation, Parker Hannifin Corporation, Delta Electronics Inc., Fuji Electric Co., Hitachi Ltd., Rozum Robotics Inc., Mitsubishi Electric Corporation, Schneider Electric, Fanuc Corporation, Rockwell Automation, Inc., ABB, and Applied Motion Products.
Manufacturers are fiercely competing for market dominance amidst growing demand for automation and technological advancements. These industry players prioritize servo motors known for their superior quality and cutting-edge technology, which not only promote environmental sustainability but also enhance efficiency and productivity across industrial machinery.
In September 2023, Panasonic unveiled the MINAS A7 Family servo system. This advanced system sets a new industry benchmark with its superior motion performance and incorporates artificial intelligence (AI) for precise, automatic tuning, surpassing human expertise-a significant innovation in the field. The product is slated for release in Japan in January 2024, followed by a global rollout.
In January 2023, Rockwell Automation introduced the ArmorKinetix Distributed Servo Drives, expanding their acclaimed Kinetix 5700 platform. This latest addition provides customers with a scalable drive solution, enabling them to develop more robust and efficient machine designs. The innovative system aims to enhance performance and flexibility, catering to the evolving requirements of industrial applications.
Segmentation of Servo Motor and Drive Market Research
By Product Type :
Linear Servo Motors
Rotary Servo Motors
Positional Rotation Type
Continuous Rotation Type
By Technology :
Single-Axis Servo Systems
Pulse Duty Servo Drives
Continuous Duty Servo Drives
Multi-Axis Servo Systems
By Application :
Remote Controlled Toys
Robotics
Electronic Devices
Medical Devices
Printing & Packaging Equipment
CNC Machines
Other Industrial Machinery & Equipment
By Motor Configuration :
AC Servo Motors
Induction Type
Synchronous Type
DC Servo Motors
Brushless DC Motors
Separated Excited DC Motors
Permanent Magnet DC Motors
By Rated Power Capacity :
400 to 750 kW
750 to 1 kW
1 to 5 kW
5 to 15 kW
15 to 50 kW
50 to 100 kW
By Region :
North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia & Oceania
Middle East & Africa
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ซ ๐๐ฉ๐๐๐ข๐๐ข๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ:
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