Servo Motors and Drives Market worth 15.92 Billion USD by 2022

The latest research report "Servo Motors and Drives Market by Offering (Motor & Drive Component, Software & Service), Type (AC/DC, Linear Servo Motor, Adjustable Speed Drives), Voltage Range, MoC, Communication Protocol, Industry, and Geography - Global Forecast to 2022", The servo motors and drives market is expected to grow from USD 10.26 Billion in 2015 to USD 15.92 Billion by 2022, at a CAGR of 6.25% between 2016 and 2022.

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This report provides the market size and future growth potential of the servo motors and drives market across different segments such as offering type, voltage range, material of construction, communication protocol, industry, and geography. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the market. It also profiles the key players operating in the servo motors and drives market. The advancement and rapid growth in automation is expected to drive the servo motors and drives market. The base year considered for the study is 2015 and the market size forecast is provided for the period between 2016 and 2022.

The servo motors and drives ecosystem includes raw material suppliers such as Northland Resources AB (Sweden), British Steel Corp. (London), and Nippon Steel Corp. (Japan); manufacturing & packaging; automobile manufacturers; system integrators; distributors such as Camloc Motion Control Ltd. (U.K.), BCS Motion Inc. (U.S.), and Gefran (Italy); and end user industries.

The AC servo motors is expected to hold the largest share in the servo motors and drives market between 2016 and 2022. The high capability and dynamic functionality of AC servo motors is the major reason behind its increasing use in various industries such as automotive, and food processing, packaging, among others.

The packaging industry uses automation for a wide range of operations. The various application of servo motors and drives in the packaging industry includes electric injection molding machine, hybrid injection molding machines (plastic injection molding machines, CNC machines), and others.

The APAC held the largest share of the servo motors and drives market in 2015. The reason for this growth is increasing industrial activity along with the demand for faster and accurate motors and drives to achieve a higher production output. The increasing demand for energy efficient production processes coupled with the need of software systems is fostering the growth of the servo motors and drives market.

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